Bài giảng Management - Chapter 5: Ethics and Corporate Responsibility

Learning Objectives LO1 Describe how different ethical perspectives guide decision making. LO2 Explain how companies influence their ethics environment. LO3 Outline a process for making ethical decisions. LO4 Summarize the important issues surrounding corporate social responsibility. LO5 Discuss reasons for businesses’ growing interest in the natural environment. LO6 Identify actions managers can take to manage with the environment in mind.

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Ethics and Corporate ResponsibilityChapter FiveMcGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.Learning ObjectivesLO1 Describe how different ethical perspectives guide decision making.LO2 Explain how companies influence their ethics environment.LO3 Outline a process for making ethical decisions.LO4 Summarize the important issues surrounding corporate social responsibility.LO5 Discuss reasons for businesses’ growing interest in the natural environment.LO6 Identify actions managers can take to manage with the environment in mind.5-*EthicsEthicsThe system of rules that governs the ordering of values5-*EthicsEthical issueSituation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrongBusiness ethicsThe moral principles and standards that guide behavior in the world of business.5-*Ethical SystemsMoral philosophyPrinciples, rules, and values people use in deciding what is right or wrongUniversalismThe ethical system stating that all people should uphold certain values that society needs to function.5-*Ethical SystemsEgoismAn ethical system defining acceptable behavior as that which maximizes consequences for the individualUtilitarianismAn ethical system stating that the greatest good for the greatest number should be the overriding concern of decision makers.5-*Ethical SystemsRelativismPhilosophy that bases ethical behavior on the opinions and behaviors of relevant other peopleVirtue ethicsClassification of people based on their level of moral judgment.5-*The Ethics EnvironmentSarbanes-Oxley ActAn act passed into law by Congress in 2002 to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence5-*Danger SignsExcessive emphasis on short-term revenues over longer-term considerations.Failure to establish a written code of ethics.A desire for simple, “quick fix” solutions to ethical problems.An unwillingness to take an ethical stand that may impose financial costs.5-*Danger Signs (cont.)Consideration of ethics solely as a legal issue or a public relations toolLack of clear procedures for handling ethical problems.Responding to the demands of shareholders at the expense of other constituencies5-*A Process for Ethical Decision Making5-*Figure 5.1Ethical Decision MakingMaking ethical decisions takes: Moral awareness realizing the issue has ethical implications Moral judgmentknowing what actions are morally defensible Moral character the strength and persistence to act in accordance with your ethics despite the challenges5-*The Business Costs of Ethical Failure5-*Figure 5.2Corporate Social ResponsibilityPhilanthropic responsibilitiesAdditional behaviors and activities that society finds desirable and that the values of the business support.5-*Pyramid of Global Corporate Social Responsibility and Performance5-*Figure 5.3
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