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Business Ethics
Readings and Cases in Corporate Morality
“Masterful combination of theory and practice, classic and cutting-edge, giving us the perfect tool for preparing the next generation of business leaders.” —Thomas I. White, Loyola Marymount University “This new edition of Business Ethics: Readings and Cases in Corporate Morality is an interesting and unique collection of articles and cases—many of which have not appeared in other anthologies in business ethics. The cases, in particular, provide the reader with thoughtful examples that illustrate the theoretical readings.” —Patricia H. Werhane, DePaul University
W. Michael Hoffman (Edited by), Robert E. Frederick (Edited by), Mark S. Schwartz (Edited by)
9781118336687, Wiley
Paperback / softback, published 14 February 2014
784 pages
24.6 x 19.1 x 3.6 cm, 1.284 kg
“Masterful combination of theory and practice, classic and cutting-edge, giving us the perfect tool for preparing the next generation of business leaders.”
—Thomas I. White, Loyola Marymount University
“This new edition of Business Ethics: Readings and Cases in Corporate Morality is an interesting and unique collection of articles and cases—many of which have not appeared in other anthologies in business ethics. The cases, in particular, provide the reader with thoughtful examples that illustrate the theoretical readings.”
—Patricia H. Werhane, DePaul University
The fifth edition of Business Ethics addresses current, intriguing, often complex issues in corporate morality through 53 readings and 30 pertinent case studies. Now significantly updated, it includes new leading articles, related current cases, and mini-cases based on MBA student dilemmas.
About the Editors xi Preface xii General Introduction: The Nature of Business Ethics 1 Part 1 Ethics and Business: From Theory to Practice 37 Introduction 37 1 Theories of Economic Justice 43 Justice as Fairness 43 Distributive Justice 49 Distributive Justice and Utilitarianism 55 The “Invisible Hand” 59 Corporate Ethics in a Devilish System 70 Questions for Discussion 77 2 Ethics and Business Decision Making 78 Teaching Ethical Decision Making and Principled Reasoning 78 Business Ethics and Moral Motivation: A Criminological Perspective 86 Ethical Leadership and the Psychology of Decision Making 105 Cost-Benefit Analysis: An Ethical Critique 120 Cost-Benefit Analysis Defended 127 Questions for Discussion 130 Cases for Part 1 131 Mini-Cases 131 MBA Student Mini-Dilemmas 132 Cases The Parable of the Sadhu 133 The Ford Pinto 139 The Analyst’s Dilemma (A) 145 Walk Away From Your Mortgage! 149 The Ok Tedi Copper Mine 150 Part 2 The Nature of the Corporation 157 Introduction 157 3 Agency, Legitimacy, and Responsibility 163 Can a Corporation Have a Conscience? 163 Is Business Bluffing Ethical? 172 The Social Responsibility of Business is to Increase its Profits 180 Stakeholder Theory of the Modern Corporation 184 Ethics in Business: Two Skeptical Challenges 192 Commentary on the Social Responsibility of Corporate Entities: Bad and Not-so-Bad Arguments for Shareholder Primacy 202 Questions for Discussion 215 4 Corporate Governance and Accountability 216 Who Rules the Corporation? 216 Power and Accountability: The Changing Role of the Corporate Board of Directors 224 Who Should Control the Corporation? 231 Tone at the Top: An Ethics Code for Directors? 243 Do CEOs Get Paid Too Much? 264 Questions for Discussion 274 Cases for Part 2 275 Mini-Cases 275 MBA Student Mini-Dilemmas 277 Cases Fire Destroys Malden Mills 277 Merck & Co., Inc. (A) 279 Bailouts and Bonuses on Wall Street 284 Citigroup’s Chief Rebuffed on Pay by Shareholders 297 Part 3 Work in the Corporation 301 Introduction 301 5 Employee Rights and Duties 307 Employee Rights 307 Human Rights, Workers’ Rights, and the “Right” to Occupational Safety 316 Whistle-Blowing 320 The Morality of Whistleblowing: A Commentary on Richard T. De George 338 Conflicts of Interest 350 The Moral Problem in Insider Trading 368 Questions for Discussion 382 6 The Modern Workplace: Obligations and Limits 383 A Kantian Theory of Meaningful Work 383 Organization of Work in the Company and Family Rights of the Employees 392 Workplace Wars: How Much Should I be Required to Meet the Needs of Your Children? 401 Discrimination, Harassment, and the Glass Ceiling: Women Executives as Change Agents 407 The Debate Over the Prohibition of Romance in the Workplace 418 Questions for Discussion 431 Cases for Part 3 432 Mini-Cases 432 MBA Student Mini-Dilemmas 433 The Case of the Mismanaged Ms. 434 Heineken NV: Workplace HIV/AIDS Programs in Africa (A) 439 Banking: A Crack in the Swiss Vault 450 Will Rewards for Whistleblowers Encourage Ethical Behavior? 454 Boeing Chief is Ousted after Admitting Affair 455 Abuse Scandal Inquiry Damns Paterno and Penn State 457 Timeline: The Penn State Scandal 460 You’ve Been Tagged! (Then Again, Maybe Not): Employers and Facebook 463 Part 4 The Corporation in Society 475 Introduction 475 7 The Consumer 481 The Dependence Effect 481 The Non Sequitur of the “Dependence Effect” 485 The Ethics of Consumer Protection 488 Marketing and the Vulnerable 504 Questions for Discussion 513 8 The Environment and Sustainability 514 Morality, Money, and Motor Cars 514 Business and Environmental Ethics 520 Creating Sustainable Value 529 Rethinking the Concept of Sustainability 542 Questions for Discussion 552 9 International Business 553 Ethical Dilemmas for Multinational Enterprise: A Philosophical Overview 553 International Business, Morality, and the Common Good 557 Values in Tension: Ethics Away from Home 567 The Case for Leveraged-Based Corporate Human Rights Responsibility 576 What’s Wrong with Bribery 602 Capitalism with a Human Face: The UN Global Compact 604 Questions for Discussion 620 Cases for Part 4 621 Mini-Cases 622 MBA Student Mini-Dilemmas 623 The Ethics of Marketing: Nestlé’s Infant Formula 624 TransAuto Corporation Trade-offs 629 Sony Online Entertainment: EverQuest® or EverCrack? 632 Dicing with Death? A Case Study of Guidant Corporation’s Implantable Defibrillator Business 636 Chiquita Accused of Funding Colombia Terrorists 642 Wal-Mart Hushed Up a Vast Mexican Bribery Case 644 Yahoo! and Google in China 656 Google Softens Tone on China 661 Part 5 Challenges and Emerging Issues 665 Introduction 665 10 Challenges and Emerging Issues 669 What’s the Matter with Business Ethics? 669 Developing and Sustaining an Ethical Corporate Culture: The Core Elements 677 The Ethics Officer as Agent of the Board: Leveraging Ethical Governance Capability in the Post-Enron Corporation 689 Can a Company be Too Ethical? 699 God as a Managerial Stakeholder? 705 The Fortune at the Bottom of the Pyramid 720 Questions for Discussion 733 Business Ethics in Hollywood Movies 733 Cases for Part 5 735 Mini-Cases 735 Cases Global Corporation: Running a Global Ethics and Compliance Program 736 Barrick’s Tanzanian Project Tests Ethical Mining Policies 743 An Ethical Approach to Crisis Management 749 Why I Am Leaving Goldman Sachs 756
John Rawls
Robert Nozick
J. J. C. Smart
Jan Narveson
Kent Greenfield
Michael Josephson
Joseph Heath
David M. Messick and Max H. Bazerman
Steven Kelman
Herman B. Leonard and Richard J. Zeckhauser
Bowen H. McCoy
W. Michael Hoffman
Joseph L. Badaracco Jr. and Jerry Useem
Roger Lowenstein
Manuel G. Velasquez
Kenneth E. Goodpaster and John B. Matthews Jr.
Albert Z. Carr
Milton Friedman
R. Edward Freeman
Robert E. Frederick
Lynn A. Stout
Ralph Nader, Mark Green, and Joel Seligman
Irving S. Shapiro
Henry Mintzberg
Mark S. Schwartz, Thomas W. Dunfee, and Michael J. Kline
Jeffrey Moriarty
Anonymous
David Bollier and Stephanie Weiss
Kirsten Martin and Michael Scotto
Jessica Silver-Greenberg and Nelson D. Schwartz
Ronald Duska
Tibor R. Machan
Richard T. De George
W. Michael Hoffman and Mark S. Schwartz
Thomas L. Carson
Alan Strudler
Norman E. Bowie
Domènec Melé
Claudia Mills
Myrtle P. Bell, Mary E. McLaughlin, and Jennifer M. Sequeira
Colin Boyd
Cases
Sally Seymour
Diana Barrett and Daniella Ballou
Andy Court and Keith Sharman
Matthew Gilley and W. Michael Hoffman
Leslie Wayne
Ken Belson
Justin Sablich, Ford Fessenden, and Alan McLean
William P. Smith and Deborah L. Kidder
John Kenneth Galbraith
F. A. von Hayek
Manuel G. Velasquez
George G. Brenkert
Norman Bowie
W. Michael Hoffman
Stuart L. Hart and Mark B. Milstein
Alexis J. Bañon Gomis, Manuel Guillén Parra, W. Michael Hoffman, and Robert E. McNulty
Richard T. De George
Manuel G. Velasquez
Thomas Donaldson
Stepan Wood
Scott Turow
Klaus M. Leisinger
Cases
James E. Post
Rewritten by Mark S. Schwartz
Judith W. Spain and Gina Vega
Martin E. Sandbu
Curt Anderson
David Barstow
John M. Kline
Amir Efrati and Loretta Chao
Andrew Stark
Mark S. Schwartz
W. Michael Hoffman and Mark Rowe
Andrew W. Singer
Mark S. Schwartz
C. K. Prahalad and Stuart L. Hart
Mark S. Schwartz
Lisa A. Stewart
Geoffrey York
Mark S. Schwartz, Wesley Cragg, and W. Michael Hoffman
Greg Smith
Subject Areas: Business & management [KJ]
