The document discusses ethics and ethical decision-making in the workplace. It defines ethics as moral principles that define right and wrong for individuals or groups. It describes potential unethical managerial behaviors related to authority, handling information, influencing others, and setting goals. It also discusses types of workplace deviance like production deviance, property deviance, political deviance, and personal aggression. The document outlines steps managers can take to encourage ethical behaviors and make ethical decisions, such as establishing standards and procedures, training employees, and enforcing rules consistently.
O documento discute o trabalho infantil, definindo-o como qualquer trabalho realizado por crianças abaixo da idade mínima legal. Apresenta estatísticas da OIT mostrando que cerca de 200 milhões de crianças trabalham globalmente. Também descreve posições da Igreja e da UNICEF contra o trabalho infantil, citando preocupações com a saúde, educação e desenvolvimento das crianças.
Unit 7 pp supporting childrens play in early yearsHCEfareham
This document outlines the aims and activities of four sessions on supporting children's play in early years. The sessions cover topics like the definitions of play, the importance of play for development, different types of play including messy, imaginative and constructive play, and creating play opportunities that consider children's ages and needs. Guidelines for play from the UN Convention on the Rights of the Child are also discussed. A variety of individual and group activities are included to help participants understand and apply the concepts.
This document discusses business ethics and ethical decision making. It defines ethics as moral principles that govern behaviors. There are two key branches of ethics - descriptive ethics which describes morality, and normative ethics which justifies moral systems. The document outlines several approaches to ethical decision making, including utilitarianism, individualism, moral rights, and justice. It also discusses factors that influence ethical choices such as the manager, organization, and levels of moral development. An ethical organization is defined as one with ethical individuals, leadership, and structure.
The document discusses ethics and social responsibility for managers. It defines ethics as moral principles that govern behaviors. There are three domains of human action with differing levels of control: law, ethics, and free choice. Managers face ethical dilemmas when choosing between alternatives with negative consequences. When making ethical decisions, managers consider approaches like utilitarianism, individualism, moral rights, and justice. An organization's social responsibility includes considering stakeholders and being environmentally responsible. For an organization to be ethical, it requires ethical individuals, leadership, structure, and a commitment to maintaining standards of ethics.
Chapter 05 Ethics and Social ResponsibilityRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
PPT_Chapter04.ppt management principles and functionsBadhanMustary1
This chapter discusses stakeholders, ethics, and corporate social responsibility. It identifies stakeholders as any group that can affect or is affected by a company. It also discusses common ethical issues managers face related to stakeholders' rights. Additionally, it outlines approaches to ethics like utilitarianism and discusses the debate around corporate social responsibility. The chapter provides examples of ethical and unethical behavior and gives recommendations for how managers can incorporate ethics and social responsibility into decision making.
This document discusses ethics, corporate social responsibility, and environmental sustainability as they relate to business strategy. It covers several key points:
- There should be a link between a firm's strategy and its ethical and socially responsible behavior. Unethical strategies can harm profits and reputation.
- Ethical standards may be universal, relative to local cultures, or based on universal principles and local circumstances. Firms need strong codes of ethics regardless of location.
- Corporate social responsibility involves balancing responsibilities to shareholders, legal compliance, ethics, and philanthropic goals. Common initiatives include community support, environmental protection, and workforce diversity.
- Environmental sustainability strategies aim to protect resources for future generations and improve economic, environmental and social
O documento discute o trabalho infantil, definindo-o como qualquer trabalho realizado por crianças abaixo da idade mínima legal. Apresenta estatísticas da OIT mostrando que cerca de 200 milhões de crianças trabalham globalmente. Também descreve posições da Igreja e da UNICEF contra o trabalho infantil, citando preocupações com a saúde, educação e desenvolvimento das crianças.
Unit 7 pp supporting childrens play in early yearsHCEfareham
This document outlines the aims and activities of four sessions on supporting children's play in early years. The sessions cover topics like the definitions of play, the importance of play for development, different types of play including messy, imaginative and constructive play, and creating play opportunities that consider children's ages and needs. Guidelines for play from the UN Convention on the Rights of the Child are also discussed. A variety of individual and group activities are included to help participants understand and apply the concepts.
This document discusses business ethics and ethical decision making. It defines ethics as moral principles that govern behaviors. There are two key branches of ethics - descriptive ethics which describes morality, and normative ethics which justifies moral systems. The document outlines several approaches to ethical decision making, including utilitarianism, individualism, moral rights, and justice. It also discusses factors that influence ethical choices such as the manager, organization, and levels of moral development. An ethical organization is defined as one with ethical individuals, leadership, and structure.
The document discusses ethics and social responsibility for managers. It defines ethics as moral principles that govern behaviors. There are three domains of human action with differing levels of control: law, ethics, and free choice. Managers face ethical dilemmas when choosing between alternatives with negative consequences. When making ethical decisions, managers consider approaches like utilitarianism, individualism, moral rights, and justice. An organization's social responsibility includes considering stakeholders and being environmentally responsible. For an organization to be ethical, it requires ethical individuals, leadership, structure, and a commitment to maintaining standards of ethics.
Chapter 05 Ethics and Social ResponsibilityRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
PPT_Chapter04.ppt management principles and functionsBadhanMustary1
This chapter discusses stakeholders, ethics, and corporate social responsibility. It identifies stakeholders as any group that can affect or is affected by a company. It also discusses common ethical issues managers face related to stakeholders' rights. Additionally, it outlines approaches to ethics like utilitarianism and discusses the debate around corporate social responsibility. The chapter provides examples of ethical and unethical behavior and gives recommendations for how managers can incorporate ethics and social responsibility into decision making.
This document discusses ethics, corporate social responsibility, and environmental sustainability as they relate to business strategy. It covers several key points:
- There should be a link between a firm's strategy and its ethical and socially responsible behavior. Unethical strategies can harm profits and reputation.
- Ethical standards may be universal, relative to local cultures, or based on universal principles and local circumstances. Firms need strong codes of ethics regardless of location.
- Corporate social responsibility involves balancing responsibilities to shareholders, legal compliance, ethics, and philanthropic goals. Common initiatives include community support, environmental protection, and workforce diversity.
- Environmental sustainability strategies aim to protect resources for future generations and improve economic, environmental and social
The document discusses key topics in managing ethics and social responsibility for organizations. It defines ethics and explains approaches for evaluating ethical behavior, including utilitarian, individualism, moral rights, and justice approaches. It also discusses how managers make ethical decisions, balance stakeholder interests, and address concepts like sustainability, corporate social responsibility, and creating an ethical organizational culture through leadership and systems.
This document discusses ethics in international business. It covers key ethical issues like employment practices, human rights, environmental regulations, and corruption. It also examines philosophical approaches to ethics like utilitarianism, Kantian ethics, and rights theories. The document emphasizes that companies should foster ethical behavior through their organizational culture, leadership, decision-making processes, and by developing moral courage among employees.
The document discusses motivation and incentives in the workplace. It identifies three key factors that drive motivation: 1) Intensity of desire or need, 2) Incentive or reward value of the goal, and 3) Expectations of the individual and their peers. It then outlines eight steps for companies to improve ethics, including analyzing the work environment, gaining employee input, providing ethics training, and setting up ongoing workshops.
9e daft chapter_5_managing_ethics_and_social_responsibilityfatwaamrani
The document discusses managing ethics and social responsibility in organizations. It defines ethics and explains how managers face complex ethical issues and dilemmas. It also discusses approaches to ethical decision making and how managers must balance the interests of various stakeholders. The document outlines concepts like corporate social responsibility and the bottom of the pyramid, describing strategies companies use to address social issues and alleviate poverty while being profitable. It emphasizes that ethics and sustainability should be integrated into all levels of organizational management and decision making.
This document provides an overview of ethics. It discusses how ethics is a set of beliefs about right and wrong behavior within a society. It outlines Cisco's commitment to ethics in their business operations. Cisco provides ethics training to employees and encourages volunteering. The document also discusses how organizations should balance social responsibilities with their primary mission. It examines ethical decision making approaches like virtue ethics and utilitarianism. Finally, it covers concerns about ethical use of information technology like monitoring employees and hacking databases.
The document discusses ethics and social responsibility. It defines ethics as moral principles that govern behaviors. There are three domains of human action - law, ethics, and free choice - with differing levels of control. Ethical dilemmas arise when choices have negative consequences, making right from wrong unclear. When making ethical decisions, managers consider the needs of individuals versus groups. Four approaches to ethical decision making are described: utilitarian, individualism, moral rights, and justice. Factors like the manager's moral development and the organization also affect ethical choices.
This document provides an overview of chapters 5-7 from an international business textbook. Chapter 5 discusses ethics in international business, including issues related to employment practices, human rights, environmental regulations, corruption, and moral obligations of multinational companies. It also examines philosophical approaches to ethics like utilitarianism and deontology. Chapter 6 covers international trade theory, including theories of absolute advantage and comparative advantage. Chapter 7 discusses foreign market entry strategies such as exporting, licensing, and foreign direct investment.
The document discusses organizational structure and business ethics. It defines centralized and decentralized organizational structures. Centralized structures concentrate decision-making authority at the top, while decentralized structures delegate authority down the chain of command. The document also discusses types of groups, both formal and informal, that can influence ethical decision-making within corporations. These groups include committees, work groups, teams, and the informal "grapevine."
The document discusses various topics related to business ethics including scandals that have shaken industries, the importance of ethical standards and values like integrity and honesty, examples of companies and executives who violated ethics facing legal consequences, factors that influence managerial ethics, ways to improve business ethics through codes of conduct and corporate social responsibility.
The document discusses business ethics and social responsibility. It covers four key takeaways: 1) definitions of ethics and ethical behavior, 2) ethics in the workplace including ethical dilemmas, 3) maintaining high ethical standards through codes of conduct and whistleblowing, and 4) social responsibility and corporate social responsibility including sustainability and perspectives on social responsibility.
Identify ethical behavior and myths of ethics
Define the ethical dilemma
Familiar with resolving the dilemma
Identify the process of Ethical decision making
CH06-Ethical and Social Responsibility Challenges .pptKasaijjaAli
This document discusses the ethical and social responsibility challenges that entrepreneurs may face. It begins by defining ethics and providing a framework to classify decisions as ethical/unethical and legal/illegal. It then discusses types of morally questionable acts, rationalizations managers may use, and problems with laws not accurately reflecting societal ethics. The document concludes by offering strategies for establishing ethical responsibility, including codes of conduct and balancing social responsibility with business decisions in a complex environment where entrepreneurs have opportunities for ethical leadership.
This document provides an overview of key topics in business ethics and the legal environment. It discusses the relationship between ethics and law, and how companies should consider stakeholders and follow ethical principles. It also describes the significance of ethical behavior for business and how laws affect business activities. Finally, it discusses some methods for companies to promote ethical conduct, like incentives, rules, and addressing whistleblowing.
This document discusses ethics and social responsibility in organizations. It addresses individual ethics, managerial ethics across three relationships (firm-employees, employees-firm, firm-other agents), and organizational approaches including codes of ethics. It also covers emerging issues like ethics in IT and leadership. Social responsibility is discussed including stakeholder groups, arguments for and against, and organizational, government, and evaluation approaches. Approaches include defensive, accommodative, and proactive stances.
This document discusses ethics in the workplace. It begins by outlining some basic ethical presuppositions and imperatives like respecting others, helping people, being honest and fair. It then discusses codes of conduct and views on their role and effectiveness. Several workplace ethics dilemmas are presented along with approaches to evaluate ethical decisions. The document emphasizes that ethics is a continual process and companies should lead by example through their leaders' behavior.
Managerial Ethics And Corporate Social Responsibility Sabih Kamran
MGT 201 Helpful Slides For Management Students Of Different Universities In Karachi And All Over Pakistan And World Managerial Ethics And Corporate Social Responsibility
This document outlines key concepts in business ethics including:
- Different ethical perspectives that guide decision making
- How companies can influence their ethics environment
- A process for making ethical decisions involving awareness, judgement, and character
- Issues around corporate social responsibility and managing environmental impacts
It provides learning objectives focused on understanding ethics, corporate social responsibility, and sustainable business practices.
This document discusses ethical decision making and resolving ethical dilemmas. It begins by defining ethical behavior and identifying common myths about business ethics. An ethical dilemma is described as a complex situation with no clear right or wrong answer that involves balancing different interests. The document then outlines several approaches for resolving dilemmas, including using utilitarian, rule-based, and care-based thinking. It also discusses the whistleblowing process and provides a 10-step framework for ethical decision making. Finally, the document analyzes different tests that can be applied to potential decisions, such as considering benefits and costs, and whether the action could withstand public scrutiny.
INTRODUCTION OF BUSINESS ETHICS (3).pptxakshay353895
This document provides an overview of business ethics and related concepts. It defines ethics, personal ethics, business ethics, and accounting ethics. It discusses the relationship between law and ethics. It also covers ethical decision making, principles of personal ethics, and motivation for being ethical. Normative theories in business ethics like utilitarianism, Kantian ethics, and egoism are introduced. The document also discusses how corporations can institutionalize ethics.
الخطوة الأخيرة عند تحضير عرض جماعي
كتابة محضر الاجتماع مع نقاط العمل.
تحديد الموعد النهائي لإنجاز المهمات.
تقسيم المسئولية بالتساوي.
توزيع محضر الاجتماع على الأفراد.
This document discusses project cost planning and definition. It covers cost definition, estimating project life cycle costs, cost budgeting and sources of funds, implications of cost to quality and risk, and cost control. Cost is defined as the price paid for something or the resources expended to achieve an objective. Life cycle costing involves estimating all costs over the full lifespan of a project. Cost budgeting examines sources of funds like profits, borrowing, and equity funding. Cost control requires thorough planning, estimating, accounting, and periodic comparisons to budgets.
This chapter discusses communication and perception in management. It covers the basic perception process, problems with perception, perception of others and self-perception. It also discusses formal and informal communication channels, coaching and counseling, nonverbal communication, and improving communication. The key topics covered are the perception filters that influence how people perceive stimuli, attribution theory which explains how people explain the behavior of others, and the formal and informal channels used in organizations to communicate.
The document discusses key topics in managing ethics and social responsibility for organizations. It defines ethics and explains approaches for evaluating ethical behavior, including utilitarian, individualism, moral rights, and justice approaches. It also discusses how managers make ethical decisions, balance stakeholder interests, and address concepts like sustainability, corporate social responsibility, and creating an ethical organizational culture through leadership and systems.
This document discusses ethics in international business. It covers key ethical issues like employment practices, human rights, environmental regulations, and corruption. It also examines philosophical approaches to ethics like utilitarianism, Kantian ethics, and rights theories. The document emphasizes that companies should foster ethical behavior through their organizational culture, leadership, decision-making processes, and by developing moral courage among employees.
The document discusses motivation and incentives in the workplace. It identifies three key factors that drive motivation: 1) Intensity of desire or need, 2) Incentive or reward value of the goal, and 3) Expectations of the individual and their peers. It then outlines eight steps for companies to improve ethics, including analyzing the work environment, gaining employee input, providing ethics training, and setting up ongoing workshops.
9e daft chapter_5_managing_ethics_and_social_responsibilityfatwaamrani
The document discusses managing ethics and social responsibility in organizations. It defines ethics and explains how managers face complex ethical issues and dilemmas. It also discusses approaches to ethical decision making and how managers must balance the interests of various stakeholders. The document outlines concepts like corporate social responsibility and the bottom of the pyramid, describing strategies companies use to address social issues and alleviate poverty while being profitable. It emphasizes that ethics and sustainability should be integrated into all levels of organizational management and decision making.
This document provides an overview of ethics. It discusses how ethics is a set of beliefs about right and wrong behavior within a society. It outlines Cisco's commitment to ethics in their business operations. Cisco provides ethics training to employees and encourages volunteering. The document also discusses how organizations should balance social responsibilities with their primary mission. It examines ethical decision making approaches like virtue ethics and utilitarianism. Finally, it covers concerns about ethical use of information technology like monitoring employees and hacking databases.
The document discusses ethics and social responsibility. It defines ethics as moral principles that govern behaviors. There are three domains of human action - law, ethics, and free choice - with differing levels of control. Ethical dilemmas arise when choices have negative consequences, making right from wrong unclear. When making ethical decisions, managers consider the needs of individuals versus groups. Four approaches to ethical decision making are described: utilitarian, individualism, moral rights, and justice. Factors like the manager's moral development and the organization also affect ethical choices.
This document provides an overview of chapters 5-7 from an international business textbook. Chapter 5 discusses ethics in international business, including issues related to employment practices, human rights, environmental regulations, corruption, and moral obligations of multinational companies. It also examines philosophical approaches to ethics like utilitarianism and deontology. Chapter 6 covers international trade theory, including theories of absolute advantage and comparative advantage. Chapter 7 discusses foreign market entry strategies such as exporting, licensing, and foreign direct investment.
The document discusses organizational structure and business ethics. It defines centralized and decentralized organizational structures. Centralized structures concentrate decision-making authority at the top, while decentralized structures delegate authority down the chain of command. The document also discusses types of groups, both formal and informal, that can influence ethical decision-making within corporations. These groups include committees, work groups, teams, and the informal "grapevine."
The document discusses various topics related to business ethics including scandals that have shaken industries, the importance of ethical standards and values like integrity and honesty, examples of companies and executives who violated ethics facing legal consequences, factors that influence managerial ethics, ways to improve business ethics through codes of conduct and corporate social responsibility.
The document discusses business ethics and social responsibility. It covers four key takeaways: 1) definitions of ethics and ethical behavior, 2) ethics in the workplace including ethical dilemmas, 3) maintaining high ethical standards through codes of conduct and whistleblowing, and 4) social responsibility and corporate social responsibility including sustainability and perspectives on social responsibility.
Identify ethical behavior and myths of ethics
Define the ethical dilemma
Familiar with resolving the dilemma
Identify the process of Ethical decision making
CH06-Ethical and Social Responsibility Challenges .pptKasaijjaAli
This document discusses the ethical and social responsibility challenges that entrepreneurs may face. It begins by defining ethics and providing a framework to classify decisions as ethical/unethical and legal/illegal. It then discusses types of morally questionable acts, rationalizations managers may use, and problems with laws not accurately reflecting societal ethics. The document concludes by offering strategies for establishing ethical responsibility, including codes of conduct and balancing social responsibility with business decisions in a complex environment where entrepreneurs have opportunities for ethical leadership.
This document provides an overview of key topics in business ethics and the legal environment. It discusses the relationship between ethics and law, and how companies should consider stakeholders and follow ethical principles. It also describes the significance of ethical behavior for business and how laws affect business activities. Finally, it discusses some methods for companies to promote ethical conduct, like incentives, rules, and addressing whistleblowing.
This document discusses ethics and social responsibility in organizations. It addresses individual ethics, managerial ethics across three relationships (firm-employees, employees-firm, firm-other agents), and organizational approaches including codes of ethics. It also covers emerging issues like ethics in IT and leadership. Social responsibility is discussed including stakeholder groups, arguments for and against, and organizational, government, and evaluation approaches. Approaches include defensive, accommodative, and proactive stances.
This document discusses ethics in the workplace. It begins by outlining some basic ethical presuppositions and imperatives like respecting others, helping people, being honest and fair. It then discusses codes of conduct and views on their role and effectiveness. Several workplace ethics dilemmas are presented along with approaches to evaluate ethical decisions. The document emphasizes that ethics is a continual process and companies should lead by example through their leaders' behavior.
Managerial Ethics And Corporate Social Responsibility Sabih Kamran
MGT 201 Helpful Slides For Management Students Of Different Universities In Karachi And All Over Pakistan And World Managerial Ethics And Corporate Social Responsibility
This document outlines key concepts in business ethics including:
- Different ethical perspectives that guide decision making
- How companies can influence their ethics environment
- A process for making ethical decisions involving awareness, judgement, and character
- Issues around corporate social responsibility and managing environmental impacts
It provides learning objectives focused on understanding ethics, corporate social responsibility, and sustainable business practices.
This document discusses ethical decision making and resolving ethical dilemmas. It begins by defining ethical behavior and identifying common myths about business ethics. An ethical dilemma is described as a complex situation with no clear right or wrong answer that involves balancing different interests. The document then outlines several approaches for resolving dilemmas, including using utilitarian, rule-based, and care-based thinking. It also discusses the whistleblowing process and provides a 10-step framework for ethical decision making. Finally, the document analyzes different tests that can be applied to potential decisions, such as considering benefits and costs, and whether the action could withstand public scrutiny.
INTRODUCTION OF BUSINESS ETHICS (3).pptxakshay353895
This document provides an overview of business ethics and related concepts. It defines ethics, personal ethics, business ethics, and accounting ethics. It discusses the relationship between law and ethics. It also covers ethical decision making, principles of personal ethics, and motivation for being ethical. Normative theories in business ethics like utilitarianism, Kantian ethics, and egoism are introduced. The document also discusses how corporations can institutionalize ethics.
الخطوة الأخيرة عند تحضير عرض جماعي
كتابة محضر الاجتماع مع نقاط العمل.
تحديد الموعد النهائي لإنجاز المهمات.
تقسيم المسئولية بالتساوي.
توزيع محضر الاجتماع على الأفراد.
This document discusses project cost planning and definition. It covers cost definition, estimating project life cycle costs, cost budgeting and sources of funds, implications of cost to quality and risk, and cost control. Cost is defined as the price paid for something or the resources expended to achieve an objective. Life cycle costing involves estimating all costs over the full lifespan of a project. Cost budgeting examines sources of funds like profits, borrowing, and equity funding. Cost control requires thorough planning, estimating, accounting, and periodic comparisons to budgets.
This chapter discusses communication and perception in management. It covers the basic perception process, problems with perception, perception of others and self-perception. It also discusses formal and informal communication channels, coaching and counseling, nonverbal communication, and improving communication. The key topics covered are the perception filters that influence how people perceive stimuli, attribution theory which explains how people explain the behavior of others, and the formal and informal channels used in organizations to communicate.
The document discusses various aspects of control processes in management. It begins by outlining the basic steps in the control process, including establishing standards, comparing performance to standards, and taking corrective action. It then discusses different types of control, such as feedback, concurrent, and feedforward control. Specific control mechanisms are also examined, including objective control techniques like behavior control and output control. The document also covers accounting tools for financial control like budgets, financial statements, ratios, and economic value added. Non-financial aspects of control like customer retention and quality are briefly addressed.
The document discusses various leadership theories and styles. It contrasts managers with leaders, noting that leaders focus on long-term goals and change while managers focus on short-term goals and maintaining the status quo. Several leadership theories are summarized, including path-goal theory, situational leadership theory, and normative decision theory. Leadership styles like directive, supportive, and participative are also discussed.
The document discusses the human resource management process and its key components. It covers human resource planning including forecasting workforce needs and demand. It also discusses recruiting and selection methods like interviews, tests and background checks. The document provides guidelines for conducting structured interviews and evaluating applicants. It discusses complying with employment laws regarding discrimination and harassment.
This document summarizes key aspects of global business discussed in Chapter 8. It discusses three main topics:
1. What is global business? It involves the buying and selling of goods and services between people in different countries. Major forms include multinational corporations and direct foreign investment.
2. Major trade agreements and trade barriers. Agreements like GATT/WTO, NAFTA, and the EU help reduce barriers and promote trade. However, barriers like tariffs and quotas still exist in some cases.
3. Factors companies consider when expanding globally. These include access to growing markets, optimal locations for facilities, and minimizing political risk. Companies must also choose between consistency across countries or local adaptation.
This document summarizes key aspects of innovation management and managing change. It discusses technology cycles and how innovations occur in discontinuous jumps or through incremental improvements. It also outlines approaches to managing innovation, such as through experiential or compression methods. When it comes to managing change, the document discusses the forces driving change and ways to reduce resistance to change, like gaining support and involvement from stakeholders.
The document discusses strategies for achieving sustainable competitive advantage. It explains that sustainable competitive advantage requires resources that are valuable, rare, imperfectly imitable, and non-substitutable. It also outlines the strategy-making process of assessing need for change, conducting a situational analysis, and choosing strategic alternatives. Key corporate and industry-level strategies are also summarized such as the BCG matrix, grand strategies, Porter's five forces, and positioning strategies.
The document discusses various aspects of the planning process. It defines planning as a managerial activity that involves defining goals, strategies, and plans. There are different types of planning - informal planning is short-term and specific to a unit, while formal planning is long-term and organization-wide. Planning provides direction, reduces uncertainty, and sets standards for control. The benefits of planning include creating strategies, intensifying effort, providing direction and persistence. Potential pitfalls include detaching planners from reality, impeding change, and creating a false sense of certainty. Effective planning involves setting goals, developing commitment, effective action plans, tracking progress, and maintaining flexibility. Rational decision making is discussed as a defined process of problem identification, criteria
This document discusses characteristics of changing external environments that organizations face. It covers four aspects of environmental change: environmental change, environmental complexity, resource scarcity, and uncertainty. It then describes the general external environment and specific external environment. The general environment includes economic, technological, sociocultural, and political/legal trends. The specific environment includes customers, competitors, suppliers, industry regulations, and advocacy groups. It emphasizes the importance of environmental scanning, interpreting factors, and acting on threats and opportunities in changing environments.
The document provides an overview of the history and evolution of management theories from early skilled labor and family work to modern scientific management principles. It discusses key figures like Taylor who developed scientific management, the Gilbreths' studies of motion and time, management theorists like Fayol and Weber who developed bureaucratic structures, as well as human relations theorists like Follett, Mayo, and Barnard who emphasized treating workers well and the social aspects of organizations. The document also covers later developments in operations, information, systems, and contingency management approaches.
The document discusses key concepts in management. It defines management as getting work done through others and achieving effectiveness and efficiency. The four main management functions are identified as planning, organizing, leading, and controlling. Planning involves determining goals and how to achieve them. Organizing is deciding roles, responsibilities, and reporting structures. Leading includes motivating and inspiring others. Controlling monitors progress and ensures goals are met. Different levels of management such as top, middle, and first-line managers are outlined along with their typical roles and responsibilities.
Designing and Sustaining Large-Scale Value-Centered Agile Ecosystems (powered...Alexey Krivitsky
Is Agile dead? It depends on what you mean by 'Agile'. If you mean that the organizations are not getting the promised benefits because they were focusing too much on the team-level agile "ways of working" instead of systemic global improvements -- then we are in agreement. It is a misunderstanding of Agility that led us down a dead-end. At Org Topologies, we see bright sparks -- the signs of the 'second wave of Agile' as we call it. The emphasis is shifting towards both in-team and inter-team collaboration. Away from false dichotomies. Both: team autonomy and shared broad product ownership are required to sustain true result-oriented organizational agility. Org Topologies is a package offering a visual language plus thinking tools required to communicate org development direction and can be used to help design and then sustain org change aiming at higher organizational archetypes.
Originally presented at XP2024 Bolzano
While agile has entered the post-mainstream age, possibly losing its mojo along the way, the rise of remote working is dealing a more severe blow than its industrialization.
In this talk we'll have a look to the cumulative effect of the constraints of a remote working environment and of the common countermeasures.
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...Dr. Nazrul Islam
Healthy economic development requires properly managing the banking industry of any
country. Along with state-owned banks, private banks play a critical role in the country's economy.
Managers in all types of banks now confront the same challenge: how to get the utmost output from
their employees. Therefore, Performance appraisal appears to be inevitable since it set the
standard for comparing actual performance to established objectives and recommending practical
solutions that help the organization achieve sustainable growth. Therefore, the purpose of this
research is to determine the effect of performance appraisal on employee motivation and retention.
From Concept to reality : Implementing Lean Managements DMAIC Methodology for...Rokibul Hasan
The Ready-Made Garments (RMG) industry in Bangladesh is a cornerstone of the economy, but increasing costs and stagnant productivity pose significant challenges to profitability. This study explores the implementation of Lean Management in the Sampling Section of RMG factories to enhance productivity. Drawing from a comprehensive literature review, theoretical framework, and action research methodology, the study identifies key areas for improvement and proposes solutions.
Through the DMAIC approach (Define, Measure, Analyze, Improve, Control), the research identifies low productivity as the primary problem in the Sampling Section, with a PPH (Productivity per head) of only 4.0. Using Lean Management techniques such as 5S, Standardized work, PDCA/Kaizen, KANBAN, and Quick Changeover, the study addresses issues such as pre and post Quick Changeover (QCO) time, improper line balancing, and sudden plan changes.
The research employs regression analysis to test hypotheses, revealing a significant correlation between reducing QCO time and increasing productivity. With a regression equation of Y = -0.000501X + 6.72 and an R-squared value of 0.98, the study demonstrates a strong relationship between the independent variables (QCO downtime and improper line balancing downtime) and the dependent variable (productivity per head).
The findings suggest that by implementing Lean Management practices and addressing key productivity inhibitors, RMG factories can achieve substantial improvements in efficiency and profitability. The study provides valuable insights for practitioners, policymakers, and researchers seeking to enhance productivity in the RMG industry and similar manufacturing sectors.
Small Business Management An Entrepreneur’s Guidebook 8th edition by Byrd tes...ssuserf63bd7
Small Business Management An Entrepreneur’s Guidebook 8th edition by Byrd test bank.docx
https://qidiantiku.com/test-bank-for-small-business-management-an-entrepreneurs-guidebook-8th-edition-by-mary-jane-byrd.shtml
A comprehensive-study-of-biparjoy-cyclone-disaster-management-in-gujarat-a-ca...Samirsinh Parmar
Disaster management;
Cyclone Disaster Management;;
Biparjoy Cyclone Case Study;
Meteorological Observations;
Best practices in Disaster Management;
Synchronization of Agencies;
GSDMA in Cyclone disaster Management;
History of Cyclone in Arabian ocean;
Intensity of Cyclone in Gujarat;
Cyclone preparedness;
Miscellaneous observations - Biparjoy cyclone;
Role of social Media in Disaster Management;
Unique features of Biparjoy cyclone;
Role of IMD in Biparjoy Prediction;
Lessons Learned; Disaster Preparedness; published paper;
Case study; for disaster management agencies; for guideline to manage cyclone disaster; cyclone management; cyclone risks; rescue and rehabilitation for cyclone; timely evacuation during cyclone; port closure; tourism closure etc.
Colby Hobson: Residential Construction Leader Building a Solid Reputation Thr...dsnow9802
Colby Hobson stands out as a dynamic leader in the residential construction industry. With a solid reputation built on his exceptional communication and presentation skills, Colby has proven himself to be an excellent team player, fostering a collaborative and efficient work environment.
Leading Change_ Unveiling the Power of Transformational Leadership Style.pdfEnterprise Wired
In this comprehensive guide, we delve into the essence of transformational leadership style, its core principles, key characteristics, and its transformative impact on organizational culture and outcomes.
Project Management Infographics . Power point projetSAMIBENREJEB1
Project Management Infographics ces modèle power Point peut vous aider a traiter votre projet initiative pour le gestion de projet. Essayer dès maintenant savoir plus c'est quoi le diagramme gant et perte, la durée de vie d'un projet , ainsi que les intervenants d'un projet et le cycle de projet . Alors la question c'est comment gérer son projet efficacement ? Le meilleur planning et l'intelligence sont les fondamentaux de projet
Areas of unethical behavior are: authority and power, handling information, influencing the behavior of others, and setting goals.
Unethical management behavior occurs when managers personally violate accepted principles of right and wrong. The authority and power inherent in some management positions can tempt managers to engage in unethical practices. Since managers often control company resources, there is a risk that some managers will cross over the line from legitimate use of company resources to personal use of those resources. For example, some managers have used corporate funds to pay for extravagant parties, lavish home decorating, jewelry, or expensive pieces of art.
Handling information is another area in which managers must be careful to behave ethically. Information is a key part of management work. Managers collect it, analyze it, act on it, and disseminate it. However, they are also expected to deal in truthful information and, when necessary, to keep confidential information confidential. Leaking company secrets to competitors, "doctoring" the numbers, wrongfully withholding information, or lying are some possible misuses of the information entrusted to managers.
A third area in which managers must be careful to engage in ethical behavior is the way in which they influence the behavior of others, especially those they supervise. Managerial work gives managers significant power to influence others. If managers tell employees to perform unethical acts (or face punishment), such as “faking the numbers to get results,” then they are abusing their managerial power. This is sometimes called the “move it or lose it” syndrome. “Move it or lose it” managers tell employees, “Do it. You’re paid to do it. If you can’t do it, we’ll find somebody who can.”
Setting goals is another way that managers influence the behavior of their employees. If managers set unrealistic goals, the pressure to perform and to achieve these goals can influence employees to engage in unethical business behaviors.
Depending on which study you look at, one-third to three-quarters of all employees admit that they have stolen from their employers or committed computer fraud, embezzled funds, vandalized company property, sabotaged company projects, or been “sick” from work when they weren’t sick. Experts estimate that unethical behaviors like these, which researchers call “workplace deviance,” may cost companies as much as $660 billion a year—roughly 6 percent of their revenues. Workplace deviance is unethical behavior that violates organizational norms about right and wrong.
Workplace deviance can be categorized by how deviant the behavior is, from minor to serious, and by the target of the deviant behavior, either the organization or particular people in the workplace. This is demonstrated in Exhibit 4.1 and shown in one of the following slides.
Types of workplace deviance are:
Production deviance hurts the quality and quantity of work produced. Examples are: leaving early, taking long breaks, purposely working slower, or intentionally wasting resources
Property deviance is unethical behavior aimed at company property.Examples are: sabotaging, stealing, damaging equipment, or overcharging for services and pocketing the difference. Shrinkage is theft of company merchandise by employees, and costs U.S. retailers $15.8 billion a year.
Political deviance is using one’s influence to harm others in the company.Examples are favoritism in decision making, spreading rumors about coworkers, or falsely blaming mistakes on others.
Personal aggression is hostile or aggressive behavior toward others, and includes sexual harassment, verbal abuse, stealing from coworkers, and workplace violence. A former Navistar employee forced his way into a Chicago factory and killed four people after firing 30 shots from an AK-47. The day after Christmas, an employee of Edgewater Technology walked into the accounting department and shot seven people dead. In the worst mass murder in Hawaii’s history, a frustrated copier repairman killed seven people outside a parts warehouse in Honolulu. More than 2 million Americans are victims of workplace violence each year.
Former WorldCom CEO Bernard Ebbers is pictured here arriving at court, where he was eventually found guilty of fraud, conspiracy, and filing false documents, which led to the massive $11 billion accounting fraud at the telecommunications carrier. Ebbers faces up to 85 years in prison.
Historically, if management was unaware of such activities, the company could not be held responsible for an employee’s unethical acts. However, under the 1991 U.S. Sentencing Commission Guidelines, companies can be prosecuted and punished even if management didn’t know about the unethical behavior. Moreover, penalties can be substantial, with maximum fines approaching $300 million dollars!
The next slides examine who the guidelines apply to and what they cover, and how, according to the guidelines, an organization can be punished for the unethical behavior of its managers and employees.
Nearly all businesses, nonprofits, partnerships, labor unions, unincorporated organizations and associations, incorporated organizations, and even pension funds, trusts, and joint stock companies are covered by the guidelines. If your organization can be characterized as a business (remember, nonprofits count too), then it is subject to the guidelines.
The guidelines cover federal laws such as invasion of privacy, price fixing, fraud, customs violations, antitrust violations, civil rights violations, theft, money laundering, conflict of interest, embezzlement, dealing in stolen goods, copyright infringements, extortion, and more. However, it’s not enough to stay “within the law.” The purpose of the guidelines is not just to punish companies after they or their employees break the law. The purpose is to encourage companies to take proactive steps that will discourage or prevent white-collar crime before it happens. The guidelines also give companies an incentive to cooperate with and disclose illegal activities to federal authorities.
The guidelines impose smaller fines on companies that take proactive steps to encourage ethical behavior or voluntarily disclose illegal activities to federal authorities. Essentially, the law uses a “carrot-and-stick” approach. The stick is the threat of heavy fines that can total millions of dollars. The carrot is greatly reduced fines, but only if the company has started an effective compliance program (discussed below) to encourage ethical behavior before the illegal activity occurs.
The first step is computing the base fine by determining what level offense has occurred. The level of the offense (i.e., the seriousness of the problem) is figured by examining the kind of crime, the loss incurred by the victims, and how much planning went into the crime.
After assessing a base fine, the judge computes a culpability score, which is a way of assigning blame to the company. Higher culpability scores suggest greater corporate responsibility in conducting, encouraging, or sanctioning illegal or unethical activity. The culpability score is a number ranging from a minimum of 0.05 to a maximum of 4.0.
The culpability score is critical, because the total fine is computed by multiplying the base fine by the culpability score. Going back to our level 24 fraud offense, a company with a compliance program that turns itself in will only be fined $105,000 ($2,100,000 x 0.05). However, a company that secretly plans, approves, and participates in illegal activity will be fined $8.4 million ($2,100,000 x 4.0)!
Source: D.R. Dalton, M.B. Metzger, & J.W. Hill, “The ‘New’ U.S. Sentencing Commission Guidelines: A Wake-up Call for Corporate America,” Academy of Management Executive 8 (1994): 7-16.
Fortunately, for those who want to avoid paying these stiff fines, the 1991 U.S. Sentencing Guidelines are clear on the seven necessary components of an effective compliance program.
The guidelines are listed on this slide.
While some ethical issues are easily solved, for many there are no clearly right or wrong answers. The ethical answers that managers choose depend on the ethical intensity of the decision, the moral development of the manager, and the ethical principles used to solve the problem.
Managers don’t treat all ethical decisions the same. The manager who has to decide whether to deny or extend full benefits to Joan Addessi and her family is going to treat that decision much more seriously than the manager who has to deal with an assistant who has been taking computer diskettes home for personal use. The difference between these decisions is one of ethical intensity, which is how concerned people are about an ethical issue.
Magnitude of consequences is the total harm or benefit derived from an ethical decision.
Social consensus is agreement on whether behavior is bad or good.
Probability of effect is the chance that something will happen and then result in harm to others.
Temporal immediacy is the time between an act and the consequences the act produces.
Proximity of effect is the social, psychological, cultural, or physical distance of a decision maker to those affected by his or her decisions.
Finally, whereas the magnitude of consequences is the total effect across all people, concentration of effect is how much an act affects the average person.
In part, according to Lawrence Kohlberg, ethical decisions are based on a person’s level of moral development. Kohlberg identified three phases of moral development, with two stages in each phase.
At the preconventional level of moral development, people decide based on selfish reasons. For example, if you were in Stage 1, the punishment and obedience stage, your primary concern would be not to get in trouble. Yet, in Stage 2, the instrumental exchange stage, you make decisions that advance your wants and needs.
People at the conventional level of moral development make decisions that conform to societal expectations. In Stage 3, the good boy--nice girl stage, you normally do what the other “good boys” and “nice girls” are doing. In the law and order stage, Stage 4, you do whatever the law permits.
People at the post conventional level of moral maturity always use internalized ethical principles to solve ethical dilemmas. In Stage 5, the social contract stage, you would consider the effects of your decision on others. In Stage 6, the universal principle stage, you make ethical decisions based on your principles of right and wrong.
According to Professor Larue Hosmer, a number of different ethical principles can be used to make business decisions: long-term self-interest, personal virtue, religious injunctions, government requirements, utilitarian benefits, individual rights, and distributive justice. What these ethical principles have in common is that they encourage managers and employees to take others’ interests into account when making ethical decisions. At the same time, however, these principles can lead to very different ethical actions.
Each of these principles are examined individually on the following slides.
While it sounds as if the principle of self-interest promotes selfishness, it doesn’t. What we do to maximize our long-term interests (save more, spend less, exercise every day, watch what we eat) is often very different from what we do to maximize short-term interests (max out our credit cards, be a couch potato, eat whatever we want).
The principle of personal virtue holds that you should never do anything that is not honest, open, and truthful, and that you would not be glad to see reported in the news media.
The major issues here are compassion and kindness.
The law provides the basic ethical guidelines for people.
The needs of the many out weigh the needs of few. This is a cost benefit for all those affected by the decision.
Here one considers those affected by this decision and tries to find a solution that does not sacrifice the rights of any of the affected persons.
This principle is designed to protect the poor, the uneducated, and the unemployed.
As stated at the beginning of this chapter, one of the “real world” aspects of ethical decisions is that no matter what you decide, someone or some group will be unhappy with the decision. This corollary is also true: No matter how you decide, someone or some group will be unhappy. Consequently, despite the fact that all of these different ethical principles encourage managers to balance others’ needs against their own, they can also lead to very different ethical actions. So, even when managers strive to be ethical, there are often no clear answers when it comes to doing “the” right thing.
Managers can encourage more ethical decision making in their organizations by carefully selecting and hiring new employees, establishing a specific code of ethics, training employees how to make ethical decisions, and creating an ethical climate.
Overt integrity tests estimate employee honesty by directly asking job applicants what they think or feel about theft or about punishment of unethical behaviors. For example, an employer might ask an applicant, “Do you think you would ever consider buying something from somebody if you knew the person had stolen the item?” or “Don’t most people steal from their companies?” Surprisingly, because they believe that the world is basically dishonest and that dishonest behavior is normal, unethical people will usually answer yes to such questions.
Personality-based integrity tests indirectly estimate employee honesty by measuring psychological traits such as dependability and conscientiousness. For example, prison inmates serving time for white-collar crimes (counterfeiting, embezzlement, and fraud) scored much lower than a comparison group of middle-level managers on scales measuring reliability, dependability, honesty, and being conscientious and rule-abiding. These results show that companies can selectively hire and promote people who will be more ethical.
Under the 1991 U.S. Sentencing Commission Guidelines, unethical employee behavior can lead to multimillion dollar fines. Workplace deviance costs companies $660 billion a year. One way to reduce workplace deviance and the chance of fines for unethical behavior is to use overt and personality-based integrity tests to screen job applicants. The studies, shown below, indicate that integrity tests help companies reduce workplace deviance, and help companies hire workers who are better performers.
However, it is possible to improve scores through coaching and faking. To avoid this, tight security and close scrutiny should be maintained over integrity tests.
Workplace Deviance (Counterproductive Behaviors)
Probability of success
Overt Integrity Tests : 82%
Personality-based Integrity Tests 68%
Job Performance
Overt Integrity Tests 69%
Personality-based Integrity Tests70%
Theft
Overt Integrity Tests 57%
Today, 90 percent of large corporations have an ethics code in place. However, two things must happen if those codes are to encourage ethical decision making and behavior. First, companies must communicate the codes to others both within and outside the company.
An excellent example of a well-communicated code of ethics can be found at Nortel Networks Internet site, at http://www.nortelnetworks.com. With the click of a computer mouse, anyone inside or outside the company can obtain detailed information about the company’s core values, specific ethical business practices, and much more.
Second, in addition to general guidelines and ethics codes like “do unto others as you would have others do unto you,” management must also develop practical ethical standards and procedures specific to the company’s line of business. Visitors to Nortel’s Internet site can instantly access references to specific ethics codes, ranging from bribes and kickbacks to expense vouchers and illegal copying of software.
Specific codes of ethics such as these make it much easier for employees to decide what they should do when they want to do the “right thing.”
The first objective of ethics training is to develop employee awareness about ethics. This means helping employees recognize what issues are ethical issues, and then avoid the rationalization of unethical behavior: “This isn’t really illegal or immoral.” “No one will ever find out.”
The second objective for ethics training programs is to achieve credibility with employees. Not surprisingly, employees can be highly suspicious of management’s reasons for offering ethics training.
The third objective of ethics training is to teach employees a practical model of ethical decision making. A basic model should help them think about the consequences their choices will have on others and consider how they will choose between different solutions. This model is shown on the next slide.
Source: L.A. Berger, “Train All Employees to Solve Ethical Dilemmas,” Best’s Review--Life-Health Insurance Edition 95 (1995):70-80.
Identify the problem. What makes it an ethical problem? Think in terms of rights, obligations, fairness, relationships, and integrity. How would you define the problem if you stood on the other side of the fence?
2. Identify the constituents. Who has been hurt? Who could be hurt? Who could be helped? Are they willing players, or are they victims? Can you negotiate with them?
3. Diagnose the situation. How did it happen in the first place? What could have prevented it? Is it going to get worse or better? Can the damage now be undone?
4. Analyze your options. Imagine the range of possibilities. Limit yourself to the two or three most manageable. What are the likely outcomes of each? What are the likely costs? Look to the company mission statement or code of ethics for guidance.
5. Make your choice. What is your intention in making this decision? How does it compare with the probable results? Can you discuss the problem with the affected parties before you act? Could you disclose without qualm your decision to your boss, the CEO, the board of directors, your family or society as a whole?
6. Act. Do what you have to do. Don't be afraid to admit errors. Be as bold in confronting a problem as you were in causing it.
The first step in establishing an ethical climate is for managers—especially top managers-- to act ethically themselves. Managers who decline to accept lavish gifts from company suppliers; who only use the company phone, fax, and copier for business and not personal use; or who keep their promises to employees, suppliers, and customers encourage others to believe that ethical behavior is normal and acceptable.
A second step in establishing an ethical climate is for top management to be active in the company ethics program.
A third step is to put in place a reporting system that encourages managers and employees to report potential ethics violations. Whistleblowing, reporting others’ ethics violations, is a difficult step for most people to take. Potential whistleblowers often fear that they will be punished rather than the ethics violators.
The final step in developing an ethical climate is for management to fairly and consistently punish those who violate the company’s code of ethics.
There are two perspectives on to whom organizations are socially responsible: the shareholder model and the stakeholder model. According to Nobel prize-winning economist Milton Friedman, the only social responsibility that organizations have is to satisfy their owners, that is, company shareholders. This view--called the shareholder model--holds that the only social responsibility that businesses have is to maximize profits. By maximizing profit, the firm maximizes shareholder wealth and satisfaction. More specifically, as profits rise, the company stock owned by company shareholders generally increases in value.
By contrast, under the stakeholder model, management’s most important responsibility is long-term survival (not just maximizing profits), which is achieved by satisfying the interests of multiple corporate stakeholders (not just shareholders). Stakeholders are people or groups with a legitimate interest in a company. Since stakeholders are interested in and affected by the organization's actions, they have a "stake" in what those actions are. Consequently, stakeholder groups may try to influence the firm to act in their own interests.
Friedman argues that it is socially irresponsible for companies to divert their time, money, and attention from maximizing profits to social causes and charitable organizations. The first problem he sees is that organizations cannot act effectively as moral agents for all company shareholders. While shareholders are likely to agree on investment issues concerning a company, it is highly unlikely that they possess common views on what social causes a company should or should not support.
The second major problem, according to Friedman, is that the time, money, and attention diverted to social causes undermine market efficiency. In competitive markets, companies compete for raw materials, talented workers, customers, and investment funds. Spending money on social causes means there is less money to purchase quality materials or to hire talented workers who can produce a valuable product at a good price. If customers find the product less desirable, sales and profits will fall. If profits fall, stock prices will decrease and the company will have difficulty attracting investment funds that could be used to fund long-term growth. In the end, Friedman argues, diverting the firm’s money, time, and resources to social causes hurts customers, suppliers, employees, and shareholders.
Some stakeholders are more important to the firm’s survival than others.
Primary stakeholders are groups, such as shareholders, employees, customers, suppliers, governments, and local communities, on which the organization depends for long-term survival. So when managers are struggling to balance the needs of different stakeholders, the stakeholder model suggests that the needs of primary stakeholders take precedence over the needs of secondary stakeholders. However, contrary to the shareholder model, no primary stakeholder group is more or less important than another, since all are critical to the firm’s success and survival. So managers must try to satisfy the needs of all primary stakeholders.
Secondary stakeholders, such as the media and special interest groups, can influence or be influenced by the company. Yet in contrast to primary stakeholders, they do not engage in regular transactions with the company and are not critical to its long-term survival. Consequently, meeting the needs of primary stakeholders is usually more important than meeting the needs of secondary stakeholders. While not critical to long-term survival, secondary stakeholders are still important, because they can affect public perceptions and opinions about socially responsible behavior.
A century ago, society expected businesses to meet their economic and legal responsibilities and little else. Today, however, when society judges whether businesses are socially responsible, ethical and discretionary responsibilities are considerably more important than they used to be.
Historically, economic responsibility, making a profit by producing a product or service valued by society, has been a business’s most basic social responsibility. Organizations that don’t meet their financial and economic expectations come under tremendous pressure.
Legal responsibility is the expectation that companies will obey a society’s laws and regulations as they try to meet their economic responsibilities.
Ethical responsibility is society’s expectation that organizations will not violate accepted principles of right and wrong when conducting their business. Because different stakeholders may disagree about what is or is not ethical, meeting ethical responsibilities is more difficult than meeting economic or legal responsibilities.
Discretionary responsibilities pertain to the social roles that businesses play in society beyond their economic, legal, and ethical responsibilities.
The model of social responsiveness, shown in Exhibit 4.10, identifies four strategies for responding to social responsibility problems: reactive, defensive, accommodative, and proactive. These strategies differ in the extent to which the company is wiling to act to meet or exceed society’s expectations.
One question that managers often ask is, “Does it pay to be socially responsible?” While this is an understandable question, asking whether social responsibility pays is a bit like asking if giving to your favorite charity will help you get a better-paying job. The obvious answer is no. There is not an inherent relationship between social responsibility and economic performance. However, this doesn’t stop supporters of corporate social responsibility from claiming a positive relationship.
In the end, if company management chooses a proactive or accommodative strategy toward social responsibility (rather than a defensive or reactive strategy), it should do so because it wants to benefit society and its corporate stakeholders, not because it expects a better financial return.