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Business Ethics and Social Responsibility

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Chapter 2 Business Ethics and Social Responsibility Learning Goals Discuss how organizations shape ethical behavior. Describe how businesses social responsibility ... – PowerPoint PPT presentation

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Title: Business Ethics and Social Responsibility


1
Chapter 2 Business Ethics and Social
Responsibility
Learning Goals
Discuss how organizations shape ethical
behavior. Describe how businesses social
responsibility is measured. Summarize the
responsibilities of business to the general
public, customers, and employees. Explain why
investors are concerned with business ethics
and social responsibility.
5
Explain the concepts of business ethics and
social responsibility. Describe the factors that
influence business ethics. List the stages in the
development of ethical standards. Identify common
ethical dilemmas in the workplace.
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2
Concern for Ethical and Societal
Issues Sarbanes-Oxley Act 2002 law that added
oversight for the nations major companies and a
special oversight board to regulate public
accounting firms that audit the financial records
of these corporations. Business Ethics The
standards of conduct and moral values governing
actions and decisions in the work environment.
Social responsibility.  Balance between whats
right and whats profitable.  Often no
clear-cut choices.  Often shaped by the
organizations ethical climate.
3
THE NEW ETHICAL ENVIRONMENT  High profile
investigations and arrests in headlines.  Vast
majority of businesses ethical.  New corporate
officers charged with deterring wrongdoing and
ensuring ethical standards.
4
Individuals Make a Difference Personal ethics
matter.  Survey of British workers found 30
percent spent 30 minutes daily doing personal
business online.  Technology expanded
abuses.  Data theft.
5
Development of Individual Ethics
6
On-the-Job Ethical Dilemmas
Telling the truth and adhering to deeply felt
ethical principles in business decisions.
Situation in which a business decision may be
influenced for personal gain.
Employees disclosure of illegal, immoral, or
unethical practices in the organization.
Businesspeople expect employees to be loyal and
truthful, but ethical conflicts may arise.
7
HOW ORGANIZATIONS SHAPE ETHICAL CONDUCT
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Ethical Awareness  Code of Conduct Formal
statement that defines how the organization
expects and requires employees to resolve ethical
questions. Ethical Reasoning Codes of conduct
cannot detail a solution for every ethical
situation, so corporations provide training in
ethical reasoning. Ethical Action Helping
employees recognize and reason through ethical
problems and turning them into ethical
actions. Ethical Leadership Executives must
demonstrate ethical behavior in their actions.
9
ACTING RESPONSIBLY TO SATISFY SOCIETY Social
Responsibility Managements acceptance of the
obligation to consider profit, consumer
satisfaction, and societal well-being of equal
value in evaluating the firms performance. For
example, contributions to the overall economy,
job opportunities, and charitable contributions
and service.  Measured through social audits.
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Areas of responsibility
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Responsibilities to the General Public Public
Health Issues What to do about inherently
dangerous products such as alcohol, tobacco,
vaccines, and steroids. Protecting the
Environment Using resources efficiently,
minimizing pollution.   Recycling Reprocessing
used materials for reuse. Developing the
Quality of the Workforce Enhancing quality of the
overall workforce through education and diversity
initiatives. Corporate Philanthropy Cash
contributions, donations of equipment and
products, and supporting the volunteer efforts of
company employees.
12
Responsibilities to Customers The Right to Be
Safe Safe operation of products, avoiding
product liability. The Right to Be Informed
Avoiding false or misleading advertising and
providing effective customer service. The Right
to Choose Ability of consumers to choose the
products and services they want. The Right to Be
Heard Ability of consumers to express legitimate
complaints to the appropriate parties.
13
Responsibilities to Employees Workplace Safety
Monitored by Occupational Safety and Health
Administration. Quality-of-Life Issues Balancing
work and family through flexible work schedules,
subsidized child care, and regulation such as
the Family and Medical Leave Act of
1993. Ensuring Equal Opportunity on the Job
Providing equal opportunities to all employees
without discrimination many aspects regulated by
law. Age Discrimination Age Discrimination in
Employment Act of 1968 protects workers age 40
or older. Sexual Harassment and Sexism Avoiding
unwelcome actions of a sexual nature equal pay
for equal work without regard to gender.
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Responsibilities to Investors and the Financial
Community  Obligation to make profits for
shareholders.  Expectation of ethical and moral
behavior.  Investors protected by regulation by
the Securities and Exchange Commission and
state regulations.
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