MGT 410 Weiss Ch 4 Study Guide

MGT 410 Weiss Ch 4 Study Guide - o Definition o Problems...

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MGT 410 Chapter 4 Study Guide Key concepts to Know Managing stakeholders profitably and responsibly: o scope of the issue; o competitive advantages The corporation and its “contracts” with society o Social contract o Covenantal ethic o Five broad guidelines or obligations business professionals should follow to be social responsible o Corporate Philanthropy Corporate Governance and Regulations o Best practices of Board of Directors o The five purposes of the current laws and legal regulatory systems governing business o Best approach to regulating business o Overview of Sarbanes Oxley o Revised 1991 Federal Sentencing Guidelines Corporate Responsibility and Consumer Rights o Responsibilities of the business to consumers o Related “rights” consumers have in their social contract with businesses o Five goals of government policy makers toward consumers o Do not have to know the consumer protection agencies The Free Market theory
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Unformatted text preview: o Definition o Problems with this theory • Ethics in advertising: you do not have to know the laws but the ethical issues: o Arguments allowing advertising in the “grey” area o Arguments against questionable advertising o Key questions to when developing and or implementing advertising campaign • Product Safety and Liability o The ethics of product safety o Product Liability doctrines • The environment o The ethics of ecology: the environment as a stakeholder o Arguments for the environment being considered a stakeholder o Green marketing o Environmental justice o 4 questions managers should ask regarding their actual operations and responsibilities toward the environment o The three ethical guidelines that reflect environmental values from “Toward a Life-Centered Ethic for business” (pg. 223) o You do not have to know the laws...
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