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Midterm

Midterm Summary.doc

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Department
Administrative Studies
Course
ADMS 3660
Professor
All Professors
Semester
Summer

Description
Week 1Introduction to Business Ethics and Social ResponsibilityBusiness and Society Business Ethicsa disciple that deals with whats right and whats wrong whats just and unjust oAbout decision makingoEmphasizes the moral capacity of individuals within companiesObjective oBe aware critical ethical and social issues in business oUnderstand analytical capacity oActto resolve ethical issues at many level The Two Concepts Business Ethics and CSR Business ethicsCSRIndividualCorporateFrom the manager to the company From the external environment to the external environmentto the corporate levelAssumes high level of managerial Assumes moderate managerial discretiondiscretionOwnermanager does rightWhole company destroys or improves society Charles Dickens Christmas CarolBig business is highly visible than small ones because its products and adverting are more widely known and different industries have different creation of visible controversial social problems oAirWater pollution Manufacturing firms vs Insurance industryoAdvertisingintensive nature of their product Sony WalMartoPossible effects on hearth Cigarette food product firm or healthrelated products pharmaceutical firmMacroenvironmentthe total society context total environment outside the firm in which the organization resides oFahey and Narayanans View of Macroenvironment PESTPolitical Economic Social and Technology Environment Pluralisma condition in which there is diffusion of power among the societys many groups and organizations A Pluralistic Society is one in which there is wide decentralization and diversity of power concentration oStrengths of Pluralistic social system Prevent power from being concentrated in the hands of fewMaximize freedom of expression and actionProvide for a builtin set of checksbalance so that no single group dominateoWeakness of Pluralistic social system Creates an environment in which diverse institutions pursue their own selfinterests with the result that there is no central direction to unify individual pursuits Groups and institutions proliferate to the extent that their goals tend to overlap thus causing confusion as to which organizations best serve which functions Pluralistic forces conflict onto centre stage because of its emphasis on autonomous groups each pursuing its own objective Stakeholders morals from the outside inSpecialInterest SocietyCanada has carried the idea of pluralism to an extreme in which we have literally tens of thousands of specialinterest groups each pursuing its own limited agenda become increasingly activist intense diverse and focused on single issues Business Criticism and Corporate Response Factors in the Social Environment Affluence EducationAwareness through mediaRevolution of Rising ExpectationsEntitlement MentalityRights Movement right to privacy due process etcVictimization PhilosophyBusiness CriticismIncreased concern for the Societal EnvironmentA changed Social Contract Social Problem is a gap between societys expectation of social conditions and the present realities or gap between business performance and its actual social performance Business PowerThe ability or capacity to produce an effect or to bring influence to situation or people The four Levels of PoweroMacro levelcorporate system ie totality of business organization oIntermediate levelgroups of corporations acting in concert in an effort to produce a desired effect raise price control market promote issue pass or defeat legislation oMicro levelthe level of individual firm Microsoft WalMart etcoIndividual levelindividual corporate leader exerting power Ted Roger Bill Gate Spheres of PowerEconomic Political SocialCultural Individual Technology Environment Powers Balance of Power and Responsibilitypowerresponsibility relationship is the foundation of corporate social reasonabilityIron Law of ResponsibilityIn the long run those who do not use power in a manner society considers responsible will tend to lose itBusiness RespondConcern and Changing Social Contract Elements in the Social Contract
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