MGMT 371 1st Edition Lecture 5Outline of Last Lecture I. Building a Resumea. KSAb. Accomplishmentsc. Contact Informationd. Experiencee. Interestsf. AwardsII. InterviewsOutline of Current Lecture I. Ethics vs. MoralsII. 5 Managerial BehaviorsIII. Ethical DilemmaIV. Ethical Decision Making Processesa. Utilitarian Approachb. Individualism Approachc. Moral-Rights Approachd. Justice ApproachV. Factors contributing to ethical differencesa. Levels of moral developmentVI. Evaluating Corporate Social ResponsibilityVII. Achieving Ethical and Socially Responsible OrganizationCurrent LectureChapter 5 - Ethics- Ethics: moral obligations, separating right from wrong, group guidelines, institution behavioro Group guidelines develop when you start preschool- Morals: Individual’s determination of right and wrong, influenced by individual’s valueso Morals came first because they vary based on individualso Moral development begins when someone tells you “No”- 5 Ethical Managerial Behaviorso Be honest, trustworthy, and have integrity in dealings with otherso Pay attention to all stakeholdersThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute. Stakeholder: someone who has invested in the decisions and actions of the companyo Build Communityo Respect individualso Accomplish silent victories Silent victories: you don’t look for praise- Ethical Dilemma: a situation that arises when all alternative choices on behaviors are deemed undesirable because of potentially negative consequences, making it difficult to distinguish right from wrong- Ethical Decision Making Approacheso Utilitarian Approach: considers the greatest good for the greatest number of peopleo Individualism Approach: promotes individual’s best long term interesto Moral-Rights Approach: maintains people’s rightso Justice Approach: based on standards of equity, fairness, and impartiality- Factors contributing to ethical differenceso Level of greed, gluttony (over indulgence in food), and avarice (greed for money)o Level of moral development Preconventional: motivated by whether you receive rewards and avoid punishment Conventional: conformity to expectations of good behavior Postconventional: internalized principles, do things based on the most good for the most peopleo Current situation  depends on the situation- Evaluating corporate social responsibilityo Economic responsibility: profitabilityo Legal responsibility: obey the laws and regulations and societies determination ofright and wrongo Ethical responsibility: obligation to do what is righto Philanthropic responsibility: be a good corporate citizen- Achieving ethical and socially responsible organizationo Lead by exampleo Codes of ethical conduct  ex. Carolina Creed, Honor Codeo Deal with ethical problems  immediately o Accept whistleblowers  whistleblowers are people who bring attention to a problem, they bring issues to people higher up in the company then go to the press if necessaryo Ethics and social responsibility training  should happen at least once a year, or