Module 08 - Lecture notes 8 PDF

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Socially Responsible Online Lecture - Reflective writing

Reflective writing is a process of putting your reflective thinking into writing Reflective thinking is an important part of the process Writing is documenting this has happened Reflective thinking is about looking equally at past events and future events looking at how the lessons/things learnt could be applied o Three-stage process  Looking back  Don't just concentrate on it by itself  Take a metaphorical step back ward so you can see it in the context of other events/learning

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Online Lecture - Greenwashing: Busting “eco” labels (CBC Marketplace)

o Marketing that makes customers/consumers think that a product is better for the environment and safe to use. o The Green spin doesn’t fool Adria Vassal - this self-described eco-holic has filled books warning customers about all kind of greenwash o ‘Raid Earth Blends Multi Bug Killer’ - LOUSY LABEL  Has green marketing  Label reads “contains an insecticide derived from the chrysanthemum flower” o All-natural things aren't good for you example the chemical that comes from the chrysanthemum flower has risks as stated in the precautions o Label claims you can use it on bedbugs but many parts of Canada you cannot use it outside on your lawn because of the pesticide bans but okay for bed o SC Johnson states that it is a Green product as “SC Johnson is committed to using sustainable ingredients in our products” and “our products are safe and effective when used as directed” Chapter 5 – Social responsibility and managerial ethics

o Social obligation When a firm engages in social actions because of its obligations to meet certain economics and legal responsibilities o Classical view The view that managements only social responsibility is to maximise profits o Socioeconomic view The view that managements social responsibility goes beyond making profits to include protecting and improving society’s welfare o Social responsiveness The capacity of a firm to adapt to changing social conditions o Social responsibility A business intention beyond that required by law or economics to pursue long term goals that are good for society o Social screening

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Applying social criteria (screens) to investment decisions Green management The recognition of the close link between an organisation decision and activities and impacts on the natural environment Sustainability report A framework for reporting an organisation performance encompassing the tripe bottom line of economics environmental and social issues Ethics Principals, values and beliefs that define what is right and wrong behaviour Value Basic convictions about what right and wrong Ego strength A personality measure of the strength of a person conviction Locus of control A personality attribute that reflects the degree to which people belief they control their own fate Values-based- management The organisations values guide employee in the way they do their jobs Codes of ethics A formal statement of an organisation’s primary values and the ethical rules it expects its employee to follow Social entrepreneur An individuals or organisations that seeks out opportunities to improve society by using practical innovations and sustainable approaches

5.1 Social obligation which reflects the classical view of social responsibility is when a firm engages in social actions because of its obligation to meet certain economics and legal responsibilities. Social responsiveness is when a firm engages in social actions in response to some popular social need. Social responsibility is a business intention, beyond its economics and legal obligations, to pursue long term goals that are goods for society. Both of these reflect the socioeconomics view of social responsibility. To determine whether company should be socially responsible – look at argument for and against. Asses impact of social involvement on a company’s economics performance and evaluate the performance of SR investment fund v. NSR investment funds. Being socially responsible does not hurt it economic performance. 5.2 Green management is when managers consider the impact of their organisation on the natural environment. Many way to ‘go green’. o Light green – required legally – social obligations.  Market approaches Organisation responds to environmental preferences of customers  Stakeholder approaches Organisations responds to the environmental demands of multiple stakeholders

o Dark green – ways to respect and preserve earth and its natural resources – social responsibility 5.3 Ethics refers to principals, values and beliefs that define right and wrong. o Individuals levels of moral development – preconventional, conventional or principals o Individuals characteristic – values and personality variables --- ego strength and locus of control o Structural variables – structural design, use of goals, performance appraisal systems and rewards allocations procedure o Organisational culture – shared values and cultural strengths o Issue intensity – greatness of harm, consensus of wrong, probability of harm, immediately of consequences, proximity to victims and concentrations of effect. Ethics standard is universal so manager should know what they can do legally and can’t do, it is very important to recognise cultural differences and to clarify ethical guidelines for employees working in different global locations 5.4 The behaviour of managers is important influence on an individual’s decisions to ethically or unethically. Many way to encourage ethical behaviour: o Paying attention to employee selections o Having or using a code of ethics o Recognising the important ethical leadership role they play and how what they do is far more important than what they say o Ensuring that goals and performance appraisal process do not rewards goal achievement without taking into account how those goals were achieved o Using ethics trading and independent social audits o Establishing protective mechanism 5.5 Managers can manager unethical behaviour or social irresponsibility by being a strong ethical leader and by protecting employees and who raise ethical issues( by encouraging to come forward) . Ethical leaders are honest, share values, stress important shared values and used the reward systems appropriately. Social entrepreneurs play an important roles in solving social problems through seeking opportunities to improve society by using practical, innovation and sustainable approaches....