essay questions Flashcards
what are the CSR concepts
- corporate social responsibility
- corporate social responsiveness
- corporate social performance
what does CSR emphasize
obligation and accountability to society
what does corporate social responsiveness emphasize
action
what does corporate social performance emphasize
outcome and results
what are the phases of CSR
- corporate social stewardship
- corporate social responsiveness
- corporate/business ethics
- corporate/ global citizenship
drivers of corporate social stewardship
- executive conscience
- company image and reputation
policy instruments of corporate social stewardship
- philanthropic funding
- public relations
what did corporate social stewardship involve
- acts of charity
- seeing managers as trustees
drivers of corporate social responsiveness
- social protest
- stakeholder pressure
- repeated corporate misbehaviour
policy instruments of corporate social responsiveness
- stakeholder strategy
- regulatory compliance
what did corporate social responsiveness involve
- social impact analysis
- strategic priority for social response
- stakeholder mapping and implementation
drivers of corporate business ethics
- code of ethics
- human rights pressure
- religious and ethnic beliefs
- technology-driven value changes
policy instruments of corporate business ethics
- mission/vision/value statements
- CEO leadership ethics
what did corporate business ethics involve
- ethical organizational climate
- ethical corporate culture
- recognizing common ethical principles
drivers of corporate global citizenship
- global economic trade
- high tech communication networks
policy instruments of corporate global citizenship
- sustainability reports
- NGO dialogue
3.
arguments for CSR
- balance corporate power with responsibility
- promote long-term profit for business
- improve stakeholder relationships
- enhanced business reputation
arguments against CSR
- requires skills businesses may lack
- impose hidden costs on stakeholders
- impose unequal costs among competitors
- lowers economic efficiency and profit
how does CSR promote long-term profit
it improves the reputation of the company, can increase customer loyalty and helps them retain and attract skilled employees, leading to higher sales
how can CSR result in unequal costs among competitors
companies that prioritize social and environmental responsibility may have higher expenses than those who prioritize profit maximization
how does CSR require skills businesses may not have
business people have marketing, accounting, and finance skills. however they may not have the capability to address social issues
define CSR
the promise that a business makes to society, while making money. business should care about helping the society and the environment rather than just making profit
define business social responsibility
obligation that every business must respect the interest of all it’s stakeholders
define business ethics
moral rules that should guide working in businesses. it helps businesses decide whether a decision is right or wrong regardless of profit
define corporate power
the capability of corporations to influence government, society, and the economy
define iron law of responsibility
in the long run those who do not use power in a way society sees responsible will lose it
social audit
a systematic evaluation of an organization’s social, ethical, and environmental performance
why should a business be ethical to meet the demands of business stakeholders
stakeholders expect companies to show a high level of ethical performance and social responsibility, for example, if an employee views their company as ethical they will recommend it to others as a good place to work
why should a business be ethical to promote personal morality
most people want to act in ways that are consistent with their sense of right and wrong
why is personal gain and selfish interest an ethical problem
sometimes businesses hire people who would put their gain ahead regardless of the harm it may do to other employees, society, or the company
why is competitive pressure on profit an ethical problem
when companies have tough competition they engage in unethical activities to increase profit
why ethical problems occur in business
- personal gain and selfish interest
- competitive pressure
- conflict of interest
when does conflict of interest occur
when an individual’s self-interest conflicts with acting in the best interest of others
types of regulations
- economic regulation
- social regulation
what is economic regulation
government intervention to ensure fair competition, protect consumers, and promote social and economic objectives
what does economic regulation involve
- price control
- quality standards
- licensing requirements
advantages of economic regulation
- safeguards consumers
- market efficiency
disadvantages of economic regulation
potential stifling of innovation
what is social regulation
to protect consumers and the environment and provide workers with safe and healthy conditions
what does social regulation involve
- equal employment opportunity
- health care
purpose of deregulation
increase competition with the expected benefits of greater efficiency, lower prices, and enhanced innovation
dilemma of deregulation
must improve competition without sacrificing social regulations
what is environmental ethics
seeks to explore what responsibility humans have towards the world they live in
environmental issues
- climate change
- pollution
- genetic engineering
- conservation
environmental issues facing businesses
- ozone depletion
- climate change
- air pollution
- water pollution
environmental audits
an independent study of the impact of business on the environment, it focuses on what is produced, how it’s produced, and how it’s marketed. the goods should be easy to use and recyclable
a real-life example of environmentalism
Hertz
define health as a business and medical ethics
refers to moral principles, values, and guidelines that govern the behavior of healthcare professionals in their practices. it involves consideration of what is morally right and wrong in the context of patient care research
why are medical ethics needed
- the practice of medicine and the practice of ethics are inseparable
- every clinical decision involved an ethical decision as well
pillars of medical ethics
- non-maleficence
- beneficence
- autonomy
- distributive justice
what is non-maleficence
it means do no harm, avoid casuing harm to patients wether intentionally, or unintentionally, while providing medical care
what does non-maleficence require
healthcare professionals carefully weigh the potential risks and benefits of any medical procedure
what is beneficence
an action done to benfit others
beneficence vs non-maleficence
beneficence is a positive requirement for action, while nonmaleficence is a negative prohibition against action
what is autonomy
based on respect for the individual and the value of a person
what is autonomy influenced by
humility, it’s impossible to know what is best for someone else
what is distributive justice
addresses the fair allocation of resources, including access to medical care, treatment and health services
what does distributive justice emphasize
the ethical distribution of resources, regardless of factors such as socioeconomic status, ethnicity, or geographical location
