Business Finance
Columbia University Ethics and Social Responsibility Questions

Columbia University

Question Description

I’m stuck on a Business question and need an explanation.

With respect to business ethics and social responsibility of your company

  1. Please provide several examples of socially responsible behaviors of your organization.
  2. In your opinion, which approach does your company take in terms of social responsibility (Obstructionist, Defensive, Accommodate, Proactive)? Please explain briefly.
  3. The outbreak of the coronavirus disease 2019 (COVID-19) is affecting organizations in different industries. If you were the manager of your department, what measures would you implement while taking business ethics and social responsibility into account?

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Assignment Brief With respect to business ethics and social responsibility of your company 1. Please provide several examples of socially responsible behaviors of your organization. 2. In your opinion, which approach does your company take in terms of social responsibility (Obstructionist, Defensive, Accommodate, Proactive)? Please explain briefly. 3. The outbreak of the coronavirus disease 2019 (COVID-19) is affecting organizations in different industries. If you were the manager of your department, what measures would you implement while taking business ethics and social responsibility into account? ETHICS AND SOCIAL RESPONSIBILITY Who are STAKEHOLDERS ? Stockholders Employees Managers COMPANY Suppliers and Distributors Customers Community, Society and Nation-State Refer to Jones G. & George J., Contemporary Management, 2019, p.91-94 What is the appropriate way to manage the claims of all stakeholders? Rules for Ethical Decision Making Rules for Ethical Decision Making Jones G. & George J., Contemporary Management, 2019, p.97 Why should Managers Behave Ethically? Trust Reputation • The willingness of one person or a group to have faith or confidence in the good-will of another person, even though it puts them at risk • The esteem or high repute that individuals or organizations gain when they behave ethically Why Should Managers Behave Ethically? Ethical Behavior Unethical Behavior Increases efficiency and effectiveness of production and trade Reduces efficiency and effectiveness of production and trade Increases company performance Reduces company performance Increases national standard of living, well-being and prosperity Reduces national standard of living, well-being and prosperity ETHICS AND SOCIAL RESPONSIBILITY Four Main Sources of Managerial Ethics 1. 2. 3. 4. Societal Ethics Individual Ethics Organizational Ethics Occupational Ethics Societal Ethics • Standards that govern how members of society should deal with one another in matters involving issues such as fairness, justice, poverty and the rights of the individual • It emanates from a society’s laws and unwritten norms Occupational Ethics • Standards that govern how members of a profession, trade, or craft should conduct themselves when performing work related tasks Occupational Ethics Individual Ethics • Personal standards and values that determine how people view their responsibilities to others and how they should act in situations when their self interests are at stake Individual Ethics Organizational Ethics • The guiding practices and beliefs through which a particular company and its managers view their responsibility toward their stakeholders Organizational Ethics Organizational Ethics APPROACHES TO SOCIAL RESPONSIBILITY Social responsibility – The way a company’s managers and employees view their duty or obligations to make decisions that protect, enhance and promote the welfare and well-being of stakeholders and society as a whole Jones G. & George J., Contemporary Management, 2019, p.107 Approaches to Social Responsibility OBSTRUCTIONIST APPROACH Companies and their managers choose not to behave in a socially responsible way and instead behave unethically and illegally DEFENSIVE APPROACH Companies and their managers behave ethically to the degree that they stay within the law and strictly abide by the legal requirements Low Social Responsibility ACCOMMODATIVE APPROACH Companies and their managers behave legally and ethically and try to balance the interests of different stakeholders as the need arises SOCIAL RESPONSIBILITY PROACTIVE APPROACH Companies and their managers actively embrace socially responsible behavior, going out of their way to learn about the needs of different stakeholder groups and using organizational resources to promote the interests of all stakeholders High Social Responsibility ...
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Final Answer

Hi -this is complete - let me know what you think! I work at Progressive and this is all actually true, they've been amazing about this COVID19 outbreak, but wanted to left out the name just in case.

My company is somewhere in between the accommodating and proactive approaches
to social responsibility. There is a strong company culture of doing what is right, to its
people, customers and shareholders. In every message for every initiative undertaken,
these three groups are emphasized. It’s always “how do we take care of our own, how do
we take care of our customers, and how do we provide value to our shareholders?” One
group is never held in higher regard than the others, the way that some businesses thi...

Sara_777 (1080)
Rice University

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