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©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
CHAPTER 4
Demanding
Ethical and
Socially
Responsible
Behavior
©McGraw-Hill Education.
LEARNING OBJECTIVES 1 of 2
1. Explain why obeying the law is only the first step
in behaving ethically.
2. Ask the three questions you need to answer
when faced with a potentially unethical action.
3. Describe management’s role in setting ethical
standards.
©McGraw-Hill Education.
LEARNING OBJECTIVES 2 of 2
4. Distinguish between compliance-based and
integrity-based ethics codes, and list the six steps
in setting up a corporate ethics code.
5. Define corporate social responsibility and
compare corporations’ responsibilities to various
stakeholders.
6. Analyze the role of U.S. businesses in influencing
ethical behavior and social responsibility in global
markets.
©McGraw-Hill Education.
PATTY STONESIFER
Martha’s Table
• Held high-level positions with
the Gates Foundation and
the White House.
• Founded Martha’s Table in
2013 with the goal of
providing healthy food,
affordable clothing and
quality education to D.C.’s
locals.
Photocredit:CourtesyofBill&MelindaGatesFoundation
©McGraw-Hill Education.
NAME that COMPANY
The wage and benefit packages offered by this
company are among the best in hourly retail. Even
part-time workers are covered by its health plan.
Increased benefits reduce employee turnover to less
than a third of the industry average.
Name that company!
©McGraw-Hill Education.
LIFE AFTER SCANDAL LO 4-1
Scandals have shaken the real estate, mortgage and
banking industries.
How do we restore trust in the free market system?
- Punish those who have broken the law.
- Make accounting records more transparent.
- Consider what is ethical, not just what is legal.
©McGraw-Hill Education.
BERNIE MADOFF’S
PONZI SCHEME
• Bernie Madoff is serving 150
years behind bars.
• His exclusive wealth
management firm was a
gigantic Ponzi scheme.
• Though exact amounts are
uncertain, it is believed he
stole about $65 billion from
his investors.
Photo credit: © Timothy A. Clary/AFP/Getty Images
©McGraw-Hill Education.
WHAT is a PONZI SCHEME? LO 4-1
• A fraud by paying returns to existing investors from
funds contributed by new investors.
• New investors are promised opportunities claimed to
generate high returns with little or no risk.
• Fraudsters focus on attracting new money to make
promised payments.
Source: Securities and Exchange Commission, www.sec.gov, accessed November 2014.
©McGraw-Hill Education.
WHAT are ETHICS? LO 4-1
Ethics -- The standards of moral behavior. Behaviors that
are accepted by society as right versus wrong.
Photo credit: © Image Source, all rights reserved.
©McGraw-Hill Education.
BASIC MORAL VALUES LO 4-1
Right:
• Integrity
• Respect for human life
• Self-control
• Honesty
• Courage
• Self-sacrifice
Wrong:
• Cheating
• Cowardice
• Cruelty
Photo credit: © UpperCut Images/Alamy Stock Photo
©McGraw-Hill Education.
ETHICS and YOU LO 4-2
• Plagiarizing from online
materials is the most
common form of cheating
in schools today.
• Studies found a strong
relationship between
academic dishonesty and
dishonesty at work.
Cartoon credit: © Marty Bucella, www.cartoonstock.com
©McGraw-Hill Education.
FACING ETHICAL DILEMMAS LO 4-2
Ask yourself these
questions:
1. Is it legal?
2. Is it balanced?
3. How will it make me feel
about myself? Photo credit: © UpperCut Images/Alamy Stock Photo
©McGraw-Hill Education.
BRIBERY BAD BOYS
Five FCPA Investigations LO 4-2
Company Case
Smith and Wesson Improper payments to foreign officials.
Stryker
Corporation
Bribing doctors and government officials in five
countries.
Hewlett-Packard Improper payments for contracts.
Bio-Rad
Laboratories
Subsidiaries made improper payments to officials in
Russia, Vietnam, and Thailand.
Diebold Bribed officials at government-owned banks.
Source: SEC, www.sec.gov, accessed November 2014.
©McGraw-Hill Education.
TURNING EX-CONS into ENTREPRENEURS
• Life after prison can be very
difficult for those with
criminal records.
• Catherine Rohr started Defy
Ventures to help ex-cons
launch their own businesses.
• Defy and Rohr’s other
organizations have helped
create 60 startups and many
ex-cons find employment.
Photo credit: © Ann Hermes/ The Christian Science Monitor/Getty Images
©McGraw-Hill Education.
TEST PREP
1. What are ethics?
2. How do ethics differ from legality?
3. When faced with ethical dilemmas, what
questions can you ask yourself that might help
you make ethical decisions?
©McGraw-Hill Education.
ETHICS START at the TOP LO 4-3
Organizational ethics begin at
the top.
Managers can help instill
corporate values in
employees.
Trust between workers and
managers must be based on
fairness, honesty, openness
and moral integrity.
Photo credit: ©Jose Luis Pelaez Inc/Blend Images LLC
©McGraw-Hill Education.
FACTORS INFLUENCING MANAGERIAL
ETHICS LO 4-3
Individual Organizational Environmental
• Values
• Work
Background
• Family Status
• Personality
• Top Level
Management
Philosophy
• Firm’s Reward
System
• Job Dimensions
• Competition
• Economic
Conditions
• Social/Cultural
Institutions
©McGraw-Hill Education.
ETHICS CODES LO 4-4
An increasing number of companies have adopted
written codes of ethics.
Compliance-Based Ethics Code -- Emphasize
preventing unlawful behavior by increasing control and
by penalizing wrongdoers.
Integrity-Based Ethics Code -- Define the
organization’s guiding values, create an environment that
supports ethically sound behavior and stress a shared
accountability.
©McGraw-Hill Education.
HOW to IMPROVE AMERICA’S
BUSINESS ETHICS 1 of 2 LO 4-4
1. Top management must adopt and unconditionally
support an explicit corporate code of conduct.
2. Employees must understand that senior
management expects all employees to act
ethically.
3. Managers and others must be trained to consider
the ethical implications of all business decisions.
©McGraw-Hill Education.
HOW to IMPROVE AMERICA’S
BUSINESS ETHICS 2 of 2 LO 4-4
4. An ethics office must be set up with which
employees can communicate anonymously.
Whistleblowers -- Insiders who report illegal or
unethical behavior.
5. Involve outsiders such as
suppliers, subcontractors,
distributors and
customers.
6. The ethics code must be
enforced.
Photo credit: © Gianluca Colla/Bloomberg/Getty Images
©McGraw-Hill Education.
HOW to BLOW the WHISTLE LO 4-4
1. Decide carefully and quickly.
2. Make sure you have all allegations filed with the
right agencies.
3. File your allegations with as many agencies that
are appropriate.
4. Gather your information legally.
5. Research the process.
Source: Kiplinger’s Personal Finance, June 2013.
©McGraw-Hill Education.
TEST PREP
1. What are compliance-based and integrity-based
ethics codes?
2. What are the six steps to follow in establishing an
effective ethics program in a business?
©McGraw-Hill Education.
CORPORATE SOCIAL
RESPONSIBILITY LO 4-5
Corporate Social Responsibility (CSR) -- The
concern businesses have for the welfare of society.
CSR is based on a commitment to integrity, fairness,
and respect.
CSR proponents argue that businesses owe their
existence to the societies they serve and cannot
exist in societies that fail.
©McGraw-Hill Education.
CORPORATE PHILANTHROPY
and SOCIAL INITIATIVES LO 4-5
Corporate Philanthropy --
Includes charitable donations.
Corporate Social Initiatives --
Include enhanced forms of
corporate philanthropy.
Photo credit: © Lannis Waters/Zuma Press/Newscom
©McGraw-Hill Education.
CORPORATE RESPONSIBILITY
and POLICY
LO 4-5
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.
©McGraw-Hill Education.
POSTIVE IMPACTS
of COMPANIES LO 4-5
Xerox offers a Social Service Leave program.
More and more companies are encouraging
employees to volunteer while on company time.
The majority of MBA students surveyed reported
they would take a lower salary to work for a socially
responsible company.
©McGraw-Hill Education.
HELPING HANDS
Most Generous Celebrities LO 4-5
Who? For?
George Clooney
United Way;
UN Messenger of Peace
Angelina Jolie & Brad Pitt Make it Right Foundation; UN
Ben Affleck UN
Madonna Raising Malawi
Michael J. Fox
Michael J. Fox Foundation for
Parkinson’s Research
Alicia Keys
Keep a Child Alive;
Frum Tha Ground Up
Sir Elton John Elton John AIDS Foundation
Matt Damon
GreenDimes; H2O Africa;
Running the Sahara
Oprah Winfrey Angel Network
Source: Parade Magazine.
©McGraw-Hill Education.
GENEROUS GUYS
World’s Biggest Givers in 2013 LO 4-5
Who? How Much? What For?
Bill Gates $2.5B Malaria, public health, education
Warren Buffett $2.63B Gates Foundation
Leonard Lauder $1.1B Art museums
Mark Zuckerberg $991M Education, healthcare
George Soros $734M Human rights, democracy
Michael Bloomberg $1.8B Antismoking, education
Walton Family $325M Education, conservation
Gordon & Betty Moore $321M Science education
Chuck Feeny $297M Human rights
Pierre & Pamela Omidyar $294M Education
Source: Forbes, www.forbes.com, accessed November 2014.
©McGraw-Hill Education.
PRESIDENT KENNEDY’S BASIC RIGHTS
of CONSUMERS LO 4-5
The Right to Safety
The Right to be Informed
The Right to Choose
The Right to be Heard
Photo credit: Library of Congress Prints and
Photographs Division [LC-USZ62-117124]
©McGraw-Hill Education.
HOW DO CUSTOMERS KNOW? LO 4-5
The primary use of social
media is to communicate
CSR efforts.
Social media allows
companies to reach a
broad, diverse group and
connect directly to them.
Now more than ever, it’s
important for companies to
live up to their expectations.
Photo credit: Denise McCullough
©McGraw-Hill Education.
SOCIAL CUSTOMER CONTACT
Do’s and Don’ts of Using Twitter for Business LO 4-5
DO DON’T
Engage followers in discussion
relevant to your industry.
Start political rants.
Think about your message before
tweeting. Deleted tweets can still be
found!
Tweet impulsively.
Frequently offer new content. Let your account lie dormant.
Create separate accounts for
business and personal use.
Make personal announcements via
your company’s Twitter account.
Source: Entrepreneur, www.entrepreneur.com, accessed September 2014.
©McGraw-Hill Education.
INSIDER TRADING LO 4-5
Insider Trading -- Insiders using
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.
Photo credit: © Steve Marcus/Reuters/Corbis
©McGraw-Hill Education.
RESPONSIBILITY to
EMPLOYEES LO 4-5
Create jobs and provide
a chance for upward
mobility.
Treat employees with
respect.
Offer salaries and
benefits that help
employees reach their
personal goals.
Photo credit: © Wilfredo Lee/AP Images
©McGraw-Hill Education.
AMERICA’S MOST ADMIRED COMPANIES
of 2014 LO 4-5
1. Apple
2. Amazon
3. Google
4. Berkshire Hathaway
5. Starbucks
6. Coca-Cola
7. Disney
8. FedEx
9. Southwest Airlines
10. General Electric
Source: Fortune, www.fortune.com, accessed November 2014.
Photo credit: © Chris Ryan/age fotostock
©McGraw-Hill Education.
WHEN EMPLOYEES
are UPSET… LO 4-5
Employee fraud costs U.S. businesses about 5%
of annual revenue and causes 30% of all business
failures.
Disgruntled workers relieve frustration by:
- Blaming mistakes on others.
- Manipulating budgets and expenses.
- Making commitments they intend to ignore.
- Hoarding resources.
- Doing the minimum.
©McGraw-Hill Education.
SOCIETY and
the ENVIRONMENT LO 4-5
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.
©McGraw-Hill Education.
RESPONSIBILITY to the
ENVIRONMENT LO 4-5
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.
Photo credit: © Jody Horton
©McGraw-Hill Education.
SUSTAINABILITY’S in the BAG
Rickshaw Bagworks makes sustainable accessories
built to last.
The “three Fs” are followed company-wide.
1. Form
2. Function
3. Footprint
Photo credit: Courtesy of Rickshaw Bagworks, Inc
©McGraw-Hill Education.
SOCIAL AUDITING LO 4-5
Social Audit -- A systematic evaluation of an
organization’s progress toward implementing socially
responsible and responsive programs.
Five Types of Watchdogs
1. Socially conscious investors
2. Socially conscious research
organizations
3. Environmentalists
4. Union officials
5. Customers
Photo credit: Courtesy of Rainforest Action Network
©McGraw-Hill Education.
TEST PREP
1. What is corporate social responsibility, and how
does it relate to each of a business’s major
stakeholders?
2. What is a social audit, and what kinds of activities
does it monitor?
©McGraw-Hill Education.
INTERNATIONAL ETHICS LO 4-6
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.
Partners in the Organization of American States
signed the Inter-American Convention Against
Corruption.
©McGraw-Hill Education.
GOING by a
DIFFERENT STANDARD
A telecommunications employee returns to his home
country to work and the company reimburses living
expenses so he can live in a safe area. The
employee is trying to do the honorable thing for his
family and the company is trying to keep the
employee safe.
If the employee uses the money to help his family
instead, is it right for the company to stop payment?
©McGraw-Hill Education.
TEST PREP
1. How are U.S. businesses demanding socially
responsible behavior from their international
suppliers?
2. Why is it unlikely that there will be a single set of
international rules governing multinational
companies soon?

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BA 100 Chapter 4 PowerPoint - Week 2

  • 1. ©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education. CHAPTER 4 Demanding Ethical and Socially Responsible Behavior
  • 2. ©McGraw-Hill Education. LEARNING OBJECTIVES 1 of 2 1. Explain why obeying the law is only the first step in behaving ethically. 2. Ask the three questions you need to answer when faced with a potentially unethical action. 3. Describe management’s role in setting ethical standards.
  • 3. ©McGraw-Hill Education. LEARNING OBJECTIVES 2 of 2 4. Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code. 5. Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders. 6. Analyze the role of U.S. businesses in influencing ethical behavior and social responsibility in global markets.
  • 4. ©McGraw-Hill Education. PATTY STONESIFER Martha’s Table • Held high-level positions with the Gates Foundation and the White House. • Founded Martha’s Table in 2013 with the goal of providing healthy food, affordable clothing and quality education to D.C.’s locals. Photocredit:CourtesyofBill&MelindaGatesFoundation
  • 5. ©McGraw-Hill Education. NAME that COMPANY The wage and benefit packages offered by this company are among the best in hourly retail. Even part-time workers are covered by its health plan. Increased benefits reduce employee turnover to less than a third of the industry average. Name that company!
  • 6. ©McGraw-Hill Education. LIFE AFTER SCANDAL LO 4-1 Scandals have shaken the real estate, mortgage and banking industries. How do we restore trust in the free market system? - Punish those who have broken the law. - Make accounting records more transparent. - Consider what is ethical, not just what is legal.
  • 7. ©McGraw-Hill Education. BERNIE MADOFF’S PONZI SCHEME • Bernie Madoff is serving 150 years behind bars. • His exclusive wealth management firm was a gigantic Ponzi scheme. • Though exact amounts are uncertain, it is believed he stole about $65 billion from his investors. Photo credit: © Timothy A. Clary/AFP/Getty Images
  • 8. ©McGraw-Hill Education. WHAT is a PONZI SCHEME? LO 4-1 • A fraud by paying returns to existing investors from funds contributed by new investors. • New investors are promised opportunities claimed to generate high returns with little or no risk. • Fraudsters focus on attracting new money to make promised payments. Source: Securities and Exchange Commission, www.sec.gov, accessed November 2014.
  • 9. ©McGraw-Hill Education. WHAT are ETHICS? LO 4-1 Ethics -- The standards of moral behavior. Behaviors that are accepted by society as right versus wrong. Photo credit: © Image Source, all rights reserved.
  • 10. ©McGraw-Hill Education. BASIC MORAL VALUES LO 4-1 Right: • Integrity • Respect for human life • Self-control • Honesty • Courage • Self-sacrifice Wrong: • Cheating • Cowardice • Cruelty Photo credit: © UpperCut Images/Alamy Stock Photo
  • 11. ©McGraw-Hill Education. ETHICS and YOU LO 4-2 • Plagiarizing from online materials is the most common form of cheating in schools today. • Studies found a strong relationship between academic dishonesty and dishonesty at work. Cartoon credit: © Marty Bucella, www.cartoonstock.com
  • 12. ©McGraw-Hill Education. FACING ETHICAL DILEMMAS LO 4-2 Ask yourself these questions: 1. Is it legal? 2. Is it balanced? 3. How will it make me feel about myself? Photo credit: © UpperCut Images/Alamy Stock Photo
  • 13. ©McGraw-Hill Education. BRIBERY BAD BOYS Five FCPA Investigations LO 4-2 Company Case Smith and Wesson Improper payments to foreign officials. Stryker Corporation Bribing doctors and government officials in five countries. Hewlett-Packard Improper payments for contracts. Bio-Rad Laboratories Subsidiaries made improper payments to officials in Russia, Vietnam, and Thailand. Diebold Bribed officials at government-owned banks. Source: SEC, www.sec.gov, accessed November 2014.
  • 14. ©McGraw-Hill Education. TURNING EX-CONS into ENTREPRENEURS • Life after prison can be very difficult for those with criminal records. • Catherine Rohr started Defy Ventures to help ex-cons launch their own businesses. • Defy and Rohr’s other organizations have helped create 60 startups and many ex-cons find employment. Photo credit: © Ann Hermes/ The Christian Science Monitor/Getty Images
  • 15. ©McGraw-Hill Education. TEST PREP 1. What are ethics? 2. How do ethics differ from legality? 3. When faced with ethical dilemmas, what questions can you ask yourself that might help you make ethical decisions?
  • 16. ©McGraw-Hill Education. ETHICS START at the TOP LO 4-3 Organizational ethics begin at the top. Managers can help instill corporate values in employees. Trust between workers and managers must be based on fairness, honesty, openness and moral integrity. Photo credit: ©Jose Luis Pelaez Inc/Blend Images LLC
  • 17. ©McGraw-Hill Education. FACTORS INFLUENCING MANAGERIAL ETHICS LO 4-3 Individual Organizational Environmental • Values • Work Background • Family Status • Personality • Top Level Management Philosophy • Firm’s Reward System • Job Dimensions • Competition • Economic Conditions • Social/Cultural Institutions
  • 18. ©McGraw-Hill Education. ETHICS CODES LO 4-4 An increasing number of companies have adopted written codes of ethics. Compliance-Based Ethics Code -- Emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers. Integrity-Based Ethics Code -- Define the organization’s guiding values, create an environment that supports ethically sound behavior and stress a shared accountability.
  • 19. ©McGraw-Hill Education. HOW to IMPROVE AMERICA’S BUSINESS ETHICS 1 of 2 LO 4-4 1. Top management must adopt and unconditionally support an explicit corporate code of conduct. 2. Employees must understand that senior management expects all employees to act ethically. 3. Managers and others must be trained to consider the ethical implications of all business decisions.
  • 20. ©McGraw-Hill Education. HOW to IMPROVE AMERICA’S BUSINESS ETHICS 2 of 2 LO 4-4 4. An ethics office must be set up with which employees can communicate anonymously. Whistleblowers -- Insiders who report illegal or unethical behavior. 5. Involve outsiders such as suppliers, subcontractors, distributors and customers. 6. The ethics code must be enforced. Photo credit: © Gianluca Colla/Bloomberg/Getty Images
  • 21. ©McGraw-Hill Education. HOW to BLOW the WHISTLE LO 4-4 1. Decide carefully and quickly. 2. Make sure you have all allegations filed with the right agencies. 3. File your allegations with as many agencies that are appropriate. 4. Gather your information legally. 5. Research the process. Source: Kiplinger’s Personal Finance, June 2013.
  • 22. ©McGraw-Hill Education. TEST PREP 1. What are compliance-based and integrity-based ethics codes? 2. What are the six steps to follow in establishing an effective ethics program in a business?
  • 23. ©McGraw-Hill Education. CORPORATE SOCIAL RESPONSIBILITY LO 4-5 Corporate Social Responsibility (CSR) -- The concern businesses have for the welfare of society. CSR is based on a commitment to integrity, fairness, and respect. CSR proponents argue that businesses owe their existence to the societies they serve and cannot exist in societies that fail.
  • 24. ©McGraw-Hill Education. CORPORATE PHILANTHROPY and SOCIAL INITIATIVES LO 4-5 Corporate Philanthropy -- Includes charitable donations. Corporate Social Initiatives -- Include enhanced forms of corporate philanthropy. Photo credit: © Lannis Waters/Zuma Press/Newscom
  • 25. ©McGraw-Hill Education. CORPORATE RESPONSIBILITY and POLICY LO 4-5 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.
  • 26. ©McGraw-Hill Education. POSTIVE IMPACTS of COMPANIES LO 4-5 Xerox offers a Social Service Leave program. More and more companies are encouraging employees to volunteer while on company time. The majority of MBA students surveyed reported they would take a lower salary to work for a socially responsible company.
  • 27. ©McGraw-Hill Education. HELPING HANDS Most Generous Celebrities LO 4-5 Who? For? George Clooney United Way; UN Messenger of Peace Angelina Jolie & Brad Pitt Make it Right Foundation; UN Ben Affleck UN Madonna Raising Malawi Michael J. Fox Michael J. Fox Foundation for Parkinson’s Research Alicia Keys Keep a Child Alive; Frum Tha Ground Up Sir Elton John Elton John AIDS Foundation Matt Damon GreenDimes; H2O Africa; Running the Sahara Oprah Winfrey Angel Network Source: Parade Magazine.
  • 28. ©McGraw-Hill Education. GENEROUS GUYS World’s Biggest Givers in 2013 LO 4-5 Who? How Much? What For? Bill Gates $2.5B Malaria, public health, education Warren Buffett $2.63B Gates Foundation Leonard Lauder $1.1B Art museums Mark Zuckerberg $991M Education, healthcare George Soros $734M Human rights, democracy Michael Bloomberg $1.8B Antismoking, education Walton Family $325M Education, conservation Gordon & Betty Moore $321M Science education Chuck Feeny $297M Human rights Pierre & Pamela Omidyar $294M Education Source: Forbes, www.forbes.com, accessed November 2014.
  • 29. ©McGraw-Hill Education. PRESIDENT KENNEDY’S BASIC RIGHTS of CONSUMERS LO 4-5 The Right to Safety The Right to be Informed The Right to Choose The Right to be Heard Photo credit: Library of Congress Prints and Photographs Division [LC-USZ62-117124]
  • 30. ©McGraw-Hill Education. HOW DO CUSTOMERS KNOW? LO 4-5 The primary use of social media is to communicate CSR efforts. Social media allows companies to reach a broad, diverse group and connect directly to them. Now more than ever, it’s important for companies to live up to their expectations. Photo credit: Denise McCullough
  • 31. ©McGraw-Hill Education. SOCIAL CUSTOMER CONTACT Do’s and Don’ts of Using Twitter for Business LO 4-5 DO DON’T Engage followers in discussion relevant to your industry. Start political rants. Think about your message before tweeting. Deleted tweets can still be found! Tweet impulsively. Frequently offer new content. Let your account lie dormant. Create separate accounts for business and personal use. Make personal announcements via your company’s Twitter account. Source: Entrepreneur, www.entrepreneur.com, accessed September 2014.
  • 32. ©McGraw-Hill Education. INSIDER TRADING LO 4-5 Insider Trading -- Insiders using 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. Photo credit: © Steve Marcus/Reuters/Corbis
  • 33. ©McGraw-Hill Education. RESPONSIBILITY to EMPLOYEES LO 4-5 Create jobs and provide a chance for upward mobility. Treat employees with respect. Offer salaries and benefits that help employees reach their personal goals. Photo credit: © Wilfredo Lee/AP Images
  • 34. ©McGraw-Hill Education. AMERICA’S MOST ADMIRED COMPANIES of 2014 LO 4-5 1. Apple 2. Amazon 3. Google 4. Berkshire Hathaway 5. Starbucks 6. Coca-Cola 7. Disney 8. FedEx 9. Southwest Airlines 10. General Electric Source: Fortune, www.fortune.com, accessed November 2014. Photo credit: © Chris Ryan/age fotostock
  • 35. ©McGraw-Hill Education. WHEN EMPLOYEES are UPSET… LO 4-5 Employee fraud costs U.S. businesses about 5% of annual revenue and causes 30% of all business failures. Disgruntled workers relieve frustration by: - Blaming mistakes on others. - Manipulating budgets and expenses. - Making commitments they intend to ignore. - Hoarding resources. - Doing the minimum.
  • 36. ©McGraw-Hill Education. SOCIETY and the ENVIRONMENT LO 4-5 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.
  • 37. ©McGraw-Hill Education. RESPONSIBILITY to the ENVIRONMENT LO 4-5 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. Photo credit: © Jody Horton
  • 38. ©McGraw-Hill Education. SUSTAINABILITY’S in the BAG Rickshaw Bagworks makes sustainable accessories built to last. The “three Fs” are followed company-wide. 1. Form 2. Function 3. Footprint Photo credit: Courtesy of Rickshaw Bagworks, Inc
  • 39. ©McGraw-Hill Education. SOCIAL AUDITING LO 4-5 Social Audit -- A systematic evaluation of an organization’s progress toward implementing socially responsible and responsive programs. Five Types of Watchdogs 1. Socially conscious investors 2. Socially conscious research organizations 3. Environmentalists 4. Union officials 5. Customers Photo credit: Courtesy of Rainforest Action Network
  • 40. ©McGraw-Hill Education. TEST PREP 1. What is corporate social responsibility, and how does it relate to each of a business’s major stakeholders? 2. What is a social audit, and what kinds of activities does it monitor?
  • 41. ©McGraw-Hill Education. INTERNATIONAL ETHICS LO 4-6 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. Partners in the Organization of American States signed the Inter-American Convention Against Corruption.
  • 42. ©McGraw-Hill Education. GOING by a DIFFERENT STANDARD A telecommunications employee returns to his home country to work and the company reimburses living expenses so he can live in a safe area. The employee is trying to do the honorable thing for his family and the company is trying to keep the employee safe. If the employee uses the money to help his family instead, is it right for the company to stop payment?
  • 43. ©McGraw-Hill Education. TEST PREP 1. How are U.S. businesses demanding socially responsible behavior from their international suppliers? 2. Why is it unlikely that there will be a single set of international rules governing multinational companies soon?

Hinweis der Redaktion

  1. Company: Costco
  2. See Learning Objective 1: Explain why obeying the law is only the first step in behaving ethically.
  3. See Learning Objective 1: Explain why obeying the law is only the first step in behaving ethically.
  4. See Learning Objective 1: Explain why obeying the law is only the first step in behaving ethically.
  5. See Learning Objective 1: Explain why obeying the law is only the first step in behaving ethically. The reputations of American businesses have been under assault due to numerous scandals over the past twenty years. Following the law is only the first step in being ethical. Ethics are standards of moral behavior and are accepted by society as right versus wrong.
  6. See Learning Objective 1: Explain why obeying the law is only the first step in behaving ethically.
  7. See Learning Objective 1: Explain why obeying the law is only the first step in behaving ethically.
  8. See Learning Objective 2: Ask the three questions to answer when faced with a potentially unethical action. When facing an ethical dilemma it is important that you ask these three basic questions: Is it legal? Is it balanced? How will it make me feel about myself? Asking and answering these three questions will prevent many people from making unethical decisions.
  9. See Learning Objective 2: Ask the three questions to answer when faced with a potentially unethical action. The Justice Department has over 104 open Foreign Corrupt Practices Act (FCPA) cases. This slide highlights five of the cases. To promote discussion, you can discuss how these companies are first extorted by the officials in foreign nations and then punished for their actions back at home. It is illegal for U.S. companies to participate in bribery, yet it is common practice in some countries. How are Americans supposed to deal with these issues? What is the ethical dilemma here?
  10. 1) Ethics are society’s accepted standards of behavior, in other words behaviors accepted by society as right rather than wrong. 2) Ethics reflect people’s proper relationships with one another. Legality is narrower in that it refers to laws we have written to protect ourselves from fraud, theft, and violence. 3) It helps to ask the following questions when faced with an ethical dilemma: Is the proposed action legal? Is it balanced? Would I want to be treated this way? How will it make me feel about myself?
  11. See Learning Objective 3: Describe management’s role in setting ethical standards. Leadership helps to instill corporate values in employees. So, like many aspects of business, ethical behavior practiced and modeled by managers and executives will often trickle down to the employees at large.
  12. See Learning Objective 3: Describe management’s role in setting ethical standards. Factors Influencing Managerial Ethics Before you put this slide up, you may want to ask the students: What factors influence managerial ethics? Ethics begins with the individual, but are influenced by the organization and the environment in which the business operates. To bring the discussion to the present, you may ask: How can the firm’s reward system impact ethical behavior? How did these reward systems at large banks and other financial institutions exacerbate the financial crisis in this country? (Students should be able to discuss this point. Excessive risk taking imperiled all of the stakeholders of various financial institutions as well as the world economy.)
  13. See Learning Objective 4: Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.
  14. See Learning Objective 4: Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.
  15. See Learning Objective 4: Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.
  16. See Learning Objective 4: Distinguish between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.
  17. 1) Compliance-based ethics codes emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers. Integrity-based ethics codes define the organization’s guiding values, create an environment that supports ethically sound behavior, and stress shared accountability. 2) The six steps many believe will improve U.S. business ethics are: (1) Top management must adopt and unconditionally support an explicit corporate code of conduct; (2) Employees must understand that expectations for ethical behavior begin at the top and that senior management expects all employees to act accordingly; (3) Managers and others must be trained to consider the ethical implications of all business decisions; (4) An ethics office must be set up with which employees can communicate anonymously; (5) Outsiders such as suppliers, subcontractors, distributors, and customers must be told about the ethics program; (6) The ethics code must be enforced with timely action if any rules are broken.
  18. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders. CSR is based on a commitment to such basic principles as integrity, fairness and respect. Many for-profit companies have philanthropic endeavors as a part of their mission. Communities often depend on companies to help with social programs that make the lives of people in the community better. It stands to reason that businesses that strengthen their communities, as proponents of CSR argue, will grow stronger as their communities improve.
  19. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  20. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  21. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders. An ultimate example of a company helping the community is Xerox’s program, Social Service Leave, which allows employees to leave for up to a year and work for a nonprofit while still earning full salary, including benefits and job security.
  22. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders. Students will find it interesting to see what some of their favorite celebrities have donated. Oprah Winfrey earns well over $200 million per year and donates nearly $50 million. The talk-show host and entertainment mogul is the founder of the Angel Network, a charity that raises money for poverty-stricken children and she has raised money to open schools for girls in South Africa.
  23. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders. Students may be surprised how much billionaires donate and the causes they support. You could prompt discussion by asking students why they believe billionaires give so much to education while celebrities choose more social causes.
  24. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  25. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  26. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  27. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  28. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  29. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders. 1. Before you put this slide up, you may want to ask the students: Are the ideals of maximization of profit and social responsibility in conflict? Corporate social responsibility is the concern businesses have for the welfare of society, not just for their owners. 3. The vast majority of the companies listed in this slide are not only admired, but also financially successful.
  30. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  31. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  32. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  33. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  34. See Learning Objective 5: Define corporate social responsibility and compare corporations’ responsibilities to various stakeholders.
  35. 1) Corporate social responsibility (CSR) is the concern businesses have for the welfare of society, not just for their owners. CSR defenders believe that businesses owe their existence to the societies they serve and cannot succeed in societies that fail. CSR must be responsible to all stakeholders, not just investors in the company. 2) A social audit is a systematic evaluation of an organization’s progress toward implementing socially responsible and responsive programs. Many feel a social audit should measure workplace issues, the environment, product safety, community relations, military weapons contracting, international operations and human rights, and respect for the rights of local people.
  36. See Learning Objective 6: Analyze the role of U.S. businesses in influencing ethical behavior and social responsibility in global markets.
  37. See Learning Objective 6: Analyze the role of U.S. businesses in influencing ethical behavior and social responsibility in global markets.
  38. 1) Many U.S. businesses now demand that international suppliers do not violate U.S. human rights and environmental standards. 2) It’s unlikely there will be a single set of international rules governing multinational companies because of the widespread disparity among global nations as to what constitutes ethical behavior. For example, a gift in one culture can be a bribe in another. In some nations child labor is expected and an important part of a family’s standard of living. The fairness of adhering to U.S. standards of ethical behavior is not as easy as you may think.