Chapter 5 Management

Front 1

Decisions that managers face that have a social responsibilities dimension

Back 1

Employee relations, philanthropy, pricing, resource conservation, product, quality and safety
And doing business in countries that violate
Human rights

Front 2

The classical view of social responsibility holds that

Back 2

Managements only social responsibility is to
Maximize organizational profits for stockholders

Front 3

The most outspoken advocate of the classical view

Back 3

Of social responsibility is
Economist and Nobel laureate Milton Friedman

Front 4

According to the classical view

Back 4

Corporate manager should
Maximize value to shareholders

Front 5

A leading proponent of the classical view

Back 5

Argues that anytime managers decide on their own To spend their organizations resources for the “social good”
They are adding to the costs of doing business.

Front 6

Proponents of the socioeconomic view of social responsibility

Back 6

Believe that business organizations are Not just merely economic institutions

Front 7

Ethical obligation argument

Back 7

The belief that businesses should be responsible Because such actions are right For their own sake

Front 8

The belief that businesses that help solve

Back 8

Difficult social problems create a desirable Community and attract and keep skilled employees
Is known as the better environment argument for social responsibility

Front 9

The belief that business are being socially responsible

Back 9

When they attend only to economic interests Is know as the violation of profit maximization argument

Front 10

The belief that the costs of social activity

Back 10

Are passed on as higher prices to
Consumers is known as the “cost” argument against
Being socially responsible

Front 11

Social obligation is

Back 11

The obligation of a business
Meet its economic

Front 12

Social responsibility

Back 12

Is defined as a business firm’s obligation

Front 13

The aspect that differentiates social responsibility

Back 13

From other similar concepts
Is that it adds an ethical imperative

Front 14

In the United States, a company that meets

Back 14

Federal pollution control standards and Does not discriminate in hiring, promotion, and pay is
Meeting its social obligation and nothing more
Because laws mandate these actions

Front 15

When a firm advertises that it only

Back 15

uses recycled paper product is Being socially responsive

Front 16

The basic definition of ethics

Back 16

Rule of principles that define
Right and wrong conduct

Front 17

The primary debate about

Back 17

Ethics training programs is
Whether ethics can be

Front 18

More than any other quality

Back 18

Of leadership, employees crave
honesty