COMMERCE 1B03 Chapter Notes - Chapter 5: Corporate Social Responsibility, Environmental Values
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Factors Influencing Managerial Ethics
●Top level management
●The Firm’s Reward
Personal Moral Philosophy and Ethical Behaviour
●The values business people use to make decisions have been acquired through family as well as
through educational and religious institutions
●Ethical values are situations specific and time oriented
○Moral idealism: individual rights or duties are universal, regardless of the outcome
○Utilitarianism: greatest good for the greatest number
Ethics Check Questions
●An ethical dilemma refers to a situation where you must choose between equally unsatisfactory
○Is it legal?
Am i violating any law or company policy?
○Is it balance?
Would i want to be treated this way?
○How will it make me feel about myself?
Would I be proud if my actions were public?
Corporate Social Responsibility
●The concern businesses have for the welfare of society and includes everything from hiring
minority workers to making safe products, minimizing pollution, using energy wisely, and
providing safe work environments
●Some critics of CSR believe that a manager’s sole role is to compete and win in the marketplace
●CSR defenders, believe that businesses owe their existence to the societies they serve.
●Corporate Philanthropy: includes charitable donations
●Corporate social initiatives: includes enhanced forms of philanthropy in that they are more
directly related to the company’s competencies
●Corporate responsibility: acting responsibly within company and towards society
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