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Exploring Business © 2009 FlatWorld Knowledge 2-1 Business Ethics And Social Responsibility.

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Presentation on theme: "Exploring Business © 2009 FlatWorld Knowledge 2-1 Business Ethics And Social Responsibility."— Presentation transcript:

1 Exploring Business © 2009 FlatWorld Knowledge 2-1 Business Ethics And Social Responsibility

2 Exploring Business © 2009 FlatWorld Knowledge 2-2 Chapter Objectives 1.Define business ethics and explain what it means to act ethically 2.Solve ethical dilemmas and make ethical decisions 3.Identify ethical issues in business and rationalizations for unethical behavior 4.Specify actions managers take to create/sustain ethical organizations 5.Explain how organizations are responsible to stakeholders 6.Identify threats to natural environment and how businesses are addressing them.

3 Exploring Business © 2009 FlatWorld Knowledge 2-3 Idea of Business Ethics  What Is Ethics ? –Ethical Behavior –Business Ethics  What Is Social Responsibility? –Corporate Social Responsibility –Stakeholders

4 Exploring Business © 2009 FlatWorld Knowledge 2-4 Ethical Organizational Activities Treat People Fairly Treat People Fairly Fairness = Top Priority Fairness = Top Priority Everyone Accountable Everyone Accountable Communicate Core Values to All Communicate Core Values to All Demand/Reward Integrity from All Demand/Reward Integrity from All

5 Exploring Business © 2009 FlatWorld Knowledge 2-5 Best Corporate Citizens Proctor & GambleProctor & Gamble IntelIntel AvonAvon Herman MillerHerman Miller TimberlandTimberland CiscoCisco Southwest AirlinesSouthwest Airlines AT & TAT & T StarbucksStarbucks MerckMerck MedtronicMedtronic

6 Exploring Business © 2009 FlatWorld Knowledge 2-6 Employee Attitudes In Unethical Companies Uneasy About WorkUneasy About Work Object To Way TreatedObject To Way Treated Uncomfortable About How Co-Workers TreatedUncomfortable About How Co-Workers Treated Question Management Directives & PoliciesQuestion Management Directives & Policies

7 Exploring Business © 2009 FlatWorld Knowledge 2-7 Why Study Ethics? ? Ethics of future not the same as today/past ? Understand what is/isn’t acceptable/unacceptable ? Recognize/deal with ethical challenges ? Know right/wrong = marketable job candidate

8 Exploring Business © 2009 FlatWorld Knowledge 2-8 Ethical Self-Examination, “I’m... 1)Always Ethical 2)Mostly Ethical 3)Somewhat Ethical 4)Seldom Ethical 5)Never Ethical

9 Exploring Business © 2009 FlatWorld Knowledge 2-9 Ethical Challenges “…arise in...business organizations [because]…multiple stakeholders…make conflicting demands.”“…arise in...business organizations [because]…multiple stakeholders…make conflicting demands.”

10 Exploring Business © 2009 FlatWorld Knowledge 2-10Ethical oDecisions- Ethical Lapse oDilemmas- problematic situations

11 Exploring Business © 2009 FlatWorld Knowledge 2-11 How To Face an Ethical Dilemma

12 Exploring Business © 2009 FlatWorld Knowledge 2-12 How To Avoid an Ethical Lapse

13 Exploring Business © 2009 FlatWorld Knowledge 2-13 Basic Situations Causing Ethical Issues  Bribes  Conflicts of Interest  Conflicts of Loyalty  Issues of Honesty and Integrity  Whistle-blowing

14 Exploring Business © 2009 FlatWorld Knowledge 2-14 Bribes Vs. Gifts  Cost of Item  Gift Timing Timing Type Type  Connection  Check Company Policy

15 Exploring Business © 2009 FlatWorld Knowledge 2-15 Conflict of Interest “…individuals must choose between taking actions that promote their personal interests over the interests of others.”“…individuals must choose between taking actions that promote their personal interests over the interests of others.”

16 Exploring Business © 2009 FlatWorld Knowledge 2-16 Conflicts Of Interest  Interferes With Best Interest of Company Stakeholders  Use of Private Information

17 Exploring Business © 2009 FlatWorld Knowledge 2-17 How to Maintain Honesty & Integrity

18 Exploring Business © 2009 FlatWorld Knowledge 2-18Whistle-Blowing  Applauded or Shunned  Career Suicide  Sarbanes-Oxley

19 Exploring Business © 2009 FlatWorld Knowledge 2-19 Common Rationalizations 1) My Behavior Isn’t Really Illegal Or Immoral 2) My Action Is In Everyone’s Best Interests 3) No One Will Find Out What I’ve Done 4) The Company Will Condone My Action And Protect Me

20 Exploring Business © 2009 FlatWorld Knowledge 2-20 Ethics Influencers Members of Organization Members of Organization Top Managers & Supervisors Top Managers & Supervisors Co-Workers & Subordinates Co-Workers & Subordinates

21 Exploring Business © 2009 FlatWorld Knowledge 2-21 Formal Code Of Conduct:  Principles & Guidelines  Topics - Use Of Corporate Funds & Resources - Conflict Of Interest - Protection Of Proprietary Information  Enforcement  Encourages & Provides Instructions for Reporting

22 Exploring Business © 2009 FlatWorld Knowledge 2-22 Corporate Social Responsibility “…the approach…an organization takes in balancing its responsibilities toward...stakeholders when making…decisions.”“…the approach…an organization takes in balancing its responsibilities toward...stakeholders when making…decisions.”

23 Exploring Business © 2009 FlatWorld Knowledge 2-23 The Corporate Citizen

24 Exploring Business © 2009 FlatWorld Knowledge 2-24 Stakeholders & Responsibility  Owners- Fiduciary  Employees Safety & Health Safety & Health Free from Sexual Harassment Free from Sexual Harassment Equal Opportunity & Diversity Equal Opportunity & Diversity Wages & Benefits Wages & Benefits  Customers  Communities

25 Exploring Business © 2009 FlatWorld Knowledge 2-25 Workplace Deaths by Event/Exposure

26 Exploring Business © 2009 FlatWorld Knowledge 2-26 Workplace Deaths by Occupations

27 Exploring Business © 2009 FlatWorld Knowledge 2-27 Median Annual Earnings by Gender and Race

28 Exploring Business © 2009 FlatWorld Knowledge 2-28 Median Annual Earnings by Gender, Age, and Degree Level

29 Exploring Business © 2009 FlatWorld Knowledge 2-29 Responsibilities to Customers  Right To Safe Products  Right To Be Informed  Right To Choose  Right To Be Heard

30 Exploring Business © 2009 FlatWorld Knowledge 2-30 Responsibilities to Community  Financial Contributions  Volunteerism  Supporting Social Causes

31 Exploring Business © 2009 FlatWorld Knowledge 2-31 Business Community & Environmental Issues  Land Pollution  Air Pollution  Water Pollution

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