Phi2397 Final Exam 3 Study Guide

Business Ethics comprises two sets of concerns - Ethical/Moral Issues A. For Individuals -- As employers/employees/consumers - Business ethics in its basics sense Ex. a. Enron - If employee know book are "being cooked", false accounting, blow the whistle? b. Hiring, Firing - What are rights, duties? c. Advertising marketing - What is effective and fair? What is misrepresentation? B. For business vis-a-vis government/society - This is business ethics in a broad sense a. Causes of recession, what to do - More regulation? Less? b. Should government bail out failing companies? As it did, US, Canada. Etc. c. Taxing corporations - Reasons, levels, effects? d. CEO Pay - Too high, or no reason to limit? Materials, Kinds of reading 1. Principles and theories about - a. Ethics/Morality - For evaluating what is decisions as employee/employer b. Nature of Business & government - For evaluating social-political policies 2. Business situations/Legal cases Two Initial General Ideas 1. Corporate SoĐial Responsiďility ;CSRͿ, not just profits…? a. Valid Idea? b. Misleading Idea? 2. Stakeholders, not just shareholders/stoĐk owner…? a. Who are "stakeholders"? b. Should their views define corporations aims? c. Why/ Why not? For CSR, Origins  1960s - Ralph Nader - Consumers movement vs. General Motors re-safety o Ralph Nader, book (1965)  Unsafe at Any Speed - The Designed-In Dangers of the American Automobile Reaction by General Motors' Corporations  Nader sues GM for "invasion of privacy"  GM fights case then settles, paying Nader $425,000  Nader and others use shareholder status to try to promote CSR concerns in GM and elsewhere