{"id":44,"date":"2018-09-24T14:22:55","date_gmt":"2018-09-24T14:22:55","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/suny-osintrobus\/chapter\/introduction-2\/"},"modified":"2018-09-26T16:22:26","modified_gmt":"2018-09-26T16:22:26","slug":"introduction-2","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-herkimer-osintrobus\/chapter\/introduction-2\/","title":{"raw":"Introduction","rendered":"Introduction"},"content":{"raw":"
\r\n<\/span><\/span>\r\n\r\n[caption id=\"\" align=\"aligncenter\" width=\"1750\"]\"A Exhibit 2.1<\/strong>[\/caption]\r\n\r\n<\/div>\r\n
\r\n
\r\n

Learning Outcomes<\/h3>\r\n

After reading this chapter, you should be able to answer these questions:<\/strong><\/p>\r\n\r\n

    \r\n \t
  1. What philosophies and concepts shape personal ethical standards?<\/li>\r\n \t
  2. How can organizations encourage ethical business behavior?<\/li>\r\n \t
  3. What is corporate social responsibility?<\/li>\r\n \t
  4. How do businesses meet their social responsibilities to various stakeholders?<\/li>\r\n \t
  5. What are the trends in ethics and corporate social responsibility?<\/li>\r\n<\/ol>\r\n<\/div>\r\n
    \r\n
    \r\n

    Exploring Business Careers<\/h3>\r\nPlaying with a Purpose at Hasbro<\/span><\/strong>\r\n\r\n<\/div>\r\n
    \r\n

    Hasbro is a global play and entertainment company that takes corporate social responsibility (CSR) very seriously. Founded nearly a century ago in Rhode Island, Hasbro<\/span> integrates its CSR efforts throughout the organization with the goal of helping to make the world a better place for children of all ages.<\/p>\r\n

    In 2017, the company achieved the number one spot in the \u201c100 Best Corporate Citizens\u201d rankings, published annually by Corporate Responsibility<\/em> magazine. Hasbro is no stranger to this achievement; over the past five years, Hasbro has consistently been in the top five spots on this prestigious list\u2014and that is no accident.<\/p>\r\n\r\n

    \r\n
    <\/div>\r\n\r\n[caption id=\"\" align=\"aligncenter\" width=\"1950\"]\"\" Exhibit 2.2 Hasbro\u2019s Monopoly game<\/strong> (Credit: Ben Tsai\/ Flickr\/ Public Domain)[\/caption]\r\n\r\n<\/div>\r\n

    With more than 5,000 employees, Hasbro<\/span> relies heavily on its strategic brand blueprint to guide its efforts in CSR, innovation, philanthropy, and product development. With a business portfolio that includes such well-known brands as Nerf, Play-Doh, Transformers, Monopoly, and The Game of Life, the company focuses its CSR efforts on four key areas: product safety, environmental sustainability, human rights and ethical sourcing, and community.<\/p>\r\n

    According to the company, product safety is its highest priority. Hasbro uses a five-step quality assurance process that starts with design and then moves to engineering, manufacturing, and packaging. Another key part of product safety at Hasbro<\/span> is incorporating continuous feedback from both consumers and retailers and insisting that these high standards and quality processes apply to all third-party factories worldwide that manufacture its products.<\/p>\r\n

    Hasbro<\/span> is also committed to finding new ways to reduce its environmental footprint. Over the past several years, the company has reduced energy consumption, cut greenhouse gas emissions, and reduced water consumption and waste production in its production facilities. In addition, Hasbro has totally eliminated the use of wire ties in all of its product packaging, saving more than 34,000<\/em> miles of wire ties\u2014more than enough to wrap around the earth\u2019s circumference.<\/p>\r\n

    Human rights and ethical sourcing remains a key ingredient of Hasbro<\/span>\u2019s CSR success. Treating people fairly is a core company value, as is working diligently to make great strides in diversity and inclusion at all levels of the organization. Company personnel work closely with third-party factories to ensure that the human rights of all workers in the Hasbro<\/span> global supply chain are recognized and upheld.<\/p>\r\n

    Philanthropy, corporate giving, and employee volunteering are key components of the Hasbro<\/span> community. Through its various charitable programs, Hasbro<\/span> made close to $15 million in financial contributions and product donations in 2016, which reached close to an estimated 4 million children around the globe. Several years ago the company started an annual Global Day of Joy as a way of engaging its employees worldwide in community service. In a recent year, more than 93 percent of Hasbro<\/span>\u2019s employees participated in service projects in more than 40 countries.<\/p>\r\n

    Hasbro<\/span> is in the business of storytelling, and its CSR efforts tell the story of an ethical, responsible organization whose mission is to create the world\u2019s best play experiences. Its ability to be accountable for its actions and to help make the world a better place one experience at time continues to make it a highly successful company.<\/p>\r\n

    Sources: Brian Goldner, \u201cWho Are You Really?\u2014Brian Goldner, President & CEO for Hasbro, Inc.,\u201d http:\/\/insights.ethisphere.com, accessed June 29, 2017; \u201cCSR Fact Sheet,\u201d https:\/\/csr.hasbro.com, accessed June 23, 2017; \u201cThe World\u2019s Biggest Public Companies: Hasbro,\u201d Forbes,<\/em> https:\/\/www.forbes.com, accessed June 23, 2017; \u201c2016 Global Philanthropy & Social Impact,\u201d https:\/\/csr.hasbro.com, accessed June 23, 2017; Elizabeth Gurdus, \u201cHasbro CEO Reveals the Magic Behind the Toymaker\u2019s Earnings Beat,\u201d CNBC,<\/em> http:\/\/www.cnbc.com, April 24, 2017; Jade Burke, \u201cHasbro Reaches Top Spot in CSR Listing,\u201d Toy News,<\/em> http:\/\/www.toynews-online.biz, April 21, 2017; Kathrin Belliveau, \u201cCSR at Hasbro: What It Means to Play with Purpose,\u201d LinkedIn,<\/em> https:\/\/www.linkedin.com, April 20, 2017.<\/p>\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n

    Every day, managers and business owners make business decisions based on what they believe to be right and wrong. Through their actions, they demonstrate to their employees what is and is not acceptable behavior and shape the moral standard of the organization. As you will see in this module, personal and professional ethics are important cornerstones of an organization and shape its ultimate contributions to society in the form of corporate social responsibility. First, let\u2019s consider how individual business ethics are formed.<\/p>","rendered":"


    \n<\/span><\/span><\/p>\n
    \"A<\/p>\n

    Exhibit 2.1<\/strong><\/p>\n<\/div>\n<\/div>\n

    \n
    \n

    Learning Outcomes<\/h3>\n

    After reading this chapter, you should be able to answer these questions:<\/strong><\/p>\n

      \n
    1. What philosophies and concepts shape personal ethical standards?<\/li>\n
    2. How can organizations encourage ethical business behavior?<\/li>\n
    3. What is corporate social responsibility?<\/li>\n
    4. How do businesses meet their social responsibilities to various stakeholders?<\/li>\n
    5. What are the trends in ethics and corporate social responsibility?<\/li>\n<\/ol>\n<\/div>\n
      \n
      \n

      Exploring Business Careers<\/h3>\n

      Playing with a Purpose at Hasbro<\/span><\/strong><\/p>\n<\/div>\n

      \n

      Hasbro is a global play and entertainment company that takes corporate social responsibility (CSR) very seriously. Founded nearly a century ago in Rhode Island, Hasbro<\/span> integrates its CSR efforts throughout the organization with the goal of helping to make the world a better place for children of all ages.<\/p>\n

      In 2017, the company achieved the number one spot in the \u201c100 Best Corporate Citizens\u201d rankings, published annually by Corporate Responsibility<\/em> magazine. Hasbro is no stranger to this achievement; over the past five years, Hasbro has consistently been in the top five spots on this prestigious list\u2014and that is no accident.<\/p>\n

      \n
      <\/div>\n
      \"\"<\/p>\n

      Exhibit 2.2 Hasbro\u2019s Monopoly game<\/strong> (Credit: Ben Tsai\/ Flickr\/ Public Domain)<\/p>\n<\/div>\n<\/div>\n

      With more than 5,000 employees, Hasbro<\/span> relies heavily on its strategic brand blueprint to guide its efforts in CSR, innovation, philanthropy, and product development. With a business portfolio that includes such well-known brands as Nerf, Play-Doh, Transformers, Monopoly, and The Game of Life, the company focuses its CSR efforts on four key areas: product safety, environmental sustainability, human rights and ethical sourcing, and community.<\/p>\n

      According to the company, product safety is its highest priority. Hasbro uses a five-step quality assurance process that starts with design and then moves to engineering, manufacturing, and packaging. Another key part of product safety at Hasbro<\/span> is incorporating continuous feedback from both consumers and retailers and insisting that these high standards and quality processes apply to all third-party factories worldwide that manufacture its products.<\/p>\n

      Hasbro<\/span> is also committed to finding new ways to reduce its environmental footprint. Over the past several years, the company has reduced energy consumption, cut greenhouse gas emissions, and reduced water consumption and waste production in its production facilities. In addition, Hasbro has totally eliminated the use of wire ties in all of its product packaging, saving more than 34,000<\/em> miles of wire ties\u2014more than enough to wrap around the earth\u2019s circumference.<\/p>\n

      Human rights and ethical sourcing remains a key ingredient of Hasbro<\/span>\u2019s CSR success. Treating people fairly is a core company value, as is working diligently to make great strides in diversity and inclusion at all levels of the organization. Company personnel work closely with third-party factories to ensure that the human rights of all workers in the Hasbro<\/span> global supply chain are recognized and upheld.<\/p>\n

      Philanthropy, corporate giving, and employee volunteering are key components of the Hasbro<\/span> community. Through its various charitable programs, Hasbro<\/span> made close to $15 million in financial contributions and product donations in 2016, which reached close to an estimated 4 million children around the globe. Several years ago the company started an annual Global Day of Joy as a way of engaging its employees worldwide in community service. In a recent year, more than 93 percent of Hasbro<\/span>\u2019s employees participated in service projects in more than 40 countries.<\/p>\n

      Hasbro<\/span> is in the business of storytelling, and its CSR efforts tell the story of an ethical, responsible organization whose mission is to create the world\u2019s best play experiences. Its ability to be accountable for its actions and to help make the world a better place one experience at time continues to make it a highly successful company.<\/p>\n

      Sources: Brian Goldner, \u201cWho Are You Really?\u2014Brian Goldner, President & CEO for Hasbro, Inc.,\u201d http:\/\/insights.ethisphere.com, accessed June 29, 2017; \u201cCSR Fact Sheet,\u201d https:\/\/csr.hasbro.com, accessed June 23, 2017; \u201cThe World\u2019s Biggest Public Companies: Hasbro,\u201d Forbes,<\/em> https:\/\/www.forbes.com, accessed June 23, 2017; \u201c2016 Global Philanthropy & Social Impact,\u201d https:\/\/csr.hasbro.com, accessed June 23, 2017; Elizabeth Gurdus, \u201cHasbro CEO Reveals the Magic Behind the Toymaker\u2019s Earnings Beat,\u201d CNBC,<\/em> http:\/\/www.cnbc.com, April 24, 2017; Jade Burke, \u201cHasbro Reaches Top Spot in CSR Listing,\u201d Toy News,<\/em> http:\/\/www.toynews-online.biz, April 21, 2017; Kathrin Belliveau, \u201cCSR at Hasbro: What It Means to Play with Purpose,\u201d LinkedIn,<\/em> https:\/\/www.linkedin.com, April 20, 2017.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

      Every day, managers and business owners make business decisions based on what they believe to be right and wrong. Through their actions, they demonstrate to their employees what is and is not acceptable behavior and shape the moral standard of the organization. As you will see in this module, personal and professional ethics are important cornerstones of an organization and shape its ultimate contributions to society in the form of corporate social responsibility. First, let\u2019s consider how individual business ethics are formed.<\/p>\n\n\t\t\t

      \n\t\t\t

      Candela Citations<\/h3>\n\t\t\t\t\t
      \n\t\t\t\t\t\t
      \n\t\t\t\t\t\t\t
      CC licensed content, Shared previously<\/div>