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Chapter 2 (Business Ethics and Social Resp)

This document discusses business ethics and social responsibility. It defines three types of conduct: rule of man, rule of men/society, and rule of law. It then discusses the role of ethics in business, including issues like bribes and conflicts of interest. It provides steps for making decisions about ethical issues and improving ethical behavior in a business, such as developing a code of ethics. The document also discusses the nature of social responsibility and stages from economical to voluntary citizenship. Finally, it outlines some key social responsibility issues companies may face, like relations with stakeholders and sustainability.

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Sumera Kazi
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120 views12 pages

Chapter 2 (Business Ethics and Social Resp)

This document discusses business ethics and social responsibility. It defines three types of conduct: rule of man, rule of men/society, and rule of law. It then discusses the role of ethics in business, including issues like bribes and conflicts of interest. It provides steps for making decisions about ethical issues and improving ethical behavior in a business, such as developing a code of ethics. The document also discusses the nature of social responsibility and stages from economical to voluntary citizenship. Finally, it outlines some key social responsibility issues companies may face, like relations with stakeholders and sustainability.

Uploaded by

Sumera Kazi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CHAPTER 2

Business Ethics & Social


Responsibility
Business Policy
Instructor: Sumera Kazi
Conduct
Rule of Man Rule of Men/Society Rule of Law

■ Moral ■ Ethical ■ Legal


■ basic standards,
■ Individually ■ Society imposed
values, and attitudes.
imposed ■ Societal values ■ Laws are imposed to
■ Personal values avoid:
– Frauds
– Thefts
– Violence etc.
Role Of Ethics In Business
■ Ethical issues
– Bribes
– Misuse of company time
– Abusive and intimidating behavior
– Misuse of company resources
– Conflict of interest
■ Fairness and honesty
– Communications
– Business relationships
■ Plagiarism
Making Decisions About Ethical Issues

• legal restrictions or violations?


• Specific code of ethics or policy on the action?
• Any industry trade groups that address this issue?
• Would this activity be accepted by your co-workers?
Will your decision or action with stand open
discussion with co-workers and managers and survive
faultless?
• How does this activity fit with your own beliefs and
values?
Improving Ethical Behavior In Business

Managers’ Opportunity:
Individual Ethical/Unethical
and co- Code &
standard
compliance
Choices in
workers’
and values requirement Business
influence
Code of Ethics
■ Formalized rules and standards that describe what the company expects
of its employees.
■ Codes and policies on ethics encourage the creation of an ethical culture
in the company
■ The enforcement of ethical codes and policies through rewards and
punishments increases the acceptance of ethical standards by employees.
– Whistleblowing: employee exposes an employer’s wrongdoing to outsiders
■ Developing code of ethics
– Create a team (managerial and non-managerial staff)
– Solicit inputs from all employees, regarding common questions.
– Make headings clear, understandable and use images to get memorized
– Hold group meetings, distribute minutes.
– Let all employee know that they will receive future training in code document.
The Nature Of Social Responsibility
Stage 1 Economical
• Earning profits
• Providing healthy ROIs

Stage 2 Legal
• Specifying policies, codes of licensing, Corporate
• payments and legal tax agreements Citizenshi
p
Stage 3 Ethical
• Offering welfare benefits to employee
• Supporting with fair prices

Stage 4 Voluntary
• working for non-profit activities
• Supporting communities.
FOR & AGAINST
OF
SOCIAL RESPONSIBILITY
SOCIAL RESPONSIBILITY ISSUES
• Relations with Owners and Stockholders.
• Employee Relations
• Consumer Relations
• Consumerism
• John F. Kennedy’s 4 rights
• Right To Safety
• Right To Be Informed
• Right To Choose
• Right To Be Heard
• Sustainability Issues.
• Pollution
• Alternative Energy
• Response to Environmental Issues.
• Community Relations.

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