Business Ethics

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1. Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory. - The free market economic theory provides the rationale for the managerial responsibility to make as much money for their stockholders as possible. The justification of the free market is based on the utilitarian ethical principle that one should act so as to maximize the overall good. Therefore, the overall good in terms of the economic model is that of the stockholders. 2. What are the two ethical justifications for the economic model of corporate social responsibility? What are the most significant challenges facing these justifications? - The two ethical justifications for the economic model are the utilitarian and individual rights or private property defenses. The most significant challenges facing the utilitarian justifications are: those that focus on the adequacy of free markets as a means to the ends of maximally satisfying consumer demand, and those that focus on the appropriateness of these ends as legitimate ethical goals. Of these, market failure is a popular challenge that is raised when considering situations in which the pursuit of profit will not result in a net increase in consumer satisfaction. The two significant challenges to the private property defense are: recognizing that property rights are not absolute, and understanding that historically, corporate property rights differ from personal property, questioning the understanding of stockholders implied by this defense. 3. Explain the philanthropic model of corporate social responsibility. To what degree do you think it differs from the economic model? - Philanthropic corporate social responsibility holds that busine... ... middle of paper ... ...tuation or a person. I will call this this new implement “iron sharpens Iron” the key to this meeting is to set a foundation as to where you can talk to your peer and try to resolve a problem or a situation that may arise without involving managers. One brother sharpens the other. 8. If I were the CEO or the founder of a company I would want to be a fair, straightforward and motivated leader. A leader that is not only appreciative of his employees but I will make sure that they are happy and treated well within my organization. The way that I will create this image is by going above and beyond my duties, reaching out and listening to the feedback of my employee because I believe that they are in fact one of the most important part of my business. Holding open to suggestions meetings or doing employee of the month. My mission Statement would be “help me help you”.

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