social responsibility and managerial ethics

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SOCIAL RESPONSIBILITY AND MANAGERIAL ETHICS:

SOCIAL RESPONSIBILITY AND MANAGERIAL ETHICS PRESENTED BY: SACHIN VERMA

SOCIAL RESPONSIBILITY:

SOCIAL RESPONSIBILITY Social responsibility is an ethical ideology or theory that an entity , be it an organization or individual , has an obligation to act to benefit society at large. Social responsibility is a duty every individual or organization has to perform so as to maintain a balance between the economy and the ecosystem.

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The Classical View Management’s only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation). Expending the firm’s resources on doing “social good” unjustifiably increases costs that lower profits to the owners and raises prices to consumers

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The Socioeconomic View Management’s social responsibility goes beyond making profits to include protecting and improving society’s welfare. Corporations are not independent entities responsible only to stockholders. Firms have a moral responsibility to larger society to become involved in social, legal, and political issues. “To do the right thing”

MANAGERIAL ETHICS:

MANAGERIAL ETHICS Ethics Rules and principles that define right and wrong conduct Three Views of Ethics Utilitarian view - ethical decisions are made on the basis of their outcomes or consequences

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Rights view - respects and protects individual liberties and privileges Theory of justice view - managers impose and enforce rules fairly and impartially

FACTORS THAT AFFECT EMPLOYEE ETHICS:

FACTORS THAT AFFECT EMPLOYEE ETHICS

Affecting Individual Characteristics Ethical Behaviors:

Affecting Individual Characteristics Ethical Behaviors Values Basic convictions about what is right or wrong on a broad range of issues

Individual Characteristics:

Individual Characteristics Personality Variables Ego strength A personality measure of the strength of a person’s convictions Locus of Control A personality attribute that measures the degree to which people believe they control their own life. Internal locus: the belief that you control your destiny. External locus: the belief that what happens to you is due to luck or chance.

Determinants of Issue Intensity:

Determinants of Issue Intensity

HOW MANANGERS CAN IMPROVE ETHICAL BEHAVIOUR IN AN ORGANISATION:

HOW MANANGERS CAN IMPROVE ETHICAL BEHAVIOUR IN AN ORGANISATION Hire individuals with high ethical standards. Establish codes of ethics and decision rules. Lead by example. Delineate job goals and performance appraisal mechanisms. Provide ethics training. Conduct social audits. Provide support for individuals facing ethical dilemmas.

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