Ethics Endterm Flashcards
is a continuing
commitment by business to behave ethically and
contribute to economic development while improving
the quality of life of the workforce and their families, the
local community, and society at large.
World Business Council for
sustainable Development (WBCSD)
four (4) levels of
corporate responsibility
- Earning a profit
- Legal responsibility
- Ethical responsibility
- Discretionary responsibility
means extending personal
services without either compulsion of monetary
compensation
Volunteerism
noted a perpetual challeng in promoting
volunteerism in companies in the absence of a policy
regarding volunteerism, itself due to the pervading
assumption that volunteerism comes for free.
Philippine Business for Social
Progress (PBSP)
a cost-free commitment to a cause
Volunteerism
which are socioeconomic initiatives that belong to neither the traditional
private-for-profit sector nor to the public sector.
Third sector organization (TSO)
which is growing and gathering supporters across the
globe as an innovative approach to business activity
offering disadvantaged populations a path to human
development and economic prosperity
Social enterprise movement
organization that applies commercial strategies to
maximize improvements in human and environmental
well-being—this may include maximizing social impact
alongside profits for external shareholders.
Social enterprise
critical
importance, as it significantly influences the sort of lives
we will lead in the future
Corporate Social Responsibility (CSR
any party that has a stake or interest in the
business organization
Stakeholder
be viewed as a response to the existence
of entities that are legitimately interested in the behavior
of a company.
Stakeholder perspective
fundamentally a theory about
how business works at its best, and how it could work: it
is about value creation and trade and how to manage a
business effectively.
Stakeholder theory
indicates that a business is not only responsible to its owners but also has
obligations to various stakeholders, such as employees, customers, business partners, government
and non-governmental organizations
Stakeholder approach
was mentioned that the modern corporation
is characterized by various interests: on one hand, those
of the owners or shareholders (called
Principals
and,
on the other hand, those of the managers
The Agents
the interests
and aims of the agents and principals might clash (this is
called
principal-agent problem
wants
human dignity to be defended in the face of its
vulnerability
humanistic paradigm
advocates uphold humanity as the
ultimate end and princ
Humanistic management
used to refer either to an
activity carried out or to organizations and institutions.
Social enterprise
thought to be something new and
something distinct from classical business and traditional
non-profit activity, combining at different extents
elements of the social purpose, the market orientation,
and financial-performance standards of business
Social enterprise
are organizations whose mission is to
bridge social opportunity into sustainable reality
innovatively, effectively, and efficiently.
Social enterprise
fundamentally a theory about how business works at its
best, and how it could work
Stakeholder theory
is about value creation and trade and how to manage a
business effectively.
Stakeholder theory
He is the economist who
argues that in a “free
enterprise,
private-property system
Milton Friedman
A part of corporate
responsibility that refers
to gaining money when
the revenue received.
Earning profit
part of corporate responsibility
that involves maintaining or
improving financial performance
while also making a positive
impact on society
Ethical responsibility
He is the economist who
mentioned that a manager has
no right to give
company money to social
causes when doing so will
reduce shareholder’s profits
Milton Friedman
A focus on integral human development
is part of what type of approach?
Humanistic approach to
management
those who are driven by a sense of
purpose and who align their personal and organizational goals with
a higher purpose.
Purpose driven leader
Albanian-Indian Catholic nun and
the founder of the Missionaries of
Charity.
Mother teresa
great soul, Gandhi was an Indian
lawyer who led his country to freedom
from British colonial rule in 1947.
Mahatma gandhi
another example of a leader
who embraced the principles of
servant leadership.
Mother teresa
most famous for his
philosophy of nonviolence that has
inspired civil rights leaders around the
world.
Mahatma gandhi
for over 45 years, she ministered
to the poor, sick, orphaned and
dying
Mother teresa
a microeconomic concept that states that a firm exists to
maximize profits by creating a gap between revenue and
costs.
The Neoclassical Theory of the Firm
It influences decision-making in areas such as resource
allocation, production techniques, pricing adjustments, and
the volume of production.
The Neoclassical Theory of the Firm
firm sets price and quantity to maximize
profit
The Neoclassical Theory of the Firm
• It aims to raise the profile of sustainability in business and
management education through Seven Principles focused on
serving society and safeguarding our planet.
Principle for Responsible management education
engages business and management schools to equip
future leaders with the skills needed to balance economic,
environmental, and social goals.
Prme
aims to develop future leaders who can balance
economic and sustainability goals.
Prme
