The comparative seriousness of business law and business ethics gives some business people the impression that there is nothing important in business ethics. The costly penalties of illegal conduct compared to the uncertain consequences of unethical conduct support a common illusion that business ethics is much less important than law for business people. To dispel the illusion I distinguish two perspectives from which we can view the relation of business and (...) normative systems: the internal and external perspectives. I show that in one perspective, ethics is hardly less important than law, and in the other perspective it is more important, more fundamental than law. I conclude with a discussion of why business persons must place ethical and legal rules ahead of profits. (shrink)

Henry Hansmann has claimed we have reached the “end of history” in corporate law, organized around the “widespread normative consensus that corporate managers should act exclusively in the economic interests of shareholders.” In this paper, I examine Hansmann’s own argument in support of this view, in order to draw out its implications for some of the traditional concerns of business ethicists about corporate social responsibility. The centerpiece of Hansmann’s argument is the claim that ownership of the firm is most (...) naturally exercised by the group able to achieve the lowest agency costs, and that homogeneity of interest within the ownership group is the most important factor in achieving lower costs. He defends this claim through a study of cooperatives, attempting to show that homogeneity is the source of the competitive advantage most often enjoyed by shareholders over other constituency groups, such as workers, suppliers and customers, when it comes to exercising control over the firm. Some business ethicists, impressed by this argument, have taken it to be a vindication of Milton Friedman’s claim that profit-maximization is the only “social responsibility” of management. I would like to suggest that this conclusion does not follow, and that the “Hansmann argument” lends itself to a less minimalist view, what I refer to as a “market failures” approach to business ethics. (shrink)

This book contains the Rockwell Lectures delivered at Rice University in February, 1989. What should a business firm do when its activities are within the law, yet potentially harmful? Each of the lectures is built around a case, reflecting the ethical dilemma faced by business managers when doing more than the law requires, which may mean substantial loss of profit. With the issue of dial-a-porn, telephone companies were faced with conflicting interests of protecting children against harm, preserving free (...) speech, and profit. In a property sales case, a potential flooding problem could result in substantial financial loss to the purchaser and damage to condominiums. In a case where the complete bid of a competitor had been obtained and the law was murky, winning a contract was pitted against fairness and honesty. (shrink)

This book focuses on two central debates:how to introduce higher ethical standardshow to regulate business activity and prosecute offenders The authors bring ...

Part one: Overview of business ethics. Understanding business ethics -- Laying a foundation: ethical decision making, social responsibility, corporate governance, stakeholders and activism, and sustainability -- part two: Individual influences on business ethics. Why good people do bad things -- Individual factors that influence your ethics-based thoughts and actions -- Common ethical challenges and how to handle them -- Common organizational practices with ethics implications -- The double-edged sword of leadership and (...) class='Hi'>business ethics -- part three: Organizational influences on business ethics. Organizational culture and business ethics -- The role of laws, codes, and training in business ethics -- Doing well by doing good -- part four: Global business ethics issues. A global perspective of business ethics -- Environmental sustainability issues at home and abroad -- The role of business in social justice and change -- Case study: The cause, effect, and impace of Amazon. (shrink)

A concept for teaching business ethics and its relationship with business law is developed. Legal regulations form the essential boundaries of the business game. Many students do not realize the degree to which law is dependent upon ethical actors to achieve its objectives. At least three examples are insightful in this regard: First, the interpretive requirements of legal rules often rely on the ethical character of the interpreting business actor to achieve their objectives. Second, law (...) does not prohibit harms from occurring, it only associates costs with behaviors. Third, law cannot compensate society for non-fungible harms. Legal regulations do not sustain the orderly function of society without ethical business actors. (shrink)

The new business opportunities and prospects emerging in Europe within the Common Market and other Western and European countries also raise important ethical challenges. This work comprises a collection of ethical insights to enhance the conduct of business in an evolving Europe.

_Business Ethics and the Natural Environment_ examines the present status of relations between corporate enterprise and the natural environment in the world today. •Discusses such questions as: What obligations does a corporation have toward the environment? To respect entities unprotected by law? To care about future generations? •Argues that environmentally-friendly business practices yield dividends exceeding expectations, and that the competitive firm of the 21st century will follow “green” standards •Provides a background in ethics, a survey of (...) class='Hi'>business ethics, an account of environmental philosophy, an overview of environmental legal issues, and an account of the problems associated with globalization. (shrink)

_Business Ethics and the Natural Environment_ examines the present status of relations between corporate enterprise and the natural environment in the world today. •Discusses such questions as: What obligations does a corporation have toward the environment? To respect entities unprotected by law? To care about future generations? •Argues that environmentally-friendly business practices yield dividends exceeding expectations, and that the competitive firm of the 21st century will follow “green” standards •Provides a background in ethics, a survey of (...) class='Hi'>business ethics, an account of environmental philosophy, an overview of environmental legal issues, and an account of the problems associated with globalization. (shrink)

Abstract: Stakeholder theorists have typically offered both a business case and an ethics case for business ethics. I evaluate arguments for both approaches and find them wanting. I then shift the focus from ethics to law and ask: “Why should corporations obey the law?” Contrary to what shareholder theories typically imply, neoclassical or profit maximization theories of the firm can offer answers based only on instrumental justifications. Instrumental justifications for obeying the law, however, are pragmatically (...) and normatively incoherent. This is because the modern corporation is a legal artifact. It exists because communities create the legal framework necessary for its existence. Individual corporations can therefore be said to owe their existence to a partnership (what might be called a social contract) between shareholders and governments, a partnership that is itself built on the shared though often implicit understanding that corporations have an unconditional (categorical) obligation both to obey the law and to treat their stakeholders ethically while generating wealth for their shareholders. (shrink)

Can business be a moral enterprise? -- Employee rights and responsibilities : the internal constituencies of business -- Customers, community, and world : the external constituencies of business.

The integration of personalism into business ethics has been recently studied. Research has also been conducted on humanistic management approaches. The conceptual relationship between personalism and humanism , however, has not been fully addressed. This article furthers that research by arguing that a true humanistic management is personalistic. Moreover, it claims that personalism is promising as a sound philosophical foundation for business ethics. Insights from Jacques Maritain’s work are discussed in support of these conclusions. Of particular (...) interest is his distinction between human person and individual based on a realistic metaphysics that, in turn, grounds human dignity and the natural law as the philosophical basis for human rights, personal virtues, and a common good defined in terms of properly human ends. Although Maritain is widely regarded as one of the foremost twentieth century personalist philosophers, his contribution has not been sufficiently considered in the business ethics and humanistic management literature. Important implications of Maritainian personalism for business ethics as philosophical study and as practical professional pursuit are discussed. (shrink)

The future of the free market depends on fair, honest business practices. Business Ethics: Contemporary Issues and Cases aims to deepen students’ knowledge of ethical principles, corporate social responsibility, and decision-making in all aspects of business. The text presents an innovative approach to ethical reasoning grounded in moral philosophy. Focusing on corporate purpose—creating economic value, complying with laws and regulations, and observing ethical standards—a decision-making framework is presented based upon Duties-Rights-Justice. Over 40 real-world case studies allow (...) students to grapple with a wide range of moral issues related to personal integrity, corporate values, and global capitalism. Richard A. Spinello delves into the most pressing issues confronting businesses today including sexual harassment in the workplace, cybersecurity, privacy, and environmental justice. (shrink)

Many business ethicists assume that if a type of conduct is illegal, then it is also unethical. This article scrutinizes that assumption, using the rideshare company Uber’s illegal operation in the city of Philadelphia as a case study. I argue that Uber’s unlawful conduct was permissible. I also argue that this position is not an extreme one: it is consistent with a variety of theoretical commitments in the analytic philosophical tradition regarding political obligation. I conclude by showing why (...) class='Hi'>business ethicists would have a better rejoinder to the “dominant view” of business ethics associated with Milton Friedman if they dispensed with the assumption that illegal implies unethical. (shrink)

During the current financial crisis, the need for an alternative to a laissez-faire ethics of capitalism (the Milton Friedman view) becomes clear. I argue that we need an order ethics which employs economics as a key theoretical resource and which focuses on institutions for implementing moral norms. -/- I will point to some aspects of order ethics which highlight the importance of rules, e.g. global rules for the financial markets. In this regard, order ethics (“Ordnungsethik”) is (...) the complement of the German conception of “Ordnungspolitik” which also stresses the importance of a regulatory framework. This framework is needed not to tame the market, but to make it more profitable in the long run. -/- The conception of order ethics relies heavily on contractarianism, especially on James Buchanan’s work. Unlike many other conceptions of ethics, it does not start with an aim to achieve, but rather with an account of what the social world – in which ethical norms have to be implemented – is like. Our social world is different from the pre-modern one. Pre-modern societies played zero-sum games in which people could only gain significantly at the expense of others. And the types of ethics that we are still used to today have been developed within these pre-modern societies. -/- Modern societies, by contrast, can be characterised – by economists and other social theorists alike – as societies with continuous growth. This growth has only been made possible by the modern competitive market economy which enables everyone to pursue his own interests within a carefully devised institutional system. In this system, positive sum games are played, which makes it in principle possible to improve the position of every individual at the same time. Most kinds of ethics, however, resulting from the conditions of pre-modern societies, ignore the possibility of win-win-situations and instead require us to be moderate, to share, to sacrifice, as this would have been functional in zero-sum games. These conceptions distinguish – in more or less strict ways – between self-interest and altruistic motivation. Self-interest, more often than not, is ultimately seen as something evil. -/- Such an ethics cannot be functional in modern societies. Ethical concepts lag behind. Within zero-sum games, it was necessary to call for temperance, for moderate profits, or for a condemnation of lending money at interest. Within positive-sum games, however, the morally desired result of a social process cannot be brought about by changes in motivation, by switching from ‘egoistic’ to ‘altruistic’ motivation. The second theoretical element introduced by order ethics is the distinction between actions and rules, which was already mentioned. Traditional ethics concerns actions: It calls directly for changes in behaviour. This is a consequence of pre-modern conditions as reconstructed before: People in the pre-modern world were only able to control their actions, not so much however the conditions of their actions. In particular, rules like laws, constitutions, social structures, the market order, and also ethical norms have remained stable for centuries. In modern societies, this situation has changed entirely. The rules governing our actions have increasingly come under our control. -/- In this situation, ethics has to focus on rules. Morality must be incorporated in incentive-compatible rules. Direct calls for changes in behaviour without changes in the rules lead only to an erosion of compliance with moral norms. Individuals that continue to behave ‘morally’ will be singled out, because the incentives have not been changed. Moral norms which are to be justified cannot require people to abstain from pursuing their own advantage. People abstain from taking ‘immoral’ advantages only if adherence to ethical norms yields greater benefits over the planned sequence of actions than defection in the single case. Thus ‘abstaining’ is not abstaining in the long run, it is rather an investment in expectations of long-term benefits. By adhering to ethical norms, I become a reliable partner for interactions. The norms do indeed constrain my actions, but they simultaneously expand my options in interactions. And people consent to rules only if these rules hold greater advantages for them, at least in the long run. -/- In general, ethics cannot require people to abandon their individual calculation of advantages. However, it may suggest improving one’s calculation, by calculating in the long run rather than in the short run, and by taking into account the interests of our fellows, as we depend on their acceptance for reaching an optimal level of well-being, especially in a globalized world full of interdependence. -/- The problem of implementation can now be placed at the beginning of a conception of order ethics, justified with reference to the conditions of modern societies I have sketched. Under the conditions of pre-modern societies, an ethics of temperance had evolved that posed simultaneously the problems of implementation and justification. The implementation of well-justified norms or standards could then be regarded as unproblematic, because the social structures allowed for a direct face-to-face enforcement of norms. Pre-modern societies not only favored an ethics of temperance, they also had the instrument of face-to-face-sanctions within their smaller and non-anonymous communities. This instrument is no longer functional in modern anonymous societies, and so we have to face up to the problem of implementation right at the start of our ethical conception. Simultaneously, an order ethics relies on the implementation of sanctions for enforcing incentive-compatible rules. In modern societies, rules and institutions, to a large extent, must fulfil the tasks that were, in pre-modern times, fulfilled by moral norms, which in turn were sanctioned by face-to-face sanctions. Norm implementation in modern societies thus works by setting adequate incentives in order to prevent the erosion of moral norms, which would happen if ‘moral’ actors were systematically threatened with exploitation by other, less ‘moral’ actors. -/- This conception of order ethics is then elaborated further in the area of business ethics. -/- . (shrink)

According to the Finnish Penal Code a corporation may be sentenced to a corporate fine if a person who is part of its statutory organ or other management or who exercises actual decision-making authority therein 1) has been an accomplice in an offence or allowed the commission of the offence, or 2) if the care and diligence necessary for the prevention of the offence has not been observed in the operations of the corporation. Criminal liability of legal persons is based (...) on the intentional or negligent acts of individuals who are in a certain relationship with the corporation. The Finnish legal doctrine clearly rejects the identification theory according to which an individual is considered as acting not for a company but as a company. According to Finnish scholarly writings, the acts of an individual offender could be attributed to the legal person under certain conditions not as acts of the legal person but as acts of the individual for the company. Nonetheless, Finnish law does not abandon the fault requirement. In this respect, Finnish law differs from the traditional common law theory of vicarious liability. (shrink)

Machine generated contents note: CHAPTER 1 HEALTH CARE PROFESSIONALS AND HIV: The Duty To WarnI -- CHAPTER 2 EMERGENCY CARE AND HIV: Treatment Policy and -- Pracice17 -- CHAPTER 3 A REVOLUTIONARY POLICY? Mandatory Disclosure of HIV -- Serostaus29 -- CHAPTER 4 MINORS AND HEALTH CARE: The Limits of Consent and -- Confidentiality39 -- CHAPTER 5 THE RIGHTS TO REFUSE AND DEMAND MEDICAL -- TREATMENT: The Bounds ofAutonomy andFutli{y47 -- CHAPTER 6 RELIGIOUS FREEDOM AND THE RIGHT TO REFUSE CARE: -- (...) What Are The Limits?65 -- CHAPTER 7 ASSISTED REPRODUCTIVE TECHNOLOGY: The Business of -- Making Babies 89 -- CHAPTER 8 TWINS AND TRANSPLANTS: Choosing Who Lives 113 -- CHAPTER 9 FREE ABORTION SERVICES AND FETAL TISSUE RESEARCH: -- Freedom of Choice and Coercion123 -- CHAPTER 10 PROPERTY RIGHTS, BODY PARTS, AND REPRODUCTION: -- Who Owns the Human Body? - 139 -- CHAPTER 11 OUTBREAK IN AMERICA: The Policy of Public Verses Private -- Interests 153 -- APPENDIX A CONFIDENTIALITY OF HIV TEST RESULTS: California Health -- and Safety Code Sections 120975 Through 121020169 -- APPENDIX B HEALTH CARE PROFESSIONALS AND HIV: Texas Health and -- Safety Code Section 58.204 175 -- APPENDIX C TARASOFF v, THE REGENTS OF THE UNIVERSITY OF -- CALIFORNIA: Supreme Court of California177 -- APPENDIX D THE RIGHTS OF MINORS TO CONSENT TO HEALTH CARE: -- California Family Code Sections 6903 Through 6929183 -- APPENDIX E FEDERAL DRUG AND ALCOHOL ABUSE CONFIDENTIALITY -- REGULATIONS: Title 42 Code of Federal Regulations Part 2 187 -- APPENDIX F CHILD ABUSE REPORTING LAWS: Caitfornia Penal Code -- Sections 11164 Through 11166 193. (shrink)

The name "School of Salamanca" refers to a group of theologians and natural law philosophers who taught in the University of Salamanca, following the inspiration of the great Thomist Francisco de Vitoria. It turns out that the Scholastics were not simply medieval, but began in the 13th century and expanded through the 16th and 17th centuries; and they developed some original theories about economics and international law.Why should a few men mainly interested in theology and ethics apply themselves in (...) analyzing issues so far from their worries? The answer leads us to a revision of the morality rules, due to the new problems in business ethics. Thus, for example, the appearance of inflation made them have doubts about the merchant's morality. In order to solve this and other problems, they began to analyze the new and suspicious economic activity. As a result of their observations about ethical issues they discovered some advanced theories for the history of economic thought, such as the early formulation of the quantity theory of money. (shrink)

Institute a proactive reputational management framework that matches individual behaviour to organizational values The Business Ethics Twin-Track is a practical guide to reputational risk management. A deep exploration of the concept of reputation, the ways in which it can suffer, and the consequences when it does, the book outlines an ethics controls framework that can mitigate risk and improve business performance. Readers will learn how to identify and manage weaknesses, and how to institute a system of (...) governance that embeds proper, ethical conduct into the corporate culture. A clear set of controls and procedures provides actionable instruction that can be customised to suit the organisational structure, and discussion of historical and international ethics provides the context for implementation. Case studies illustrate the real-world applications, while interviews with executives from a variety of sectors provide important practical insights into some of the key issues discussed in the book. The law regulates behaviour in health and safety and financial crime, but otherwise, conduct is largely determined by the culture, ethics and values of an organisation. Effective reputation management is complex, and often difficult to achieve, as much of the available information on the topic is more theoretical than practical. This book bridges the gap by providing the tools that will help managers to: Implement a modern ethics control framework, encompassing codes, officers, reporting lines and training Consider the role of the media and social media in reputational damage to individuals and organisations Analyse the key controls in responsibility and governance frameworks from around the world Determine the causes and controls of conduct risk, including incompetence, negligence and criminality Today's fast-paced media environment means corporate reputations can be obliterated in moments, and damage limitation is often too little, too late. Adopting the measures set out in this book will embed ethics into the culture, and match people's behaviours to the organisation's values. (shrink)

Tokenistic short-term economic success is not good indicia of long-term success. Sustainable business success requires sustained existence in a corporation's political, economic, social, technological, legal and environmental contexts. Far beyond the traditional economic focus, consumers, governments and public interest groups alike increasingly expect the business sector to take on more social and environmental responsibilities. Corporate social responsibility (CSR) is the model in which economic, social and environmental responsibilities are fulfilled simultaneously. However, there is insufficient empirical evidence that demonstrates (...) genuine widespread adoption of CSR in practice, and its underlying reasons. Though research in CSR has been rapidly growing, its commercial reality and implications need to be further improved if it is to inspire corporations to voluntarily adopt CSR. In the literature, Carroll's four-dimensional (economic, legal, ethical and discretionary) CSR framework offers a theoretical basis for developing an empirically based model to explain why and how profit-motivated managers take up CSR voluntarily. Our study has developed a structural equation model to identify the key factors and their interactions that influence economically motivated managers to take on voluntary CSR, and validate Carroll's four-dimensional construct. The results support Carroll's four-dimensional CSR framework, with the exception of the link pertaining to the relationship between economic and discretionary/voluntary responsibility. This characterises the economic reality that financial market-driven economic responsibility does not automatically translate into social responsibility. Nevertheless, the empirical results demonstrate that corporations can be led to engage in more voluntary CSR activities to achieve social good when appropriate legal and ethical controls are in place. (shrink)

The role of ethics in business -- Business in society : beyond the market and laws? -- Cultural diversity and international standards for business -- Ethics, at the core of the human action -- Individual responsibility and moral judgments in business -- Frequent ethical issues in business -- The purpose of the firm and mision-driven management -- Use and misuse of power -- Human virtues in leadership of organizations -- Ethics in organizational (...) cultures and structures. (shrink)

This paper is a response to a recent colloquy among Professors David Messick, Donna Wold, and Edwin Harman. I defend Messick’s naturalist methodology, which suggests that people inherently categorize others and act altruistically toward certain people in a given person’s in-group. This paper suggests that an anthropological reason for this grouping tendency is a limited human neural ability to process large numbers of relationships. But because human beings also have the ability to modify, to some extent, their nature, corporate law (...) can organize small mediating institutions within large corporations in order to take ethical advantage of this groupingtendency. Within a corporate law taking seriously a mediating institution’s formulation of business communities, a virtue ethicsapproach can be integrated with a naturalist approach in a way that fosters ethical business behavior while mitigating the dangers of ingrouping tendencies. (shrink)

Islamic Business Finance is based on strong ethical regulations as suggested by Islamic Literature, such as the Quran and the Traditions of the Prophet of Islam, and could be considered as a subclass of the wider subject of ethical standards in business. This book highlights the basic principles of Islamic Business ethics and their implication in today's global business environment. It highlights the most important features of Islamic banking and finance in relation to the core (...) principles of Shariah law. It is the most comprehensive book to date, in terms of the number of Quranic verses and traditions of the Prophet relating to this subject, which are interspersed throughout the text. It explains how ethics are defined both in general terms and within the context of an Islamic perspective. In addition, it provides a logical interpretation of Islamic principles of business ethics through the use of contemporary business case studies. Topics such as digital currencies, money laundering, etc. are discussed at length. This book also discusses the new and emerging ethical issues faced by business and industry globally. This book will be a valuable reference guide for students, teachers and researchers of Islamic banking and finance. (shrink)

We describe the Catholic natural law tradition by examining its origins in the medieval penitentials, the papal decretals, the writings of Thomas Aquinas, and seventeenth century casuistry. Catholic natural law emerges as a flexible ethic that conceives of human nature as rational and as oriented to certain basic goods that ought to be pursued and whose pursuit is made possible by the virtues. We then identify four approaches to natural law that have evolved within the United States during the twentieth (...) century, including the traditionalist, proportionalist, right reason, and historicist approaches. The normative implications of these approaches are discussed in relation to ethical issues in the tobacco industry, ITT under Geneen, the marketing of pharmaceuticals, affirmative action, and bribery. It is argued that Alasdair MacIntyre is correct in claiming that the natural law tradition is superior to the liberal ethics of modern deontology and utilitarianism. (shrink)

We describe the Catholic natural law tradition by examining its origins in the medieval penitentials, the papal decretals, the writings of Thomas Aquinas, and seventeenth century casuistry. Catholic natural law emerges as a flexible ethic that conceives of human nature as rational and as oriented to certain basic goods that ought to be pursued and whose pursuit is made possible by the virtues. We then identify four approaches to natural law that have evolved within the United States during the twentieth (...) century, including the traditionalist, proportionalist, right reason, and historicist approaches. The normative implications of these approaches are discussed in relation to ethical issues in the tobacco industry, ITT under Geneen, the marketing of pharmaceuticals, affirmative action, and bribery. It is argued that Alasdair MacIntyre is correct in claiming that the natural law tradition is superior to the liberal ethics of modern deontology and utilitarianism. (shrink)

Business, Institutions, and Ethics: A Text with Cases and Readings is the first text to use the analysis of social institutions to examine business ethics. It explains fundamental concepts in ethics and how to apply them to business and economics. The author shows how social institutions are constituted by an integrated set of ethical, economic, and legal principles, and then uses these principles to study the ethics of commerce at the individual, organizational, and (...) market levels. This unique work features thirty-four cases and articles that are organized into economic categories, providing a conceptual unity and flexibility not found in similar texts. The first half of the text focuses on theory, beginning with a case study that illustrates and unifies the theoretical discussions that follow. It examines market institutions, organizational structure, and individual decision making; interprets moral development as a process within institutional settings; and explains egoism, care, utilitarianism, right, and pluralistic ethical theories. It also discusses how economic analyses of markets and firms incorporate ethical principles, and argues that law reinforces ethical and economic aspects of social institutions important to the continued existence and well-being of society. The second half of the text consists of cases and articles organized by the economic categories of property, risk-reward relationships, information, and competition. Topics covered include corporate control, workplace dangers, marketing, and manufacturing relocation. Applicable in both business schools and philosophy departments, Business, Institutions, and Ethics shows how ethical principles can help us gather, sort, and interpret information necessary for making sound business decisions. Ideal for courses in business ethics and business and society, it is also a valuable reference for business professionals and philosophers. (shrink)

Ost S. Drs Bramhall and Bawa-Garba and the rightful domain of the criminal ….

Corporate social responsibility, sustainability and acting ethically are all accepted business aims, but their meaning and implementation in a global context is far less clear-cut. Global Business Ethics cuts through the confusion to provide a coherent basis for ethical decision-making within the complications of the international business landscape. Underpinned by theory and including worked-through examples of ethical dilemmas and their solutions, this textbook will guide the reader beyond theory to real-world business decisions. Practical tools such (...) as decision trees and suggested principles to apply in dilemma situations give readers the skills and confidence to tackle the ethical challenges they face. A unique working code of ethics is provided as a model with guidance to readers for adaptation and implementation. Case studies include: Walmart, Hershey's, Citibank, Ford, Nike, Johnson & Johnson, Harley- Davidson, The Body Shop and Procter and Gamble. A chapter on the legal aspects of ethics provides clear guidance on the complex relationship between law and ethics in international business. The final part takes an in-depth look at the practical application of ethics in business life. Covering all the major theories of ethics, including an examination of the role of quantification of ethics, Global Business Ethics demonstrates how their principles can be applied to inform better business decisions. (shrink)

While researchers in business ethics, moral philosophy, and jurisprudence have advanced the study of corporate agency, there have been very few attempts to bring together insights from these and other disciplines in the pages of the Journal of Business Ethics. By introducing to an audience of business ethics scholars the work of outstanding authors working outside the field, this interdisciplinary special issue addresses this lacuna. Its aim is to encourage the formulation of innovative arguments (...) that reinvigorate the study of corporate agency and stimulate further cross-fertilization of ideas between business ethics, law, philosophy, and other disciplines. (shrink)

efining Documents in American History: Business Ethics offers an in-depth analysis of 67 primary source documents at the foundation of the study of business ethics. These include letters, newspaper accounts, book excerpts, speeches, political debates, testimony, firsthand accounts, memoirs, court rulings, legal texts, legislative acts, excerpts from both fiction and nonfiction books, and dialogues from dramatic works. More and more, the specific ethics policies that have many businesses and corporations developed in the 1970s and 80s (...) are not enough today. Transparency related to sources and materials, pricing strategies, and the public good are crucial for the success of any business. The material in this two-volume reference work is organized into five sections, and each section begins with a brief introduction that defines questions and problems underlying the subjects addressed in the historical documents. These documents provide an overview of business ethics and how it affects all of society, from the heads of corporations in industries like oil, energy, social media, food, and transportation to the workers that produce the goods and services to the consumers of those goods and services. They present a wide array of legal and moral opinions, descriptions of the effects that business ethics can play in the national and global economy, and they take a closer look at the way that business ethics relates to politics. Each historical document is supported by a critical essay, written by historians and teachers, that includes a Summary Overview, Defining Moment, Author Biography, Document Analysis, and Essential Themes. An important feature of each essay is a close reading of the primary source that develops broader themes, such as the author s rhetorical purpose, social or class position, point of view, and other relevant issues. Each essay also includes a Bibliography and Additional Reading section for further research. The detailed document analysis begins with early essays instrumental in the creation and development of the field of business ethics and continues to 2019 by examining issues relevant right now, from harassment and discrimination to technology and privacy. This two-volume set includes in-depth chapters that provide a thorough commentary of significant primary source documents. -- Amazon.com. (shrink)

This article describes Catholic natural law tradition by examining its origins in the medieval penitentials, the papal decretals, the writings of Thomas Aquinas, and seventeenth-century casuistry. Catholic natural law emerges as a flexible ethic that conceives of human nature as rational and as oriented to certain basic goods that ought to be pursued and whose pursuit is made possible by the virtues. Four approaches to natural law that have evolved within the United States during the twentieth century are then identified, (...) including the traditionalist, proportionalist, right reason, and historicist approaches. The normative implications of these approaches are discussed in relation to ethical issues in the tobacco industry, ITT under Geneen, the marketing of pharmaceuticals, affirmative action, and bribery. It is argued that Alasdair MacIntyre is correct in claiming that the natural law tradition issuperior to the liberal ethics of modern deontology and utilitarianism. (shrink)

In today's turbulent business climate, business ethics are more important than ever. Surveys of employees show that misconduct is on the rise. Cover stories reporting indictments, prosecutions, and penalties imposed for unethical business conduct appear almost daily. Legislatures pass requirements elevating the levels of punishment and their enforcement against corporations and individuals. Organizations face pressure to design and implement effective ethics and compliance programs. As a result, businesses and businesspeople are increasingly worried that their conduct (...) might cross lines that put their wealth and reputations at risk. Business Ethics: What Everyone Needs to Know ® explains what those lines are, how not to cross them, and what to do when they are crossed. Written for both businesspeople facing real-life dilemmas and students studying ethical questions, this succinct book uniquely surveys materials from moral philosophy, behavioral science, and corporate law, and shares practical advice. Experts J.S. Nelson and Lynn A. Stout cover a wide array of essential topics including the legal status of corporations, major ethical traps in modern business, negotiations, whistleblowing and liability, and best practices. Written in a short question-and-answer style, this resource provides engaging and readable introductions to the basic principles of business ethics, and an invaluable guide for dealing with ethical dilemmas. (shrink)

Sheldon S, Lord J. Guest editorial: Care not criminalisation; reform of British abortion law is ….

The biggest research programme within business ethics is arguably Corporate Social Responsibility and all its related streams (Corporate Citizenship, Social Justice, etc.) While there seems to be widespread agreement that business ethics is situated between the amoral or even immoral view of Milton Friedman as explicated in his 1970 New York Times paper, and the moral view expounded by R. Edward Freeman, this essay challenges that view. Friedman, maybe owed to his flamboyant writing style and crude (...) and purely rhetorical oversimplifications has been misinterpreted to advocate for managers to be completely amoral maximisers of profitability. This misinterpretation has become common wisdom, despite him clearly stating that the law and the moral standards of surrounding society must limit profit-seeking behaviour. Freeman's stakeholder theory, on the other hand, is seen as being on the other end of the continuum, arguing for selflessness—another misinterpretation, as I argue with Ed Freeman's help. Instead, I suggest that both Friedman and Freeman represent the virtuous mean of the business ethics continuum and not its extremes because they both base their theories on the idea of the free and socially embedded individual. The two vicious ends of the continuum are inhabited by the unreal, atomised, completely a-social and selfish individual on the one end, and by the equally unreal collectivised self-less individual on the other. The mainstream in business ethics has declared the collective and selfless end to be the ideal that must guide practice and research. The selfish and the selfless strawmen have prevented a proper debate in business ethics for too long. (shrink)

This commentary proceeds as follows. First, it is argued from both ethical and legal perspectives through an analysis of Court precedents that Etzioni’s has improperly developed a too narrow First Amendment interpretation and conclusion that Apple should comply with the FBI’s demand to provide the FBI with a key to open iPhones. That is, broad First Amendment considerations and not solely narrow First Amendment “compelled speech” or only Fourth Amendment privacy issues are offered and analyzed from both ethical and legal (...) perspectives. A key point here is that broad First Amendment considerations protect, with exceptions, political and ethical discretion space for “Press” organizations to exercise, or not, ethical responsibilities, including rights to publish or not publish information and opinions, rather than compliance with government orders to publish or not publish. Further, Court cases are discussed from both legal and ethical perspectives where the Courts have established that social media organizations such as Facebook and Twitter do and should have broad First Amendment protection of free expression and peaceful assembly as traditional media such as newspapers have. It is suggested that Apple can and should be considered a social media organization. In addition, special First Amendment protection and limitations concerning national security are analyzed. Second, it is suggested that Etzioni’s point that Apple protected its clients soley for “business profitability” reasons is also a too narrow interpretation since there are more complex, mixed, and combined ethical and political-economic reasons for protecting clients and First Amendment protections. Third, the philosopher Paul Ricoeur’s ethics process responsibility framework concerning relationships between ethics and law and the need for an ethics responsibility rather than a compliance approach, which is similar to Brandeis’ legal ethics approach, is compared with and offered as an alternative to Etzioni’s compliance based “Liberal communitarian” approach. It is suggested that the difference between the Rocoeur and Etzioni approaches is similar to the difference between compliance and ethics responsibility process programs in organizations. (shrink)

Business, Institutions, and Ethics: A Text with Cases and Readings is the first text to use the analysis of social institutions to examine business ethics. It explains fundamental concepts in ethics and how to apply them to business and economics. The author shows how social institutions are constituted by an integrated set of ethical, economic, and legal principles, and then uses these principles to study the ethics of commerce at the individual, organizational, and (...) market levels. This unique work features thirty-four cases and articles that are organized into economic categories, providing a conceptual unity and flexibility not found in similar texts. The first half of the text focuses on theory, beginning with a case study that illustrates and unifies the theoretical discussions that follow. It examines market institutions, organizational structure, and individual decision making; interprets moral development as a process within institutional settings; and explains egoism, care, utilitarianism, right, and pluralistic ethical theories. It also discusses how economic analyses of markets and firms incorporate ethical principles, and argues that law reinforces ethical and economic aspects of social institutions important to the continued existence and well-being of society. The second half of the text consists of cases and articles organized by the economic categories of property, risk-reward relationships, information, and competition. Topics covered include corporate control, workplace dangers, marketing, and manufacturing relocation. Applicable in both business schools and philosophy departments, Business, Institutions, and Ethics shows how ethical principles can help us gather, sort, and interpret information necessary for making sound business decisions. Ideal for courses in business ethics and business and society, it is also a valuable reference for business professionals and philosophers. (shrink)

This book introduces a study of ethics and values to develop a deeper understanding of markets, business, and economic life. Its distinctive feature is its thorough integration across personal and institutional perspectives; across applied ethics and political philosophy; and across philosophy, business, and economics. Part I studies markets, property rights, and law, and introduces normative theories with many applications. ¿Part II examines the purpose of corporations and their responsibilities. Parts III and IV analyze business and (...) economic life through the ethics and values of welfare and efficiency, liberty, rights, equality, desert, personal character, community, and the common good. This Second Edition maintains the strengths of the First Edition ¿ short, digestible chapters, and engaging writing that explain challenging ideas clearly. The material is user-friendly, with an emphasis on a strong theoretical core. Easily adaptable to the instructor¿s teaching, the chapters are separable and can be shaped to the interests of the instructor with suggested course outlines and flexible application to case studies. This text is designed both for coursework in Business Ethics as well as interdisciplinary programs in Philosophy, Politics, Economics, and Law. This Second Edition: Expands presentation of eight normative theories, with increased emphasis on links between these theories and business and economic life Incorporates recent scholarship on shareholder / stakeholder debates about the purpose of corporations, bringing this important topic up to date Includes a new streamlined Preface/Introduction that provides a quick overview of the book before smoothly guiding the reader to the first chapter Uses updated examples and applications for today¿s readers Revamps a useful Appendix, including enhancing the popular primer on ethics Introduces a List of Further Readings at the end of each chapter and notable biographies throughout, directing students to the most promising literature for further research Includes a new ending chapter on the value of an ethical life. (shrink)

Although Friedman's The Social Responsibility of Business is to Increase Profits is widely read, the central argument is rarely identified. Stone's discussion of Friedman in Where the Law Ends, is often used as a companion piece. Stone claims that the most important argument in Friedman is the Polestar argument but never succeeds in explaining what it is. This paper shows that Friedman's position must be read in the context of his theory of political economy, and that at least four (...) distinct utilitarian arguments are required to account for his views. Specifically, Friedman relies upon what I describe as Realistic Rule Utilitarianism in which utility is understood in terms of actual preferences. The weaknesses of this theory are then explained. (shrink)

Since the passage of Title VII of the Civil Rights Act of 1964 and more recent Federal legislation, managers, regulators, and attorneys have been busy in sorting out the legal meaning of fairness in employment. While ethical managers must follow the law in their hiring practices, they cannot be satisfied with legal compliance. In this article, we first briefly summarize what the law requires in terms of fair hiring practices. We subsequently rely on multiple perspectives to explore the ethical meaning (...) of fairness in hiring. Ethical fairness underlies the law and regulations in this area, but goes beyond them as well. We conclude by demonstrating that ethical hiring practices enable managers to make better hiring decisions. (shrink)

ABSTRACT:Research on political ideology in law and psychology can be fruitfully applied to the question of whether business ethics is ideological, and, if so, what response is warranted. I suggest that legal and psychological research streams can be drawn upon to create a new genre of critical business ethics that differs from normative and empirical business ethics. In psychology, Moral Foundations Theory (MFT) suggests how the mainstream ideology within an academic field can be criticized (...) as a reflection of a self-righteous, us-them mind-set. In law, Critical Legal Studies (CLS) suggests how a field’s mainstream ideology can be criticized as a rationalization of the status quo. I suggest that the MFT and CLS criticisms of ideology can be joined to develop a critical approach to business ethics that seriously examines science on normatively charged topics, such as liberal-conservative differences and implicit attitudes, and that frames it in terms of alternative narratives. (shrink)

The Principles of Corporate Governance require that business conduct conform to the law. In recent years, news reports of business misconduct have cast doubt on a conclusion that conformity is the prevalent practice. This article explores the influence of law on business conduct by comparing the law’s requirements and purposes with actual business conduct in the market. Specifically, it explores whether certain legal regimes are more effective than others in inducing greater commitment to legal compliance by (...) corporate actors. The conclusion drawn is that the prevalent legal regime – a vague common law or legislative mandate – is typically associated with corporate conduct that evades or ignores the law’s mandate or its underlying purpose. (shrink)

The Encyclical-Letter Caritas in Ventate by Pope Benedict XVI suggests to advance towards a new conceptualization of the tenuous relationship between economics and ethics, proposing a "new humanistic synthesis" Where social encyclicals have traditionally justified policy proposals by natural law and theological reasoning alone, Caritas in Ventate gives great relevance to economic arguments. The encyclical defines the framework for a new business ethics which appreciates allocative and distributive efficiency, and thus both markets and institutions as improving the (...) human condition, but locates their source and reason outside the economic sphere. It places a clear accent on the ontological connectedness of the economic and ethical dimensions of human action. It is the proper ordering of means towards the end of integral human development that allows mankind to leave a vicious circle of consumerism and enter a virtuous circle that applies the creativity fostered by markets. This vision implies a new model of business management that integrates considerations of vocation, purpose, and values at a theological level. (shrink)

Based on a model used in the Harvard Business School course on leadership, the three key elements of decision making (the Three Pillars) are strategy, law and ethics. This book shows students how to use the Three Pillars to make successful business decisions that manage risk (the Law Pillar) and create value (the Strategy Pillar) in a responsible manner (the Ethics Pillar). Through the Three Pillar framework, students will understand why law is a positive, value-creating force (...) that enables them to succeed in business. The book applies this practical framework to six areas of the law that, according to surveys, are most important to business leaders: employment law, product liability, government regulation, intellectual property, contracts and dispute resolution. The book includes many end-of-chapter scenarios that enable students to practice their decision-making skills using the Three Pillars model. (shrink)

Until recently, businesses and corporations could argue that their only real commitments were to maximise the return to their shareholders whilst staying within the law. However, the world has changed significantly during the last ten years and now most major corporations recognise that they have significant responsibility to local and global societies beyond simply making profit. This means that there is now an increasing concern with the question of how corporations, and their employees, ought to behave, and this leads us (...) to consider ethics as the appropriate theoretical and philosophical domain.I will bring into the debate two relatively recent approaches to ethics: Jürgen Habermas's discourse ethics ; and the critical realist approach of Roy Bhaskar. These are interesting for several reasons: they both draw on traditional ethical theories, although different ones; they bring in innovations of practical relevance; and they both share an over-arching critical perspective. After a critical introduction to both ethical theories, their similarities and differences are explored. The article ends by considering the extent to which they may be practically useful within business. (shrink)

The Operation Lava Jato, initiated in 2014 by the Ministry of Finance and carried out by the Brazilian Government Agency for Law Enforcement and Prosecution of Crimes, brought to light the unethical practices of several national contractors, despite their declared commitment to social responsibility and ethical management—a corporate conduct epitomized in the popular saying: “Do what I say; don’t do what I do”. In this chapter, we analyze such disconnection between discourse and practice vis-a-vis the literature on leadership and (...) class='Hi'>business ethics, Brazilian culture and historical analyses of the Brazilian contractors industry. We examine the official discourse of a Brazilian contractor, as observed in documents retrieved from websites and statements to the press, and its practices, as depicted in the media and documented in testimonies already conducted by the federal courts and attached to the original case-files. Specifically, we aim to contribute to the reflection on management and ethics in Brazil by identifying and discussing the factors that seem to have promoted such disconnection, including aspects of national culture and the institutional environment, together with organizational culture and leadership. (shrink)