Ethics And Corporate Social Responsibility Ppt – Business in Action Eighth Edition Chapter 4 Business Ethics and Corporate Social Responsibility If this PowerPoint presentation contains mathematical equations, you may need to check if you have the following installed on your computer: 1) MathType Add-in 2) Math Player (free versions available) 3) NVDA Reader (free versions available) ) Copyright © 2017, 2015, 2013 Pearson Education, Inc. All rights reserved
4.1 Discuss what it means to practice good business ethics and highlight three factors that influence ethical decision making. 4.2 Define corporate social responsibility (CSR) and explain the difference between philanthropy and strategic CSR. 4.3 Distinguish between four perspectives on corporate social responsibility.
Ethics And Corporate Social Responsibility Ppt
4.4 Discusses the role of business in protecting the natural environment and defines sustainable development. 4.5 Identify the four fundamental consumer rights and the business’s responsibility to respect them. 4.6 Explains the responsibilities of enterprises towards their employees.
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It is debatable whether the public’s perception of business ethics accurately reflects the behavior of the entire business professional community or the behavior of businesses and individuals making the headlines. However, there is no controversy over his opinion: the general public does not think too much about business. This chart shows the percentage of Americans who rate the honesty and morality of a particular profession as “high” or “very high”. Various commercial occupations are shown, along with a few non-business occupations for comparison.
Ethics Rules or standards that govern the behavior of a person or group Transparency The degree to which affected parties can observe relevant aspects of transactions or decisions Ethics are principles and standards of moral behavior that are accepted by society as right or wrong. Practicing good business ethics includes at least competing fairly and honestly, communicating properly, being transparent, and not harming others. Business communication ethics often encompasses the issue of transparency, which can be defined as “the degree to which information flows freely within an organization, between managers and employees, and towards stakeholders”.
Insider trading Using non-public information from a person’s business to take advantage of stock market fluctuations All businesses have the capacity to harm their employees, customers, other companies, communities and investors. For example, insider trading, where insiders use confidential information to gain an advantage in stock market trading, harms other investors. (Insider trading is illegal as well as unethical.)
Compete fairly and honestly Communicate accurately Being transparent Not harming others Businesses are expected to compete fairly and honestly and not knowingly deceive, intimidate, or misrepresent themselves to customers, competitors, customers, employees, the media, or government officials. Communicating properly is a simple enough concept: speak the truth, the whole truth, and only the truth.
Corporate Social Responsibility Business Strategy Powerpoint Presentation Slides
Cultural differences Knowledge Organizational behavior Three of the many factors that influence ethical behavior deserve special attention: cultural differences, knowledge, and organizational behavior.
Code of ethics A written statement that sets out the principles that guide an organization’s decisions. and do not intentionally or unintentionally reward bad behavior. To help avoid ethical violations, many companies develop programs to foster ethical behavior, typically incorporating training, communication, and a code of ethics that defines the values and principles that should be used to guide decisions. Employees who observe unethical or illegal behavior in their company and are unable to resolve issues through normal channels may have no choice but to raise their concerns internally through official reporting mechanisms or externally to the news media or government regulators. However, the decision to “put a notice” on one’s own employer is rarely easy or fruitless.
Ethical jumping A situation where an individual or group makes a morally wrong, illegal, or unethical decision Ethical dilemma A situation where more than one side of an issue can be supported by valid arguments When asked the question of what is right and what is wrong, it is easy to make ethical decisions: you just choose to do the right thing. If you take the wrong path, such as cheating on your taxes or stealing from your employer, you’re making an ethical mistake. The choices were clear and you did the wrong thing. But you will encounter situations where the choices are not so clear. Ethical dilemmas are situations where you have to choose between conflicting but questionable options, or even when not all of your options are pleasant.
Make sure you frame the situation correctly, taking into account all relevant issues and questions. Identify all parties that may be affected by your decision. Be as objective as possible. Consider the following five points to help you find the right answer when faced with an ethical dilemma: • Make sure you frame the situation correctly, taking into account all relevant issues and questions. • Identify all parties that may be affected by your decision and consider the rights of everyone involved. • Be as objective as possible. Make sure you’re not making a decision just to protect your own feelings, and don’t automatically assume that you see a situation fairly and objectively.
Ethics And Corporate Social Responsibility In A Global Context
Don’t assume that other people think the way you think. Beware of conflicts of interest. Conflict of interest A situation where competing loyalties may lead to ethical deviations, such as when a business decision may be influenced by the potential for personal gain • Do not assume that other people think like you. The outdated “Golden Rule” of treating others as you would like to be treated can cause problems when others do not want to be treated the same way. • Beware of conflicts of interest, situations where competing commitments may lead to ethical deviations. For example, if you are responsible for selecting an advertising agency for your company’s next campaign and your wife or husband works at one of the agencies under review, you have an obvious conflict of interest.
Summary Justice Treat people equally, or at least fairly, rationally and morally. Utilitarianism Choose the option that works best for most people (or protects most people from a negative outcome). Individual rights Respect the rights of all individuals to the fullest extent possible, especially their right to control their own destiny. Individual responsibilities Focus on the ethical duties of the individuals involved. Public interest Emphasize qualities and conditions that are in the interest of society as a whole, such as peace and public safety. Virtue Emphasize desirable character traits such as honesty and compassion. These approaches can help you resolve ethical dilemmas you may encounter at work. Note that in some cases, different approaches may lead to different ethical consequences. Sources: Manuel Velasquez, Claire Andre, Thomas Shanks, S. J., and Michael J. Meyer, “Thinking Ethically: A Framework for Moral Decision Making,” Markkula Center for Applied Ethics, Santa Clara University, accessed June 3, 2009, Rogers, “John Rawls,” The Guardian, November 27, 2002, Irene Van Staveren, “Beyond Utilitarianism and Deontology: Ethics in Economics,” Review of Political Economy, January 2007, 21–35.
Corporate social responsibility (CSR) The idea that businesses have obligations to society beyond the pursuit of profit Corporate social responsibility (CSR) is the idea that businesses have obligations to society beyond the pursuit of profits. There is a common assumption these days that CSR is both a moral imperative for business and a good thing for society, but matters are not as clear as they might seem at first glance.
Consumers in contemporary societies enjoy and expect a variety of benefits, from education and healthcare to credit and safe-to-use products. Profit-seeking companies are the economic engine that powers modern society; they make up the vast majority of money in a nation’s economy. Consumers in contemporary societies enjoy and expect a variety of benefits, from education and healthcare to credit and safe-to-use products. Many of these benefits share an important feature: they require money. Profit-seeking companies are the economic engine that powers modern society; They produce the majority of the money in a country’s economy either directly (through their own taxes and purchases) or indirectly (through taxes and purchases made by the employees they support).
Social Responsibilities Of Business And Business Ethics
Much of what we consider when assessing a society’s standard of living includes goods and services created by for-profit companies. Companies cannot hope to operate profitably without the many benefits of a stable and functioning society. Much of what we consider when assessing a society’s standard of living includes goods and services created by for-profit companies. Conversely, companies cannot hope to operate profitably without the many benefits of a stable and functioning society: skilled and healthy employees, a legal framework for doing business, a reliable transport infrastructure, fundraising opportunities and talented customers. payment for goods
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