BUSN 311 APUS Week 6 Law and Ethics in The Business Environment Discussion
In need of (2) substantive replies of 125 words each to (2) different post. BUSN 311 Topic: W6: Business Ethics Theory in BP Oil SpillRubricsPeer replies to further the conversationStudent replied to at least two (2) classmates’ posts and each reply includes at least three (3) to four (4) sentences relating the classmate’s post to at least one (1) question/point of the Discussion Prompt.Forum Post 1:Hello Professor and Class, The ethical environment that is applicable to the business world is best described as culture accomplishments that need to have a legal and ethical agreement but also allow society to flourish (Halbert). This means that businesses will twist their boundaries in order to get more customers. China sells more to the United States even when some of their items don’t abide by our environmental laws. Another good example is California banned plastic straws but some vendors will still send a customer plastic straws, it would be considered an unethical move for a business (Halbert).In two thousand and ten Deepwater Horizon disaster occurred in the Gulf of Mexico and was the largest oil spill in world history (Kaye). Before this oil spill BP was making its way in the business world “Long before many of the world’s largest companies began paying serious attention their operations’ social and environmental impacts, BP was a trailblazer on the corporate reporting scene (Kaye)”.“Milton Freeman the University of Chicago economist and Nobel laureate. In a famous 1970 New York Times article, Friedman argued that because the CEO is an “employee” of the shareholders, he or she must act in their interest, which is to give them the highest return possible (Posner)”. This philosophy could have played a role in the BP spill by if the company was not working for the people and working for the stockholders instead they would have been able to focus more or their operations than environmental issues (Beck).On the other hand triple bottom line framework with corporate social responsibility business practice could have also changed BP’s decision to think more about people, planet and profit (Spence). This framework would have had the company more balanced than thinking only about their image to people and profits.Work CitedBeck, R. (2010, July 10). ALL BUSINESS: Once lauded, BP no corporate citizen. Retrieved December 09, 2020, from https://www.sandiegouniontribune.com/sdut-all-busi...Halbert, T., & Ingulli, E. (2008). Law & ethics in the business environment. Chapter One. (6th ed.). South-Western Pub.Posner, E. (2019, August 22). Milton Friedman got it wrong. The Atlantic. https://www.theatlantic.com/ideas/archive/2019/08/milton-friedman-shareholder-wrong/596545/ Spence, D. (2011). Corporate social responsibility in the oil and gas industry: The importance of reputational risk. Chicago-Kent Law Review, 86, 59-85. https://repositories.lib.utexas.edu/bitstream/handle/2152/40348/2011_01_01_Corporate%20_Social_Responsibility.pdf?sequence=2Forum Post 2:Good Afternoon Class,This week’s forum discussion topic has us analyzing the management of BP and the decisions that were made regarding the Gulf Oil spill and social responsibility. Given the lead to to the Deepwater Horizon disaster, BP showed trends of mishaps at other facilities worldwide. When questioned about their stance on corporate social responsibility, the company would place emphasis on financial performance. This explains the tie-in to Friedman’s philosophy with this week’s lesson. Specifically, it appears they were not so concerned with the social responsibility aspect, but instead working to appease shareholders by maximizing revenue. As described in the assigned reading, this is a mis-step on their part. Though “checking the box” of CSR if you will, the lack of importance placed on the broader responsibilities beyond shareholder relations truly hurt BP here in this crucial time window amidst disasters. Including a huge loss of trust in the company by those shareholders. To truly show BP could take into consideration environmental and social concerns surrounding their processes, committing to the triple bottom line method, and actually walking the walk could have gone a long way. Obviously, BP had the priority on profit, but a major blind spot in the planet element ultimately became apparent. Decisions by corporate to realign the company with more stringent safety and quality control standards could have been a key factor in avoiding the Deepwater Horizon incident. Though, BP projects the appearance they in-fact do care about the environment and focus on sustainability reports, it’s difficult to buy into after the history of mismanagement and global disasters.Prompt W6: Business Ethics Theory in BP Oil Spill Review the articles on the BP Gulf Oil spill and corporate social responsibility in Required Readings. In your first Forum post include the following: Explain how the philosophy of Milton Friedman could have played a role in BP management’s decision. Explain how use of the triple bottom line framework theory with CSR could have led BP to make a different decision and avoid the disaster. What would have been the corporate considerations and decision making process? WEEK 6: THE FOLLOWING IS REQUIRED READING FOR THE COURSE. THESE MATERIALS WILL ASSIST YOUR RESEARCH FOR DISCUSSIONS, EXAMS/QUIZZES, AND PAPERS.Halbert, T., & Ingulli, E. (2008). Law & ethics in the business environment. Chapter One. (6th ed.). South-Western Pub.Beginner's guide to Kant's moral philosophy. (2016, June 10). [Video File]. https://www.youtube.com/watch?v=mQ2fvTvtzBM (8.18 min., transcript provided).Philosophy - Ethics: Utilitarianism, part I. (2014, September 26). Markovits. Wireless Philosophy. [Video File].https://www.youtube.com/watch?v=uvmz5E75ZIA (4.30 min., transcript provided).Philosophy - Ethics: Utilitarianism, part 2. (2014, October 3). Markovits. Wireless Philosophy. [Video File]. https://www.youtube.com/watch?v=uGDk23Q0S9E (6.21 min., transcript provided)Philosophy - Ethics: Utilitarianism, part 3. (2015, January 23). Markovits. Wireless Philosophy. [Video File]. https://www.youtube.com/watch?v=MoCuVa9UeR4 (3.27 min., transcript provided)Downe, J., Cowell, R. & Morgan, K. (2016). What determines ethical behavior in public organizations: Is it rules or leadership? Public Administration Review 76(6), 898-909. DOI: 10.1111/puar.12562. Retrieved from https://onlinelibrary.wiley.com/doi/pdf/10.1111/puar.12562@10.1111/(ISSN)1540-6210.lessons-in-public-administrationLange, D., & Washburn, N. T. (2012). Understanding attributions of corporate social irresponsibility. Academy Of Management Review, 37(2), 300-326. doi:10.5465/amr.2010.0522. Available in University library. (Search by authors or title.)Camilleri, M. (2017, September). Corporate sustainability and responsibility: Creating value for business, society, and the environment. Asian J. of Sustainability and Social Responsibility, 2, 59-74. https://philosophia.uncg.edu/phi361-matteson/module-3-social-responsibility-professionalism-and-loyalty/corporate-social-responsibility-and-the-triple-bottom-line/IBM study: Corporate social responsibility. (2008, February 12). [Video File.] YouTube. (6.58 min., transcript provided).Micewski, E. R., & Troy, C. (2007). Business ethics - deontologically revisited. Journal of Business Ethics, 72(1), 17-25. doi:10.1007/s10551-006-9152-z. Available in University library. (Search by authors, title, or doi)Posner, E. (2019, August 22). Milton Friedman got it wrong. The Atlantic. https://www.theatlantic.com/ideas/archive/2019/08/...Spence, D. (2011). Corporate social responsibility in the oil and gas industry: The importance of reputational risk. Chicago-Kent Law Review, 86, 59-85. https://repositories.lib.utexas.edu/bitstream/handle/2152/40348/2011_01_01_Corporate%20_Social_Responsibility.pdf?sequence=2 MacMillan, C. (2016, July 12). The cost of ignoring social responsibility. http://caramacmillan.com/bp-cost-ignoring-corporate-social-responsibility-2/Verschoor, C. C. (2010). BP still hasn't learned ethical lessons. Strategic Finance, 92(2), 13-15. Available in University Library. (Search by author or title.)ADDITIONAL RECOMMENDED READING:Kaye, L. (2015, February 19). Five years after Deepwater Horizon, can BP repair its reputation? Marketing and Comms. Sustainable Brands. https://www.sustainablebrands.com/news_and_views/marketing_comms/leon_kaye/five_years_after_deepwater_horizon_can_bp_repair_its_reputaWhat is corporate social responsibility? (2019). University of Edinburgh, webpage. https://www.ed.ac.uk/careers/your-future/options/occupations/csr (NOTE: In addition to definitional explanation of CSR, consider this reading in context of modern trend of CSR in business globally.)