GB Ch 7 Business Ethics (part 3)

GB Ch 7 Business Ethics (part 3) - only if doing so is...

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Business and Its Community So far, we've focused on individual responsibility.  Now, the focus is on organizational  obligations.  Do corporations have ethical duties or social responsibility?  What does  corporate social responsibility (CSR) mean?  Carroll and Buchholtz have developed a  four-part definition of CSR:  economic (be profitable), legal (obey the law), ethical (be  ethical), and philanthropic (be a good corporate citizen).  These days, it seems most of  us believe that business does indeed have a social responsibility, especially in light of  the recent ethical scandals we've read about in the news.  (See book discussion about  Professor Christopher Stone.  Others, such as economist Milton Friedman, argue that  the only corporate social responsibility is to make a profit.  Thus, Friedman might argue  that a corporation has an obligation to observe common standards of business ethics 
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Unformatted text preview: only if doing so is financially beneficial for the company. Do you think acting ethically makes a company more profitable? Does it matter if the only motive for ethical behavior is economic? Is a higher motive necessary, even if the result is the same? Stakeholder and Social Contract Theory Please refer to your book for this information. When (or if) you take GB 441, you will spend a significant portion of the class discussing stakeholders and stakeholder management. Sentencing Guidelines Please refer to your book for this information (beginning with the box entitled "The Business Scandals of 2001-04" and through the "Sarbanes-Oxley Act"). Contemporary Issues Involving Business Ethics We'll discuss the ethical issues involved in whistle-blowing and employee privacy later in the class when we cover employment law, so we won't cover it here....
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This note was uploaded on 12/02/2011 for the course GEN BUS 201 taught by Professor Susanpark during the Fall '11 term at Boise State.

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