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Social Responsibility and Ethics

The document discusses social responsibility and ethics in business. It outlines the responsibilities that organizations have to various stakeholders like government, suppliers, customers, employees and shareholders. It also discusses the importance of corporate social responsibility which considers profit as well as societal well-being. CSR involves discretionary philanthropic activities as well as ethical and legal responsibilities to operate in a socially responsible manner. Examples are given of how different companies contribute to social welfare through CSR initiatives.

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Shipra Singh
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61 views17 pages

Social Responsibility and Ethics

The document discusses social responsibility and ethics in business. It outlines the responsibilities that organizations have to various stakeholders like government, suppliers, customers, employees and shareholders. It also discusses the importance of corporate social responsibility which considers profit as well as societal well-being. CSR involves discretionary philanthropic activities as well as ethical and legal responsibilities to operate in a socially responsible manner. Examples are given of how different companies contribute to social welfare through CSR initiatives.

Uploaded by

Shipra Singh
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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SOCIAL

RESPONSIBILITY
AND ETHICS
Social Responsibility
 Management’s consideration of profit,
consumer satisfaction, and societal well-
being of equal value in evaluating the firm’s
performance.
 Contributions to the overall economy, job
opportunities, and charitable contributions
and service.
 Organizations measure through social audits.
Areas Of Responsibility

 To the Government.
 To the suppliers.
 To the General pubic.
 To Customers.
 To Employees.
 To the Owners or Shareholders.
Responsibilities to the
Government
 Honest and Timely Payment of Taxes.

 Compliance with Laws and Government


policies.
Responsibilities to the
Suppliers

 Fair Terms and Conditions.

 Timely Payments.

 Suggestions for Improvement.


Responsibilities to the General
Public
 Public Health Issues. What to do about inherently dangerous
products such as alcohol, tobacco, vaccines, and steroids.

 Protecting the Environment. Using resources efficiently,


minimizing pollution.

 Recycling. Reprocessing used materials for reuse.

 Developing the Quality of the Workforce. Enhancing quality of


the overall workforce through education and diversity initiatives.

 Corporate Philanthropy. Cash contributions, donations of


equipment and products, and supporting the volunteer efforts of
company employees.
Responsibilities to customers
 The Right to Be Safe. Safe operation of products,
avoiding product liability.

 The Right to Be Informed. Avoiding false or


misleading advertising and providing effective customer
service.

 The Right to Choose. Ability of consumers to choose


the products and services they want.

 The Right to Be Heard. Ability of consumers to


express legitimate complaints to the appropriate parties.
Responsibilities to Employees
 Workplace Safety. Monitored by Occupational Safety
and Health Administration.

 Quality-of-Life Issues. Balancing work and family


through flexible work schedules, subsidized child care, and
regulation such as the Family and Medical Leave Act of
1993.

 Ensuring Equal Opportunity on the Job. Providing


equal opportunities to all employees without
discrimination; many aspects regulated by law.

 Age Discrimination. Age Discrimination in Employment


Act of 1968 protects workers age 40 or older
Responsibilities to Owners or
Shareholders

 Fair Return on capital.

 Safety of Funds.

 Capital Appreciation.

 Sharing of Information about Working of


Business and Future Plans.
Dimensions Of CSR
 Traditional corporate philanthropy ,
i.e., charity for socio-cultural and religious
purposes.
 CSR, with a focus on sustainable
development and attending to
stakeholders priorities.
 Ethical business, based on social values
and stakeholders’ long term interests.
Components Of CSR
Discretionary
Responsibilities
(philanthropy)
Do good to others

Ethical Responsibilities
Follow ethical (just and fair)
practices

Legal Responsibilities
Obey the laws of land

Economic Responsibilities
Attain economic goals, i.e., survival, profitability and growth
Some Examples Of CSR
 TISCO has made several contributions in areas
such as community development, social welfare,
tribal area development, rural industrialization,
and so on.
 BHEL has contributed to the development of
the quality of life in rural areas, healthcare and
family welfare, adult education and so on.
 SAIL has contributed to the sectors of
agriculture, industry, education, healthcare and
so on.
 ITC has been socially active in the areas of
agriculture, culture, sports, and pollution control.
BUSINESS ETHICS
The standards of conduct and moral
values governing actions and
decisions in the work environment.

 Social responsibility.
 Balance between what’s right and what’s
profitable.
 Often no clear-cut choices.
 Often shaped by the organization’s ethical
climate.
Some Examples Of Ethics are

• To charge fair prices from customers.


• To pay taxes to the government
honestly.
• To earn reasonable profits.
• To give fair treatment to the workers.
• To use fair weights for measurement of
commodities.
Need and Importance of
Business Ethics

 Environmental Pressure.

 Enlightened Self Interest.

 Moral Consciousness.

 Legal Requirements.
Principles Of Business Ethics
 Be Trustful
 Keep an open mind.
 Meet obligations.
 Have clear documents.
 Become community involved.
 Maintain accounting control.
 Be respectful.
THANK YOU!!!!

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