Lecture 10 - Social responsibility & managerial ethics. After studying this chapter you will be able to understand: Obligations, responsiveness & responsibility; social responsibility; greening of management. | Introduction to Management LECTURE 10: Introduction to Management MGT 101 1 Introduction to Management In lecture 9 we discussed Topics from Chapter 4: How Organizations go Global? Global Environment & Issues Hofstede’s Cultural dimensions Challenges & Risks 2 Introduction to Management Today in Chapter 5 we will discuss Obligations, Responsiveness & Responsibility Social Responsibility Greening of Management 3 Introduction to Management (Chapter 5) Chapter 5: Social Responsibility & Managerial Ethics 4 Introduction to Management (Chapter 5) Obligation, Responsiveness & Responsibility 5 Introduction to Management (Chapter 5) 6 Social Obligation The obligation of a business is to meet its economic and legal responsibilities and nothing more. Introduction to Management (Chapter 5) 7 Social Responsiveness When a firm engages in social actions in response to some popular social need. Introduction to Management (Chapter 5) 8 Social Responsibility A business’s intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society. 9 Introduction to Management (Chapter 5) Social Responsibility 10 Introduction to Management (Chapter 5) 11 The Classical View Management’s only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation). Introduction to Management (Chapter 5) 12 The Classical View Expending the firm’s resources on doing “social good” unjustifiably increases costs that lower profits to the owners and raises prices to consumers. Introduction to Management (Chapter 5) 13 The Socioeconomic View Management’s social responsibility goes beyond making profits to include protecting and improving society’s welfare. Corporations are not independent entities responsible only to stockholders. Introduction to Management (Chapter 5) 14 The Socioeconomic View Firms have a moral responsibility to larger society to become | Introduction to Management LECTURE 10: Introduction to Management MGT 101 1 Introduction to Management In lecture 9 we discussed Topics from Chapter 4: How Organizations go Global? Global Environment & Issues Hofstede’s Cultural dimensions Challenges & Risks 2 Introduction to Management Today in Chapter 5 we will discuss Obligations, Responsiveness & Responsibility Social Responsibility Greening of Management 3 Introduction to Management (Chapter 5) Chapter 5: Social Responsibility & Managerial Ethics 4 Introduction to Management (Chapter 5) Obligation, Responsiveness & Responsibility 5 Introduction to Management (Chapter 5) 6 Social Obligation The obligation of a business is to meet its economic and legal responsibilities and nothing more. Introduction to Management (Chapter 5) 7 Social Responsiveness When a firm engages in social actions in response to some popular social need. Introduction to Management (Chapter 5) 8 Social Responsibility A business’s intention, beyond its legal .
