Business Ethics IES3
Table of Contents
Module 1 | Business Ethics Intro ........................................................................... 2
What is Business Ethics? ............................................................................................ 2
Exploring Ethical Dilemmas ........................................................................................ 2
Business Ethics and Globalization ............................................................................... 2
Globalization’s Impact on Business Ethics ................................................................... 3
International Approaches to Business Ethics ............................................................... 3
Module 2 | Business Ethics and Sustainability ....................................................... 3
Why Sustainability Matters ......................................................................................... 3
The Triple Bottom Line: 3 Parts of Sustainability ........................................................... 4
Environmental Perspective ........................................................................................................... 4
Economic Perspective ................................................................................................................. 4
Social Perspective ....................................................................................................................... 5
Module 3 | CSR and CC ........................................................................................ 5
CORPORATE SOCIAL RESPONSIBILITY (CSR) ................................................................ 5
1. Why might it be argued that corporations have social as well as financial responsibilities? ..... 5
2. What is the nature of (CSR) these responsibilities?................................................................ 7
CSR DiHerent Perspectives .......................................................................................................... 8
The Concept of CORPORATE CITIZENSHIP (CC) ............................................................ 9
Extended View in CC .................................................................................................................... 9
Module 4 | Ethical Theories ................................................................................ 10
Ethical Theories ........................................................................................................ 10
Types of Ethical Theories........................................................................................... 10
Consequentialist Theories ......................................................................................................... 10
Non-Consequentialist Theories .................................................................................................. 11
, Module 1 | Business Ethics Intro
What is Business Ethics?
• Definition: Business ethics is about doing what’s right in business. It involves
making decisions that are good for people, the planet, and society, not just for
profit. Ethical business practices consider how actions a@ect employees,
customers, the environment, and the broader community.
• Key Thought: “Ethics equals rational consensus,” suggesting that ethical
standards are often defined by what society collectively considers rational and
fair.
Exploring Ethical Dilemmas
• Example Scenario: “No such think as a free drink?” introduces an ethical
dilemma, likely illustrating a situation where decisions have moral implications,
even if they appear trivial.
Simple Explanation: The choice involves balancing benefits and ethical principles.
• Key Insight: Ethical dilemmas arise when a business decision is challenging
because it involves a trade-o@ between profit and doing what’s morally right.
Business Ethics and Globalization
• Definition of Globalization: It is the integration of political, social, and
economic interactions across borders.
• Pros and Cons:
o Pros: Increased market access, cultural exchange, and technological
advancement.
o Cons: Possible exploitation of developing countries, “race to the bottom”
in labor and environmental standards.
• Race to the Bottom: This term describes companies searching for countries
with the least restrictions to reduce costs, which may lead to weaker worker
protections or environmental standards.
Table of Contents
Module 1 | Business Ethics Intro ........................................................................... 2
What is Business Ethics? ............................................................................................ 2
Exploring Ethical Dilemmas ........................................................................................ 2
Business Ethics and Globalization ............................................................................... 2
Globalization’s Impact on Business Ethics ................................................................... 3
International Approaches to Business Ethics ............................................................... 3
Module 2 | Business Ethics and Sustainability ....................................................... 3
Why Sustainability Matters ......................................................................................... 3
The Triple Bottom Line: 3 Parts of Sustainability ........................................................... 4
Environmental Perspective ........................................................................................................... 4
Economic Perspective ................................................................................................................. 4
Social Perspective ....................................................................................................................... 5
Module 3 | CSR and CC ........................................................................................ 5
CORPORATE SOCIAL RESPONSIBILITY (CSR) ................................................................ 5
1. Why might it be argued that corporations have social as well as financial responsibilities? ..... 5
2. What is the nature of (CSR) these responsibilities?................................................................ 7
CSR DiHerent Perspectives .......................................................................................................... 8
The Concept of CORPORATE CITIZENSHIP (CC) ............................................................ 9
Extended View in CC .................................................................................................................... 9
Module 4 | Ethical Theories ................................................................................ 10
Ethical Theories ........................................................................................................ 10
Types of Ethical Theories........................................................................................... 10
Consequentialist Theories ......................................................................................................... 10
Non-Consequentialist Theories .................................................................................................. 11
, Module 1 | Business Ethics Intro
What is Business Ethics?
• Definition: Business ethics is about doing what’s right in business. It involves
making decisions that are good for people, the planet, and society, not just for
profit. Ethical business practices consider how actions a@ect employees,
customers, the environment, and the broader community.
• Key Thought: “Ethics equals rational consensus,” suggesting that ethical
standards are often defined by what society collectively considers rational and
fair.
Exploring Ethical Dilemmas
• Example Scenario: “No such think as a free drink?” introduces an ethical
dilemma, likely illustrating a situation where decisions have moral implications,
even if they appear trivial.
Simple Explanation: The choice involves balancing benefits and ethical principles.
• Key Insight: Ethical dilemmas arise when a business decision is challenging
because it involves a trade-o@ between profit and doing what’s morally right.
Business Ethics and Globalization
• Definition of Globalization: It is the integration of political, social, and
economic interactions across borders.
• Pros and Cons:
o Pros: Increased market access, cultural exchange, and technological
advancement.
o Cons: Possible exploitation of developing countries, “race to the bottom”
in labor and environmental standards.
• Race to the Bottom: This term describes companies searching for countries
with the least restrictions to reduce costs, which may lead to weaker worker
protections or environmental standards.
