Demanding ethical and socially responsible behavior
Transcript of Demanding ethical and socially responsible behavior
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Presentation onDemanding Ethical and Socially Responsible Behavior
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Presented bySudeshna Das
Department of Banking And Insurance
ID. No.: 51325067Batch No.:25th
University of Dhaka
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WHAT is ETHICS?• Ethics is the set of moral
principles or values that define right and wrong.
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FACING ETHICAL DILEMMAS
Ask yourself these questions:- Is it legal?- Is it balanced?- How will it
make me feel about
myself?
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ETHICS and YOUEthics begins with each of us
Plagiarizing from Internet materials is the most common form of cheating in schools todayStudies found a strong relationship between academic dishonesty and dishonesty at work
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Fostering Ethical Behavior• Leadership• Codes of Conduct
–Compliance-based–Integrity-Based
• Social Audits• Whistle Blowing
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Setting Corporate Ethical StandardsEthics Codes
• Compliance-Based Ethics Code:
Emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers.
Are long and specificAre usually accompanied by
increased “controls”
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Integrity-Based Ethics Code
Define the organization’s guiding valuesAre short and generalAre accompanied by an environment that supports ethically sound behavior.
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Social Auditing and whistle blowing• Social Audit – A systematic evaluation of an
organization’s progress toward implementing programs that are socially responsible and
responsive.
• Four Types of Social Audit Watchdogs
- Socially conscious investors- SRI (Social responsibity investing)
- Environmentalists- RAN (Rainforest Action Network)
- Union officials
- Customers
• Whistleblowers
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Steps to Improve Business Ethics1. Top Management 4. Ethics office
2. Employees 5. outsiders
3. Managers 6. Enforcement
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Corporate social responsibility
A business’s concern for the welfare of society as a whole. Three dimensions: Corporate philanthropyCorporate responsibilityCorporate policy
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COMPANIES WHO HAVE EXCEEDED OUR EXPECTIONS OF SOCIAL RESPONSIBILTY
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CORPORATE PHILANTHROPY AND SOCIAL INITIATIVES
• Corporate Philanthropy -- Includes charitable donations.
• Corporate Social Initiatives -- Include enhanced forms of corporate philanthropy.
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CORPORATE RESPONSIBILITY and POLICY
• Corporate Responsibility -- Includes everything from hiring minority workers to making safe products, minimizing pollution, using energy wisely, and providing a safe work environment.
• Corporate Policy -- The position a firm takes on social and political issues.
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PRESIDENT KENNEDY’S BASIC RIGHTS of CONSUMERS
Right To Safety . Right To Be InformedRight to ChooseRight To Be Heard
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RESPONSIBILITY To EMPLOYEES
• Create jobs and provide a chance for upward mobility.
• Treat employees with respect.• Offer salaries and benefits that help
employees reach their personal goals.
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Responsibility To Investors
Insider Trading – Insiders use private company information to further their own fortunes or those of their family and friends.
Unethical behavior does financial damage to a company and investors are cheated.
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Responsibility To Society and Environment
• Over one-third of working Americans receive their salaries from nonprofits – who are dependent on funding from others.
• The green movement emerged as concern about global warming increased.
• Many companies are trying to minimize their carbon footprints – the amount of carbon released during an item’s production, distribution, consumption and disposal.
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RESPONSIBILITY to the ENVIRONMENT
Environmental efforts may increase costs, but can offer good opportunities.
The emerging renewable-energy and energy-efficiency industries account for 9 million U.S. jobs.
By 2030, as many as 40 million “Green” jobs will be created
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INTERNATIONAL ETHICS AND SOCIAL RESPONSIBILITY
• Many businesses want socially responsible behavior from their international suppliers.
• In the 1970s, the Foreign Corrupt Practices Act criminalized the act of paying foreign businesses or government leaders in order to get business.
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THANK YOU
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Happy New Year !!!