MGT5019-8 > Virtue, Values and Economics

Virtue, Values and Economics
A key aspect of ethics is the responsibility of the corporation to the community – what contributions and efforts should corporations make to others beyond their shareholders? As Jennings (2012) notes,
Without the cheap labor, the shoe manufacturer believes it can’t compete. Without the jobs, the nation can’t develop, but children are working 50-hour weeks in these third-world countries. Fair and just treatment in the workplace is an issue the company must face in making a decision for foreign outsourcing of labor. But there are compelling points even the workers in those countries and the parents of the children make about the use of cheap labor as a benefit to them and their countries’ economic development. (p.89)

How do businesses best contribute to communities – through boycott or economic development? Although society may recognize the value of ethics, evidence indicates that companies and their employees have not always perceived or properly resolved the ethical dilemmas that confront them. Many firms simply adopt a standard of complying with positive law, or any law enacted at any level of government that carries some sanction or punishment for noncompliance. For example, Friedman’s notion of social responsibility provides that if it is cheaper to pay a fine for releasing effluent into the water surrounding a plant than it is not to pollute or to clean it up, then releasing the effluent is the most responsible action. Friedman also notes that some companies profess social responsibility simply to appeal to the public-at-large, remain competitive, and ensure profits – and they should.

Others, such as Entine and Jennings, argue that business ethics means meeting the responsibilities of corporations and small businesses. Some of these responsibilities may not seem like “ethics” at all. The responsibilities are simply the behaviors necessary to make a business succeed. It is important to understand the differences between ethical responsibilities and societal responsibilities and how the two concepts might interact.

Again, the study of business ethics is not the study of what is legal, but of the application of moral standards to business decisions. In defining business ethics, we are really defining the voluntary role of business: how does a business behave when the law does not dictate its conduct or the law permits conduct that might benefit shareholders but is harmful to others?

Introduction: Activity

Corporate Social Responsibility

Corporate social responsibility refers to the promotion of social consciousness as a business platform or marketing strategy. These companies are associated with labels such as “green” and “socially responsible” and promote themselves in contrast to companies who are caricatured as old-school corporate kings such as: Gillette, Dow Chemical, Exxon, tobacco companies, defense contractors, and the chemical industry (Jennings, 2012, p. 102). Of course, business ethics is much more complex and blurry than these two dichotomous stereotypes: social responsibility and big business.
1. Review the resources listed in the Books and Resources area below to prepare for this week’s assignment(s).
How to Prepare a Blog
This week, you will create a blog. Refer to the resources below to get started if this is your first time writing a blog.
How to Write a Blog in 5 Easy Steps. About.com at http://weblogs.about.com/od/writingablog/tp/How-To-Write-A-Blog-In-5-Easy-Steps.htm
How to Write a Blog. ehow. http://www.ehow.com/how_2124349_write-popular-blog.html
Week 3 Assignment: Assess Corporate Social Responsibility

Activity Description
Entine and Jennings (Case 3.3, p. 104) note that there are eight questions that should be answered about a company to determine the character of its soul:
1. Does the company comply with the law?
2. Does the company have a sense of propriety?
3. How honestly do product claims match with reality?
4. How forthcoming is the company with information?
5. How does the company treat its employees?
6. How does the company handle third-party ethics issues?
7. How charitable is the company?
8. How does the company react when faced with negative disclosures?
Develop a blog aimed at assessing corporate social responsibility. Be sure to address the following:
• Contrast the Entine and Jennings’ views with those of Friedman and Freeman, found within your text.
• What is the difference between Entine and Jennings’ eight questions and traditional measures of social responsibility?
• Would the model mean that Fannie Mae could be labeled an “honest” company? Why or why not?
Support your blog with at least three (3) scholarly resources. In addition to these specified resources, other appropriate scholarly resources may be included.

Length of blog: 3 entries (approximately 350 words per entry)

Your blog should be located at a web site that can be easily accessed by Faculty (e.g., www.blogger.com,www.wordpress.com, www.blogster.com, www.blog.com, or www.multiplicity.com). It should contain text that is readable, links that work, a display of at least one graphic, and content information that supports the assignment requirements.

Your writing within the blog should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to NORTHCENTRAL UNIVERSITY’S Academic Integrity Policy.

Submit a word document that contains the URL of the blog and your name. Include references to course resources presented in proper APA format.

Upload your assignment using the Upload Assignment button below.

Learning Outcomes
1.0 Summarize the actions taken to meet ethical considerations relative to social performance, financial performance, and reputation.
4.0 Discriminate the increasing extent to which social, ethical, and public issues must be considered in stakeholder relationships.
5.0 Evaluate the complexities in enforcing ethics.

Week 3 Assignment: Assess Corporate Social Responsibility

Activity Description
Entine and Jennings (Case 3.3, p. 104) note that there are eight questions that should be answered about a company to determine the character of its soul:
1. Does the company comply with the law?
2. Does the company have a sense of propriety?
3. How honestly do product claims match with reality?
4. How forthcoming is the company with information?
5. How does the company treat its employees?
6. How does the company handle third-party ethics issues?
7. How charitable is the company?
8. How does the company react when faced with negative disclosures?
Develop a blog aimed at assessing corporate social responsibility. Be sure to address the following:
• Contrast the Entine and Jennings’ views with those of Friedman and Freeman, found within your text.
• What is the difference between Entine and Jennings’ eight questions and traditional measures of social responsibility?
• Would the model mean that Fannie Mae could be labeled an “honest” company? Why or why not?
Support your blog with at least three (3) scholarly resources. In addition to these specified resources, other appropriate scholarly resources may be included.

Length of blog: 3 entries (approximately 350 words per entry)

Your blog should be located at a web site that can be easily accessed by Faculty (e.g., www.blogger.com,www.wordpress.com, www.blogster.com, www.blog.com, or www.multiplicity.com). It should contain text that is readable, links that work, a display of at least one graphic, and content information that supports the assignment requirements.

Your writing within the blog should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to NORTHCENTRAL UNIVERSITY’S Academic Integrity Policy.

Submit a word document that contains the URL of the blog and your name. Include references to course resources presented in proper APA format.

Upload your assignment using the Upload Assignment button below.

Learning Outcomes
1.0 Summarize the actions taken to meet ethical considerations relative to social performance, financial performance, and reputation.
4.0 Discriminate the increasing extent to which social, ethical, and public issues must be considered in stakeholder relationships.
5.0 Evaluate the complexities in enforcing ethics.

Your blog should be located at a web site that can be easily accessed by Faculty (e.g., www.blogger.com, www.wordpress.com, www.blogster.com, www.blog.com, or www.multiplicity.com). It should contain text that is readable, links that work, a display of at least one graphic, and content information that supports the assignment requirements.

Your writing within the blog should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to NORTHCENTRAL UNIVERSITY’SAcademic Integrity Policy.

Submit a word document that contains the URL of the blog and your name. Include references to course resources presented in proper APA format.

Learning Outcomes

1.0 Summarize the actions taken to meet ethical considerations relative to social performance, financial performance, and reputation.
4.0 Discriminate the increasing extent to which social, ethical, and public issues must be considered in stakeholder relationships.
5.0 Evaluate the complexities in enforcing ethics.

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