business ethics week 5 lec 1
TRANSCRIPT
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Business Ethics
Week 5 Lecture 2
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CSR
To whom businesses have
responsibility??
If a firm is meeting all its responsibilities
to others why do ethical conflict arise?
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CSR
Ponder !!!
Protecting Privacy of employees/
empowerment/ Access
VS
Stealing
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Responsibilities ofBusiness Firm
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Friedmans traditional view
vsCarrolls four responsibilities of
business
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Friedmans Traditional View
There is only one and one social
responsibility of businessto use its
resources and engage in activitiesdesigned to increase its profits so long as
it says within the rules of the game, which
is to say, engages in open and freecompetition without deception of fraud
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According to Porter and Kramer
social and economic goals are not
inherently conflicting but integrally
connected
How, why, examples????
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How, Why , Examples !!!
Environmental Concerns may enable to changepremium prices and gain brand loyalty (e,g, benand jerrys)
Preference for working for responsible firm (e.g.P&G, Starbucks)
Welcomed in foreign country (Levis)
Utilize goodwill for support in difficult times (AlFateh mall)
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Carrolls View Economic responsibilitiesservices and
products
Legal responsibilitiesobeying law
Ethical responsibilitieslayoffs
Discretionary - voluntary
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Survey across the world in 2006, by
Mckinsey and Company revealed that only
16% felt that business should focus on
providing the highest returns to investorscontrasted with 84% who stated that
business should generate high returns to
investors but must balance it withcontribution to broader public good
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Common Business Ethical Challenges Conflict in interestbenefiting one
harming others e.g. advertising agencies,
representing competitors
Honesty and Integritystealing
companys resources, insurance cases ,making up personal credentials
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Common Business Ethical Challenges Loyalty VS Truththe conflict between
being loyal and truthful , the ugly situation
Whistle Blowingthe act and
consequences
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Shaping Ethical Conduct Ethical Awareness
Ethical Reasoning
Ethical Action - ref cards , unrealistic
goals
Ethical Leadership
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Define CSR
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Defining CSR
Managements acceptance of the obligationto consider profit, consumer satisfaction,
and societal wellbeing of equal value inevaluating the firms performance
Social audits
Regulations
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The Snap Shot
Public
Employees Investors
Customer
CSR
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To The Public
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To The Public Public Health Issuesthe tobacco companies
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To The Public Protecting the Environment- pollution,
recycling, green marketing
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To The Public Corporate philanthropydonations,
volunteerism
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To The Public Developing the quality work force - diversity,
minorities, disabled people, commitment,
innovation, personal and professional
development
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To The Customers
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To the Customers The Right to be Safedamage by products,
product liability , product testing e.g toys
parts and choking hazards
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To the Customers The Right to be Informed
Do not use
while sleeping This towel hasbeen tested to
withstand strong
winds but do not
use in hurricane
to protect yourself
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To the Customers
The Right to Choose the product
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To the Customers
The Right to Complain
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To the Employees
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To the Employees Workplace Safety - OSHA
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To the Employees Quality of life issuesQWL, Work life
balance, leaves (mandatory )
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To the Employees Equal Opportunity, age discrimination and
sexual harassment
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To Investors
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The Corporate Governance
Accountability
Oversight
Control
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Next lecture
Remember to pick up two cases
Who killed the electric car?
Starbucks mission responsibility and
growth