HRT 350 Lecture Notes - Lecture 14: Philosophical Perspectives, Moral Rights

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Chapter 14 Social Responsibility and Ethics
Philosophical Perspectives on Business’ Social Responsibility
Traditional philosophy
o Bottom line: stockholders’ business
Stakeholder philosophy
o Whoever has a stake in a company’s performance
Affirmative philosophy
o Anticipate changes in stakeholders’ needs
Business Responses to Social Demands
Obstructive deny negative responsibility
Defensive admit some errors, but do what is legally required to correct the situation
Accommodating accept some responsibilities, meet the legal, economic, and ethical
responsibilities of a situation
Proactive take proactive actions to be social responsible
Pros of Social Responsibility Programs
Reduce operating costs
Enhance image and reputation
Greater customer loyalty
Increase ability to attract and retain employees
Greater access to capital
Potential avoidance of fines
Cons of Social Responsibility
Benefits are difficult to measure
Costs can be high
Time is taken away from business concerns
People have different interests
Companies do not have direct responsibility to be socially responsible
Business already has enough
Approaches to Assessing Ethical Behavior
Utilitarian greatest net good for society as a whole
Moral rights conduct that does not interfere with another’s rights and does not coerce
another party
Social justice good or bad? Depends on cultural differences
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