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Chapter Two

PRIDE HUGHES KAPOOR INTRODUCTION TO BUSINESS ELEVENTH EDITION. Chapter Two. Ethics and Social Responsibility. 2 | 1. Learning Objectives. Understand what is meant by business ethics Identify the types of ethical concerns that arise in the business world

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Chapter Two

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  1. PRIDE HUGHES KAPOOR INTRODUCTION TO BUSINESS ELEVENTH EDITION Chapter Two Ethics and Social Responsibility 2 | 1

  2. Learning Objectives • Understand what is meant by business ethics • Identify the types of ethical concerns that arise in the business world • Discuss the factors that affect the level of ethical behavior in organizations • Explain how ethical decision making can be encouraged • Describe how our current views on the social responsibility of business have evolved • Explain the two views on the social responsibility of business and understand the arguments for and against increased social responsibility

  3. Learning Objectives (cont’d) • Discuss the factors that led to the consumer movement and list some of its results • Analyze how present employment practices are being used to counteract past abuses • Describe the major types of pollution, their causes, and their cures • Identify the steps a business must take to implement a program of social responsibility 2 | 3

  4. Business Ethics Defined • Define Ethics and Business Ethics • Know and be able to discuss the principal business ethics issues • Fairness and Honesty • Organizational Relationships • Conflict of Interest • Communications 2 | 4

  5. Factors Affecting Ethical Behavior • Be able to discuss the three factors affecting ethical behavior • Individual Factors • Social Factors • Opportunity • What influences are at play in each of these factors? 2 | 5

  6. Encouraging Ethical Behavior • Be able to discuss ways of encouraging ethical behavior • External to a specific organization • Within an organization • Code of ethics • Organizational environment • Whistle-blowing • How do firms define acceptable behavior? 2 | 6

  7. Social Responsibility • What is Social Responsibility? • How is it different from ethics? • Why is it good business? • What are the Guidelines for Making Ethical Decisions? (Five steps) 2 | 7

  8. The Evolution of Social Responsibility in Business • Be able to discuss the evolution of social responsibility in business • Early 1900s • What does Caveat Emptor mean? What does it have to do with social responsibility? • What was the prevailing view on the importance of social responsibility? • The Great Depression and Beyond • What happened during the 20th and 21st centuries to change views on government responsibility and social responsibility? 2 | 8

  9. Two Views of Social Responsibility • Be able to compare and contrast the two views of social responsibility • Economic Model • Socioeconomic Model • What are the primary emphases of each model? • What are differences between the two? 2 | 9

  10. Social Responsibility and Consumerism • Be able to discuss the principal arguments for and against increased social responsibility that are outlined in the book • Why is there no consensus on the importance of social responsibility in business? • Define Consumerism • What are the Six Basic Rights of Consumers? • Be able to name and discuss the importance of the major 20th century legislation protecting consumers 2 | 10

  11. Major Federal Legislation Protecting Consumers Since 1960 • Federal Hazardous Substances Labeling Act (1960) • Kefauver-Harris Drug Amendments (1962) • Cigarette Labeling Act (1965) • Fair Packaging and Labeling Act (1966) • Motor Vehicle Safety Act (1966) • Truth in Lending Act (1968) • Credit Card Liability Act (1970) • Fair Credit Reporting Act (1971) • Consumer Product Safety Commission Act (1972) • Fair Credit Billing Act (1974) • Equal Credit Opportunity Act (1974) • Magnuson-Moss Warranty-Federal Trade Commission Act (1975) • Amendments to Equal Credit Opportunity Act (1976, 1994) • Fair Debt Collection Practices Act (1977) • Nutrition Labeling and Education Act (1990) • Telephone Consumer Protection Act (1991) • Consumer Credit Reporting Reform Act (1997) • Children’s Online Privacy Protection Act (2000) • Do Not Call Implementation Act (2003) • Credit Card Accountability, Responsibility, and Disclosure Act (2009) 2 | 11

  12. Employment Practices • How have employment practices changed since the mid-20th century? • How has the workforce changed? • What laws exist to protect workers? • What abuses are still problematic? 2 | 12

  13. Employment Practices • Define Minority • How do Income Levels differ between different ethnic groups and men and women? • What is Affirmative Action? • What does it seek to achieve? • What are the downsides? • Who are the Hardcore Unemployed? • What programs exist to help this group? 2 | 13

  14. Concern for the Environment • Define • Water Pollution • Air Pollution • Land Pollution • Noise Pollution • What is the Environmental Protection Agency (EPA)? • Be able to discuss what safeguarding the environment requires • Be able to list and describe the most important environmental laws 2 | 14

  15. Major Environmental Laws • National Environmental Policy Act (1970) • Clean Air Amendment (1970) • Water Quality Improvement Act (1970) • Resource Recovery Act (1970) • Water Pollution Control Act Amendment (1972) • Noise Control Act (1972) • Clean Air Act Amendment (1977) • Resource Conservation and Recovery Act (1984) • Clean Air Act Amendment (1987) • Oil Pollution Act (1990) • Clean Air Act Amendments (1990) • Food Quality Protection Act (1996) • American Recovery and Reinvestment Act (2009) 2 | 15

  16. Who Should Pay for a Clean Environment? • Who pays for pollution clean-ups? • Who should pay? • Why is preventing pollution so problematic? • Is paying for a clean environment a cost of doing business or not? • Should consumers be responsible for cleaning up the environment? 2 | 16

  17. Implementing a Program of Social Responsibility • Discuss the steps that go into developing a program of social responsibility for an organization • How are social responsibility initiatives funded? 2 | 17

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