2. LO 1 Explain the concept of ethical behavior LO 2 Describe ethical behavior in business LO 3 Discuss corporate social responsibility Learning Outcomes
3. The Concept of Ethical Behavior Explain the concept of ethical behavior LO 1
6. Ethical Behavior in Business Morals involve “good” and “bad” as well as “deviant” behaviors LO 2 Ethics Morals 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.
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8. Ethical Decision Making Influential Factors LO 2 Extent of Problems Top Management Actions Potential Consequences Social Consensus Probability of Harm Time Until Consequences Number Affected
13. Discuss Corporate Social Responsibility LO 3 Ethical Do what is right. Legal Obey the Law. Economic Be profitable. Philanthropic Be a good citizen.
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Notas do Editor
Chapter 3 Ethics and Social Responsibility Marketing cannot be accomplished in isolation. Even though the marketing function resides with marketers, the concept of marketing must permeate the entire organization.
Chapter 3 Ethics and Social Responsibility
Chapter 3 Ethics and Social Responsibility
Chapter 3 Ethics and Social Responsibility Notes: Ethical values are situation specific and time oriented. Everyone needs an ethical base to conduct in the business world and in personal life. One approach toward ethical values is to develop a personal set of ethics to examine the consequences of an act. A second stresses the importance of rules. Examples of Rules: * Always treat others as you would like to be treated. * Copying copyrighted computer software is against the law. * It is wrong to lie, bribe, or exploit.
Chapter 3 Ethics and Social Responsibility
Chapter 3 Ethics and Social Responsibility Notes: Ethical values are situation specific and time oriented. Everyone needs an ethical base to conduct in the business world and in personal life. One approach toward ethical values is to develop a personal set of ethics to examine the consequences of an act. A second stresses the importance of rules. Examples of Rules: * Always treat others as you would like to be treated. * Copying copyrighted computer software is against the law. * It is wrong to lie, bribe, or exploit. A third approach emphasizes the development of moral character in individuals, as shown in the three levels of ethical development on the next slide.
Chapter 3 Ethics and Social Responsibility
Chapter 3 Ethics and Social Responsibility Notes: There is no cut-and-dried formula for making ethical decisions, but these factors influence ethical decision making and judgments.
Chapter 3 Ethics and Social Responsibility Notes: Exhibit 3.3 provides an example of General Mills’ Code of Ethics
Chapter 3 Ethics and Social Responsibility Notes: Exhibit 3.4 provides an ethics checklist
Chapter 3 Ethics and Social Responsibility
Chapter 3 Ethics and Social Responsibility
Chapter 3 Ethics and Social Responsibility Corporate social responsibility is a business’s concern for society’s welfare. The components are: Economic: Profit is the foundation on which all other responsibilities rest. Legal responsibilities: Law is society’s codification of right and wrong; play by the rules of the game. Ethical responsibilities: Do what is right, just, and fair; avoid harm. Philanthropic responsibilities: Contribute resources to the community; improve the quality of life. These components are distinct but together constitute the whole. However, if the company doesn’t make a profit, the other three responsibilities are moot. Discussion/Team Activity: Research companies that are America’s most admired companies: General Electric Starbucks Wal-Mart Southwest Airlines FedEx Berkshire Hathaway Microsoft Johnson & Johnson Procter & Gamble
