Which one is the odd one out?. Business Ethics and Social Responsibility.

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Presentation transcript:

Which one is the odd one out?

Business Ethics and Social Responsibility

What responsibility do businesses have? Do businesses have responsibilities? What are their responsibilities? Should they have them? Why? Surely their purpose is to make profit?

Archie Carroll’s ‘Pyramid of Social Responsibility’ Legal Economic Ethical Philanthropic To do some good for society What society sees as acceptable Laws/Regulations Profitable

The Golden Rule “Do as you would be done by!” What does this mean for individuals? What does this mean for organisations?

Business Ethics Rules or standards governing the conduct of a business Moral code – what is ‘right’ and what is ‘wrong’? Highly subjective nature Tension between different stakeholders

Ethical Company Investigation You need to answer the following questions about your company: 1.Who are the company’s key stakeholders? 2.What responsibility does the company owe to these stakeholders? 3.How is the company ‘ethically’ minded? 4.Do you think the company is totally ethical focused or tokenistic in its approach? 5.Are their any potential conflicts affecting its ethical trading?

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

Plenary: Does ethical business mean profitable business?