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Chapter 4

Chapter 4 - Social Environment

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Wilfrid Laurier University
Sofy Carayannopoulos

Keith DiazChapter 4Social Environment EthicsIndividual ethics ethics are based on individual beliefs and social concepts regarding what is right and wrong or good and badvary we are influenced by peers and as experiences shape our lives Managerial ethics standards of behaviour that guide individual managers in their work 1 Behaviour toward employees hiring and firing wages working conditions privacy and respect 2 Behaviour toward organization conflict of interest when an activity benefits an individual at the expense of the employer confidentiality and honesty 3 Behaviour toward other economic agents relationship with customers competitors stockholders suppliers dealers and unions In dealing with such agents there is ethical ambiguity in every activityadvertising financial disclosure bargaining and negotiation etcAssessing ethical behaviour1 Gather relevant factual information 2 Analyze situation determine the most appropriate moral valuesUtilitarian approach generates the most good for most peopleRights approach dont violate basiclegal rightsFairnessjustice approach equitable distribution of burdens and awardsCaring approach consistent with peoples responsibilities to each otherIf no on all 4 criteria the actpolicy is unethicalIf yes on 23 criteriaIs there any reason for overriding 12 of the ethical normsIs one ethical norm more important than the othersIs there any reason why one may have been forced into committing an actfollowing a policy 3 make judgment based on the rightness or wrongness of the proposed activity or policyManaging ethics in organizationsorganizations try to promote ethical behaviour but the unethical and illegal activities of both managers and employees have motivated many firms to take additional steps to encourage ethical behaviourestablish codes of conduct and develop clear ethical positions on how the firm and its employees will conduct their businesshiring criteria managerial role modeling mission statement code of conduct ethics booklets and training goals and evaluation criteria rewards systems employee protection mechanismsStakeholderspeople who have an interest in the actions of an organization and who have the ability to influence it or are significantly affected by the organizations activitiesStakeholders importance depends on situation and the issue affect willingness and opportunity to act may have conflating expectationsBusinessStakeholder connectionstakeholders provide business with the capacity to operateowners and creditors capitalcustomers purchasesemployees human resourcesBOD leadershipNatural environment natural resources
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