OBLIGATION, RESPONSIVENESS, RESPONSIBILITY
Social Obligation: Business engaging in social actions only due to the obligation of meeting its economic and legal responsibilities.
Social Responsiveness: Business engaging in social actions in response to some popular social need.
Social Responsibility: Business intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society.
1. Discouragement of further governmental regulation: By becoming socially responsible, businesses can expect less government regulation.
2. Balance of responsibility and power: Businesses have a lot of power and an equally large amount of responsibility is needed to balance against that power.
3. Stockholder interests: Social responsibility will improve a business´s stock price in the long run.
4. Possesion of resources:Businesses have the resources to support public and charitable projects that need assistance.
5. Superiority of prevention over cures: Businesses should adress social problems before they become serious and costly to correct.
GREEN MANAGEMENT: When managers consider the impact of their organization on the natural environment.
1. Legal Approach: Firms simply do what is legally required by obeying laws, rules, and regulations willingly and without legal challenge.
2. Market Approach: Firms respond to the preferences of their customers for environmentally friendly products.
3. Stakeholder Approach: Firms work to meet the environmental demands of multiple stakeholders-employees, suppliers, and the community.
4. Activist Approach: Firms look for ways to respect and preserve the environment and be actively socially responsible.
MGT ETHICS: Principles, values, and beliefs that define right and wrong behavior.
1. Principle: A standard or rule of personal conduct.
2. Values: The moral principles and beliefs or accepted standards of a person or social group.
3. Belief: A principle, proposition, idea...
FACTORS: Ethical dilema, stage of moral development, individual characteristics, organizational culture, structural variables, issue intensity, moderators, ethical /unethical behavior.