Ethics and Social Responsibility in Business
Ethics and social responsibility are key principles in business that govern moral behavior and obligations to society. Explore the concepts of ethical behavior, making ethical decisions, and perspectives on social responsibility as discussed by Dr. Daniel Quaye at UGBS. Gain insights into ethical dilemmas, lapses, and the conflicting views on business obligations beyond profits.
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Presentation Transcript
Lecturer: Dr. Daniel Quaye, UGBS Contact Information: danquaye@ug.edu.gh College of Education School of Continuing and Distance Education 2014/2015 2016/2017
1. Ethics and social responsibility in Business Ethics: Defined as the principles and standards of moral behavior that are accepted by society as right versus wrong. Slide 2 Dr. Daniel Quaye, UGBS
What is Ethical Behaviour? Competing fairly and honestly. Communicating Truthfully. Not causing harm to others. Slide 3 Dr. Daniel Quaye, UGBS
What do you think about this? Slide 4 Dr. Daniel Quaye, UGBS
What do you think about this? Slide 5 Dr. Daniel Quaye, UGBS
Slide 6 Dr. Daniel Quaye, UGBS
How to make Ethical decisions Is the decision legal? (Does it break any law?) Is it balanced? (Is it fair to all concerned?) Can you live with it? (Does it make you feel good about yourself)) Is it feasible? (Will it actually work in the real world?) Dr. Daniel Quaye, UGBS
Ethical situations can be classified into two general types: An ethical dilemma: A situation in which a person must choose between two conflicting but arguably valid sides. Ethical lapse: When a person makes a decision that is clearly wrong Slide 8 Dr. Daniel Quaye, UGBS
2. Perspectives on Social responsibility Social responsibility: Is the idea that business has certain obligations to society beyond the pursuit of profits. Conflicts over social responsibility are often fueled by different perspectives that can be grouped into three categories. Slide 9 Dr. Daniel Quaye, UGBS
The traditional perspective: Business is making money. The contemporary perspective: Ethics pays. An emerging perspective: dynamically balancing ethics and profits. Slide 10 Dr. Daniel Quaye, UGBS
3. Emerging Issues from the Ethics/Social Responsibility Debate a. Responsibility toward investors concerned about the ethics of the company in which they invest. Given the scandals of recent years, many investors are Slide 11 Dr. Daniel Quaye, UGBS
b. Responsibility towards Consumers The right to safe products. The right to be informed. The right to be heard. Slide 12 Dr. Daniel Quaye, UGBS
c. Responsibility toward employees - The Push for equality in employment. - Occupational health and safety. Slide 13 Dr. Daniel Quaye, UGBS
Reading materials Introduction of Business Administration Distance Education Manual- Dr Daniel Quaye. Madura, Jeff (2007), Introduction to Business Administration, South-Western College Slide 14 Dr. Richard Boateng, UGBS
