MANA 466 Chapter Notes - Chapter 4: Socially Responsible Investing, Deontological Ethics, Contemporary Philosophy

• School: Concordia University
• Department: Management
• Course: MANA 466
• Professor: Jisun Y U

Document Summary

Ibus 466 multinational management: a strategic approach. Managing ethical and social responsibility challenges in multinational companies. What are international business ethics and social responsibility? international business ethics differ from domestic business ethics in two ways. Primary stakeholders directly linked to a company"s survival and include customers, supplies, employees and shareholders. Second stakeholders less directly linked to company"s survival and include the media, trade associations and special interest groups. To succeed and be profitable in a socially responsible fashion, mnc managers must weight and balance the economic, legal and ethical consequences of their decisions. Two approaches to ethical decision making: traditional ethical philosophy, contemporary philosophy. Two basic systems of ethical reasoning dominate ethical philosophy: the teleological system, the deontological system. Teleological ethical theories the morality of an act or practice comes from its consequences. Most popular teleological theory is utilitarianism argues that what is good and moral comes from acts that produce the greatest good for the greatest number of people.