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Lecture 10

MGT 201 Lecture 10: Lecture10

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MGT 201

Lecture 10 Chapter 3 – Ethics and Corporate Social Responsibility • Introduction: o Ethics: ▪ The study of moral standards and their effect on behavior and conduct o Morality: ▪ The standards that people use to judge what is right or wrong, good or evil • Ethical Frameworks: o Utilitarianism: ▪ The ethical philosophy claiming that behaviors are considered moral if they produce the greatest good, or utility, for the greatest number of people o Kantianism: ▪ An ethical philosophy claiming that motives and universal rules are important aspects in judging what is right or wrong o Fiduciary: ▪ A person who is entrusted with property, information, or power to act on behalf of a beneficiary o Virtue ethics: ▪ An ethical philosophy claiming that morality’s primary function is to develop virtuous character • Virtues and Character o Measure of a virtuous character ▪ A person’s ability to recognize the moral elements of a situation ▪ How well a person makes moral judgments ▪ How consistent a person’s actions are with those judgments ▪ How well a person can teach others to exhibit character • Intent, Means, and Outcome o Intentions – what leader hoped to accomplish: ▪ Purpose: financial gain or personal advancement or advancement of society ▪ Vision: defined or emergent ▪ Innovation: incremental or breakthrough ▪ Goal: growth or stability o Means – how leader went about achieving objectives: ▪ Clear values or flexible pragmatism ▪ Empowering or exploiting people and processes ▪ Inclusive or exclusive o Outco
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