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Chapter 3 Notes

by: Maayan Notetaker

Chapter 3 Notes Business Management 101

Maayan Notetaker

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About this Document

These notes cover all of Chapter 3 for the textbook Exploring Management. They contain defined terms, examples, and lists of processes.
Business Management in a Global Environment
Dr. Judith Ryba
Class Notes
business, Management, business management, intro, chapter 3
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This 4 page Class Notes was uploaded by Maayan Notetaker on Sunday September 18, 2016. The Class Notes belongs to Business Management 101 at Yeshiva University taught by Dr. Judith Ryba in Fall 2016. Since its upload, it has received 9 views. For similar materials see Business Management in a Global Environment in Business at Yeshiva University.


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Date Created: 09/18/16
Chapter 3: Ethics and Social Responsibility Ethics ● Individual character: foundation of personal integrity ● Ethics: set standard of Good or Right in our conduct ● Ethical behavior: behavior deemed to be Good or Right in the  context of a governing moral code ● Unethical behavior isn't always illegal ○ Values: broad personal beliefs about what is  Terminal VS  appropriate behavior instrumental  ● Terminal values: preferences about desired end states ○ Self respect, family security, freedom, inner harmony happiness ● Instrumental values: means for accomplishing desired ends ○ Honesty, ambition, courage, imagination, self  discipline ● 2 different people may put more emphasis on certain values than  others 4 approaches to moral  ● Common unethical managerial behavior: verbal, sexual, racial  reasoning harassment, misuse of company property, and preferential treatment ● Top reason for unethical behavior among employees: lack of  personal integrity & lack of job satisfaction ● 4 approaches to moral reasoning: ○ Utilitarian view: ethical behavior delivers the  greatest good to the most people ■ Result oriented­ based in John Stuart  Mill philosophy ■ Ex: firing 30% of workforce to  maintain other 70% long term ■ Dangerous in that they focus on future outcomes which are hard to predict ○ Individualist view: ethical behavior is that which  advances long term self interest ■ Ex: not cheating on a test for fear of  getting caught ■ Problem ­ not everyone is self  ­regulating ■ ­> pecuniary ethics: pushing law to  limit and hurting others ○ Justice view: treats people impartially and fairly ■ Procedural justice: fair administration of policies and rules ■ Distributive justice: outcomes  allocated without respect to individual characteristics ● Age,race,gender  doesnt matter ■ Interactional justice: giving proper  respect and dignity to all Chapter 3: Ethics and Social Responsibility Cultural relativism ■ Commutative justice: focuses on fair  Moral absolutism exchanges and transactions ­ all have access to info, get  benefit, and enter into agreements freely ○ Moral rights view: ethical behavior respects and  protects fundamental rights ■ Protect individual right to privacy, free  speech, free consent, health and safety, and convenience ■ Problem: if one person’s rights hurt  What is an ethical  another's dilemma?  ● Cultural relativism: belief that ethics and values vary by culture and  country ­ ethics are determined by cultural context ● Moral absolutism: belief that ethical values should be constant  across all cultures ● Ethical imperialism: argument against moral absolutism ­ imposition of one's ethical beliefs on another culture ● Thomas Donaldson believes hyper­norms can be constant across  culture (human dignity, basic rights) whiel still maintaining the traditions  and values of other cultures ● Ethical dilemma: situation contrasting something that might be  beneficial to you with its moral consequences Kohlberg’s 3 levels of  ○ Can be caused by unrealistic performance goals or  moral development directly unethical requests from superiors ● People often rationalize unethical behavior ○ Common excuses: “no one will ever know,” “it is in  everyone's best interest”, “its not illegal”, “the org. Will stand behind  me” ● Personal character (family, religion, experiences, etc.)  influences  personal ethics ● Pressure by others also influences ethical behavior ● Ethical frameworks: well thought out personal rules and strategies  What prevents  for ethical decision making whistleblowing? ● Preconventional: self centered behavior; seek personal gain and  avoid harm or punishment ● Conventional: social­centered; act with peers and follow rules/  obligations ● postconventional/principled: follow core values; live up to  societal expectations & act according to internal principles ● Ethics training: teach about ethical aspect of decision making ○ Spotlight questions: highlight the risks from public  disclosure of one’s actions­ what if your mom found out? ● We should protect whistleblowers (expose misconduct of org.) Social responsibility ● Strict chain of command makes it hard to go around the boss ● Strong group identities encourage loyalty ● Ambiguous priorities ● Fear of hurting another person ­ MY IDEA­NOT IN BOOK ● Managers should be positive role models and inspire ethical  Chapter 3: Ethics and Social Responsibility conduct 3 P’s of organizational  ○ Should place emphasis on ethics standards and  performance enforcing them ○ Immoral manager chooses to behave unethically ○ Amoral manager doesn't care ○ Moral manager chooses to behave ethically ● Formal code of ethics helps set standards at work­ explains  expected moral behavior at work ● Stakeholders: pl, org, and groups with which an org. Does business that are directly affected by its outcome and performance ○ Customers, suppliers, competitors, regulators,  investors, employees ● Corporate social responsibility: obligation of organization to serve  its own interests and its stakeholders interests ● Triple bottom line: organizational performance includes financial,  social, and environmental criteria ○ Often called the 3 p’s of organizational performance:  Social responsibility  profit, people, planet  audit ● Classical view of CSR: organizations only responsibility is  maximizing profit ○ Dilute purpose of business, put too much power in  business’s hands, reduce profits and raise costs ● Socioeconomic view of CSR: business should focus on  contributions to society, not just making profits ○ Will add long run profits for businesses, improve  public image, avoid gov. Regulation ○ Virtuous circle: CSR lead to increased financial  performance which leads to increased CSR ○ Shared value: understanding that financial and social performance are interconnected ● Social responsibility audit: measures and reports on  organizations performance in various areas of CSR ○ Compliance ­acting to avoid consequences ■ Economic responsibility ­ earns profit  by providing goods ■ Legal responsibility ­ when org.  Operates within law and according to external regulation ○ Conviction ­ acting to achieve positive results ■ Ethical responsibility ­ when org.  Voluntarily conforms to society's broader values and moral  expectations ■ Discretionary responsibility ­ org.  Provides leadership in advancing well­being of individuals,  society, and communities ● Sustainability is important goal ­ it is the goal that adresses the right of future generations as co­stakeholders in our natural resources­ we must  Chapter 3: Ethics and Social Responsibility maintain the planet ○ → sustainable business - firms meet the needs of the customers while also sustaining environmental resources ■ Less waste, toxic material and more  resource efficiency, energy efficiency, and renewable  resources ○ Sustainable development ­ meeting the needs of  “now” while preserving the ability of the future to meet their needs ■ environmental/natural capital ­  storehouse of natural resources that we use to sustain life  and produce our goods and services ■ ISOO 1401 ­ global quality standard  that certifies org. That set environmental objectives and  targets, account for environmental impact, and improve  performance ○ Human sustainability: preserving the psychological  and physical well­being of workers ● Social business: one in which underlying business problem  addresses a social problem ● Social entrepreneurs: driven by social mission­take business risks  to find novel ways to solve social problems


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