Ethicists

Question 1

Michael Sandel

Answer 1

Says a society that sells nearly everything to the highest bidder is a society that fosters inequality and corruption. And he says we arrived at this point almost by accident — without consensus and without a much-needed debate about whether this is where we want to be.

Question 2

Michael Porter

Answer 2

Creating Shared Value
Social needs define markets
Social harms or weaknesses create
 internal costs for firms
Can improve company productivity AND address locals gaps and failures

Question 3

Edward Freeman

Answer 3

Freeman says that we should 
create value for all stakeholders
Narrow view would be the shareholders specifically
Broad view - anyone who can affect the business

Question 4

Milton Friedman

Answer 4

one social responsibility of business- to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game
Managerial Capitalism

Question 5

Managerial Capitalism

Answer 5

Social responsibility is the job of government
Businesses have no responsibilities
CEO: an employee has a Fiduciary Duty; agent of stockholders

Question 6

Robert Reich

Answer 6

Reich is focused on CSR not actions that add value for the company
Warns that real CSR is outside the democratic process

Question 7

Why is CSR dangerous?

Answer 7

Large corporations lobby to prevent legislation in areas such as environmental protection and tobacco
Undermines Government Accountability
Outside the democratic process and evidences decreased confidence in democracy

Question 8

What is CSR?

Answer 8

actions or programs that go beyond what the law requires and beyond the interests of the firm to encourage positive impact on a variety of fronts: the environment, employment conditions, human rights, health