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10 Cards in this Set
- Front
- Back
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Social Responsibility
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proposes that a private corporation has responsibilities to society that extend beyond making a profit
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Friedman’s traditional view
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Primary goal of business is profit maximization not spending shareholder money for the general social interest
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Carroll’s four responsibilities of business
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Economic
Legal Ethical (social) Discretionary (social) |
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Characteristics of Sustainability
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-Environmental
-Economic -Social |
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Stakeholders
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have an interest in the business and affect or are affected by the achievement of the firm’s objectives.
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Stakeholder Analysis
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the identification of corporate stakeholders, and how to manage these relationships.
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Reasons for Unethical Behavior
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-Unaware that behavior is questionable
-Lack of standards of conduct (everybody does it) -Different cultural norms and values -Behavior-based or relationship-based governance systems -Different values between business people and stakeholders |
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Code of Ethics
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specifies how an organization expects its employees to behave while on the job
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Whistleblowers
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employees who report illegal or unethical behavior on the part of others
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Kant’s categorical imperatives
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1. Actions are ethical only if the person is willing for the same action to be taken by everyone who is in a similar situation (& done to them…)
2. Never treat another person simply as a means but always as an end |
