Social and Ethical Chapter 2 Environment of Business

HUMAN RESOURCE ISSUES l Population – – Growing population Changing population l l – Moving population l l l 2 Baby boom Baby bust Frost Belt Sun Belt Rust Belt Chapter 2 Social and Ethical Environment of Business

Population of the United States 3 Chapter 2 Social and Ethical Environment of Business

HUMAN RESOURCE ISSUES l Labor force – – – Labor participation rate Poverty Equal employment l l – 4 Glass ceiling — invisible barrier to job advancement Sticky floor syndrome — inability of workers to move up from low-paying, entry-level jobs Comparable worth — “equal pay for comparable work” Chapter 2 Social and Ethical Environment of Business

Trends in the Labor Force 5 Chapter 2 Social and Ethical Environment of Business

Societal Values l Changing American values – – l Employer responses – – – 6 Generation X Net Generation Redesigning jobs Improving health and safety Family-friendly practices, including telecommuting Chapter 2 Social and Ethical Environment of Business

Societal Values Natural resource issues l Managing the environment – l 7 Recycling — reusing products and packaging whenever possible Controlling environmental pollution Chapter 2 Social and Ethical Environment of Business

Ethics l l l 8 Ethics — standards of moral conduct that individuals and groups set for themselves, defining what behavior they value as right or wrong Business ethics — collection of principles and rules that define right and wrong conduct for an organization Code of ethics — formal, published collection of values and rules that reflect a firm’s philosophy and goals Chapter 2 Social and Ethical Environment of Business

Ethical Issues l l 9 Social responsibility — the duty of a business to contribute to the well-being of society Stakeholders — any individuals or groups affected by a firm’s actions, such as owners, customers, suppliers, employees, creditors, government, and the public Chapter 2 Social and Ethical Environment of Business