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Lecture Crafting and executing strategy: The quest for competitive advantage - Chapter 10

Chapter 10: Strategy, ethics, and social responsibility. This chapter includes contents: Three categories of management morality, what are the drivers of unethical strategies and business behavior? Business ethics in the global community, approaches to managing a company’s ethical conduct, why should company strategies be ethical? Linking a company’s strategy to its ethical principles and core values, | Strategy, Ethics, and Social Responsibility 10 Chapter Screen graphics created by: Jana F. Kuzmicki, Ph.D. Troy State University-Florida and Western Region Chapter Roadmap Strategy and Ethics What Do We Mean by Business Ethics? Three Categories of Management Morality What Are the Drivers of Unethical Strategies and Business Behavior? Business Ethics in the Global Community Approaches to Managing a Company’s Ethical Conduct Why Should Company Strategies Be Ethical? Linking a Company’s Strategy to its Ethical Principles and Core Values Strategy and Social Responsibility What Do We Mean by Social Responsibility? Linking Strategy and Social Responsibility The Moral Case for Corporate Social Responsibility The Business Case for Socially Responsible Behavior The Controversy over Do-Good Executives How Much Attention to Social Responsibility Is Enough? Linking Social Performance Targets to Executive Compensation Linkage of Strategy to Ethics and Social Responsibility Should there be a link between a company’s efforts to craft and execute a winning strategy and its duties to Conduct activities in an ethical manner? Demonstrate socially responsible behavior by Being a committed corporate citizen and Attending to needs of non-owner stakeholders? Key Issues What Are Ethical Principles? Involves concepts of Right and wrong behaviors Fair and unfair actions Moral and immoral behaviors Examples of ethical behaviors Honesty Integrity Keeping one’s word Respecting rights of others Practicing the Golden Rule Beliefs about what is ethical serve as a moral compass to guide behaviors of individuals and companies Concept of Business Ethics Business ethics involves applying general ethical principles and standards to business behavior Ethical principles in business are not different from ethical principles in general Business actions are judged by General ethical standards of society Not by more permissive standards Moral manager Amoral manager Immoral manager Three Categories of . | Strategy, Ethics, and Social Responsibility 10 Chapter Screen graphics created by: Jana F. Kuzmicki, Ph.D. Troy State University-Florida and Western Region Chapter Roadmap Strategy and Ethics What Do We Mean by Business Ethics? Three Categories of Management Morality What Are the Drivers of Unethical Strategies and Business Behavior? Business Ethics in the Global Community Approaches to Managing a Company’s Ethical Conduct Why Should Company Strategies Be Ethical? Linking a Company’s Strategy to its Ethical Principles and Core Values Strategy and Social Responsibility What Do We Mean by Social Responsibility? Linking Strategy and Social Responsibility The Moral Case for Corporate Social Responsibility The Business Case for Socially Responsible Behavior The Controversy over Do-Good Executives How Much Attention to Social Responsibility Is Enough? Linking Social Performance Targets to Executive Compensation Linkage of Strategy to Ethics and Social Responsibility Should there be a link