1 / 29

Ethical Business Practices: Navigating Social Responsibility

Explore the concepts of business ethics and societal obligations, including factors influencing ethical behavior, ethical development stages, common workplace dilemmas, and organizational influence on ethical conduct. Discover the importance of social responsibility in measuring business performance and learn about responsibilities to the public, customers, and employees. Understand investor concerns regarding ethics and social responsibility in the modern business landscape.

snickolas
Download Presentation

Ethical Business Practices: Navigating Social Responsibility

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Part 1 Business in a Global Environment

  2. Chapter 2 Business Ethics and Social Responsibility

  3. Chapter Objectives • Explain the concepts of business ethics and social responsibility. • Describe the factors that influence business ethics. • List the stages in the development of ethical standards. • Identify common ethical dilemmas in the workplace. • Discuss how organizations shape ethical behavior. • Describe how businesses’ social responsibility is measured. • Summarize the responsibilities of business to the general public, customers, and employees. • Explain why investors and the financial community are concerned with business ethics and social responsibility.

  4. Concern for Ethical and Societal Issues • Business ethics—standards of business conduct and moral values. • Constituencies to which businesses are responsible:

  5. The New Ethical Environment • High profile investigations and arrests in headlines. • Yet vast majority of businesses ethical. • New corporate officers charged with deterring wrongdoing and ensuring ethical standards.

  6. Johnson & Johnson’s Credo (Part 1)

  7. Johnson & Johnson’s Credo (Part 2)

  8. The New Ethical Environment • Individuals make a difference • Development of individual ethics • Stages of Moral and Ethical Development

  9. The New Ethical Environment • Common Business Ethical Challenges

  10. On-the-Job Ethical Dilemmas • Conflict of Interest—situation in which a business decision may be influenced for personal gain. • Honesty and Integrity—telling the truth and adhering to deeply felt ethical principles in business decisions.

  11. On-the-Job Ethical Dilemmas • Loyalty vs. Truth—businesspeople expect their employees to be loyal and truthful. But ethical conflicts may arise. • Whistleblowing—employee’s disclosure to government authorities or the media of illegal, immoral, or unethical practices in the organization.

  12. How Organizations Shape Ethical Conduct • Structure of an Ethical Environment

  13. Ethical Awareness • Code of Conduct—a formal statement that defines how the organization expects and requires employees to resolve ethical questions. • Ethical Reasoning • Codes of conduct cannot detail a solution for every ethical situation. So corporations provide training in ethical reasoning.

  14. Ethical Action • Helping employees recognize and reason through ethical problems and turning them into ethical actions. • Ethical Leadership • Executives must demonstrate ethical behavior in their actions.

  15. Acting Responsibly to Satisfy Society • Social Responsibility—management’s acceptance of the obligation to consider profit, consumer satisfaction, and societal well-being of equal value in evaluating the firm’s performance. • Social Audits—formal procedures that identify and evaluate all company activities relate to social issues such as conservation, employment practices, environmental protection, and philanthropy.

  16. Acting Responsibly to Satisfy Society • Responsibilities of Business

  17. Responsibilities to the General Public

  18. Responsibilities to the General Public • Public Health Issues • Protecting the Environment • Recycling—reprocessing of used materials for reuse. • Green marketing—marketing strategy that promotes environmentally safe products and production methods.

  19. FTC Guidelines for Environmental Claims in Green Marketing

  20. Responsibilities to the General Public • Developing the Quality of the Workforce • Corporate Philanthropy—act of an organization giving something back to the communities in which it earns profits.

  21. Responsibilities to Customers • Consumerism—public demand that a business consider the wants and needs of its customers in making decisions.

  22. Right to Be Safe • Consumers should feel assured that what they purchase will not harm them in normal use • Product Liability • Right to Be Informed • Consumers should have enough access to education and product information to make responsible buying decisions

  23. Wacky Warning Labels

  24. The Right to Choose • To select which goods and services they want and need to purchase • The Right to Be Heard • Should be able to express legitimate complaints to appropriate parties

  25. Responsibilities to Employees • Workplace Safety. • Quality of Life Issues. • Ensuring Equal Opportunity in the Job. • Age Discrimination. • Sexual Harrassment and Sexism—inappropriate actions of a sexual nature in the workplace.

  26. Rates of Workplace Injuries and Illnesses

  27. Laws Designed to Ensure Equal Opportunity

  28. Laws Designed to Ensure Equal Opportunity

  29. Responsibilities to Investors and the Financial Community • Fundamental goal of any business is to make a profit. • Investors and the financial community demand that businesses behave ethically as well as legally.

More Related