LectureTopicPart.pptVIP

9-* McGraw-Hill/Irwin Copyright ? 2011 The McGraw-Hill Companies, All Rights Reserved. Topics 6 7(Chapter 9 in text book + Study Guide and Readings)Part 1 Strategy, Ethics, Decision Making, Liability, Corporate Social Responsibility Ethics and Corporate Social Responsibility Topics 6 7 deal with three separate, but related, matters: 1. Ethics – focus on (a) individual behaviour and (b) group behaviour; 2. CSR – focus on corporate strategy and individual behaviour. 3. The legal basis of ethical behaviour – duty of care; Tomorrow – 1b, 2, 3 ‘Management strategy’ and ‘ethics’ It is said that these two things are closely related. See the Study Guide, page 34. Examples – Australian Wheat Board/’Iraq contragate’/ James Hardie story. This topic examines this relationship. Ethics – a difficult topic! An undiscussable topic? Do you cheat in exams? Why or why not? Are you willing to talk about your practice? This illustrates some of the difficulty in dealing with ethics. What Is Business Ethics? Business ethics involves applying general ethical principles and standards to business activities, behaviour and decisions. Consider this example What about this example? But, then there is this example Two aspects to business ethics Intended unethical conduct – eg fraud. Avoiding responsibility for the unintended events which flow from management decisions. Example – oil spill/BP/Gulf of Mexico. A basic assumption in business ethics is that… Ethical principles in business are not different from ethical principles in general. Turn to page 192 of the Textbook and read the examples at the bottom of the page. What about this? Is it ethical for Governments to pay incentives to producers/industries to help them to be more competitive? How is this different from the examples of Alstom SA and Siemens AG? So, to repeat: a basic principle of business ethics is that… Business actions are judged By general ethical standa