BBA week 12 lecture.docx - Week 12 Ethics and Corporate Social Responsibility Learning outcomes Part 1 Ethics What is ethics Ethics Moral philosophy –

BBA week 12 lecture.docx - Week 12 Ethics and Corporate...

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Learning outcomes Part 1: Ethics? - What is ethics? Ethics Moral philosophy – comes from the Greek “ethos” (‘Custom’ or ‘Habit’). Standards/rules/principles of right and wrong (provided by the external source) that influence/guide behaviour. Morals defined as the behaviours of a human (Churchill 1992). Individuals own principles regarding right and wrong. Values Relatively permanent and deeply held underlying beliefs and attitudes that help determine a person’s behaviour. Deeply held underlying beliefs and attitudes that help determine a person’s behaviour. Underpin ethics and ethical behaviour. Three domains of action; three levels of ethics; 1. Individual ethics Concerns the decisions and actions of individual managers, and the ethical principles behind their behaviour. 2. The organisation’s ethical stance, concerns the extent to which the organisation’s minimum obligations to stakeholders and to society at large will be exceeded. 3. CSR focuses on how the organisation puts its ethical stance into practice by addressing different stakeholder interests. - Ethics schools of thought and approaches Absolutism vs Relativism Absolutists Believe that ethical positions are fundamentally and permanently either right or wrong. Relativists Believe that ethical positions depend on the circumstances, the culture, the consequences of the action and so on. Four approaches to ethics Utilitarian - Guided by what will result in the greatest good for the number of people Individual - Guided by what will result in the individual best long-term interests, which ultimately are in Week 12: Ethics and Corporate Social Responsibility
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- The ‘balance sheet’ of benefits and costs - The end justifies the means everyone’s self-interest.
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