Ch 14 - Social Responsibility & Ethics_Web

Ch 14 - Social Responsibility & Ethics_Web - Social...

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1 Social Responsibility and Ethics
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2 Social Responsibility The obligation of an organization’s management to make decisions and take actions that enhance the welfare and interests of society as a whole . Social responsibility ≠ corporate charity Businesses as a part of society
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3 Historical Perspectives Profit Maximization Management Early 20 th century Often addressed through charity “Social Darwinism” Trustee Management Response to depression of the 1930’s Espoused active federal intervention; government assumed more responsibility for health and economic welfare Quality-of-Life Management Emerges in the mid-60’s Society expects businesses to help address societal problems
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4 Philosophical Perspectives Traditional Philosophy Maximization of profit –ultimate goal “What’s good for business is good for society” “Buyer Beware” attitude to business transactions Mgrs accountable only to superiors Government maintains hands-off role Stakeholder Philosophy Mgrs are accountable to certain stakeholders who has a stake in a company’s performance “Enlightened self-interest” – responding to stakeholders is good for business Affirmative Philosophy Anticipate stakeholder needs and voluntarily limit activities that may be damaging to society as a whole.
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5 Responses to Social Responsibility Obstructive Response Deny responsibility, obstruct investigations Defensive Response
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Ch 14 - Social Responsibility & Ethics_Web - Social...

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