MGMT 4350 Chapter Notes - Chapter 3: Relativism, Cultural Relativism, Root Mean Square
20 Sep 2017
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Sustainability: address natural, economic and social environment, concept is similar to carroll"s list of business responsibilities. %1: in order to be sustainable (successful for long period of time) must satisfy all economic, legal, ethical and discretionary responsibilities. Enterprise strategy: explicitly articulates the rm"s ethical relationship with its stakeholders: outlines which group"s interest should have priority. Stakeholder analysis: identi cation and evaluation of corporate stake holders. Step 3: estimate the e ect on each stakeholder group from any particular strategic decision: economic - consider primary, ethical - consider secondary. Moral relativism: morality is relative to some personal, social or cultural standard: there is no method for decision whether one decision is better than another, mangers often use one form of this to justify questionable behaviour. Naive relativism: all moral decisions re deeply personal and individuals have the right to run their own lives: each person should be allowed to interpret situations and acts in accordance with their own moral values.
