Journal Question  Why is it important to practice ethical behaviour at the workplace?

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Presentation transcript:

Journal Question  Why is it important to practice ethical behaviour at the workplace?

Social Responsibility

What is social responsibility?  When organizations act in ways that serve their own interests and the interests of society.  A socially responsible business provides goods and services in line with society’s values

Social Responsibility  Perspectives on social responsibility:  Classical view—  Management’s only responsibility is to maximize profits.  Socioeconomic view—  Management must be concerned for the broader social welfare, not just profits.

CSR Companies  Believe that it is important for businesses to be socially responsible to their employees, customers and communities  CSR – Corporate Social Responsibility - companies generally follow the following 6 principles

6 - CSR Principles  1. Provide a safe and healthy work environment  some business offer employee wellness programs (gym memberships, fitness breaks etc.)

6 - CSR Principles  2. Adopt fair labour policies  offer to pay more than minimum wage or offer employees flexible work schedules

6 - CSR Principles  3. Protect the environment  a business could fund environmental program or make their business operation as environmentally friendly as possible

6 - CSR Principles  4. Being truthful in advertising  business should ensure that advertising does not contain inaccurate or deceptive statements/illustrations

6 - CSR Principles  5. Avoid price discrimination  A business could base its pricing structure on one price, such as MSRP

6 - CSR Principles  6. Donate to Charity  Businesses can sponsor charities and encourage employees to get involved as well

Arguments for social responsibility:  Adds long-run profits  Improved public image  Avoids more government regulation  Businesses have the resources and ethical obligation

Arguments against social responsibility  Reduced business profits  Higher business costs  Dilution of business purpose  Too much social power for business

Criteria for evaluating corporate social performance.