2eIM-LN-Chapter9 - Section 6 C hapter Lecture Notes for...

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Chapter 9 Ethical Business Strategies, Corporate Social Responsibility, and Environmental Sustainability Chapter Summary Chapter nine focuses on examining what link, if any, there should be between a company’s efforts to craft and execute a winning strategy and its duties to (1) conduct its activities in an ethical manner; (2) demonstrate socially responsible behavior by being committed corporate citizens; and (3) limit its strategic initiatives to those that meet the needs of consumers without depleting resources needed by future generations. Lecture Outline I. Business Ethics and the Tasks of Crafting and Executing Strategy 1. Business ethics is the application of general ethical principles and standards to business behavior. 2. Ethical principles in business are not materially different from ethical principles in general. 3. Business ethics does not involve a special set of ethical standards applicable only to business business situations Core Concept Business ethics concerns the application of general ethical principles and standards to the actions and decisions of companies and the conduct of company personnel. A. Drivers of Unethical Strategies and Business Behavior 1. Apart from “the business of business is business, not ethics” kind of thinking apparent in recent high-pro fi le business scandals, three other main drivers of unethical business behavior also stand out: Faulty oversight by top management and the board of directors that implicitly allows the overzealous pursuit of personal gain, wealth, and other self-interests. Heavy pressures on company managers to meet or beat performance targets. A company culture that puts pro fi tability and good business performance ahead of ethical behavior. 413
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