MHR 301 Study Guide - Midterm Guide: Swot Analysis, Corporate Social Responsibility, Virtue Ethics

• School: Cal Poly Pomona
• Department: Management and Human Resources
• Course: MHR 301
• Professor: Z.Aytug

Document Summary

Human beings have bounded ethicality and are subject to biases. Bounded ethicality refers to the systematic and predictable ways in which people engage in unethical acts without their own awareness that they are doing anything wrong. Managers often hire people who are like them, think that they are immune to conflicts of interest, and take more credit than they deserve. Why should we be ethical/socially responsible: 1. Long term benefits: high quality long term relationship, developing reputation of integrity, and modeling behavior to others. Profit maximization and corporate social responsibility used to be regarded as leading to opposing policies. The accumulated evidence indicates that social responsibility is associated with better financial performance. Ethical decision making case involves individually read and rank-order alternatives. Ethical issue is a situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong. One important set of ethical decision-making framework is universalism, utilitarianism, egoism.