Summary management ch5 social responsibility and

Lawmakers have ruled that people and corporations must behave in a certain way, such as obtaining licenses for cars or paying taxes.

personal and social responsibility

This would punish companies financially. International law is weak in addressing social impacts of business. Compensatory justice argues that the party responsible should compensate individuals for the cost of their injuries.

social and moral responsibility

The action that is intended to produce a greater ratio of good to bad for the individual compared with other alternatives is the right one to perform. Social responsibility covers a wide range of issues, many being ambiguous as to what is right or wrong.

All rights reserved 12 General Principles of Corporate Social Responsibility Corporations are economic institutions run for profit.

Managing social responsibility and ethics

Social Responsiveness - when a firm engages in social actions in response to some popular social need. Ethics programs cost money, so managers are concerned whether good citizenship will hurt performance. Each stakeholder has a different criterion of responsiveness because it has a different interest in the organisation. An accommodative response means that the organisation will try to meet whatever legal or ethical responsibilities confront it. Martin Luther King, Jr, subscribed to the justice approach of ethics. Lead by example. This question is designed to stimulate discussion and students are likely to express differing opinions. Conduct independent social audits. Only about 20 per cent of adults reach the principled level of moral development. Managers faced with tough ethical choices often use normative ethics based on norms and values to guide their decision making. The purely profit-maximising view is no longer considered an adequate criterion of performance in Canada, the United States and Europe. Insurance rates would then rise to compensate for this high risk. The manager The manager brings specific personality and behavioural traits to the job. Furthermore, sustainable development practices cannot fix an ailing strategy, but they can complement a promising one by stimulating innovation and change that will deliver a premium on long-term business success.

While many students will likely answer that they would be most affected by their individual moral development, this may be an idealistic exaggeration.

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Chapter 5 managing ethics and social responsibility