Chapter 4 - Doing What's Right Rutgers Business School PDF

Introduction to Management 33:620:301 Chapter 4 Doing What’s “Right” Professor Hamilton  Summary y Part V...

Introduction to Management 33:620:301 Chapter 4 Doing What’s “Right” Professor Hamilton  Summary y Part V ar 12 m m Su er ad Le as t Manager er Part IV en Leader ag 11 an em As M ag an M ce an t rm en rfo m 10 Pe ge en t ga En em e ag ye an plo sM “Done Well” 9 Em ce Part III ur Where are We Now? so Re an n m sig 8 Hu De n tio za es s ni hip ga sin rs 7 Or Bu eu al en ob pr Gl tre a En ing nd ag ,a an ion 6 M nn ov at “The Right Work” ,I ” th ht ow ig 5 Gr “R Part II t’s k” ha or W tW i ng ig h 4 Do “R e th ing tify en t ” en 3 Id e m e ll ag e W an on M of kD n or u tio tW ol igh 2 Ev “R Part I “Intro” t: en em ag an 1 M Chapter 4 – Learning Goals LG 4-1 Identify the four key elements of “Doing What’s Right” LG 4-2 Identify and describe 4 major areas of legal regulations that govern the activities of businesses LG 4-3 Identify and describe why unethical behavior occurs in business and what businesses should do when faced with an ethical decision LG 4-4 Define “Core Values” and why they are an important element for enabling businesses to do “What’s Right” LG 4-5 Define Corporate Social Responsibility (CSR) and describe the approach for successfully implementing CSR in an organization Four Elements for Doing What’s “Right” LG 4-1 1. Business Law 2. Ethical Decision Making 3. Core Values 4. Corporate Social Responsibility Four Elements for Doing What’s “Right” LG 4-2 Labor Laws 1. Business Law Uniform Commercial Code 2. Ethical Decision Making Environmental Protection Industry Specific Regulations 3. Core Values 4. Corporate Social Responsibility Four Elements for Doing What’s “Right” LG 4-3 Many examples of unethical behavior by businesses! Why? 1. Business Law “What does happen” “What should happen” What Does Happen: 2. Ethical Decision Making Internal Factors External Factors What Should Happen: 3. Core Values Moral Awareness Moral Judgment Moral Intention 4. Corporate Social Responsibility Action/Implementation Ethical Standards: Utilitarian Individualism Moral Rights Justice Impartial Opinion Full Disclosure Four Elements for Doing What’s “Right” LG 4-4 1. Business Law Underlying norms of behavior and actions expected of al employees 2. Ethical Decision Making Must go beyond articulation Reinforced by example 3. Core Values Reinforced by action 4. Corporate Social Responsibility Johnson & Johnson Credo Four Elements for Doing What’s “Right” LG 4-5 The actions of an organization to recognize and proactively respond 1. Business Law to the needs and expectations of all of its stakeholders 2. Ethical Decision Making Stakeholders include customers, suppliers, distributors, employees, communities, etc. 3. Core Values Not just the “Right” thing to do but also the “Smart” thing to do 4. Corporate Social Responsibility Three things proactive leaders do: Act as a role model (words and action), Use empathy, Create a broader vision  Alex Gorsky on Ethics and Corporate Social Responsibility Chapter 4 – Learning Goals LG 4-1 Identify the four key elements of “Doing What’s Right” LG 4-2 Identify and describe 4 major areas of legal regulations that govern the activities of businesses LG 4-3 Identify and describe why unethical behavior occurs in business and what businesses should do when faced with an ethical decision LG 4-4 Define “Core Values” and why they are an important element for enabling businesses to do “What’s Right” LG 4-5 Define Corporate Social Responsibility (CSR) and describe the approach for successfully implementing CSR in an organization Introduction to Management 33:620:301 Chapter 4 Doing What’s “Right” Professor Hamilton