Managerial Ethics and Corporate Social Responsibility

Managerial Ethics and Corporate Social Responsibility -...

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Managerial Ethics and Corporate Social Responsibility Chapter 5
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Objectives Define ethics and explain how ethical behavior relates to behavior governed by law and free choice Explain the utilitarian, individualism, moral- rights, and justice approaches for evaluating ethical behavior Define corporate social responsibility and how to evaluate it along economic, legal, ethical, and discretionary criteria Describe four corporate responses to social demands Describe structures that managers can use to improve their organizations’ ethics
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What is Managerial Ethics? In a general sense, ethics is the code of moral principles and values that govern the behaviors of a person or group with respect to what is right or wrong. Ethics sets standards as to what is good or bad in conduct and decision making. Ethics can be more clearly understood when compared with behaviors governed by laws and by free choice.
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Three Domains of Human Action The Human Behavior falls into three categories: The Domain of Codified Law , in which values and standards are written into the the legal system and enforceable in the courts The Domain of free choice pertains to behavior about which law has no say and for which an individual or organization enjoys complete freedom.An individual’s choice of religion or a corporation’s choice of the number of dishwashers to manufacture are examples of free choice
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Three Domains of Human Action Between these domains lies the area of ethics. This domain has no specific laws, yet it does have standards of conduct based on shared principles and values about moral conduct that guide an individual or company In the domain of free choice ‘ obedience is strictly to oneself. In the domain of codified law , obedience is to laws prescribed by the legal system In the domain of ethical behavior , obedience is to unenforceable norms and standards about which the individual or company is aware.
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Criteria for Ethical Decision Making The utilitarian approach holds that moral behavior produces the greatest good for the greatest number. Under this approach, a decision maker is expected to consider the effect of each decision alternative on all parties and select the one that optimizes the satisfaction for the greatest number of people
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Utilitarian approach The utilitarian ethic was the basis for the State of Oregon’s decision to extent Medicaid to 400,000 previously ineligible recipients by refusing to pay for high-cost, high-risk procedures such as liver transplants, bone marrow transplants. Although a few people needing these procedures have died because the state would not pay,many people have benefited from medical services they would otherwise have had to go without.
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Criteria for Ethical Decision making The Individualism approach contends that acts are moral when they promote the individual’s best long-term interests. Individual self-direction is paramount, and external forces that restrict self-direction should be severely limited. The action that is intended to produce
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Managerial Ethics and Corporate Social Responsibility -...

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