fos chapter 3

fos chapter 3 - CHAPTER 3 Ethics First Then Customer...

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CHAPTER 3 Ethics First … Then Customer Relationships LECTURE OUTLINE I. MANAGEMENT’S SOCIAL RESPONSIBILITIES A. Social Responsibility—Management’s obligation to make choices and take actions that will contribute to the welfare and interests of society as well as those of the organization. B. Organizational Stakeholders. 1. Stakeholders—any group within or outside the organization that has a stake in the organization’s performance. 2. CCC GOMES — an acronym for stakeholders; C ustomers, C ommunity, C reditors, G overnment, O wners, M anagers, E mployees and S uppliers. C. An organization’s main responsibilities: 1. Economic — producing goods and services that society wants and to maximize profits for its owners and shareholders. 2. Legal — what society deems important with respect to appropriate corporate behavior. 3. Ethical — behaviors that are not necessarily codified into law and may not serve the corporation’s direct economic interests. 4. Discretionary — purely voluntary and guided by a company’s desire to make social contributions. D. How to demonstrate social responsibility: 1. Taking corrective action before required. 2. Working with affected constituents to resolve mutual problems. 3. Working to establish industry-wide standards and self-regulation. 4. Publicly admitting mistakes. 5. Involvement in appropriate social programs. 6. Helping correct environmental problems. 7. Monitoring the changing social environment.
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8. Establishing and enforcing a corporate code of conduct. 9. Taking needed public stands on social issues. 10. Striving to make profits on an ongoing basis. II. WHAT INFLUENCES ETHICAL BEHAVIOR? A. The individual’s role: 1. People behave differently because of their: a. Worldviews - people's different beliefs about the world around them. b. Morals - people's adherence to right or wrong behavior and right or wrong thinking. 2. Individuals usually can be placed into one of three levels of moral development: a. Pre-conventional — an individual acts in one’s own best interests, and thus follows rules to avoid punishment to receive rewards. Will break moral and legal laws. “What can I get away with?” b. Conventional — individual conforms to expectations of others. Upholds moral and legal laws. “What am I legally required to do?” c. Principled — an individual lives by an internal set of morals, values and ethics. These are upheld regardless of punishments or majority opinion. “What is the right thing to do?” B. The organization’s role is often characterized by pre-conventional or conventional levels of moral behavior. III. ARE THERE ANY ETHICAL GUIDELINES? A. What does the research say?
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fos chapter 3 - CHAPTER 3 Ethics First Then Customer...

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