Theories of Ethics

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• Theories of Ethics
• Ethical Relativism -Individuals decide what is
  ethical based on their own feelings about what is
  right and what is wrong.
• Ethical Fundamentalism- People look to an outside
  source or central figure for ethical guidelines
  (Absolutism).
• The Teleological Approach
• Intuitionism- Although right and good are
  indefinable, we can know same through intuition.
• Utilitarianism- People choose the alternative
  that would provide the greatest good to society.
• The Deontological Approach
• Kantian Ethics-A set of universal rules based on
  reasoning establishes ethical duties.
• Rawlss Social Justice Theory -Moral duties are
  based on an implied social contract.

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• WHEN IT COMES TO CORPORATE SOCIAL
  RESPONSIBILITY (CSR) WHAT IS GOOD FOR SOCIETY IS
  GOOD FOR BUSINESS.

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• NEVER BEFORE HAS CORPORATE SOCIAL
  RESPONSIBILITY BEEN SO RELEVANT AND IMPORTANT,
  NOT ONLY TO BUSINESS SECTORS, BUT TO PEOPLE
  EVERYWHERE.

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• WHERE CORPORATE SOCIAL RESPONSIBILITY IS A
  PRIORITY, COMPANIES MUST ADDRESS MANY FACTORS
  WHEN CONSIDERING DEVELOPMENT, INCLUDING THE
  ENVIRONMENT, SOCIAL, AND ECONOMIC IMPACTS.

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The Social Responsibility of Business

• The Social Responsibility of Business is a duty
  owed by businesses to act socially responsible in
  producing and selling goods and services.

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Theories of Social Responsibility

• Maximize Profits To maximize profits for
  stockholders (Doctrine of Managerial Capitalism).
• Enlightened Self Interest - It is in the
  enlightened self interest of business to be
  socially responsible.
• Moral Minimum To avoid causing harm and to
  compensate for harm caused.
• Stakeholder Interest -To consider the interests
  of all stakeholders, including stockholders,
  employees, customers, suppliers, creditors, and
  local community.
• Corporate Citizenship -To do good and solve
  social problems.