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Learning Outcomes
1. Characterize business, society, and their 2.
interrelationships. Describe pluralism and identify its attributes, strengths, and weaknesses. Clarify how our pluralistic society has become a special-interest society. Identify, discuss, and illustrate the factors leading up to business criticism. Single out the major criticisms of business and characterize businesss general response.
2012 South-Western, a part of Cengage Learning 2
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Society
Pluralism
A society in which citizens can legally and publicly hold multiple competing ethical views and are allowed to choose for themselves what ethical beliefs if any they wish to hold; often mistaken for a society which tolerates different ethical beliefs or groups of people and holds that all are equal, which is correctly identified as moral relativism. A diffusion of power among a societys many groups. It is not a monoculture like a lawn of only green grass, it is a field of wildflowers full of color and life. Involves decentralization and diversity of power concentration. Power is dispersed among many groups and people. It is not in the hands of any single institution (e.g. Business, government, labor or the military) or a small number of groups.
http://www.revivingworkethic.com/entitlemen t-thinking-exposed/
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The ability or capacity to produce an effect or to bring influence to bear on a situation or people. To improve quality of life or exploit it through pollutions, slavery, lack of transparency, sinful pay of the CEOs, etc.
http://www.businessweek.com/stories/2003 -10-05/is-wal-mart-toopowerfulhttp://www.businessweek.com/sto ries/2003-10-05/is-wal-mart-too-powerful
2012 South-Western, a part of Cengage Learning 12
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In the long run, those who do not use power in a manner society considers responsible will tend to lose it.
If business does not meet the challenge of social responsibility, then government reform legislation will force it to meet its obligations. Example Saudization: The Saudi government has enacted policies to promote Saudization, including warnings that "companies which fail to comply with Saudization regulations will not be awarded government contracts"
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Business Ethics
Ethics
Refers to issues of right, wrong, fairness, and justice.
Business Ethics
Focuses on ethical issues that arise in the commercial realm.
Ethics questions permeate businesss activities as it attempts to interact with major stakeholder groups.
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Sustainability
Sustainable development meets the needs of the present without compromising the ability of future generations to meet their own needs. Has become one of businesses most pressing mandates. Includes the following criteria:
Environmental Economic Social
Concerns businesses abilities to survive and thrive over the long term.
2012 South-Western, a part of Cengage Learning 18
Stakeholders
Stakeholders
Individuals or groups with which business interacts and who have a vested interest in the firm.
External stakeholders Internal stakeholders
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Key Terms
Affluence Business Business ethics Business power Society Economic environment Education Ethics Iron Law of Responsibility Macroenvironment Pluralism Revolution of rising expectations Rights movement Social contract Society Special-interest society Stakeholder management Stakeholders Sustainability
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Discussion Questions
1. What is the one greatest strength of a pluralistic society? What is the one greatest weaknesses? Do these characteristics work for or against business? 2. Identify and explain the major factors in the social environment that create an atmosphere in which business criticism takes place and prospers. How are the factors related to one another? 3. Explain how business response to the business criticism.
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Experiential exercise
You are required to go through a newspaper on a given day of your choosing and identify news articles that make reference to any special interest group. You will identify and highlight special interest groups in those articles to understand how much news is "driven" to influence public opinion on a certain issue.
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http://www.naturalnews.com/037315_Monsa nto_GM_corn_breakfast_cereals.html
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