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urprakash

Businesses have legal and ethical obligations. Ethical theories provide frameworks for determining right and wrong actions. Utilitarianism and Kantian ethics focus on consequences and duties. Social responsibility theories say businesses should consider stakeholders, avoid harm, or do good. Conducting social audits can help businesses meet legal and ethical standards.

BusinessEconomy & Finance
1 of 38
Chapter 7 Ethics and Social Responsibility of Business
Introduction ,[object Object],[object Object],[object Object],[object Object]
Law and Ethics ,[object Object],[object Object],[object Object]
Moral Theories and Business Ethics Ethical Relativism Ethical Fundamentalism Utilitarianism Kantian Ethics Rawls’s Social Justice Theory
Ethical Fundamentalism ,[object Object],[object Object]
Utilitarianism ,[object Object],[object Object],[object Object]
Kantian Ethics (Duty Ethics) ,[object Object],[object Object],[object Object],[object Object]
Kantian Ethics (Duty Ethics) (continued) ,[object Object],[object Object],[object Object]
Kantian Ethics (Duty Ethics) (continued) ,[object Object],[object Object]
Rawls’s Social Justice Theory ,[object Object],[object Object]
Rawls’s Social Justice Theory (continued) ,[object Object],[object Object],[object Object],[object Object]
Rawls’s Social Justice Theory (continued) ,[object Object],[object Object],[object Object]
Ethical Relativism ,[object Object],[object Object],[object Object]
Ethical Relativism (continued) ,[object Object]
Theories of Ethics – Summary (1 of 2) A set of universal rules establishes ethical duties. The rules are based on reasoning and require (1) consistency in application and (2) reversibility. Kantian ethics Persons choose the alternative that would provide the greatest good to society. Utilitarianism Persons look to an outside source or central figure for ethical guidelines. Ethical fundamentalism Description Theory
Theories of Ethics – Summary (2 of 2) Individuals decide what is ethical based on their own feelings as to what is right or wrong. Ethical relativism Moral duties are based on an implied social contract. Fairness is justice. Rules are established from an original position. Rawls’s social justice theory Description Theory
The Social Responsibility of Business ,[object Object],[object Object],[object Object],[object Object]
The Social Responsibility of Business (continued) ,[object Object],[object Object]
Ethics Brief Corporations that conduct social audits will be more apt to prevent unethical and illegal conduct by managers, employees, and agents.
The Social Responsibility of Business (continued) ,[object Object],[object Object],[object Object]
The Caux Round Table Principles: ,[object Object],[object Object]
The Caux Round Table Principles: (continued) ,[object Object],[object Object],[object Object],[object Object],[object Object]
Theories of Social Responsibility Maximizing Profits Moral Minimum Stakeholder Interest Corporate Citizenship
Maximizing Profits ,[object Object],[object Object]
Moral Minimum ,[object Object],[object Object]
Moral Minimum (continued) ,[object Object],[object Object],[object Object]
Stakeholder Interest ,[object Object],[object Object]
Other Stakeholders of a Business Customers Employees Suppliers Local Community Creditors
Corporate Citizenship ,[object Object],[object Object],[object Object]
Corporate Citizenship (continued) ,[object Object],[object Object],[object Object]
Theories of Social Responsibility – Summary To do good and solve social problems Corporate citizenship To consider the interests of all stakeholders, including stockholders, employees, customers, suppliers, creditors, and local community. Stakeholder interest To avoid causing harm and to compensate for harm caused. Moral minimum To maximize profits for stockholders. Maximizing profits Social Responsibility Theory
The Corporate Social Audit ,[object Object],[object Object]
The Corporate Social Audit (continued) ,[object Object],[object Object],[object Object]
The Corporate Social Audit (continued) ,[object Object],[object Object],[object Object],[object Object],[object Object]
The Corporate Social Audit (continued) ,[object Object],[object Object],[object Object],[object Object]
The Corporate Social Audit (continued) ,[object Object],[object Object],[object Object]
The Corporate Social Audit (continued) ,[object Object],[object Object],[object Object],[object Object]
United Nations Code of Conduct for Transnational Corporations ,[object Object],[object Object],[object Object],[object Object]

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Business law

  • 1. Chapter 7 Ethics and Social Responsibility of Business
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  • 4. Moral Theories and Business Ethics Ethical Relativism Ethical Fundamentalism Utilitarianism Kantian Ethics Rawls’s Social Justice Theory
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  • 15. Theories of Ethics – Summary (1 of 2) A set of universal rules establishes ethical duties. The rules are based on reasoning and require (1) consistency in application and (2) reversibility. Kantian ethics Persons choose the alternative that would provide the greatest good to society. Utilitarianism Persons look to an outside source or central figure for ethical guidelines. Ethical fundamentalism Description Theory
  • 16. Theories of Ethics – Summary (2 of 2) Individuals decide what is ethical based on their own feelings as to what is right or wrong. Ethical relativism Moral duties are based on an implied social contract. Fairness is justice. Rules are established from an original position. Rawls’s social justice theory Description Theory
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  • 19. Ethics Brief Corporations that conduct social audits will be more apt to prevent unethical and illegal conduct by managers, employees, and agents.
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  • 23. Theories of Social Responsibility Maximizing Profits Moral Minimum Stakeholder Interest Corporate Citizenship
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  • 28. Other Stakeholders of a Business Customers Employees Suppliers Local Community Creditors
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  • 31. Theories of Social Responsibility – Summary To do good and solve social problems Corporate citizenship To consider the interests of all stakeholders, including stockholders, employees, customers, suppliers, creditors, and local community. Stakeholder interest To avoid causing harm and to compensate for harm caused. Moral minimum To maximize profits for stockholders. Maximizing profits Social Responsibility Theory
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Editor's Notes

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