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Cengage Learning All Rights Reserved May not be scanned copied or duplicated or posted to a publicly accessible website in whole or in part Business Ethics and Social Responsibility Doing Well By Doing Good ID: 271762

ethics responsibility business social responsibility ethics social business ethical groups organization employees decisions stakeholder global socially customers nonprofit arena

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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