There is a school of thought which sees social responsibility as a contractual obligation the firm owes to society (Donaldson 1983). Integrated social contract theory was developed by Donaldson and Dunfee (1999) as a way for managers to make ethical decision making, which refers to macrosocial and microsocial contracts. The former refers to the communities and the expectation from the business to provide support to the local community, and the latter refers to a specific form of
Companies must view themselves as part of an ecosystem; one entity in an interdependent interconnected environment. Each part of this ecosystem of business is impacted by the decisions and operations of the other parts. The organization of today and tomorrow has to adopt a system-centric model of business or suffer the consequences, most of which being dire and unforgiving. The key to business success is to make sure no part of the system is overlooked and undervalued. Research has revealed that there is a strong correlation between a stakeholder conscious organization’s
Ethics Paper MGT/498 January 20, 2014 Mix sustainable development, company social responsibility, stakeholder theory and accountability, and you have got the four pillars of company property. It’s an evolving construct that managers are adopting as another to the standard growth and profit-maximization model. Corporate sustainability is often viewed as a brand new and evolving company management paradigm. The term ‘paradigm’ is employed deliberately; in this company property is another to the standard growth and profit-maximization model. Whereas company property acknowledges that company growth and profitability are necessary, it additionally needs the corporation to pursue social group goals, specifically those about property development — environmental protection, social justice and equity, and economic development.
How do you perceive the role of a business/ organisational manager, ie what things does a manager need to do and what resources do they draw upon? Submit your answer for assessment. 3. Organisations and the individuals within them should consistently demonstrate ethical behaviours. What does this mean and how can you, as a leader, promote ethical workplace behaviours?
For example, a new legislation or a regulatory change of policies from the government will affect business activities. Social factors relate to changes in the behaviour, tastes and lifestyles of communities on a local, national and international scale. In a business, it is important for the marketing department to take account of the various social characteristics of the consumer groups for their target market. Legal factors relate to the laws, regulations and legislations which affect the way a business functions. For example, common law for business balance prohibits paying a little and getting a lot.
C. improve the performance of people. D. improve the quality of overall work life. 4) Which of the following statements about the management of organizational culture is NOT correct? A. dictate rules from the top of the organization. B. corporate culture can be managed by directly modifying the observable culture, shared values, and common assumptions that deal with issues of external adaptation.
ALL WK 1, DQ’s: WK 1, DQ 1: What is a business’s obligation to build an ethical culture and balance its desire for profit with ethical responsibilities to employees, customers, society, and the environment? Ethics is different from one person to the next, so it is imperative that business clearly define the norm for staff members and management. The decisions organizations make influence more than business partners, affiliates, culture, and others. It is important for organizations center of attention on maximizing shareholder revenue. Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations.
Employees should instruct to the customers that rights about fair dealing and competition. The internal users, who use the intranet, can be expects respect, comply and understand with company. In addition, the company requires their employees to refuse conflicts of interest between company and employees personal dealings. G.M Financial has protection of company asset section which is included tangible assets and intellectual property. The employees must keep company’s tangible assets and knowledgeable things.
EST1 Task 310.2.1-05: Ethical Situations in Business Western Governors University February 2, 2013 EST1 Task 310.2.1-05: Ethical Situations in Business Companies have four levels of social responsibility: 1) economic, 2) legal, 3) ethical, and 4) philanthropic. A company has to balance its duty to shareholders to make a profit with its contract with society to make socially responsible decisions. In order to increase profit, a company must understand the needs of the stakeholders and develop a coordinated plan which establishes standards within the company that can be understood and accepted by all employees; as well as supporting the needs of the community it serves. Company Q has supported the need to improve profit by closing two unprofitable stores. However, an analysis should be made regarding the need to close those stores.
Why? DQ 3: What are two platforms that business leaders can use to demonstrate and articulate their purpose, principles, and values? Discuss them. DQ 4: Do you think consumers hold companies responsible for their actions? Why is it important to have a corporate code of conduct?