b.e. & social responsibility
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B.E. & Social Responsibility
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- 1. pp. 48-61 Chapter 4 Business Ethics and Social Responsibility
- 2. Learning Objectives After completing this chapter, youll be
able to:
- Explain business ethics.
- Give reasons why ethical behavior is good for business.
- 3. Learning Objectives After completing this chapter, youll be
able to:
- Define social responsibility.
- Describe the social responsibilities of businesses.
- 4. Why Its Important Understanding business ethics and social responsibility informs you of your rights as a consumer, an employee, and a citizen.
- 5. Key Words ethics business ethics sweatshops Occupational Safety and Health Administration (OSHA) code of ethics social responsibility continued
- 6. Key Words conflict of interest Food and Drug Administration (FDA) Equal Pay Act Environmental Protection Agency (EPA)
- 7. What Is Ethics? Ethics is the set of moral principles by which people conduct themselves personally, socially, or professionally.
- 8. What Is Ethics? Business ethics is a set of guidelines about how a business should conduct itself. In general, for any business to be successful, it must operate legally, ethically, and humanely.
- 9. Ethics is the set of principles by which you conduct yourself in society. How often do you help the environment? What do you do? Source: The NPD Group Figure 4.1 ENVIRONMENTALLY FRIENDLY
- 10. Legal Responsibility Sweatshops are factories that pay workers poorly, are unsafe, and treat workers badly.
- 11. Legal Responsibility The Occupational Safety and Health Administration (OSHA) is a division of the Department of Labor that sets and enforces work-related health and safety rules.
- 12. Legal Responsibility Other independent agencies protect consumers, monitor broadcast communications, and address discrimination in the workplace.
- 13. Legal Responsibility Most businesses police themselves by distributing codes of ethics. A code of ethics is a set of guidelines for maintaining ethics in the workplace.
- 14. Legal Responsibility Businesses that regulate themselves are able to operate more freely.
- 15. Ethics as Good Business Unethical business practices can affect your business indirectly. The amount you make in profits from one unhappy customer can translate into a lot more lost because of missed repeat business.
- 16. Ethics as Good Business Treating employees unethically can also backfire. Mistreating employees leads to a high turnover rate. This increases the cost of hiring and training new employees.
- 17. Important Ethical Questions When considering a questionable
course of action, you have to ask yourself these important
questions:
- Is it against the law? Does it violate company or professional policies?
- 18. Important Ethical Questions
- What if everyone did this? How would I feel if someone did this to me?
- Am I sacrificing long-term benefits for short-term gains?
- 19. Making Decisions on Ethical Issues Here are some steps if
you find yourself in an ethical dilemma:
- Identify the ethical dilemma.
- Discover alternative actions.
- 20. Making Decisions on Ethical Issues
- Decide who might be affected.
- List the probable effects of the alternatives.
- Select the best alternative.
- 21.
- 22. Graphic Organizer Important Ethical Questions Graphic Organizer Does it violate the law or policies? ETHICAL DECISION Would this sacrifice long-term benefits for short-term gain? What if everyone did this, but its bad? UNETHICAL NO NO NO YES YES YES MAY BE UNETHICAL UNETHICAL
- 23. Fast Review
- How do companies benefit by enforcing their own codes of ethics?
- Why does it pay to treat customers ethically?
- 24. Fast Review
- What are some important ethical questions to ask?
- 25. Social Responsibility Social responsibility is the duty to do what is best for the good of society.
- 26. Social Responsibility The ethical obligations of a business
are to:
- Provide safe products
- Create jobs
- Protect the environment
- Contribute to the standard of living in society
- 27. Social Responsibility A conflict of interest is when a business is tempted to put profits before social welfare.
- 28. Responsibility to Customers The Food and Drug Administration (FDA) , a government agency, protects consumers from dangerous or falsely advertised products.
- 29. Figure 4.2 OVER-THE-COUNTER MEDICINE LABEL The FDA governs advertising and labeling of over-the-counter medicines. Analyze why the FDA officials might feel that regulation of advertising and packaging labels is necessary.
- 30. Responsibility to Customers Fair competition between businesses is healthy for the marketplace, but some companies dont always play reasonably.
- 31. Responsibility to Customers Some companies use unethical means to eliminate competition. One of the most common means is to conspire with other companies to control the market for a product.
- 32. Responsibility to Employees Businesses have a social responsibility to create jobs. They are expected to provide employees with safe working conditions, equal treatment, and fair pay.
- 33. Responsibility to Employees The Equal Pay Act (passed in 1964) requires that men and women be paid the same wages for doing equal work.
- 34. Responsibility to Employees The Americans with Disabilities Act bans discrimination against persons with physical or mental disability.
- 35. Responsibility to Employees Its in a companys best interest to treat its workers fairly otherwise low morale, poor productivity, and a high turnover rate are its troubles.
- 36. Responsibility to Society Businesses have responsibilities not only to customers and to employees but also to society as a whole.
- 37. Responsibility to Society In 1970, the U.S. government created the Environmental Protection Agency (EPA) , a federal agency that enforces rules that protect the environment and control pollution.
- 38. Responsibility to Society Many businesses plan for their social responsibilities just like planning for production and sale of their products.
- 39. Fast Review
- Define social responsibility.
- What is a conflict of interest?
- 40. Fast Review
- What do companies adopt in the workplace to treat their workers fairly?
- 41. Why should a company make a vested interest in nature over its products? continued
- 42. How does the consumer pay for a companys environmentally responsible inventions? continued
- 43. What are social issues youre interested in pursuing? How are businesses involved? continued
- 44. What government agency has a responsibility to protect society from genetically modified organisms?
- 45. pp. 48-61 End of Chapter 4 Business Ethics and Social Responsibility
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