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BUSINESS ETHICS, MORAL AND ENVIRONMENTAL ISSUES
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AT THE END OF THIS LESSON, STUDENTS WILL BE ABLE TO:
Identify how ethics can affect a business
Identify and clarify the role of a stakeholder and their importance in (and to) a business
Clarify solutions used by business and government to resolve ethical dilemmas
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SOCIAL RESPONSIBILITY
The business philosophy that emphasises that business should behave as good citizens
They should consider the effects of their activities on society as a whole on the stakeholders
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STAKEHOLDERS
Recap Quick Fire:
1. Who and what are stakeholders?
2. Identify 5 stakeholders of a business?
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WHO ARE STAKEHOLDERS?
Employees
Suppliers
Shareholders
Environment
Management
Government
Local Community
Customers
The Business
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STAKEHOLDERS
Shareholders Generate profits and pay dividends
Customers provide good quality products at reasonable prices.Safety, honesty, decency and truthfulness
Employees health and safety at work, security, fair pay
Suppliers pay on time, pay fair rates for the work done, provide element of security
A business social Responsibilities to stakeholder groups:
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STAKEHOLDERS
Local Community provide employment, safe working environment, minimise pollution and negative externalities – provide external benefits?
Government abide by the law, pay taxes, abide by regulations
Management their aims versus those of the organisation as a whole
Environmentlimit pollution, congestion, environmental degradation, development, etc.
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BUSINESS ETHICS
The moral guidelines for decision making by organisations.
Adopting a moral code – identifying what is ‘right’ and what is ‘wrong’ and act accordingly
Highly subjective nature
Tension between different stakeholders
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BUSINESS ETHICS
Tensions: Profits versus higher wages Expansion versus development Production versus pollution Supplier benefits versus consumer prices/lower
costs Survival of the business versus needs of
stakeholders
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IDENTIFY EACH CASE EXAMPLES ETHICAL ISSUE
Examples
Production of children's toys Profits versus higher wages
Coffee industryExpansion versus
development
Music industry Production versus pollution
Multi-national operationsSupplier benefits versus
consumer prices/lower costs
McDonalds – food quality, litter
Survival of the business versus needs of
stakeholders
Jewellery – diamonds and gold Or any ethical issues that
you can identifyChemical industry
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SOLUTIONS
Self Regulation
Subsidies
Government/EU regulation
Legislation
Pressure Groups
Improve competition and contestability of markets
Social and Environmental Audits
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WHICH SOLUTION COULD “SOLVE” THE ETHICAL ISSUES?
Examples Production of children's
toys Coffee industry Music industry Multi-national operations McDonalds – food quality,
litter Jewellery – diamonds and
gold Chemical industry
Solutions Self Regulation
Subsidies
Government/EU regulation
Legislation
Pressure Groups
Improve competition and contestability of markets
Social and Environmental Audits
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CASE STUDIES
Objectives
Case Study for Nike
page 466
Answer question a and b
Identify stakeholders within group Identify of ethical issue within case study Identify tensions created between stakeholders Recommend a possible solution
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DISCUSS
Quick discussion – extension task
In many markets firms are becoming fewer and
Larger e.g. car manufacturing.
In view of this, discuss whether the consumer is
really becoming more powerful?