MGNT110 NOTES.docx

Two kinds of egoism personal do not care about what

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Two kinds of egoism: Personal (do not care about what others do) Impersonal (have a say on what others should do) - Zimbardo's Stanford prison experiment Individualism approach The ethical concept that acts are moral when they promote the individual’s best long-term interests, which ultimately leads to greater good Often perceived as gratifying immediate self-interest Kant’s ethics Good will “human capacity to act from principle” The categorical imperative Universal acceptability “we should always act in such a way that we can will the maxim of our action to become a universal law” Humanity as an end, never as merely a means Respect the dignity of each individual human being The categorical imperative gives us firm rules to follow in moral decision-making. Kant introduces an important humanistic dimension into business decisions. Kant stresses the importance of motivation, and of acting on principle. Justice approach The ethical concept that moral decisions must be based on standards of equity, fairness and impartiality Concepts of: Distributive justice : Different treatment of people not be based on arbitrary characteristics (salary for men and women) Procedural justice : Requires rules be administered fairly Compensatory justice : Compensation for the cost of their injuries by the party responsible Moral rights approach The ethical concept that moral decisions are those that best maintain the rights of those people affected by them People have fundamental rights and liberties that cannot be taken away such as: The right to freedom speech The individual manager and ethical choices Influenced by several factors One model suggests levels of moral development: Pre-conventional : Follows rules to avoid punishment, acts in own interests and obedience for its own sake Conventional : Lives up to expectations of others, fulfils duties and obligations of social system and upholds laws. Post-conventional : Follows self-chosen principles of justice and right, aware of differences and balances concern for individual with concern for common good
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WHAT IS Corporate social responsibility? How an organisation achieves a balance between business, environmental and social concerns. Obligation of organisation management to make decisions and take actions that will enhance the welfare and interests of society as well as the organisation View organisation as having internal and external stakeholders Careful balancing of stakeholder needs Organisational stakeholders Refers to individuals and groups that have a stake in the organisation’s performance Organisations can use stakeholder mapping to identity stakeholders’ needs and expectations Corporate Social Responsibility Continuum → Four approaches to social responsibility Obstructionist : unethical and illegal behaviour Defensive : a commitment to ethical behaviour – staying within the law.
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