Chapter 5,Social Responsibility and Managerial Ethics

Chapter 5,Social Responsibility and Managerial Ethics -...

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    CHAPTER 5 CHAPTER 5 Social Responsibility And  Social Responsibility And  Managerial Ethics Managerial Ethics
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Social Responsibility Social Responsibility When a firm engages in social activities  beyond its legal  and economic obligations  to do the right things and act in  ways that are good for society.                       Social Obligation When a firm engages in social activities because of its  obligations  to  meet  certain  economic  and  legal  responsibilities.
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Social Responsiveness Social Responsiveness When a firm engages in social activities in response to  some  popular social need.  Social Screening    Applying social criteria (screens) to investment decisions.
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Views on Social Responsibility Views on Social Responsibility Classical view    The view that management’s only social responsibility is  to maximize profits. Socio-economic view The  view  that  management’s  social  responsibility  goes  beyond  making  profits  to  include  protecting  and  improving society’s welfare. 
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Stages of  the progression of an  Stages of  the progression of an  organization’s social responsibility organization’s social responsibility Stage 1 Managers  are  following   classical  view  of  social  responsibility  and  obey  all  laws  and  regulations  while  caring stockholder’s interest. Stage 2 Managers  expand  their  responsibilities  towards  employees  by  improving  their  working  conditions,  expanding employee’s rights, increasing job security and  focusing on human resource concerns.
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Stages of  the progression of an  Stages of  the progression of an  organization’s social responsibility organization’s social responsibility  (cont’d)  (cont’d) Stage 3 Managers  expand  their  responsibilities  to  other  stake  holders  in  the  specific  environment  primarily  customers  and suppliers.  Actions for them may include fair prices,  high  quality  products  and  services,  safe  products  and 
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This note was uploaded on 01/19/2012 for the course ECON 501 taught by Professor Ibrar during the Spring '11 term at University of the Punjab.

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Chapter 5,Social Responsibility and Managerial Ethics -...

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