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Business ethics and business policy

Business ethics and business policy. Introduction to the field. Business, Society, and the 21st Century key point: success tied to stakeholders. key point: success tied to B/G/S relationships. the Exxon example (text) GM example (text and class) Peregrine example (class).

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Business ethics and business policy

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  1. Business ethics and business policy Introduction to the field

  2. Business, Society, and the 21st Century • key point: success tied to stakeholders

  3. key point: success tied to B/G/S relationships • the Exxon example (text) • GM example (text and class) • Peregrine example (class)

  4. What is B/G/S relationship based on? • Market capitalism model • Dominance model • Dynamic forces model • Stakeholder model

  5. Exxon Valdez • World’s biggest company • Company’s biggest ship • Who is the Captain Hazelwood???

  6. Business Ethics and Poliicy WHY DID GM LOSE GROUND??

  7. neglect of stockholders?according to this course, not that simple neglect of stakeholders

  8. GM

  9. outside forces GM ignored - eg: (ask yourself: why important?) Rosa XXXXX Sheik XXXXXX Ralph XXXXX Eiji XXXXXX Rachel XXXXXX Ross XXXXX John Z. XxXXXXXX

  10. stakeholder concept A key idea of course. not just stockholders!

  11. Primary stakeholders??? Etc. Employees (Delorean) GM Competitors (Toyota, etc.) Suppliers (oil companies?) Customers (wine and cheese types like you and me!)

  12. Secondary stakeholders??? Communities (Flint Michigan) Foreign Governments (Yamani..) GM General public (wine & cheese types again!) Social activists (Ralph, Rosa, Rachel) Media (TV, including C-Span)

  13. Shaping B.S. relations • 1. Strategic, social challenges • 2. Ethical expectations, values • 3. Global changes • 4. Changing role of government • 5. Ecology, resource concerns

  14. 1-7 Six major forces shaping business-society relations Global economic change Changing role of government and public policy Business and its stakeholders Ethical expectations and public values Strategic and social challenges Ecological and natural resource concerns Technology and new knowledge

  15. Who are the stakeholders in YOUR firm?? • Who are the stakeholders in INLAND NATIONAL BANK????

  16. Primary stakeholders??? . Employees INB Competitors Suppliers Customers

  17. Secondary stakeholders??? Foreign Governments Communities INB General Public Social Activists Media

  18. Note…. • distinction between primary and secondary not clear, not distinct

  19. Peregrine

  20. Poor Peregrine! • What is (was) Peregrine? • What went wrong? • Who got hurt?

  21. employees, families Asia Inc., and others on list poor Suharto and family general public (economy suffers) stockholders, partners HKUST students who are now poorer worried German investors Peregrine banks, creditors clients, investors competitors (more business, less confidence) government: less income,more demand taxi firms in Indonesia

  22. Peregrine & stakeholder model • Includes many of typical groups leaves out only a few: • religious groups • environmentalists • minorities • the poor • labor unions • political parties, groups

  23. Basic BGS models • market capitalism? OK but a bit simplistic • dominance model: some truth. B&G do run many things, • especially in Indonesia • and in China • and in USA, and . . . • dynamic forces model: text favorite • stakeholder model: JFH favorite??

  24. today’s business environment: • more historical factors • China: no respect for business • 1949: Mao abolishes business • HK thrives as outlet for China • 1978: Deng OKs rural food sales

  25. today’s business environment (continued): • historical factors continued • 1978: Deng OKs rural food sales • no turning back! every year... • HK thrives as port for China • 1997: HK now key Chinese city

  26. the pressure is on:expectations gap!!! strategic & social challenges ethical expectations global changes governments changing too environment

  27. end of Business Environment • Reflect on stakeholder idea: Peregrine Investments Holdings Ltd NEXT: • how Web Assignments will work • begin term paper planning

  28. WEB ASSIGNMENT 1 COMING SOON • OK to practice now! • OK to answer now but read chapters 5 and 6 first

  29. term paper planning • in teams of two, invent two possible topics, and two possible TITLES • you are NOT obligated to keep these titles • you are NOT obligated to keep these topics

  30. web assignment may look like: • Are corporations GOOD or EVIL? Or, in terms from text, do corporations follow idea of corporate social responsibility? • family name begin with A to L: in 150 to 250 words, convince us that corporations DO take social responsibility seriously, Give a HK (or Asia) example to help prove your point. • family name begin with M to Z: in 150 to 250 words, convince us that corporations DO Not take social responsibility seriously, Give a HK (or Asia) example to help prove your point.

  31. web assignment #1 • great to include NAME of example • great to include SOURCE if possible • great to include WWW link if you can do it! • TIME TO DO IT!!! have fun!

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