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Unit - 3 Business Ethics & Social Responsibility

business

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9 views5 pages

Unit - 3 Business Ethics & Social Responsibility

business

Uploaded by

rawgamer80
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Unit – 3

Business Ethics and Social Responsibility


Concept of Business Ethics
Business ethics are the acceptable standards of behavior that guide individual
managers in the workplace.

Significance of Business Ethics


1. Standards of Behavior
2. Decision Making and Conflict Resolution
3. Motivation
4. Promotion of Social Responsibility
5. Positive Image
6. Ethics and Profits
Ethical Issues in Management

1. Self-dealing
2. Information Manipulation
3. Anticompetitive Behavior
4. Opportunistic Exploitation of Suppliers and Distributors
5. Substandard Working Conditions
6. Environmental Degradation
7. Corruption
The Roots of Unethical Behavior

1. Personal Ethics
2. Perception
3. Organizational Culture
4. Pressure from Top Management
5. Unethical Leadership
6. Lack of Standards of Conduct
7. Different Cultural Values and Norms
8. Rule-based or Relationship Governance Systems
9. Different Values between Business People and Stakeholders
Philosophical Approaches to Ethics

1. Utilitarian Approach
2. Rights Approach
3. Justice Approach
Social Responsibility of Business
A business has a particular obligation towards society which is known as the
social responsibility of business.

Strategies of Social Responsibility


1. Social Obstruction Strategy
2. Social Obligation Strategy
3. Social Response Strategy
4. Social Contribution Strategy

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