Chapter 2. Being Ethical and Socially Responsible. Learning Objectives. Understand what is meant by business ethics . Identify the types of ethical concerns that arise in the business world. Discuss the factors that affect the level of ethical behavior in organizations.
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Being Ethical andSocially Responsible
…the study of right and wrong and of the majority of the choices individuals make.
…the application of moralstandards to business situations.
Source: Based on O. C. Ferrell and Larry Gresham, “A Contingency Framework for Understanding Ethical Decision Making in Marketing,” Journal of Marketing, Summer 1985, p. 89.
…informing the press or government officials about unethical practiceswithin one’s organization.
…provides sweeping new legal protection for employees who report corporate misconduct.
…a guide to acceptable and ethical behavior as defined by an organization;it outlines uniform policies, standards,and punishments for violations.
…coordinates ethical conduct (and) gives employees someone to consult if they are not sure of the right thing to do.
…the recognition that businessactivities have an impact on societyand the consideration of that impactin business decision making.
Source: Adapted from Keith Davis, William C. Frederick, and Robert L. Blomstron, Business and Society: Concepts and Policy Issues (New York: McGraw-Hill,1980), p. 9. Used by permission of McGraw-Hill Book Company.
Source: Booz & Co. survey of 828 chief executive officers and managers.
Margin of error: 3+/- percentage points.
…all activities undertaken to protect the rights of consumers.
Consumer Bill of Rights
…a racial, religious, political, national, or other group regarded as different from the larger group of which it is a part and that is often singled out for unfavorable treatment.
This chart shows the median household incomes of white, black, Hispanic, and Asian workers in 2007.
Source: U.S. Census Bureau, Current Population Survey, 1968 to 2008 Annual Social and Economic Supplements, Income, Poverty, and Health Insurance Coverage in the United States: 2007, issued August 2008, U.S. Census Bureau, U.S. Department of Commerce, p. 6, www.census.gov/prod/2008pubs/p60-235.pdf, accessed May 1, 2009.
The ratio of women’s to men’s annual full-time earnings was 78 percent in 2007, and new all-time high, up from 74 percent first reached in 1996.
Source: U.S. Census Bureau, Current Population Survey, 1968 to 2008 Annual Social and Economic Supplements, Income, Poverty, and Health Insurance Coverage in the United States: 2007, issued August 2008, U.S. Census Bureau, U.S. Department of Commerce, p. 11, www.census.gov/prod/2008pubs/p60-235.pdf, accessed May 1, 2009.
…a plan designed to increasethe number of minority employeesat all levels within an organization.
…a government agency with powerto investigate complaints of employment discrimination and power to sue firmsthat practice it.
…workers with little education orvocational training and a long historyof unemployment.
National Alliance of Business
“…a joint business-government program to train the hard-core unemployed.”
…the contamination of water, air, or land through the actions of people in an industrialized society.
“Air Pollution: City Comparisons,” Air Pollution Problems Facing Cities, http://www.portfolio.mvm.ed.ac.uk/studentwebs/session4/27/citydiff.htm