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SOCIAL AND ETHICAL ENVIRONMENT OF BUSINESS

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SOCIAL AND ETHICAL ENVIRONMENT OF BUSINESS 2 ... Discuss how the values of Americans have changed and how business has adapted to those changed values. – PowerPoint PPT presentation

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Title: SOCIAL AND ETHICAL ENVIRONMENT OF BUSINESS


1
SOCIAL AND ETHICAL ENVIRONMENT OF BUSINESS
2
  • Describe the changing nature of the population,
    the labor force, and their impact on businesses.
  • Discuss how the values of Americans have changed
    and how business has adapted to those changed
    values.
  • Suggest ways in which businesses can be socially
    responsible.

2
HUMAN RESOURCEISSUES
  • Population
  • Growing population grown steadily over years
    mostly due to immigration
  • Changing population more diverse
  • Baby boom more people aged 35-55 (1945-65)
  • Baby bust period after 1965
  • Moving population 1 out of 5 move yearly
  • Frost Belt cold northern half of country
  • Sun Belt warm southern half
  • Rust Belt north central/northeastern states

3
HUMAN RESOURCEISSUES
  • Labor force 16 or older available to work
  • Poverty 12/15 of pop. live in poverty
  • Stats show that the richest 20 of Americans hav
    cont to earn more over the past 30 yrs, while
    income of the lowest 5th has stayed the same
    gap between richer and poorer continues to widens
  • Equal employment
  • Glass ceiling invisible barrier to job
    placement
  • Sticky floor syndrome inability for workers to
    move up due lows skills/education
  • Comparable worth paying workers equally for
    jobs with similar but not identical job
    requirements

4
HUMAN RESOURCEISSUES
  • Societal values
  • Generation X feel less loyal to Eer expect to
    change jobs many times
  • Net Generation 1977-1997
  • Employer practices
  • Redesigning jobs used to retain workers
  • Improving health and safety an unfit Eee is
    absent more and less productive
  • Family-friendly practices day care flexible
    hours work from home

5
ETHICAL ISSUES
  • Standards of moral conduct that individuals and
    groups set for themselves, defining what behavior
    they value as right or wrong
  • Law provides for a minimum standard
  • Business ethics
  • Collection of principles and rules that define
    right and wrong for organizations
  • Closely linked to personal values
  • Code of Ethics - formal, published collection
    that reflect companys philosophy and goals

6
Ethical dilemmas
  • Arises when it is not clear whether a particular
    action is legal or illegal
  • What is the value or worth of a specific behavior
    for society as a whole
  • Best behavior is that which does the most good
    for the most people
  • Organizations/bosses are faced with ethical
    dilemmas all the time

7
  • Supervisors Secret (p. 31)
  • Nike
  • Pg 45 - Think Critically Qs 1-4

8
SOCIAL RESPONSIBILITY OF BUSINESS
  • Social responsibility the duty of a business to
    contribute to the well being of society
  • What is businesss responsibility to help solve
    societys problems?
  • Answer is not simple
  • Profit motive collide with what is good for
    society
  • Businesses depend on society for resources,
    opportunities and have an obligations to the
    communities in which they operate

9
  • It is now widely recognized that business has an
    important responsibility to society
  • Businesses have realized that by getting involved
    socially, it advances its own interests
  • Enhancing goodwill in the computer reduce
    governments desire to regulate the business
  • TASK Pick any business, small or large, and
    report on how they act socially or responsibly to
    the community that they operate in.

10
ECONOMIC ENVIRONMENT OF BUSINESS
3
  • Discuss three economic systems and three
    economic-political systems.
  • Summarize five fundamental elements of capitalism.

11
ECONOMIC SYSTEMS
  • Types of economic-political systems
  • Capitalism US free enterprise private
    citizens are free to go into business produce
    what they want and distribute what they provide
    and own property
  • Socialism Sweden gov. controls how to use
    scarce resources is decided by gov.
  • Communism North Korea extreme socialism all
    or almost all factors of production are owned by
    the gov. decisions on who gets what is decided
    by the gov.

12
FUNDAMENTALS OF CAPITALISM
  • Private property essential to captialism R to
    own, use and sell
  • Profit incentive of capitalism
  • Price setting
  • Demand - of products that will be bought at a
    given time at a given price high demand higher
    cost
  • Supply - of like product that will be offered
    for sale at a particular time and at a certain
    price low supply higher cost

13
FUNDAMENTALS OF CAPITALISM
  • Competition Rivalry among sellers for
    consumers benefits consumers
  • Income distribution just like what an
    individual receives in goods is determined by the
    amt of that person has, the amt of an
    individual received in wages is determined by
    many factors but mainly supply and demand

14
SUPPLY AND DEMAND
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