21407 Lecture Notes - Lecture 4: Corporate Social Responsibility, Virtue Ethics, Stakeholder Analysis
Document Summary
Johnson (2003): all practices have an ethical foundation. Hart (1993): unitarist perspective (cid:494)concept of (rm is devoid of morality(cid:495) Agency theory (friedman): social responsibility of bs is to its stakeholders. Our concern for good behaviour (obligation to consider society as a whole) Ethical philosophy differs from sciences - normative/prescriptive (not descriptive - tells us how we ought to act/what we should do) The degree to which best practice or best fit approaches are adopted. Winstanley (cid:523)2000(cid:524): (r function holds the moral (cid:494)stewardship(cid:495) of organisations. Ethics: applies to persons & morals: applies to behaviour. Relativism: idea that morality varies with culture, time and circumstances. Absolutism: there are universal truths/principles (e. g. do not steal) Best decisions = those that produce greatest good for greatest no. of people. Deontological approaches: duty ethics applying reason to create moral absolute. Human rights: people are entitled to a basic set of human rights. Virtue ethics: acting as a good person.
