Deck 21: Ethics and Social Responsibility: Doing the Right Thing

Question 1

What can business owners do to maintain high ethical standards in their companies

Answer 1

Ethics in business means more than just conforming to prevailing standards or laws. It means approaching business in the spirit of service rather than self-enrichment. It means always viewing your enterprise as contributing to rather than extracting from society. Implementation of ethical standards and maintaining those standards is the real challenge facing management.
The benefits for business owners to maintain high ethical standards of the companies are as follows-
• Training for ethics and moral values
The new employees and existing ones should be provided with leadership campaign based on ethics and code of conduct in corporate organizations.
• Strict Rules and Surveillance
The management should control the employees based on the rules and regulation listed by board of members. It should monitor the activities, management, code of conduct and behaviorism of its employees'.
• Strategize the process to increase transparency
The strategic policies of business should increase the transparency of functions and business activities among its employees and management.
• Employee centered policy
The management should play its employees on priority. They should convey decisions in favor of employees and provide them with support as per the requirements of employees' as an individual.
All the above mentioned benefits reflect the position and management skills possessed by business owners.

Question 2

What is social responsibility

Answer 2

Social Responsibility is defined as doing business in accordance with the ethical standards that benefit the society at large. This includes manufacturing environment friendly products and services. Doing charity, to support the backward or unprivileged section of the society
It helps in maintaining the equilibrium between the ecosystem any the economy. The companies can act passively by not causing any harm to the environment through its activities or it can be active by performing activities which are for the good of the society.
These days, customers are more loyal toward the companies who are socially responsible. Hence, in order to retain the customer base and fulfill their demands, it is advised that the company must be social responsible.

Question 3

Describe business's social responsibility to each of the following areas:
• The environment
• Employees
• Customers
• Investors
• The community

Answer 3

B USINESS'S RESPONSIBILITY TOWARDS ENVIRONMENT
Companies have the social responsibility to safeguard the environment. Companies should focus on the three R's to protect the environment: reduce, reuse, and recycle.
• The amount of materials and energy used in the company should be reduced for sustainable development.
• The company should reuse the materials whenever possible.
• Before disposing any material into the environment the company should recycle it.
B USINESS'S RESPONSIBILITY TOWARDS EMPLOYEES
Employees are the most important asset of the company. It is the responsibility of the company to protect them against different hazards at the place of work. The company should ensure that there is no sexual harassment at the work place. They should be given privacy. Proper safety measures should be implemented.
B USINESS'S RESPONSIBILITY TOWARDS CUSTOMERS
The companies have the social responsibility toward the customers as well. They should not deceive the customers in any way. The product or services given to the customers should be of appropriate quality as promised. The companies should not overcharge the customers.
B USINESS'S RESPONSIBILITY TOWARDS INVESTORS
Investors should be provided with adequate ROI. They should be informed about the financial position of the company from time to time.
B USINESS'S RESPONSIBILITY TOWARDS THE COMMUNITY
It is the corporate responsibility of the business to give back to the community what the take from it, in their course of doing business and generating profits.

Question 4

What can businesses do to improve the quality of our environment

Question 5

Should companies be allowed to test employees for drugs Explain. How should a socially responsible drug-testing program operate

Question 6

Many owners of trucking companies use electronic communications equipment to monitor their drivers on the road. They say that the devices allow them to remain competitive and to serve their customers better by delivering shipments of vital materials exactly when their customers need them. They also point out that the equipment can improve road safety by ensuring that drivers get the hours of rest the law requires. Opponents argue that the surveillance devices work against safety. "The drivers know they're being watched," says one trucker. "There's an obvious temptation to push " What do you think What ethical issues does the use of such equipment create How should a small trucking company considering the use of such equipment handle these issues

Question 7

What rights do customers have under the Consumer Bill of Rights How can businesses ensure those rights

Question 8

What is ethics Discuss the three levels of ethical standards.

Question 9

In any organization, who determines ethical behavior Briefly describe the three ethical styles of management. What are the benefits of moral management

Question 10

Why do ethical lapses occur in businesses

Question 11

Describe the various methods for establishing ethical standards. Which is most meaningful to you Why