1 lamb, hair, mcdaniel chapter 3 ethics and social responsibility 2010-2011
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Lamb, Hair, McDaniel
CHAPTER 3
Ethics and Social Responsibility
2010-2011
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LO 1 Explain the concept of ethical behavior
LO 2 Explain ethical behavior in business
LO 3 Discuss corporate social responsibility
Learning OutcomesLearning Outcomes
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Ethical Behavior
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Explain the concept of ethical behavior
LO1
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Ethical Behavior
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Unwritten rules governing interactions
•sharing resources
•honoring contracts
•waiting in line
LO1
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Ethical Behavior in Business
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Describe ethical behavior
in business
LO2
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Ethical Behavior in Business
EthicsEthics
MoralsMorals
The moral principles or
values that generally govern
the conduct of an individual.
The rules people develop as a result of cultural values and norms.
Morals involve “good” and “bad” as well as “deviant” behaviorsLO2
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Ethical Development Levels
PreconventionalMorality
ConventionalMorality
PostconventionalMorality
MoreMature
MoreChildlike
• Based on what will be punished or rewarded
• Self-centered, calculating, selfish
• Moves toward the expectations of society
• Concerned over legality and the opinion of others
• Concern about how they judge themselves
• Concern if it is right in the long run
LO2
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Ethical Decision Making
Influential Factors
Extent of Problems
Top Management Actions
Potential Consequences
Social Consensus
Probability of Harm
Time UntilConsequences
Number Affected
LO2
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Creating Ethical Guidelines
• Helps identify acceptable business practices
• Helps control behavior internally
• Avoids confusion in decision making
• Facilitates discussion about right and wrong
9LO2
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Ethical Guidelines and Training
Exhibit 3.3
LO2
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Corporate SocialResponsibility
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Discuss corporate social responsibility
LO3
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Sustainability
• Socially responsible companies will outperform their peers
• It is in business’s best interest to find ways to attack society’s ills
LO3
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Discuss CorporateSocial Responsibility
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EthicalDo what is right.
LegalObey the Law.
EconomicBe profitable.
PhilanthropicBe a good citizen.
LO3
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Arguments AgainstSocial Responsibility
• Businesses should focus on making a profit and leave social and environmental concerns to nonprofits
• Businesses don’t have the expertise to deal with social issues and doing so may interfere with the primary goals of their firms
• The expense of social responsibility may damage the country in the global marketplace
14LO3
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Arguments for Social Responsibility
• The right thing to do
• Business should police itself to avoid government intervention
• Small companies can prosper and build shareholder value as they tackle social problems
15LO3
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Cost of Ignoring Social Responsibilities
• Treating key stakeholders poorly can cost companies significant fines and loss of respect
LO3
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Green Marketing
• More prevalent with increase in environmental awareness– Environmentally aware customers pay
more for products– Companies must to educate customers
of environmental benefits
LO3
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Environmentally Aware Advertising
The Blog Oddee has gathered some of this year’s most creative environmentally aware campaigns: www.oddee.com
Denver Water Authority’s campaign gets the conservation word out in creative ways:http://www.useonlywhatyouneed.org/Bandwagon/CampaignTrain/
LO3