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Slide1
©2013
Cengage
Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Slide2
Business Ethics and Social Responsibility:
Doing Well By Doing Good
2
LO
1
What is ethics?
What are the universal ethics standards?
LO
2
What are business ethics? What is an ethical dilemma?
LO
3
How does ethics relate to the individual and the organization?
LO
4
What is social responsibility and how does it impact stakeholder groups?
LO
5
What is the role of social
responsibility in the global arena?
LO
6
How do companies evaluate their efforts to be socially responsible?Slide3
Ethics & Social Responsibility:
A Close Relationship
3
ETHICS
Beliefs about
right and wrong
SOCIAL
RESPONSIBILITY
The obligation of a business
to contribute to societySlide4
Universal Ethical Standards
4Slide5
Business Ethics: Not an Oxymoron
5
Ethical Dilemma
Negative
consequences
Two unfavorable options
Ethical Lapse
Clear misconduct
M
ost
challenging business decisions seem to arise
when values are in
conflict.
Business Ethics
is
the application of right and wrong in the workplace.Slide6
Ethics: Multiple Touchpoints
Individuals must make their own
ethical choices
BUT
The
organization
can have a significant
influence
on decisions
6Slide7
Ethics and the Individual: The Power of One
7
Key Principles of Decisions:
Do you fully understand each dimension of the problem?
Who would benefit? Who would suffer?
Are the alternative solutions legal? Are they fair?
Does your decision make you comfortable as a “gut feel” level?
Could you defend your decision on the nightly TV news?
Have you considered and reconsidered your response to each question?Slide8
Creating and Maintaining and
Ethical Organization
8
Role of Top Management
the tone from the top must be reinforced by behavior
Organizational Culture
strongest variable on ethical conductSlide9
Bringing Code of Ethics to Life
9
Code of Ethics
is a written document providing direction for employees to make ethical decisions.
Executive Buy-in
Clear expectations
Integrated approach
Global and local
Whistleblower
support
Reporting and EnforcementSlide10
Defining Social Responsibility
Core
stakeholder groups
include
employees, customers, investors,
and
community.
10
Social Responsibility
is the obligation of a business to contribute to society.Slide11
The Stakeholder Approach
11
EMPLOYEES
INVESTORS
COMMUNITY
ENVIRONMENT
CUSTOMERS
Creating Jobs that Work
Sustainable Development
Value, Honesty and Communication
Fair Stewardship and Full Disclosure
Business and the Greater GoodSlide12
The Spectrum of Social Responsibility
12Slide13
Stakeholders
13
Stakeholders
are any
groups
that have a stake
or a personal interest in the
performance
and
actions of
an organization.Slide14
Meet Legal Standards
Workplace Safety
Minimum Wage/Overtime RequirementsProtection from Sexual Harassment
Provide Work/Life Balance
Family and Medical Leave
14
Responsibility to Employees:
Creating Jobs that WorkSlide15
The
Right to Be Safe
The Right to Be Informed
The Right to Choose
The Right to be Heard
Planned Obsolescence
–
Deliberately designing products to fail in order to shorten
the time between consumer repurchases
15
Responsibility to Customers: Value, Honesty, and Communication
Consumerism:
a social movement suggests that consumer rights should be the starting point. President Kennedy defined these rights.Slide16
Legal Requirements
Sarbanes-Oxley
Responsible use of Corporate Dollars
Honesty
Is Optimism or Pessimism Socially Responsible?
16
Responsibility to Investors: Fair Stewardship and Full DisclosureSlide17
Corporate Philanthropy -
business donations to
nonprofit groups, including
both money and time.
Corporate
Responsibility -
actions of the business rather than donations of money and time
Cause-related Marketing –
partnerships between businesses
and nonprofit organizations,
designed to spike sales for the
company and raise money
for the nonprofit
17
Responsibility to the Community: Business and the Greater GoodSlide18
Sustainable Development
Doing business to meet the needs of this generation without harming the ability of future generations
Carbon Footprint
Amount of harmful greenhouse gases a firm emits
Green Marketing
Marketing environmental products and practices for competitive advantage
Responsibility to the Environment
18Slide19
Ethics and Social Responsibility in the Global Arena: A House of Mirrors?
Corruption is part of the culture in many countries
Bribes or Gifts
Labor issues in host countries can be complicated
Living Wage
Child Labor
19Slide20
Ethics and Social Responsibility:
Who is Minding the Store?
20
SOCIAL
AUDIT
A systematic evaluation of
how well a firm is meeting its
ethics and social
responsibility
objectivesSlide21
Looking Back
What is ethics? What are the universal ethics standards?
What are business ethics? What is an ethical dilemma?
How does ethics relate to the individual and the organization?
What is social responsibility and how does it impact stakeholder groups?
What is the role of social responsibility in the global arena?
How do companies evaluate their efforts to be socially responsible?
21