3-3. Ethics - BA310: Social Responsibility and Ethics 1...

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1 BA310: Social Responsibility and Ethics
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2 Social Responsibility and Ethics Road Map Who are an organization’s stakeholders? Which stakeholders are management responsible to? What does that imply about how firms should act? What does the “ethics landscape” look like? What are four models of ethical decision-making? What factors predict the outcome of ethical dilemmas? How do individual factors affect ethical decision-making – particularly the “stage of moral development?” How can organizations encourage ethical behavior?
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3 Background: ORGANIZATIONAL STAKEHOLDERS Exhibit 3.8.
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4 Stakeholder management Stakeholders: Any internal or external groups that are affected by the organization’s decisions and actions. Compare to environment What challenges do stakeholders pose? Effective stakeholder mgmt linked to high performance Yet stakeholders needs conflict How are stakeholders managed? Identify concerns, assess criticality, manage strategically. Approaches range from monitoring to partnerships. The more critical the stakeholder & the more uncertain the environment, the closer the relationship should be. See Text
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5 Owners and Management Employees Constituents in the Specific Environment Broader Society Social Responsibility Lesser Greater (Exh 5.7) Level of social responsibility - Who is the firm responsible to?
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6 One view: Management is responsible to owners Implication: “Social obligation:” Business should meet economic (profits) and legal obligations. Advocates argue that: Businesses should follow society’s rules (laws). Given that, maximizing profits best uses and grows society’s resources. Business can /should not make broader decisions for society; that’s for the state and collective expression of individual choice. Firms should take socially “responsible” actions only if they increase profits. Also called the “classical” view of social responsibility
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7 Alternate Views: Management is responsible to broader social groups Implication: If management is responsible to broader groups, they must be more broadly concerned about their impact on society. Several perspectives on this: Social responsibility view - a business’s obligation is to pursue long-term goals that help society. Businesses make a long-term, philosophical commitment to go beyond legal and economic obligations Social responsiveness view - capacity of a firm to adapt to changing societal conditions and norms Businesses should respond to social trends A more pragmatic, action-oriented approach Related to the “socioeconomic” view Businesses have a responsibility to improve and protect the welfare of a society that endorses and supports them.
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8 Advocates argue: 1) It is in businesses’ interest : it can increase long-term profitability and /or reputation, meet public expectations, and deter government regulation 2) Business can make a difference
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This note was uploaded on 02/12/2010 for the course BADM 310 taught by Professor Staff during the Spring '08 term at University of Illinois, Urbana Champaign.

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3-3. Ethics - BA310: Social Responsibility and Ethics 1...

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