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Ebook Crafting and executing strategy (20th edition): Part 2

(BQ) Part 1 book "Crafting and executing strategy" has contents: What is strategy and how is the process of crafting and executing strategy managed, crafting strategy in single business companies, crafting strategy in international and diversified companies, executing strategy,.and other contents. | www.downloadslide.com www.downloadslide.com CHAPTER 9 Ethics, Corporate Social Responsibility, Environmental Sustainability, and Strategy Learning Objectives THIS CHAPTER WILL HELP YOU UNDERSTAND: LO 1 How the standards of ethical behavior in business are no different from the ethical standards and norms of the larger society and culture in which a company operates. LO 2 What drives unethical business strategies and behavior. LO 3 The costs of business ethics failures. LO 4 The concepts of corporate social responsibility and environmental sustainability and how companies balance these duties with economic responsibilities to shareholders. www.downloadslide.com Social obligation is much bigger than supporting worthy causes. It includes anything that impacts people and the quality of their lives. William Ford Jr. – Chairman of the Ford Motor Company Since most corporate competitors have the same problems with sustainability and social reputation, it’s worth trying to solve them together. Simon Mainwaring – Founder and CEO of We First, Inc. The time is always right to do what is right. Martin Luther King , Jr. – Civil Rights Activist and Humanitarian Clearly, a company has a responsibility to make a profit and grow the business. Just as clearly, a company and its personnel have a duty to obey the law and play by the rules of fair competition. But does a company also have a duty to go beyond legal requirements and conform to the ethical norms of the societies in which it operates? Does it have an obligation to contribute to the betterment of society, independent of the needs and preferences of the customers it serves? Should a company display a social conscience and devote a portion of its resources to bettering society? Should its strategic initiatives be screened for possible negative effects on future generations of the world’s population? This chapter focuses on whether a company, in the course of trying to craft and execute a strategy that .