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Chapter Twelve Ethics and Social Responsibility

Chapter Twelve Ethics and Social Responsibility. After reading this chapter, you should be able to:. Identify the philosophical principles behind business ethics. Explain how values relate to ethics. Identify factors contributing to lax ethics and common ethical temptations and violations.

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Chapter Twelve Ethics and Social Responsibility

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  1. Chapter TwelveEthics and Social Responsibility

  2. After reading this chapter,you should be able to: • Identify the philosophical principles behind business ethics. • Explain how values relate to ethics. • Identify factors contributing to lax ethics and common ethical temptations and violations. • Apply a guide to ethical decision making. • Describe the stakeholder viewpoint of social responsibility and corporate social performance. • Present an overview of social responsibility initiatives. • Summarize the benefits of ethical and socially responsible behavior, and show how managers can create an environment that fosters both.

  3. ENRON • TYCO

  4. NEW TARGETS

  5. NEW ISSUES

  6. Philosophical Principles of Business Ethics Consequences - If no one gets hurt, the decision is ethical. When attempting to decide what is right and wrong, managers can focus on: Duties, obligations, and principles - If a decision violates a universal principle, it is unethical. Integrity - If the person in question has good character, he/she is behaving ethically.

  7. Alternative Views of Ethical Behavior • Utilitarian - greatest good to the greatest number of people • Individualism - primary commitment is to one’s long tem self-interests • Moral-rights - respect the fundamental rights of people • Justice - ethical decisions treat people fairly according to rules

  8. Factors Contributing to Ethical Problems • An individual’s desire to maximize self-gain at the expense of others • An organizational atmosphere that condones unethical behavior • Moral laxity - slippage in moral behavior because other issues seem more important • Pressure from higher management to achieve organizational goals • Strength of relationships among people

  9. Ethical Temptations and Violations Stealing from employers & customers Corporate espionage Misuse of corporate resources Misuse of corporate resources Treating people unfairly Poor cyberethics Divulging confidential information Conflict of interest

  10. A Guide to Ethical Decision Making • Is it right? • Is it fair? • Who gets hurt? • Would you be comfortable if the details of your decision were reported on the front page of your newspaper or throughout the company? • Would you tell a child it was OK to do it? • How does it smell?

  11. Internal Stakeholders Owners Stockholders Employees Suppliers Board of Directors Creditors Customers External Stakeholders Labor Unions Competitors Special Interest Groups Government Agencies Customer Groups Financial Institutions

  12. Environmental Management Work/Life Programs Acceptance of Whistle Blowers Social Leaves of Absence Community Redevelopment Projects Compassionate Downsizing Social Responsibility Initiatives

  13. Create formal mechanisms to monitor ethics Provide written codes of conduct Offer training programs Talk about the issues Lead by example Confront ethical deviations Creating an Ethical andSocially Responsible Work Place

  14. ETHICS IN ACTION • Doing Business in Southern China

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