Business Ethics Ethical Obligation & Good Business Statement

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1.Business manager ethical obligation

2.justifying "good ethics is good business statement"

please answer the two question above. you could take the textbook as reference.

please write at least one paragraph for each question. you could use example to support your point.

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B U S I N E S S E TH I C S This page intentionally left blank BUSINESS E THICS A Stakeholder and Issues Management Approach SIXTH EDITION Joseph W. Weiss Business Ethics Copyright © 2014 by Joseph W. Weiss All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher, addressed “Attention: Permissions Coordinator,” at the address below. Berrett-Koehler Publishers, Inc. 235 Montgomery Street, Suite 650 San Francisco, California 94104-2916 Tel: (415) 288-0260, Fax: (415) 362-2512 www.bkconnection.com Ordering information for print editions Quantity sales. Special discounts are available on quantity purchases by corporations, associations, and others. For details, contact the “Special Sales Department” at the Berrett-Koehler address above. Individual sales. Berrett-Koehler publications are available through most bookstores. They can also be ordered directly from Berrett-Koehler: Tel: (800) 929-2929; Fax: (802) 8647626; www.bkconnection.com Orders for college textbook/course adoption use. Please contact Berrett-Koehler: Tel: (800) 929-2929; Fax: (802) 864-7626. Orders by U.S. trade bookstores and wholesalers. Please contact Ingram Publisher Services, Tel: (800) 509-4887; Fax: (800) 838-1149; E-mail: customer.service@ingram publisherservices.com; or visit www.ingrampublisherservices.com/Ordering for details about electronic ordering. Berrett-Koehler and the BK logo are registered trademarks of Berrett-Koehler Publishers, Inc. Sixth Edition Paperback print edition ISBN 978-1-62656-140-3 PDF e-book ISBN 978-1-62656-141-0 IDPF e-book ISBN 978-1-62656-142-7 2014-1 Book produced by: Westchester Publishing Services Cover design: Dan Tesser / pemastudio Interior illustration: Westchester Publishing Services Indexer: Robert Swanson Brief Contents Chapter 1 Business Ethics, the Changing Environment, and Stakeholder Management 1 Chapter 2 Ethical Principles, Quick Tests, and Decision-Making Guidelines 53 Chapter 3 Stakeholder and Issues Management Approaches 114 Chapter 4 The Corporation and External Stakeholders: Corporate Governance: From the Boardroom to the Marketplace 183 Chapter 5 Corporate Responsibilities, Consumer Stakeholders, and the Environment 269 Chapter 6 The Corporation and Internal Stakeholders: Values- Based Moral Leadership, Culture, Strategy, and Self-Regulation 348 Chapter 7 Employee Stakeholders and the Corporation 424 Chapter 8 Business Ethics and Stakeholder Management in the Global Environment 508 v This page intentionally left blank Contents Preface xix Acknowledgments xxv Case Authorship xxvii Chapter 1 Business Ethics, the Changing Environment, and Stakeholder Management 1 1.1 Business Ethics and the Changing Environment Seeing the “Big Picture” Point/CounterPoint 3 6 7 Environmental Forces and Stakeholders Stakeholder Management Approach 10 12 1.2 What Is Business Ethics? Why Does It Matter? 14 What Is Ethics and What Are the Areas of Ethical Theory? Unethical Business Practices and Employees Ethics and Compliance Programs 1.3 Levels of Business Ethics Asking Key Questions Ethical Insight 1.1 15 16 Why Does Ethics Matter in Business? Working for the Best Companies 14 17 18 19 20 21 1.4 Five Myths about Business Ethics 22 Myth 1: Ethics Is a Personal, Individual Affair, Not a Public or Debatable Matter 22 Myth 2: Business and Ethics Do Not Mix Myth 3: Ethics in Business Is Relative 24 24 Myth 4: Good Business Means Good Ethics 25 Myth 5: Information and Computing Are Amoral 1.5 Why Use Ethical Reasoning in Business? 26 26 1.6 Can Business Ethics Be Taught and Trained? 27 vii viii Contents 1.7 Plan of the Book 28 Chapter Summary 29 Questions 30 Exercises 31 Real-Time Ethical Dilemma Cases 32 33 1. Bernard L. Madoff Investment Securities LLC: Wall Street Trading Firm 33 2. Cyberbullying: Who’s to Blame and What Can Be Done? 42 Notes 50 Chapter 2 Ethical Principles, Quick Tests, and Decision-Making Guidelines 53 2.1 Ethical Reasoning and Moral Decision Making Three Criteria in Ethical Reasoning Moral Responsibility Criteria 54 55 2.2 Ethical Principles and Decision Making Ethical Insight 2.1 54 56 58 Utilitarianism: A Consequentialist (Results-Based) Approach 58 Universalism: A Deontological (Duty-Based) Approach 61 Rights: A Moral and Legal Entitlement-Based Approach 62 Justice: Procedures, Compensation, and Retribution 64 Virtue Ethics: Character-Based Virtues 66 The Common Good 67 Ethical Relativism: A Self-Interest Approach Immoral, Amoral, and Moral Management 2.3 Four Social Responsibility Roles 68 71 72 2.4 Levels of Ethical Reasoning and Moral Decision Making Personal Level 75 Organizational Level 78 Industry Level 79 Societal, International, and Global Levels 79 75 Contents 2.5 Identifying and Addressing Ethical Dilemmas Ethical Insight 2.2 Moral Creativity 79 81 81 Ethical Dilemma Problem Solving 12 Questions to Get Started 82 82 2.6 Individual Ethical Decision-Making Styles 84 Communicating and Negotiating across Ethical Styles 2.7 Quick Ethical Tests 85 85 2.8 Concluding Comments 86 Back to Louise Simms . . . 86 Chapter Summary 87 Questions 88 Exercises 89 Real-Time Ethical Dilemma Cases 90 91 3. Ford’s Pinto Fires: The Retrospective View of Ford’s Field Recall Coordinator 91 4. Jerome Kerviel: Rogue Trader or Misguided Employee? What Really Happened at the Société Générale? 98 5. Samuel Waksal at ImClone Notes 107 111 Chapter 3 Stakeholder and Issues Management Approaches 114 3.1 Stakeholder Theory and the Stakeholder Management Approach Defined 116 Stakeholders 118 Stakes 118 3.2 Why Use a Stakeholder Management Approach for Business Ethics? 119 Stakeholder Theory: Criticisms and Responses 3.3 How to Execute a Stakeholder Analysis 119 121 Taking a Third-Party Objective Observer Perspective Role of the CEO in Stakeholder Analysis Summary of Stakeholder Analysis 130 121 121 ix x Contents 3.4 Negotiation Methods: Resolving Stakeholder Disputes Stakeholder Dispute Resolution Methods 130 131 3.5 Stakeholder Management Approach: Using Ethical Principles and Reasoning 133 3.6 Moral Responsibilities of Cross-Functional Area Professionals 134 Marketing and Sales Professionals and Managers as Stakeholders 134 R&D, Engineering Professionals, and Managers as Stakeholders 136 Accounting and Finance Professionals and Managers as Stakeholders 137 Public Relations Managers as Stakeholders 137 Human Resource Managers as Stakeholders 138 Summary of Managerial Moral Responsibilities 138 3.7 Issues Management, Integrating a Stakeholder Framework 138 What Is an Issue? 139 Ethical Insight 3.1 139 Other Types of Issues 140 Stakeholder and Issues Management: “Connecting the Dots” 141 Moral Dimensions of Stakeholder and Issues Management Types of Issues Management Frameworks 142 3.8 Managing Crises 147 How Executives Have Responded to Crises Crisis Management Recommendations 149 151 Chapter Summary 152 Questions 153 Exercises 154 Real-Time Ethical Dilemma Cases 156 158 6. The BP Deepwater Horizon Explosion and Oil Spill: Crisis and Aftermath 158 7. Mattel Toy Recalls 164 8. Genetic Discrimination 171 Notes 178 141 Contents xi Chapter 4 The Corporation and External Stakeholders: Corporate Governance: From the Boardroom to the Marketplace 183 4.1 Managing Corporate Social Responsibility in the Marketplace Ethical Insight 4.1 185 187 Free-Market Theory and Corporate Social Responsibility Problems with the Free-Market Theory 189 Intermediaries: Bridging the Disclosure Gap Point/CounterPoint 188 190 191 4.2 Managing Corporate Responsibility with External Stakeholders The Corporation as Social and Economic Stakeholder The Social Contract: Dead or Desperately Needed? Balance between Ethical Motivation and Compliance Covenantal Ethic 193 193 194 195 196 The Moral Basis and Social Power of Corporations as Stakeholders 196 Corporate Philanthropy 197 Managing Stakeholders Profitably and Responsibly: Reputation Counts 198 Ethical Insight 4.2 198 4.3 Managing and Balancing Corporate Governance, Compliance, and Regulation 201 Ethical Insight 4.3 202 Best Corporate Board Governance Practices Sarbanes-Oxley Act 204 204 Pros and Cons of Implementing the Sarbanes- Oxley Act The Federal Sentencing Guidelines for Organizations: Compliance Incentive 208 4.4 The Role of Law and Regulatory Agencies and Corporate Compliance 211 Why Regulation? 214 Laws and U.S. Regulatory Agencies Laws Protecting Consumers 215 215 Laws Protecting the Environment 216 206 xii Contents 4.5 Managing External Issues and Crises: Lessons from the Past (Back to the Future?) 218 Chapter Summary 226 Questions 227 Exercises 228 Real-Time Ethical Dilemma Cases 229 230 9. Conscious Capitalism: What Is It? Why Do We Need It? Does It Work? 230 10. Goldman Sachs: Hedging a Bet and Defrauding Investors 246 11. Google Books 252 Notes 262 Chapter 5 Corporate Responsibilities, Consumer Stakeholders, and the Environment 269 5.1 Corporate Responsibility toward Consumer Stakeholders 271 Corporate Responsibilities and Consumer Rights Consumer Protection Agencies and Law 5.2 Corporate Responsibility in Advertising Ethics and Advertising 274 275 276 The Federal Trade Commission and Advertising Pros and Cons of Advertising Ethical Insight 5.1 272 277 277 278 Advertising and Free Speech 280 Paternalism, Manipulation, or Free Choice? 281 5.3 Controversial Issues in Advertising: The Internet, Children, Tobacco, and Alcohol 282 Advertising and the Internet 282 The Thin Line between Deceptive Advertising, Spyware, and Spam 283 Advertising to Children 285 Protecting Children 286 Tobacco Advertising 287 The Tobacco Controversy Continues 288 Contents Alcohol Advertising Ethical Insight 5.2 288 289 5.4 Managing Product Safety and Liability Responsibly 290 How Safe Is Safe? The Ethics of Product Safety Ethical Insight 5.3 xiii 290 292 Product Liability Doctrines 294 Legal and Moral Limits of Product Liability Product Safety and the Road Ahead 295 296 5.5 Corporate Responsibility and the Environment 297 The Most Significant Environmental Problems Causes of Environmental Pollution 300 Enforcement of Environmental Laws The Ethics of Ecology 297 300 301 Green Marketing, Environmental Justice, and Industrial Ecology 302 Rights of Future Generations and Right to a Livable Environment 303 Recommendations to Managers 304 Chapter Summary 305 Questions 306 Exercises 306 Real-Time Ethical Dilemma Cases 308 309 12. For-Profit Universities: Opportunities, Issues, and Promises 309 13. Fracking: Drilling for Disaster? 14. Neuromarketing 314 321 15. Wal-Mart: Challenges with Gender Discrimination 327 16. Vioxx, Dodge Ball: Did Merck Try to Avoid the Truth? Notes 333 341 Chapter 6 The Corporation and Internal Stakeholders: Values- Based Moral Leadership, Culture, Strategy, and Self-Regulation 348 6.1 Leadership and Stakeholder Management Defining Purpose, Mission, and Values 350 351 xiv Contents Ethical Insight 6.1 357 Leadership Stakeholder Competencies 358 Example of Companies Using Stakeholder Relationship Management 362 Ethical Insight 6.2 363 Spiritual Values, Practices, and Moral Courage in Leading Failure of Ethical Leadership 367 Ethical Dimensions of Leadership Styles 368 How Should CEOs as Leaders Be Evaluated and Rewarded? 371 6.2 Organizational Culture, Compliance, and Stakeholder Management 373 Organizational Culture Defined High-Ethics Companies 374 376 Weak Cultures 377 6.3 Leading and Managing Strategy and Structure Organizational Structure and Ethics 379 380 Boundaryless and Networked Organizations 382 6.4 Leading Internal Stakeholder Values in the Organization 383 6.5 Corporate Self-Regulation and Ethics Programs: Challenges and Issues 385 Ethical Insight 6.3 386 Organizations and Leaders as Moral Agents Ethics Codes 387 387 Codes of Conduct 388 Problems with Ethics and Conduct Codes Ombuds and Peer-Review Programs 389 390 Is the Organization Ready to Implement a Values-Based Stakeholder Approach? A Readiness Checklist 392 Chapter Summary 393 Questions 395 Exercises 396 Real-Time Ethical Dilemmas Cases 402 397 364 Contents 17. Kaiser Permanente: A Crisis of Communication, Values, and Systems Failure 402 18. Social Networking and Social Responsibility Notes 410 418 Chapter 7 Employee Stakeholders and the Corporation 424 7.1 Employee Stakeholders in the Changing Workforce The Aging Workforce 426 427 Generational Differences in the Workplace 427 Steps for Integrating a Multigenerational Workforce Ethical Insight 7.1 430 432 Women in the Workforce 433 Same-Sex Marriages, Civil Unions, Domestic Partnerships, and Workforce Rights 435 The Increasing Cultural Mix: Minorities Are Becoming the Majority 436 Educational Weaknesses and Gaps Point/CounterPoint 437 438 Mainstreaming Disabled Workers 440 Balancing Work and Life in Families 441 7.2 The Changing Social Contract between Corporations and Employees 442 Good Faith Principle Exception 443 Public Policy Principle Exception Implied Contract Exception 444 444 7.3 Employee and Employer Rights and Responsibilities Moral Foundation of Employee Rights 445 446 The Principle of Balance in the Employee and Employer Social Contract and the Reality of Competitive Change 446 Rights from Government Legislation 447 Employer Responsibilities to Employees 448 Employee Rights and Responsibilities to Employers Employee Rights in the Workplace 451 Other Employee Rights and Obligations to Employers Ethical Insight 7.2 455 450 454 xv xvi Contents 7.4 Discrimination, Equal Employment Opportunity, and Affirmative Action 462 Discrimination 463 Equal Employment Opportunity and the Civil Rights Act 463 Age and Discrimination in the Workplace Comparable Worth and Equal Pay Affirmative Action 464 465 465 Ethics and Affirmative Action 466 Reverse Discrimination: Arguments against Affirmative Action 467 Ethical Insight 7.3 468 7.5 Sexual Harassment in the Workplace What Is Sexual Harassment? Who Is Liable? 469 469 470 Tangible Employment Action and Vicarious Liability 471 Sexual Harassment and Foreign Firms in the United States 473 7.6 Whistle-Blowing versus Organizational Loyalty 473 When Whistle-Blowers Should Not Be Protected Factors to Consider before Blowing the Whistle 477 478 Managerial Steps to Prevent External Whistle-Blowing 479 Chapter Summary 479 Questions 480 Exercises 481 Real-Time Ethical Dilemma Cases 483 484 19. Preemployment Screening and Facebook: Ethical Considerations 484 20. Women on Wall Street: Fighting for Equality in a Male-Dominated Industry 491 Notes 499 Contents xvii Chapter 8 Business Ethics and Stakeholder Management in the Global Environment 508 8.1 The Connected Global Economy and Globalization Ethical Insight 8.1 509 510 Globalization and the Forces of Change 511 8.2 Managing and Working in a “Flat World”: Professional Competencies and Ethical Issues 515 Shared Leadership in Teams’ Competency Ethical Insight 8.2 519 520 Global Ethical Values and Principles 521 Know Your Own Cultural and Core Values, Your Organization’s, and Those with Whom You Are Working 523 Cross-Cultural Business Ethical Issues Professionals May Experience 525 8.3 Societal Issues and Globalization: The Dark Side International Crime and Corruption 533 Economic Poverty and Child Slave Labor The Global Digital Divide 535 535 Westernization (Americanization) of Cultures Loss of Nation-State Sovereignty 536 537 8.4 Multinational Enterprises as Stakeholders Power of MNEs 533 538 539 8.5 Triple Bottom Line, Social Entrepreneurship, and Microfinancing 545 The Triple Bottom Line 545 Social Entrepreneurs and Social Enterprises Microfinancing 546 546 8.6 MNEs: Stakeholder Values, Guidelines, and Codes for Managing Ethically 547 Employment Practices and Policies 548 Consumer Protection 548 Environmental Protection 548 Political Payments and Involvement 549 Basic Human Rights and Fundamental Freedoms 549 xviii Contents 8.7 Cross-Cultural Ethical Decision Making and Negotiation Methods 550 External Corporate Monitoring Groups 550 Individual Stakeholder Methods for Ethical Decision Making 551 Four Typical Styles of International Ethical Decision Making 555 Hypernorms, Local Norms, and Creative Ethical Navigation 556 Chapter Summary 557 Questions 559 Exercises 560 Real-Time Ethical Dilemmas Cases 562 564 21. Google in China: Still “Doing No Evil”? 564 22. Sweatshops: Not Only a Global Issue 570 23. The U.S. Industrial Food System Notes 582 Index 589 About the Author 615 575 Preface The sixth edition of Business Ethics: A Stakeholder and Issues Management Approach continues the mission of providing a practical, easy-to-read, engaging and contemporary text with detailed real-time contemporary and classic cases for students. This text updates the previous edition, adding fourteen new cases in addition to other new features discussed below. We continue our quest to assist colleagues and students in understanding the changing environment from combined stakeholder and issues management approaches, based on the theory and practice that firms depend on stakeholders as well as stockholders for their survival and success. Acting morally while doing business is no longer a joking or even questionable topic of discussion. With the near shutdowns of the U.S. government, the subprime lending crisis, global climate changes, the fading middle class in America and other countries, China’s continuing economic expansion, and India’s inroads into the global economy, the stakes for the global economy are not trivial. Ethical behaviors are required, not optional, for this and future generations. Learning to think and reason ethically is the fi rst step. Business ethics is concerned with doing what is right over what is wrong, while acting in helpful over harmful ways, and with seeking the common good as well as our own welfare. This text addresses this foundational way of thinking by asking why does the modern corporation exist in the fi rst place? What is its raison d’être? How does it treat its stakeholders? Business ethics engages these essential questions, and it is also about the purpose, values, and transactions of and between individuals, groups, and companies and their global alliances. Stakeholder theory and management, in par ticu lar, are what concern nonfi nancial as well as the fi nancial aspects of business behavior, policies, and actions. A stakeholder view of the fi rm complements the stockholder view and includes all parties and participants who have an interest— a stake—in the environment and society in which business operates. Students and professionals need straightforward frameworks to thoughtfully and objectively analyze and then sort through complex issues in order to make decisions that matter— ethically, econom ical ly, socially, legally, and spiritually. The United States and indeed the whole world are different after the 9/11 attacks. Terrorism is a threat to everyone, everywhere, as the Boston bombings showed. Also threatening are the ongoing corporate scandals, the consequences of the Arab Spring, security issues worldwide, immigration problems, the inequalities in income distribution and wealth, the decay of the middle classes— all of these affect graduating students and those who wish to attend a university or college but cannot afford to ...
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