Principles of Management MGMT-142 PDF

Principles of Management MGMT-142 Mujeeb Rashid How Ethical Perspectives guide Decision making What is Morality and Ethics? The system of rules that governs the ordering of values Ethics become complicated when situation dictates that one value over rules the other, e.g., (Profit...

Principles of Management MGMT-142 Mujeeb Rashid How Ethical Perspectives guide Decision making What is Morality and Ethics? The system of rules that governs the ordering of values Ethics become complicated when situation dictates that one value over rules the other, e.g., (Profit or CSR) Compliance Based Ethics Mechanisms typically designed by Corporate Counsel to prevent, detect and punish legal violations Integrity Based Ethics Mechanisms designed to instill in people a personal responsibility for ethical behaviour.  How Companies Influence their Ethics Environment Ethics Codes are sometimes helpful. They address employees conduct, community and environment, shareholders, customers, suppliers & contractors What is Ethical Climate? The process by which decisions are evaluated on the basis of right or wrong A Process for making Ethical decisions Ethical Decisions in the International Context  What is Corporate Social Responsibility? CSR is the extension of the Corporate role beyond economic pursuits. Should business be responsible for social concerns beyond its own wellbeing? Waste Paper collection by Paper mills in Pakistan. Is child labor justified to support the needs poverty? How can CSR activities promote the wellbeing of the company? Can you give an example? Pyramid of Global CSR Performance Reasons for Businesses growing interest in the Natural Environment For Compliance to Laws and Regulations e.g., EPA Reducing pollution also reduces waste of materials and costs Goodwill earned among increasingly aware Consumers and the Public can become a source of Competitive Advantage The process undertaken to protect the natural environment also results in uplifting of the performance standards within the Company Current Ethical Issues in Business What is your Opionion about the following CEO pay Globalization Health care Obesity Online Privacy Politics Social Media Telework Wages  Actions managers can take for the Future of Environment Sustainable Growth Is the economic growth and development that meet the organization’s present needs without harming the future generations to meet their needs. Example New Afforestation by large Paper mills Life Cycle Analysis of materials in products Recyclability of materials to make products Reducing the Carbon footprint in the use of materials and Energy Example: DuPont's Corn based fabrics and biodegradable materials for packaging industry