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Ethics and Social Responsibilities

Ethics and Social Responsibilities. What is social responsibility?. Corporate Social Responsibility . Corporate social responsibility: Looks at ethical issues on the organization level.

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Ethics and Social Responsibilities

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  1. Ethics and Social Responsibilities What is social responsibility?

  2. Corporate Social Responsibility • Corporate social responsibility: • Looks at ethical issues on the organization level. • Obligates organizations to act in ways that serve both its own interests and the interests of society at large. Management Fundamentals - Chapter 3

  3. Who’s affected by the actions of a Corporation?

  4. Figure 3.4 Multiple stakeholders in the environment of an organization. Management Fundamentals - Chapter 3

  5. Basic beliefs of social responsibility • People do their best with a balance of work and family life. • Organizations perform best in healthy communities. • Organizations gain by respecting the natural environment. • Organizations must be managed and led for long-term success. • Organizations must protect their reputations. Management Fundamentals - Chapter 3

  6. Views on Corporate Social Responsibility • Classical view— • Management’s only responsibility is to maximize profits. • Socioeconomic view— • Management must be concerned for the broader social welfare, not just profits. Management Fundamentals - Chapter 3

  7. Points Against Social Responsibility:

  8. Points Against Social Responsibility: • Reduced business profits • Higher business costs • Conflict with business purpose Management Fundamentals - Chapter 3

  9. Points For Social Responsibility:

  10. Points For Social Responsibility: • Adds long-run profits • Improves public image • Avoids more government regulation • Businesses have resources and ethical obligation Management Fundamentals - Chapter 3

  11. Figure 3.5 Criteria for evaluating corporate social performance. Management Fundamentals - Chapter 3

  12. Four Strategies Of Corporate Social Responsibility Management Fundamentals - Chapter 3

  13. Organizations And Governments • Government regulations dealing with business affairs: • Occupational safety and health • Fair labor practices • Consumer protection • Environmental protection Management Fundamentals - Chapter 3

  14. Organizations And Governments • How organizations influence governments: • Personal contacts and networks • Public relations campaigns • Lobbying • Political action committees • Sometimes by illegal acts, such as bribery or illegal financial contributions to political campaigns Management Fundamentals - Chapter 3

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