University | Kaplan University (KU) |
Subject | Introduction to Management |
Learning Objectives
LO1 Describe how different ethical perspectives guide decision making
LO2 Explain how companies influence their ethics environment
LO3 Outline a process for making ethical decisions
LO4 Summarize the important issues surrounding corporate social responsibility
LO5 Discuss reasons for businesses’ growing interest in the natural environment
LO6 Identify actions managers can take to manage with the environment in mind
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Ethics
- Ethics
-The system of rules that governs the ordering of values
-Doing all the right things and not doing the wrong things.
It’s a Personal Issue
- Most of us believe we are ethical but most have unconscious biases that favor ourselves and their own group.
• Is it ethical to:
– Shop online during company time?
– Using office equipment for personal use?
– Read personal emails while at work? - Managers often:
– Hire people who are like them
– Lie depending on situation
– Participate in bribery (corruption)
Business Ethics
Skills for Managing Ethics and Social Responsibility
Ethics Approaches
Business Transmission of Ethics
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Corporate Credo
Managing Ethics
Ethical Dilemmas / Issues in Business
1. Enron Scandal – Revealed in October 2001. $90/share in mid
2000 to $1/share by Nov 2001
2. Sanlu – Milk scandal in 2008
3. North American government failing to sign the Kyoto protocol
4. Fashion houses using animal fur for clothing and accessories
5. Tobacco companies manufacturing tobacco products
6. Torrent websites providing free music, movies etc. downloads
7. Sweat shop labour employed by Nike
8. Doctors charging clients sky high prices for consultation
9. Etc.
10. Etc.
11. Etc
Social Responsibility
- The duty a company has to conduct its affairs ethically in a manner that benefits both employees and the larger society
Social Responsibility – Examples
- Donating to charities
- Making affordable products
- Making green products
- Making safe products
- Alternative energy sources
- Recycling
Organizational Stakeholders
Strategies for Managing Stakeholders
Approaches to Social Responsibility
Tutorial: Group Discussion Questions
Choose any company and answer the following:
1. Which of the following ethical decision making does the
company approaches.
a) Utilitarianism
b) Individualism
c) Rights approach
d) Justice approach
2. Which of the following social responsibility does the
company approaches.
a) Confrontation
b) Damage Control
c) Accommodation
d) Proactive
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