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Introduction
Figure 1.1 Each of us makes innumerable decisions every day. In a business context, these choices have consequences for ourselves and others whom we must take into account in our decision-making process. (credit: modification of “business paper office laptop” ...
2.3 Comparing the Virtue Ethics of East and West
LEARNING OBJECTIVES By the end of this section, you will be able to: Compare the origins and goals of virtue ethics in the East and the West Describe how these systems each aimed to establish a social order for family and business Identify potent...
Endnotes
1. Alfred North Whitehead, Process and Reality. An Essay in Cosmology. Gifford Lectures Delivered in the University of Edinburgh During the Session 1927–1928. (Cambridge, UK: Cambridge University Press, 1929). ...
Assessment Questions
1. Which of the following is not an intellectual virtue according to Aristotle? the basic order of life knowledge wisdom prudence correct answer 1. A 2. Deliberative prudence does all the following except ________....
Summary
2.1 The Concept of Ethical Business in Ancient Athens The role of ethics in Athens during Greece’s Golden Age (fifth century BCE) was substantial. Aristotle focused on the role of virtue in developing individual character and social stability. He believed a...
2.6 A Theory of Justice
LEARNING OBJECTIVES By the end of this section, you will be able to: Evaluate John Rawls’s answer to utilitarianism Analyze the problem of redistribution Apply justice theory in a business context This chapter began with an image of Justice ho...
2.5 Deontology: Ethics as Duty
LEARNING OBJECTIVES By the end of this section, you will be able to: Explain Immanuel Kant’s concept of duty and the categorical imperative Differentiate between utilitarianism and deontology Apply a model of Kantian business ethics Unlike Ben...
Key Terms
categorical imperative Kant’s unconditional precept that we must “act only according to that maxim whereby you can, at the same time, will that it should become a universal law”; to act on the basis of good will rather than purely self-interested motives an...
2.4 Utilitarianism: The Greatest Good for the Greatest Number
LEARNING OBJECTIVES By the end of this section, you will be able to: Identify the principle elements of Jeremy Bentham’s utilitarianism Distinguish John Stuart Mill’s modification of utilitarianism from Bentham’s original formulation of it Evalua...
2.2 Ethical Advice for Nobles and Civil Servants in Ancient China
LEARNING OBJECTIVES By the end of this section, you will be able to: Identify the key features of Confucian virtue ethics Explain how Confucian virtue ethics can be applied to contemporary business The teachings and writings of Confucius (551–4...
1.1 Being a Professional of Integrity
LEARNING OBJECTIVES By the end of this section, you will be able to: Describe the role of ethics in a business environment Explain what it means to be a professional of integrity Distinguish between ethical and legal responsibilities Describe th...
2.1 The Concept of Ethical Business in Ancient Athens
LEARNING OBJECTIVES By the end of this section, you will be able to: Identify the role of ethics in ancient Athens Explain how Aristotelian virtue ethics affected business practices It would be hard to overstate the influence of ancient Athen...
Introduction
Figure 2.1 Their accuracy and practical use in the marketplace made scales, held aloft here by the figure of Justice in Bruges, Belgium, a common symbol in jurisprudence and law in the East and the West. Even today, the concept of counterbalancing diff...
Endnotes
1. Ikujiro Nonaka and Hirotaka Takeuchi, “The Big Idea: The Wise Leader,” Harvard Business Review, May 2011. https://hbr.org/2011/05/the-big-idea-the-wise-leader 2. Jia Lynn Yang, “Maximizing Shareholder Val...
Assessment Questions
1. Which of these concepts relates to utilitarianism? consequences actions character duty correct answer 1. A 2. True or false? According to the Greek system of logic introduced by Socrates, normative ethical theori...
Summary
1.1 Being a Professional of Integrity Ethics sets the standards that govern our personal and professional behavior. To conduct business ethically, we must choose to be a professional of integrity. The first steps are to ask ourselves how we define success a...
Key Terms
business ethics the conduct by which companies and their agents abide by the law and respect the rights of their stakeholders, particularly their customers, clients, employees, and the surrounding community and environment compliance the extent to w...
1.3 Multiple versus Single Ethical Standards
LEARNING OBJECTIVES By the end of this section, you will be able to: Analyze ethical norms and values as they relate to business standards Explain the doctrine of ethical relativism and why it is problematic Evaluate the claim that having a sin...
1.2 Ethics and Profitability
LEARNING OBJECTIVES By the end of this section, you will be able to: Differentiate between short-term and long-term perspectives Differentiate between stockholder and stakeholder Discuss the relationship among ethical behavior, goodwill, and prof...
Introduction
Figure 3.1 Starbucks, based in Seattle, Washington, is a company with more than 250,000 employees and locations across the globe. It directly affects countless stakeholders beyond its institutional investors and millions of customers, from coffee growers and...