management ch 5, 7-9

summarize the four practical lessons from business ethics research

1. 48 percent surveyed workers reported engaging in illegal or unethical practices. 2. perceived pressure from above can erode ethics 3. employees desire clear ethical standards in ambiguous situations. 4. rationalization sometimes enables good people to bad things. better business ethics is a personal challenge.

discuss what management can do to improve business ethics.

conduct ethics training; use ethical advocates in high level decision making; formulate, disseminate, and consistently enforce specific codes of ethics; create an open climate for dissent in which whistle blowing becomes unnecessary.

distinguish between instrumental and terminal values and explain their relationship to business ethics

instrumental values are related to desired behavior and terminal values involve desired end states. values provide an anchor for ones ethical beliefs and conduct.

identify and describe the four social responsibility strategies and explain the concept of enlightened self interest

reaction (denying social responsibility) , defense (involves actively fighting additional responsibility with political and public relations) , accommodation ( a company must be pressured into assuming additional social responsibilities), proaction (a business takes the initiative and becomes a positive model for its industry). according to the notion of enlightened self-interest, both society and the company will gain in the long run. research indicates that corporate philanthropy actually is a profit motivated form of advertising.

identify and describe at least four of the ten general ethical principles.

self interests, personal virtues, religious injunctions, government requirements, utilitarian benefits, universal, rules, individual rights, economic efficiency, distributive justice and contributive liberty.

contrast the classical economic and socioeconomic models of business and summarize the arguments for and against CSR

those who embrace the classical economic model contend that business's social responsibility is to maximize profits for stockholders. those of the socioeconomic model disagree saying that business has a responsibility above and beyond making a profit to improve general quality of life. the argument FOR CSR says that businesses are members of society with resources and motivation to improve society and avoid government regulation. those arguing AGAINST CSR call for profit maximization because businesses are primarily economic institutions run by unelected officials who have enough power already.

define: corporate social responsibility (CSR) and specify the four levels in carrolls global CSR pyramid.

CSR is the idea that management has broader responsibilities that just making a profit. the four levels of carrolls global csr pyramid are economic, legal, ethical , and philanthropic.