Summarized by Paul Porteners
The Morality of Commercial Life
Summarized by Paul Porteners
Book: Ethics and Business; An Introduction 2007 Kevin Gibson
Year of summary: 2016/2017
Contents
Chapter 1 – An overview of business ethics............................................................................................ 3
Approaches to morality ....................................................................................................................... 3
Instrumental or prudential approaches .......................................................................................... 3
Rule-based approaches ................................................................................................................... 3
Principle-based approaches ............................................................................................................ 3
Challenges ........................................................................................................................................... 4
Ethical relativism ............................................................................................................................. 4
Egoism ............................................................................................................................................. 4
Chapter 2 – Insights from ethical theory................................................................................................. 5
Justice .................................................................................................................................................. 5
1. Utilitarianism .................................................................................................................................. 5
2. Duty-based theories ........................................................................................................................ 6
Edward Freeman ............................................................................................................................. 6
Norman Bowie ................................................................................................................................. 6
3. Virtue theory ................................................................................................................................... 7
Chapter 3 – The capitalist system and its ethical implications ............................................................... 8
Features of capitalism ......................................................................................................................... 8
Market failures .................................................................................................................................... 8
(Business) consolidation .................................................................................................................. 8
Negative externalities...................................................................................................................... 9
Commons......................................................................................................................................... 9
Regulation of the market .................................................................................................................... 9
Globalization and its implications ....................................................................................................... 9
Chapter 4 – Feminism............................................................................................................................ 11
Essentialism ....................................................................................................................................... 11
Equality .............................................................................................................................................. 11
Issues in the workplace ..................................................................................................................... 11
The Morality of Commercial Life
Summarized by Paul Porteners
Book: Ethics and Business; An Introduction 2007 Kevin Gibson
Year of summary: 2016/2017
Contents
Chapter 1 – An overview of business ethics............................................................................................ 3
Approaches to morality ....................................................................................................................... 3
Instrumental or prudential approaches .......................................................................................... 3
Rule-based approaches ................................................................................................................... 3
Principle-based approaches ............................................................................................................ 3
Challenges ........................................................................................................................................... 4
Ethical relativism ............................................................................................................................. 4
Egoism ............................................................................................................................................. 4
Chapter 2 – Insights from ethical theory................................................................................................. 5
Justice .................................................................................................................................................. 5
1. Utilitarianism .................................................................................................................................. 5
2. Duty-based theories ........................................................................................................................ 6
Edward Freeman ............................................................................................................................. 6
Norman Bowie ................................................................................................................................. 6
3. Virtue theory ................................................................................................................................... 7
Chapter 3 – The capitalist system and its ethical implications ............................................................... 8
Features of capitalism ......................................................................................................................... 8
Market failures .................................................................................................................................... 8
(Business) consolidation .................................................................................................................. 8
Negative externalities...................................................................................................................... 9
Commons......................................................................................................................................... 9
Regulation of the market .................................................................................................................... 9
Globalization and its implications ....................................................................................................... 9
Chapter 4 – Feminism............................................................................................................................ 11
Essentialism ....................................................................................................................................... 11
Equality .............................................................................................................................................. 11
Issues in the workplace ..................................................................................................................... 11
