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business ethics

Business Ethics 1st Edition William Frey, Jose Cruz-Cruz - Solutions

In this step, faculty members were asked to reduce the values list to a manageable number of five to seven. This led to the most contentious part of the process. Participants disagreed on the conception of value, the meaning of particular values like justice, and on whether rights could be treated
The sample provisions crafted in the earlier stakeholder code effort were presented so that participants could identify the values these embodied. Previous efforts in developing a stakeholder code could be benchmarked against the codes studied in the previous step. Convergences and divergences were
Participants examined "bona fide" codes of ethics such as academic codes, codes of honor, corporate codes, and professional codes. Since codes embody values, they developed lists of the values these codes embodied.
They discussed a flawed document, the Pirate Credo. This brought about three positive results: participants came to see how codes embody values, that codes serve different functions, and that codes clarify relations between the insiders and outsiders of a community.
Stakeholder approaches combine compliance and value-based approaches. In compliance, corporate officers define a moral and legal minimum; this consists of the minimum set of rules necessary for stakeholder coexistence. Beyond this, value-based approaches seek to create common, broader objectives,
Managers play an important meta-role here. They are faithful agents but of all stakeholders, not just stockholders. Thus, they becomes referees or (to switch metaphors) brokers between stakeholders. They oversee the generation of expansive corporate values capable of absorbing and integrating
The first feature of the owner role is the reduction in centrality mentioned just above. They advocate their interests in the same arena as the other stakeholders, but they also must work to make their interests compatible with the other stakeholders. This requires integrating interests when
The stakeholder view can be closely tied to egoism if it is assumed that the different stakeholder groups exist to maximize their selfish interests. But the stakeholder approach to corporate governance goes beyond the egoistic account of human nature. The corporation (and its managers) become
Owners drop out of the center of attention in this approach to become one of several, equal stakeholders. A stakeholder is any group or individual that has a vital interest, right, good, or value in play or at risk. (A gambler's stake is the money on the table in play as the roulette wheel turns.
Like corporations operating within agency theory, stockholder corporations focus on compliance strategies to monitor managers and make sure they remain faithful agents. However, directors under the stockholder approach also take seriously oversight responsibility which include ensuring corporate
Managers are role-responsible for ensuring that investors get maximum return on their investment. This includes exercising good business judgment and avoiding conflicts of interests and violations of confidences.
The owners invest in the corporation and seek a return (profit) on this investment. But this narrow role has been expanded into overseeing the operations of the corporations and its managers to ensure that the corporation is in compliance with ethical and legal standards set by the government. Just
Stockholders are oriented toward self-interest, so stockholder theory, along with agency theory, takes an egoistic/Hobbesian view of human nature. Humans are rational, self-interest maximizers. Owners should expect this from the corporation's managers and employees. They should integrate procedures
The stockholder approach is quite similar to that set forth in agency theory. The difference is that it views the corporation as the property of its owners (stockholders) who may dispose of it as they see fit. Most of the time this involves using it to receive maximum return on investment.
How does ethics enter into corporate governance under agency theory? Primary emphasis is placed on compliance, i.e., enforced conformity to rules that constitute minimum thresholds of acceptable behavior. Compliance approaches develop (1) rule based codes, (2) systems of monitoring to detect
Managers are agents. Their primary responsibility is to serve as faithful executors of the goals and interests of the principals. This requires, first, that, managers are responsible for exercising their professional judgment in a competent way. Managers are also responsible for remaining faithful
The owners/directors play the role of principal in agency theory. The principal originates the action and bears primary moral and legal responsibility for it. Most of the time the principal of an action is also its executor. But there are times when the principal lacks the knowledge and skill
Managers cannot be trusted to remain faithful agents, i.e., to stay faithful to the interests and goals of the owners/directors. This presupposes a particular view of human nature. Humans are rational, egoists. They have desires and use reason to devise means to realize them. Since one desire can
In agency theory, the owners/directors set the central objectives of the corporation. Managers, in turn, are responsible for executing these objectives in the corporation's day-to-day operations. Corporate governance consists of designing structures and procedures to control management, i.e., to
Paternalism: Often experts are tempted to act as overly concerned parents and take over the decision-making perogatives of the public because they (the experts) "know better." Paternalism, while well motivated, is based on the misconception that the public doesn't understand risk because it often
Free and Informed Consent: The right to decide if a risk is acceptable based on access to pertinent information and absence of compulsion. The Belmont Report defines informed consent in the following way: "[that] subjects, to the degree that they are capable, be given the opportunity to choose what
NIMBY: This acronym stands for "Not in my backyard." Citizens often find the risks associated with a project or product acceptable only if these are located somewhere else, i.e., in another person's backyard. NIMBY has made it next to impossible for the U.S. DOE (Department of Energy) to find an
Risk: "A risk is the potential that something unwanted and harmful may occur." (IEE 108)
Safety: "A thing is safe if, were its risks fully known, those risks would be judged acceptable in light of settled value principles." (IEE 108)
Trust: The expectation of moral behavior on the part of others. Trust is built out of the social capital accumulated through successful interactions with others. It is consumed or undermined by those who choose to free ride on social cooperation, i.e., compete while others are cooperating. The
Responsibility: Herbert Fingarette defines responsibility (in the context of criminal insanity) as (moral) response to (moral) relevance. Different senses of responsibility include causal, legal (vs. moral), role, capacity, and blame. Responsibility can be reactive when it focuses on the past and
Justice: Justice can be generally defined as giving each his or her due. Distributive justice, in the context of risk, prescribes a fair distribution of the benefits and harms associated with taking a certain risk. Ideal pattern approaches argue that distribution should conform to a pattern such as
Virtue: Responsible risk management can also be formulated as a virtue. Virtues are traits that extend "deep down" into an individual's character. They include an orientation toward excellence in decision and execution, perceptual sensitivities that help to uncover moral relevance, and
Duty: The obligation to recognize and respect the essential capacities of actions of others. Duties are correlative to rights. For example, the duty to avoid paternalism in the management and communication of risk is correlative to the right of free and informed consent.
Right: A capacity of action that others are obliged to recognize and respect. A key right in the context of risk is free and informed consent. (See below)
Finally, quickly list themes and issues that were left out of the public hearing that should have been included?
What opportunities arise for exercising resonsibility as an excellence? Which were taken advantage of? Which were lost?
Were there any opportunities to offer Fred moral support by those who shared responsibility with him? What were these opportunities. How, in general, can professional societies support their members when they find themselves in ethically difficult situations?
Do you agree with the Commissions findings? Why or why not? Be sure to frame your arguments in terms of the responsibility frameworks provided above.
Finally, what opportunities arose in the video practicing moral responsibility as a virtue? (Think about what an exemplary engineer would have done differently.)
How can interested parties provide moral support?
What can professional societies do to provide moral support to members in difficult situations?
Develop a two minute position paper summarizing Fred's interests, concerns, and rights. Anticipate questions that the Commission might raise about Fred's position and develop proactive and effective responses.. Be sure to use the three responsibility frameworks. Is Fred to blame for what happened?
Examine Fred's actions and participation from the standpoint of the three responsibilty frameworks mentioned above.
The Mexican Commission established to investigate this "incident" will ask you questions to help determine what cause it and who is to blame. What do you think some of these questions will be? How should you respond to them? Who do you think is to blame for the incident and what should be done in
Develop a statement that summarizes your interests, concerns, and rights. Are these being addressed by those at Phaust and the parent company in France?
Manuel, your plant manager, has just died. You and your co-workers are concerned about the safety of this new plant. Can you think of any other issues that may be of concern here?
Did Wally and Chuck evade their responsibility by delegating key problems and decisions to those, like plant manager Manuel, in charge of operations? (Start the answer to this question by determining the different role responsibilities of the stakeholders in this situation.) What kind of
Is Fred (blame) responsible for the accident and even Manuel's death? (Use the conditions of imputability and the excuse table to get started on this question.)
Finally, responsibility as an excellence requires extending the range of knowledge and control that one exercises in a situation. Preventing accidents requires collecting knowledge about a system even after it has left the design and manufacturing stages and entered its operational life.
Responsibility as a virtue manifests itself in a willingness to pick up where others have left off. After the Bhopal disaster, a worker was asked why, when he saw a cut-off valve open, he didn't immediately close it as safety procedures required. His response was that shutting off the value was not
Virtues are more than just modes of reasoning and thinking. They also consist of emotions that clue us into aspects of the situation before us that are morally salient and, therefore, worthy of our notice and response. Two emotions important for responsibility are care and compassion. Care clues us
Aristotle situates virtues as means between extremes of excess and defect. Can you think of examples of too much responsibility? (Does Fred try to take on too much responsibility in certain situations?) Can you think of anyone who exhibits too little responsibility. (Does Fred take on too little
Virtues are excellences of the character which are revealed by our actions, perceptions, beliefs, and attitudes. Along these lines, responsibility as a virtue requires that we reformulate responsibility from its reactive, minimalist sense (where it derives much of its content from legal
If Fred (a) failed to carry out any of his role responsibilities, (b) this failure contributed to the accident, and (c) Fred can offer no morally legitimate excuse to get himself off the hook, then Fred is blameworthy.
Determine if there is any moral fault present in the situation. For example, did Fred act on the basis of wrongful intention (Did he intend to harm Manuel by sabotaging the plant?), fail to exercise due care, exhibit negligence or recklessness?
Identify situation-based factors that limited his ability to execute his role responsibilities (These are factors that compel our actions or contribute to our ignorance of crucial features of the situation.)
Specify his role responsibilities and determine whether he carried them out
Responsibility as a Virtue: Here one develops skills, acquires professional knowledge, cultivitates sensitivies and emotions, and develops habits of execution that consistently bring about value realization and excellence. One way of getting at responsibility as an excellence it to reinterpret the
Preventive Responsibility: By using knowledge of the past, one can avoid errors or repeat successes in the future. Peter French calls this the "Principle of Responsive Adjustment." (One adjusts future actions in response to what one has learned from the past.) According to French, responsive
Sharing Responsibility extends the sphere of responsibility to include those to whom one stands in internal relations or relations of solidarity. Shared responsibility includes answering for the actions of others within one's group. It also includes coming to the moral aid of those within one's
Blame Responsibility determines when we can legitimately praise or blame individuals for their actions.
Capacity Responsibility sets forth those conditions under which someone can be praised or blamed for their actions. Praise and blame associate an agent with an action. Excuses are based on means for separating or disassociating an agent from their actions. Capacity responsibility helps us determine
Role Responsibility delineates the obligations individuals create when they commit to a social or professional role. When Fred became an engineer he committed to holding paramount the health, safety and welfare of the public. (See NSPE code of ethics)
Causal Responsibility refers to prior events (called causes) which produce or prevent subsequent events (called effects). Cheap, inacurate sensors (cause) required that Manual be present on the scene (effect) to monitor the high temperatures and pressures required to correctly prepare Phaust's
This module and two others (A Short History of the Corporation and Corporate Governance) are designed to help you understand the corporate context of business. In this section, you should reflect on three questions: (1) What have you learned about the social responsibilities of corporations? (2)
Try to resolve conflicts. If you cannot and are forced to prioritize, then you still must find a way of recognizing and responding to each legitimate stakeholder stake. You may want to refer to the "Ethics of Team Work" module (m13760) to look for time-tested methods for dealing with difficult to
Switch from the stakeholder role to that of Burger Man management. You are responsible for developing a comprehensive corporate social responsibility program for Burger Man. You job is to integrate the concerns expressed by the stakeholders in their presentation and form your plan around this
Listen to the stakeholder presentations from the other groups. Try to avoid a competitive stance. Instead, look for commonalities and shared interests. You may want to form coalitions with one or more of the other groups.
Take your assigned stakeholder group and prepare a short presentation(five minutes maximum) on your stakeholder's interests, rights, needs, and vulnerabilities.
Participate in the Burger Man Stakeholder Meeting
Develop a full blown CSR program for Burger Man that carries out the responsibilities of this company to its stakeholders.
Prepare for and participate in a board meeting for Burger Man to examine ethically its practices and develop for it a viable and sustainable program of corporate social responsibility. This requires that you give a short presentation on the interests of a particular Burger Man stakeholder
Prepare a Social Impact Analysis on the fictional firm, Burger Man.
Develop a fully articulated social contract between business and society. Use this contract to understand the basic CSRs of business corporations.
Learn about three models of corporate social responsibility.
Examine the CSR challenges presented above. Compare the two responses to each challenge.
CSR and STS Choose one of the CSR challenges above and construct a socio-technical table around it
In small groups, spell out the social contract between society and business. How can the absence of force, deception, and fraud be guaranteed in this contract? How should each side hold the other accountable? (This is especially the case where one side delivers at one time and the other side is
Werhane, in her alliance model, argues for the importance of a CSR model that decentralizes the corporation and facilitates morally imaginative solutions. Why does she argue that Nike's program is than Wal Mart's from this perspective? What could Wal Mart do to improve its CSR on the alliance view?
Which model would be preferable by Evan and Freeman under the stakeholder view? Who are Nike and Wal Mart's stakeholders? What are their stakes? How should the wealth produced by these two corporations be distributed among their stakeholders?
Which model would Friedman prefer under the his version of the shareholder view of CSR? Explain and evaluate.
If it is necessary to trade off stakeholder stakes as both Wal Mart and Nike do, which trade off is more just? Nike's distribution of its wealth from its stockholders to the needy manifested in its efforts to improve the working conditions and income of the employees of its suppliers? Or Wal Mart's
From a broader CSR perspective, is Nike maximizing stakeholder value? Is it redistributing burdens and costs from customers and investors to its suppliers and their employees? Does CSR allow this redistribution of the corporate wealth form the shareholders to other stakeholders? (Think about
Which moral ecology would you like to work in: finance-, customer, or quality-driven companies? Why? Specify your answer in terms of how the company allocates praise or blame, the centrality of moral concerns, the role given to professionals, the circumstances under which information is withheld,
Closure Groups After listening to the debate and commentary, recap what has happened and discuss whether there are any conclusions that can be drawn from this activity Do people agree or disagree about these 2 issues? If there is agreement, why does it exist? If there is disagreement, why does it
Commentary Groups Your job is to evaluate the arguments made by the teams debating in parts one and two. Be sure to focus on the argument and not the content of the position. Listen to their statements. Do they base these on sound statements? What kind of ethical and practical principles (or
Milgram and Business Continuing with the task in part one, you will be asked to either defend or criticize the following position on the meaning that the results of the Milgram experiments have for business administration The Milgram experiments teach us that under the right conditions, anyone is
What we do when nobody is looking You will be asked either to defend or criticize the following position on the nature and function of punishment Entiendo que ser castigado es una manera de educar a la persona a cometió la falta y a la sociedad en general para que comprendan y entiendan que su
Handling Dissenting Professional Opinions: Dissent is interpreted as disloyalty in finance-driven companies. This organizational habit (maintained by managers to hold on to their authority) will even undermine DPO (dissenting professional opinion) procedures that look good on paper. A good DPO
Information Exchange between Engineers and Managers: In finance driven companies, managers withhold information from the engineers under their supervision for a variety of reasons. For example, if it is proprietary information, the manager may withhold all or part to prevent engineers from leaving
Allocating Praise and BlameJackall goes into detail on how finance-driven corporations (and bureaucracies in general) assign praise and blame. The crucial factor is one's position in the corporate hierarchy. Praise works its way up the corporate ladder. If engineer Smith saves the company from a
Centrality of ethics and values in the corporations decision making process: Ethical considerations play only the role of side constraits in the setting of corporate policity and in the formulation and execution of its decisions. This means that ethical considerations are important only if they
Manager and Engineer Roles and Participation in Decision Making Process: Managers play the line role in that they make the decisions that drive the day to day operations of the corporation. They bear responsibility for the consequences of their decisions and they are also responsible as the
Finance-driven companies place financial objectives at the very heart of their constitutive objectives and corporate identity. For example, such companies are focused on maximizing returns for investors.
What is it according to Andrew Jorgensen? Write a paragraph on which argument you find most persuasive, that of Larry or that of Andrew. Explain why you find it persuasive.
What is the social responsibility of a corporation according to Larry the Liquidator?
What is Andrew Jorgensen's conception of the nature and value of the corporation?
What is Larry the Liquidator's conception of the nature and value of the corporation?
What is Andrew Jorgensen's basic argument?
What is Larry the Liquidator's basic argument?
Property: According to Locke, we own as property that with which we have mixed our labor. Thomas Jefferson argues that ideas are problematic as property because, by their very nature, they are shared once they are expressed. They are also nonrivalrous and nonexclusive.
Privacy: If an item of information is irrelevant to the relation between the person who has the information and the person sho seeks it, then that information is private. Privacy is necessary to autonomy because control over information about oneself helps one to structure and shape one's relations
Free Speech: Free Speech is not an unlimited right. Perhaps the best place to start is Mill's argument in On Liberty. Completely true, partially true, and even false speech cannot be censored, the latter because censoring false speech deprives the truth of the opportunity to clarify and invigorate
Responsibility: (Moral) Responsibility lies in the ability to identify the morally salient features of a situation and then develop actions and attitudes that answer to these features by bringing into play moral and professional values. Responsibility includes several senses: (1) individuals are

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