CHAPT 6 SOCIAL RESPONSIBILITY AND MANAGERIAL ETHICS (7).ppt

CHAPT 6 SOCIAL RESPONSIBILITY AND MANAGERIAL ETHICS (7).ppt

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SOCIAL RESPONSIBILITY & MANAGERIAL ETHICS INTRODUCTION Examples of decisions that have dimensions of social responsibility include: Employee relations Philanthropy Pricing Resource conservation Product quality Doing business in countries that violate human rights (Provide examples of companies that have been in the news on these issues)
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SOCIAL RESPONSIBILITY A firm’s obligation, beyond that required by the law and economics, to pursue long-term goals that are good for the society. Society’s expectations from organizations and managers Examples – Tobacco companies, Insurance companies, Award ceremonies in high schools
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SOCIAL RESPONSIBILITY TWO OPPOSING VIEWS THE CLASSICAL VIEW THE SOCIOECONOMIC VIEW
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THE CLASSICAL VIEW Management’s only social responsibility is to maximize profits. According to Milton Friedman – Manager’s primary responsibility is to operate the business in the best interests of the stockholders
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SOCIOECONOMIC VIEW The manager’s social responsibility goes beyond making profits to include: Becoming involved in social, political, and legal issues Not independent entities responsible only to stockholders
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EXAMPLES What Gets Companies to Want to Change the World
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