readings high points key points from each article day i
TRANSCRIPT
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Readings High PointsReadings High Points
Key Points From Each ArticleDay I
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Can a CorporationHave a Conscience?
• It can and it should.• No more or less morally responsible than
individuals• Not solely economic (individuals as
means) nor legal-political (any action that is not punished by government)
• Three uses of “Responsible”– Causal (blame – after the fact)– Rule-following (follow social and legal norms)– Decision-making (independent judgment)
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Corporate Social Responsibility and Employee
Engagement
• CSR can and will attract employees and retain them– Generation Y workers set social
responsibility above compensation– Even stronger in China, India and Germany– Communicate and engage
• CSR works when employees are engaged in specifics
• Belief in the values and socially responsible goals of the organization retains employees
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Corporate Social Responsibility: Doing Well by Doing Good
• CSR can be an efficient management strategy– Improved economic performance– Improved competitive position, including
first mover advantage• Stakeholder approach
– Stakeholders valued by cash flow influence– Net present value– “Treat society well… It will return the favor
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Corporate Social Responsibility: Doing Well by Doing Good
• Structural action vs. strategic action– Meet claim without creating opportunity for
competitors – Structural action when opportunity would
be created – Strategic action to create advantage (first
mover)• Agent – Owner
– Different time horizon/discount rates– CSR best effected by flat compensation
structure (salary only)
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What Matters Most: Corporate Values and Social Responsibility
• Companies are adopting social responsibility programs, world-wide
• Workers and managers are seeking opportunity to do good
• Most frequent obstacle is lack of enlightened leadership
• Public less tolerant• Change in role of NGO’s – collaborative
relationships• Starts with values – living in the hearts and minds
of employees• Transparency forms the foundation of trust.
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“Good” Bad Ethical Managers Choices
• Rationalizations– Not “really” illegal or immoral– In individual’s or company’s best
interest– It will never be found out– Company will condone and protect
• Know which risks are worth taking• Prevent misconduct, not catch it
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Managing for Organizational Integrity• Company responsible for
individual’s misdeeds– Everything to do with management– Provide leadership and institute
systems to facilitate ethical conduct
• Shape individuals’ behavior– Incentive and performance systems– Management behavior
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Managing for Organizational Integrity
• Compliance versus integrity– Compliance = legal– Integrity = ethical
• Compliance– Insurance for executives– Factors in sentencing
• Integrity– Leads organization– Engages employees
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Readings High PointsReadings High Points
Day II
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Building Organizational Integrity
• Improve ethical awareness• Limit risks from employees’
unethical behavior (often in spite of a code of ethical behavior)
• Create a culture that encourages doing the right thing rather than just compliance.
• Employee development is valued.
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Building Organizational Integrity
• Barriers –Unrealistic performance objectives
–Workforce demographics–State of organization–Cynicism
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Integrity and Management
• Avoid decisions that we later regret
• Tests of judgment– Publicity, trusted friend, reciprocity,
universality, obituary• One of the greatest risks of
professional life is that day-to-day pressures will lead to a gradual erosion of integrity
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Discipline of Building Character
• Challenges – choice between right and right.– Forces focus on core values– Creates basis for future
• Defining moments– Individual – Who am I?– Work Groups – Who are we?– Executives – Who is the Company?
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Defining Moments• Individual
– Conflicting feelings– Deeply rooted values
• Work Group– Points of view (other ethical viewpoints)– Influence behavior – Truth as a process
• Executive– Personal and organizational strength– Role of organization in society– Vision to reality