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Managing Ethics and

Social Responsibility
Week 7

Lecture Outline
Managing Ethics

What is Managerial Ethics?


Ethical Dilemmas
Criteria for Ethical Decision Making
Three Levels of Personal Moral Development

Social Responsibility
What is Corporate Social Responsibility?
Evaluating Corporate Social Responsibility
Sustainability
Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

What is Managerial
Ethics?
Ethics - code of moral principles and
values that govern the behaviors of
right or wrong
Standards about good/bad

People in organizations have


divergent views about
right/wrong- complex

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Three Domains of Human


Action

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Ethical Management
Today
55% of survey respondents think that
cheating in business is more common than
10 years ago
More businesses are being associated with
greed, deceit, and irresponsibility
Managers are responsible for setting an
ethical climate and act as models
Executive compensation has become a hot
issue related to ethical management
What about Ghana?
Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Discussion Question
Do you believe it is ethical for
organizational managers to try to get
access to and scrutinize Facebook
pages of employees or job
applicants?

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Examples of Unethical and


Illegal Organizational Behavior

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Ethical Dilemmas

What potential ethical dilemmas do


anticipate to encounter in the work
place after graduation?
What ethical dilemmas do you face as
students?

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Criteria for Ethical Decision


Making
Utilitarian Approach
Example

Individualism Approach : egoism


Example

Moral-Rights Approach :

the right of free speech,


the right to due process, and the right to life and safety, no one
shall be subjected to torture or to cruel, inhuman or degrading
treatment or punishment.

Example

Justice Approach: Distributive & procedural


Example
Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Virtue Ethics and


Practical Approaches
Virtue ethics approach: moral
behavior stems from personal virtues

Practical approach: prevailing


standards of the profession, larger society
and stakeholder interests

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Factors that shape managers


ethical decision making

Personality
Personal needs
Family influence
Religion
Organizational values
Organizational culture

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Three Levels of Personal Moral


Development

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

What is Corporate Social


Responsibility?
Distinguishing right from wrong; doing
right
Good corporate citizenship
Make choices that contribute to society
as well as the organization
Organizational Stakeholders ?

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Major Stakeholders Relevant to


Monsanto Company

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Sustainability
Sustainability economic
development that generates
wealth and meets the needs of
current population while
preserving the environment for the
needs of future generations

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Evaluating Corporate Social


Responsibility

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Managing Company Ethics and


Social Responsibility
Code of Ethics
Ethical Structures
Whistle-blowing

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Building an Ethical
Organization

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

The Business Case for Ethics and


Social Responsibility
Ethics and social responsibility
is an important business issue
Stakeholders are pushing more
initiatives and issues
The connection between ethics
and financial performance has
been widely debated
What do you THINK?

Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.

Some questions to
consider
Identify important stakeholders for an organization
and discuss how managers balance the interests of
various stakeholders.
A noted business executive said, A companys first
obligation is to be profitable. Unprofitable enterprises
cant afford to be socially responsible. Discuss why
you agree or disagree with this statement.

THANK YOU, Any Questions?


Copyright 2013 by South-Western, a division of Cengage Learning. All rights reserved.