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right and wrong conduct. ? Four Views of Ethics ?The utilitarian view ?The rights view ?The theory of justice view ?The integrative social contracts theory Copyright 169。 2020 Prentice Hall, Inc. All rights reserved. 5–10 Does Social Responsibility Pay? ? Studies appear to show a positive relationship between social involvement and the economic performance of firms. ?Difficulties in defining and measuring ―social responsibility‖ and ―economic performance raise issues of validity and causation in the studies. ?Mutual funds use social screening in investment decision slightly outperformed other mutual funds. ? A general conclusion is that a firm’s social actions do not harm its longterm performance. Copyright 169。 2020 Prentice Hall, Inc. All rights reserved. 5–6 L E A R N I N G O U T L I N E (cont’d) Follow this Learning Outline as you read and study this chapter. Managerial Ethics ? Explain the challenges of international ethics. ? Discuss the seven suggestions for improving ethical behavior. ? Tell what codes of ethics are an how their effectiveness can be improved. ? Describe the important roles managers play in encouraging ethical behavior. Social Responsibility and Ethics in Today’s World ? Explain why ethical leadership is important. ? Describe how managers can provide ethical leadership. Copyright 169。 2020 Prentice Hall, Inc. All rights reserved. 5–2 L E A R N I N G O U T L I N E Follow this Learning Outline as you read and study this chapter. What is Social Responsibility ? Contrast the classical and socioeconomic views of social responsibility. ? Discuss the role that stakeholders play in the four stages of social responsibility. ? List and explain the arguments for and against social responsibility. ? Differentiate between social obligation, social responsiveness, and social responsibility. Social Responsibility and Economic Performance ? Explain what research studies have shown about the relationship between an organization’s social involvement and its economic performance. Copyright 169。 2020 Prentice Hall, Inc. All rights reserved. Copyright 169。 2020 Prentice Hall, Inc. All rights reserved. 5–5 L E A R N I N G O U T L I N E (cont’d) Follow this Learning Outline as you read and study this chapter. Managerial Ethics ? Define ethics. ? Contrast the four views of ethics. ? Discuss the factors that affect ethical and uhical behavior. ? Describe the three levels of moral development. ? Define values, ego strength, and locus of control. ? Explain the structural variables and organizational culture variab