Managing social responsibility and Ethics

Question 1

Ethics Approaches

Answer 1

1. Utilitarism - what is good for the greatest number of people
2. Individualism - individual self-interest as long as it doesn’t harm others
3. rights approach - fundamental human rights need to be protected
4. Justice approach - treating all people fairly and consistently

Question 2

Ethical issues

Answer 2

1. Employee-Employer (employee behaves wrong in front of employer)
2. Employer-employee (unfair behaviour of employer in front of employee
3. company-customer (holding back information from customer or aggressive sales)
4. Company-local and global communities (harm environment and community)

Question 3

Benefits of social responsibility

Answer 3

• good corporate citizen
• enhances image
• fewer conflicts
• loyal customers
• higher financial performance

Question 4

strategies to manage stakeholders

Answer 4

• confrontation - courts, lobbying
• damage control - admitting mistakes, improve image
• accommodation - make changes for social responsibility
• proactive strategie - partnership with stakeholders