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The second edition of Business Ethics introduces readers to key ethical issues that arise within the world of business, providing a strong theoretical foundation as well as real world applications. This new edition has been greatly revised, and includes new sections on the financial services industry, globalization, and global economic justice.
- An accessible introduction for beginners, offering a combination of important established essays and new essays commissioned especially for this volume
- Greatly revised - more than half of the selections are new to this edition. Newly commissioned essays address information technology, global economic justice and globalization, stakeholder theory, the corporation as an individual, and other topics
- Uses diverse, authentic business cases to illustrate discussion of concepts
- Cases have been updated to reflect current problems and issues
- Provides students with guidance and tools to write their own case study essays
- Readings are presented to progressively develop the reader's ability to read and apply ethical theory by writing case responses from different vantage points
Table of Contents
Preface to the Second Edition xiii
Source Credits xv
1 Ethical Reasoning 1
2 Theories of Economic Justice 12
Marxian Liberalism 13
Reframing the Commonwealth: Commercial or Civic 32
Marvin T. Brown
Evaluating a Case Study: Developing a Practical Ethical Viewpoint 45
3 What Is a Corporation? 51
A. The Corporation as an Individual 55
Can a Corporation Have a Conscience? 55
Kenneth E. Goodpaster and John B. Matthews Jr.
The Corporation as a Moral Person 63
Peter A. French
Personalizing Corporate Ontology: The French Way 72
Citizens United v. FTC (U.S. Supreme Court Case, 2010) 81
B. The Corporation as a Community: Stakeholder Theory 87
Corporations as Communities 87
Business Ethics and Stakeholder Analysis 95
Kenneth E. Goodpaster
Stakeholders and Consent 108
A Fiduciary Argument against Stakeholder Theory 114
Alexei M. Marcoux
Evaluating a Case Study: Finding the Conflicts 136
4 What Are Proper Business Practices? 142
A. Competition and the Practice of Business 145
The Janus Faces of Competition 145
The Principle of Fair Competition 155
B. Advertising 163
The Advertising of Happiness and the Branding of Values 163
Edward H. Spence
A Model to Explore the Ethics of Erotic Stimuli in Print Advertising 176
Tony L. Henthorne and Michael S. LaTour
C. Information Technology 187
The Importance of Information in Business Ethics 187
Workplace Monitoring and Surveillance: The Problem of Trust 197
Evaluating a Case Study: Assessing Embedded Levels 214
5 Ethical Issues within the Corporation 223
A. Working Conditions 228
Of Acceptable Risk 228
William W. Lowrance
Working Conditions in Home Care: Negotiating Race and Class Boundaries in Gendered Work 235
Sheila M. Neysmith and Jane Aronson
Sneakers and Sweatshops: Holding Corporations Accountable 247
David M. Schilling
B. Affirmative Action 252
Preferential Hiring 252
Judith Jarvis Thomson
Preferential Hiring: A Reply to Judith Jarvis Thomson 257
The Future of Affirmative Action 259
C. Gender Issues 266
In Shouts and Whispers: Paradoxes Facing Women of Colour in Organizations 266
Compensation Inequality 275
D. Whistle-Blowing 288
Mad as Hell or Scared Stiff ? The Effects of Value Conflict and Emotions on Potential Whistle-Blowers 300
Evaluating a Case Study: Applying Ethical Issues 311
6 The Context of Business: Nationally and Internationally 321
A. The Financial Services Industry 325
Ethics in Financial Services: Systems and Individuals 325
Derivatives and the Financial Crisis: Ethics, Stewardship, and Cultural Politics 339
David E. McClean
Madoff and Kreuger: Fraud Theories, Red Flags, and Due Diligence in the Auditing Process 356
Behnaz Z. Quigley and Mary Jane Eichorn
B. Global Business: Bribing 370
Bribery and Implicit Agreements: A Reply to Philips 384
Thomas L. Carson
What’s Wrong with Bribery? 387
C. Globalization 390
Economic Globalization: An Empirical Presentation and a Moral Judgment 390
Multinational Enterprises and Incomplete Institutions: The Demandingness of Minimum Moral Standards 409
Evaluating a Case Study: Structuring the Essay 423
Further Reading 430