MGMT 1040 Chapter Notes -Moral Treatment, Stakeholder Theory, Tylenol (Brand)
Document Summary
Amoral businesses that solely focus on the bottom line are expected to be more financially healthy than businesses that are moral. This is because amoral businesses focus far more on financials through their allocation of resources. However, in the long run, moral businesses that spend time fulfilling their social responsibility are highly likely to improve their bottom line (more so than amoral businesses even). Reciprocity is the most logical reason for morality (hosmer, 113). Reciprocity is referred to as people treating others as how they would like to be treated. (thus, ethical treatment is reciprocated). According to hosmer, more importantly than reciprocity is the quality of our lives in relevance to how we balance our duties and responsibilities found in our profession, organizations, communities and our personal lives. Is a very important focus of managers to create with stakeholders: stakeholders must be treated in an ethical way to build trust and confidence.