1. UGBS 101 Introduction to Business Administration
Session 3 – Business environment: doing business right
Lecturer: Dr. Daniel Quaye, UGBS
Contact Information:

2. 1. Ethics and social responsibility in Business
Ethics: Defined as the principles and standards of moral behavior that are accepted by society as right versus wrong.
Dr. Daniel Quaye, UGBS

3. What is Ethical Behaviour?
Competing fairly and honestly.
Communicating Truthfully.
Not causing harm to others.
Dr. Daniel Quaye, UGBS

4. What do you think about this?
Dr. Daniel Quaye, UGBS

5. What do you think about this?
Dr. Daniel Quaye, UGBS

6. Dr. Daniel Quaye, UGBS

7. How to make Ethical decisions
Is the decision legal? (Does it break any law?)
Is it balanced? (Is it fair to all concerned?)
Can you live with it? (Does it make you feel good about yourself))
Is it feasible? (Will it actually work in the real world?)
Dr. Daniel Quaye, UGBS

8. Ethical situations can be classified into two general types:
An ethical dilemma: A situation in which a person must choose between two conflicting but arguably valid sides.
Ethical lapse: When a person makes a decision that is clearly wrong
Dr. Daniel Quaye, UGBS

9. 2. Perspectives on Social responsibility
Social responsibility: Is the idea that business has certain obligations to society beyond the pursuit of profits.
Conflicts over social responsibility are often fueled by different perspectives that can be grouped into three categories.
Dr. Daniel Quaye, UGBS

10. The traditional perspective: Business is making money.
The contemporary perspective: Ethics pays.
An emerging perspective: dynamically balancing ethics and profits.
Dr. Daniel Quaye, UGBS

11. 3. Emerging Issues from the Ethics/Social Responsibility Debate
a. Responsibility toward investors
Given the scandals of recent years, many investors are concerned about the ethics of the company in which they invest.
Dr. Daniel Quaye, UGBS

12. b. Responsibility towards Consumers The right to safe products.
The right to be informed.
The right to be heard.
Dr. Daniel Quaye, UGBS

13. c. Responsibility toward employees - The Push for equality in employment. - Occupational health and safety.
Dr. Daniel Quaye, UGBS

14. Reading materials
Introduction of Business Administration Distance Education Manual- Dr Daniel Quaye.
Madura, Jeff (2007), Introduction to Business Administration, South-Western College
Dr. Richard Boateng, UGBS