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Chapter 2: Social Responsibility and Managerial Ethics

by: Kerrigan Unter

Chapter 2: Social Responsibility and Managerial Ethics BADM 2101

Marketplace > George Washington University > Business Administration > BADM 2101 > Chapter 2 Social Responsibility and Managerial Ethics
Kerrigan Unter
GPA 3.0
Management, Organizations, and Society
Davis, H

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Management, Organizations, and Society
Davis, H
Class Notes
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This 3 page Class Notes was uploaded by Kerrigan Unter on Monday October 19, 2015. The Class Notes belongs to BADM 2101 at George Washington University taught by Davis, H in Fall 2014. Since its upload, it has received 19 views. For similar materials see Management, Organizations, and Society in Business Administration at George Washington University.


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Date Created: 10/19/15
BADM 2101 Chapter 2 Social Responsibility and Managerial Ethics corporate social responsibility is concerned with the obligation corporations have to constituencies and the nature and extent of those obligations efficiency perspective concept that a manager s responsibility is to maximize pro ts for the owners of the business if society demands that a products be made within certain environmental and safety standards then it is in the best interests of the owner to produce the product to meet those standards in most large organizations the manager is not the owner from the ef ciency perspective it is impossible for managers to maximize shareholders wealth and simultaneously attempt to ful ll all of society s needs also it is the responsibility of the government to impose taxes and determine expenditures to meet society s needs externalities indirect or unintended consequences imposed on society that may not be understood or anticipated social responsibility perspective argues that society grants existence to firms obligations are to society as a whole stakeholders individuals or groups who have an interest in and are affected by the actions of an organization defenders tend to fight efforts that they see as resulting in greater restriction and regulation of their ability to maximize profits accommodators less aggressive in fighting restrictions and regulations but they change only when legally compelled to do so reactors make changes when they feel that pressure from constituencies is sufficient such that nonresponsiveness could have a negative economic impact on the firm anticipators tend to believe that they are obligated to variety of stakeholders not to harm them independent of laws or pressures that restrict or regulate their actions strategic corporate social responsibility perspective 0 Inside out managers can look inside the company at issues that are more rather than less important as a function of the company s strategy and business activities 0 Outside in managers can look outside the company at issues that the company has an impact on 0 Outside out managers should look at social issues in general in terms of the extent to which they are problematic Manageria1 ethics study of morality and standards of business conduct ethical dilemmas have to make a choice between two competing but arguably valid options ethical lapses decisions that are contrary to an individual s stated beliefs and policies of the company utilitarian approach focuses on the consequences of an action mora1 lights approach focuses on examination of the moral standing of actions independent of their consequences universal approach choosing a course of action that you believe can apply to all people under all situations justice approach focuses on how equitably the costs and benefits of actions are distributed distributive justice the equitable distribution of rewards and punishment based on performance procedural justice ensuring that those affected by managerial decisions consent to the decision making process and that the process is administered impartially compensatory justice if distributive and procedural justice fail those hurt by the inequitable distribution of rewards are compensated mora1 intensity the degree to which people see an issue as an ethical one magnitude of the consequences the anticipated level of impact of the outcome of a given action social consensus the extent to which members of a society agree that an act is either good or bad probability of effect the moral intensity of an issue rises and fails depending on how likely people think the consequences are temporal immediacy function of the interval between the time the action occurs and the onset of its consequence proximity the physical psychological and emotional closeness the decision maker feels to those affected by the decision concentration of effect the extent to which consequences are focuses on a few individuals or dispersed across many managers try to foster ethical decisions code of ethical conduct a formal settlement that outlines types of behavior that are and are not acceptable actions speak louder than words Whistleblower employee Who discloses illegal or unethical conduct on the part of others in the organization Foreign corrupt Practices Act FCPA a law prohibiting employees of US firms from corruption the actions of foreign officials politicians or candidates for office


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