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Chapter 5

COMMERCE 1B03 Chapter Notes - Chapter 5: Corporate Social Responsibility, Environmental Values


Department
Commerce
Course Code
COMMERCE 1B03
Professor
Rita Cossa
Chapter
5

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Factors Influencing Managerial Ethics
Individual
Organizational
Environmental
Values
Work background
Family status
Personality
Top level management
philosophy
The Firm’s Reward
System
Job Dimension
Competition
Economic conditions
social/cultural
institutions
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
alternatives
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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