DSST Business Ethics and Society 2

Relativism to be judged based upon ones own feelings

This preview shows page 3 - 5 out of 15 pages.

Relativism – to be judged based upon one’s own feelings about what is right and wrong a) Not popular because society generally prefers universal standards of right and wrong 42) Social Responsibility – when a company takes into account society’s values and objectives when making decisions a) Companies that practice social responsibility try to balance being profitable with the needs of the those in the company a.i) Examples: fair employment practices, helping urban renewal and development, working with educational institutions, and limiting pollution 43) Corporate Social Responsibility (CSR) - also called Corporate Citizenship - emphasized obligations and accountability
Image of page 3

Subscribe to view the full document.

a) Weighs the impact of the company’s actions on society b) Also includes Corporate Social Responsiveness, and Corporate Social Performance 44) William Frederick – used the terms: a) CSR1 – for Corporate Social Responsibility b) CSR2 - for Corporate Social Responsiveness – emphasizes activity and action b.i) According to Ackerman and Bauer – social responsiveness is essential in that it denotes a dynamic action-oriented condition b.ii) According to Ian Wilson’s view of Social Responsiveness there are 4 possible business strategies and are modes of philosophies; which are (b.ii.1) Reaction – an organization that denies responsibility for its actions is assuming reaction strategy, (b.ii.1.a) an example of this was when the company that manufactured asbestos discovered it caused fatal lung disease, chose to hide the evidence rather than try and find safer working environments (b.ii.1.b) Or the tobacco company who knew that tobacco was addictive yet continued to promote “light cigarettes” and market them to teens (b.ii.2) Proaction – an organization that actively seeks to improve the welfare of society (b.ii.2.a) Example: Mary Kay contributing to women’s health issues like breast cancer (b.ii.3) Defense - a company that admits responsibility for its actions but responds by doing only the bare minimum (b.ii.4) Accommodation – a company that readily adapts their behavior to conform to public policy and responds to public expectations (b.ii.4.a) Example – a bank that goes beyond the minimum requirement of disclosure and maintains an on- demand disclosure policy c) CSR3 – Corporate Social Rectitude – concerns the moral correctness of policies formulated and actions taken 45) CSR Economic Responsibility - requirement that a company earn a profit comes under the heading economic responsibility a.i) Companies are required by the public to keep costs low, maximize sales, and earn a profit 46) CSR Legal Responsibility – when a company strives to meet its contractual obligations a) The public expects companies to obeying laws even when they disagree with them 47) CSR Ethical Responsibility – actions society regards as fair, in keeping with the protection of the stakeholders moral rights a) Activities that are because of the result of laws 48)
Image of page 4
Image of page 5

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern