Introcution-to-Business-商学导论PPT-IB02

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Sarbanes-Oxley Act: the Public Accounting Reform and Investor Protection Act, 2002
Violations of Responsibility
Cases of misleading stockholders: provide misleading financial information that exaggerates financial condition
– Oracle Corp. – Enron (Ken Lay and Jeff Skillings) – WorldCom (63 year old CEO Ebber’s sentenced to 25 years – Global Crossing (Inflated earnings, bankruptcy) – ImClone (Sam and Martha) – Tyco (Dennis)
Employee 1980
1990
2000
Responsibility to Creditors
Provide accurate information • Make payment • Inform creditors if having difficulty in meeting obligations • If firm does not pay creditors what it owes them, it may have to file for bankruptcy. Cases of misleading stockholders
Beliefs
Race
Ways to Ensure Responsibility to Employees
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Code of responsibility Grievance policy Good example: Marriott
1. sets up a mediation process 2. offers a toll-free number for employees to call 3. to voice complaints in front of a panel of employees
Job Satisfaction
Responsibility to Stockholders
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Decisions should reflect the best interest of the owners
–Tie employee compensation to firm performance – Disclosure of accurate information about financials
中国慈善排行榜
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2004中国慈善排行榜发布一张榜单上榜慈善家50位，合计捐赠款物折 合10.29亿元。 2005中国慈善排行榜上榜慈善家136位，合计捐赠9.85亿元（含实物捐 赠）。 2006中国慈善排行榜上榜慈善家162位，合计捐赠15.89亿元（含实物 捐赠）；上榜跨国公司42家，合计捐赠款物折合4.27亿元；上榜上市公 司44家，合计捐赠款物折合1.2亿元。 2007中国慈善排行榜上榜慈善家174位，合计捐赠19.1亿元（不含实物 捐赠）；上榜慈善企业222家，合计捐赠20.7亿元。 2008中国慈善排行榜上榜慈善家149位，合计捐赠16.5亿元（不含物品 捐赠），平均捐赠1107万元；入榜慈善企业325家，合计捐赠54.9亿元 （不含物品捐赠），平均捐赠1689万元。 “2009中国慈善排行榜”入榜慈善家121位，共计捐赠18.84亿元；入 榜慈善企业899家，共计捐赠117.95亿元（含物品捐赠）。 - 江苏黄埔再生资源利用有限公司董事长陈光标继2008年获得“中国 首善“称号后，今年获得中国慈善排行榜最高奖项“最具号召力的中国 慈善家”称号，世纪金源集团黄如论、黄涛父子因现金捐赠第一名而获 得“中国首善”称号，四川宏达集团董事长刘沧龙获得“2009慈善特 别贡献奖”。 - 此外，陈逢干、杨受成、匡俊英、王秋杨、李兆会、李清友、杨卓舒、 杨勋、李爱君、孙荫环等10人被评选为“2009十大慈善家”；恒源祥、 浏阳河、顶新集团、前进钢铁、加多宝、TCL、中国人寿、强生、晶龙、
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Improve firm’s image • Maximizing social responsibility may conflict with maximizing firm value
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– may reduce firm’s ability to provide products at reasonable prices
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Checkers
– Provides jobs for inner-city residents
Coca-Cola
– Sponsors Boys and Girls Clubs
Summary
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Business ethics influence decisions Firms have basic responsibilities to
Stockholder Actions
Shareholder activism • Institutional investors
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Executive Compensation
C.E.O.
• X times the average compensation of employees
500
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Quid pro quo (交换物） Hostile environment Civil Rights Act of 1964 EEOC: Affirmative action
– Equal opportunity

Types of Diversity
Religion
Gender
Age
2.
Explain the cost of fulfilling social responsibilities
Key Terms
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business ethics code of ethics social resposibility corporate resposibility customer loyalty consumerism monopoly antitrust law deregulate deposits interest rates morale
• diversity • sexual harassment • affirmative action (Br:positive dicrimination) • grievance policy • layoffs • dilemma • employee turnover • shareholer activism • institutional investors • tradeoff
Responsibility to Customers
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Responsible production practices
– safety – warning labels
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Responsible sales practices
Ways to Ensure Responsibility to Customers
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Responsibility to the Environment
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Production processes, as well as products, can harm the environment
– Air Pollution – Land Pollution
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Ways to prevent − firms: change production/packaging processes, recycle − government: specific guidelines
Responsibilities in International Environment
Awareness of cultural differences • Avoid unethical payoffs • Establish ethical global reputation
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Social Responsibility: Examples
– Customers – Employees – Stockholders – Creditors – Environment – Communities
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Explain the costs
Responsibility Conflicts
Environment
Profitability
• Environmental expenses vs company profit
Responsibility to the Community
Contributions: sponsor local events • Foundations: make charitable contributions • Charity:
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Rቤተ መጻሕፍቲ ባይዱle of firms:
1. Establish a code of responsibilities 2. Monitor complaints 3. Obtain & utilize customer feedback
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Role of consumerism Role of government: laws on
Part I: Organization of a Business
2
Business Ethics & Social Responsibility
Learning Goals
1.
Describe responsibilities of firms to:
– – – – – – Customers Employees Stockholders Creditors Environment Communities
- product safety - advertising - industry competition
Responsibility to Employees
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Employee Safety
– workplace
Proper Treatment of Employees
– Diversity – Prevention of sexual harassment
– – – – – customers employees stockholders environment Community
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Social responsibility decisions & impact: p.59
Conflict Among Responsibilities
Customers
Communities
Employees
Environment
Stockholders Creditors
Conflict Among Responsibilities
Learning Goals (revisited)
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Describe responsibilities of firms to:
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Apple and IBM
– Invest in education programs
Home Depot
– Donates to community programs for housing projects – Provided supplies and equipment to 9.11 rescue efforts