Ethical Theory and Business

by Beauchamp, Tom L.; Bowie, Norman; Arnold, Denis

• ISBN13: 9780131116320
• ISBN10: 0131116320
• Edition: 7th
• Format: Paperback
• Copyright: 2009-01-01
• Publisher: Pearson College Div

Summary

"Ethical Theory and Business, 8/e "presents a comprehensive anthology of readings, legal perspectives, and cases in ethics in business. Focuses on providing and explaining the tools needed to deal with ethical dilemmas in business. The authors examine ethical theory and business practice, the purpose of the corporation, corporate character and individual responsibility, acceptable risk, the ethical treatment of employees, diversity and discrimination in the workplace, marketing and disclosure of information, ethical issues in information technology and, ethical issues in international business. This book is intended for those interested in examining the ethical challenges we face today.

Table of Contents

(NOTE: Each chapter contains an Introduction, Legal Perspectives, Cases and Suggested Supplementary Readings)

Ethical Theory and Business Practice

Fundamental Concepts and Problems

Normative Ethical Theory

Analysis of Cases

The Purpose of the Corporation

Stockholder Management versus Stakeholder Management

Which View Is Right?

Corporate Character and Individual Responsibility

Acceptable Risk

Consumer Risk

Investment Risk

Occupational Risk

Environmental Risk

Investment Risk

The Ethical Treatment of Employees

The Hiring and Firing of Employees

Privacy

Whistleblowing

Diversity and Discrimination in the Workplace

Diversity and Affirmative Action

Sexual Harassment

Marketing and Disclosure of Information

Advertising

Sales

Bluffing

Ethical Issues in Information Technology

Computers and Privacy

Technological Challenges to Intellectual Property

Ethical Issues in International Business

Universals, Relativism and the Problem of Bribery

Human Rights and the Multinational Corporation

Social and Economic Justice

Table of Contents provided by Publisher. All Rights Reserved.

Excerpts

When the sixth edition ofEthical Theory and Businesswas published, peace and prosperity Mined in America. The stock market was down from its record highs, but the gains in the various indices were still far above historical averages. Commentators referred to a new economy, and globalization was taken as a given not only in the business community but in the wider community as well. American markets were taken as the model of transparency, and many considered the American economy as the model to be followed nearly everywhere. As the seventh edition is published the world is very different. The September 11, 2001 terrorist attack imposed huge transaction costs on the U.S. economy and on most of the economies of the industrialized world. Globalization is under attack; the wisdom of the International Monetary Fund and the World Bank is in doubt. Wave upon wave of corporate scandals have undermined trust in the integrity of American markets. Major corporations tainted by scandal now include World Com, Enron, and Global Crossing; all are bankrupt or close to it. A record number of companies have restated their financial results. The accounting firm of Arthur Andersen for all practical matters no longer exists. The first edition ofEthical Theory and Businessappeared in 1979. A quarter of a century separates that edition from this new edition. Those 25 years have seen their share of business scandals and ethical controversies. However, none seems to have posed the ethical challenges we see today. We have revised our anthology to take account of this very changed environment. Chapter 3, the sixth edition chapter on regulation, now has a different focus--responsibility and accountability. Many argue that the key to ethical conduct in business is individual responsibility. If the actions of a businessperson have bad consequences, then it is argued that we should find the person responsible and hold him or her accountable. But recently emphasis has been on systems failure and organizational design. These perspectives remain in this chapter. However, that discussion has been enhanced by our addition of articles that debate whether a corporation can be held morally accountable independently and separately from individuals who work within the corporation. Even our discussion of the Federal Sentencing Guidelines is focused around this issue. This edition includes an entirely new chapter on Ethical Issues in Information Technology. The two key issues discussed in this chapter are privacy and intellectual property in the computer age. Any student who has downloaded music for free or purchased a product in e-commerce has confronted ethical issues. We believe this chapter is a significant addition to the seventh edition. Other changes include updated discussions of genetic testing in business, the electronic surveillance of employees, the responsibilities of international corporations to respect human rights, the place of diversity in the workforce, emerging issues in the problem of sexual harassment in the workplace, developments in responsibility for the environment, and the justification of capitalism. We believe these revisions keepEthical Theory and Businessin tune with the times in which we live. In addition to the Prentice Hall reviewers: James C. Peterson, Wingate University; Robert Prevost, Wingate University; and Donald P Casey, Felician College, several persons have played a crucial role in providing feedback for the seventh edition. Lester Myers has provided detailed feedback on all the articles in the sixth edition, and his influence has been felt as we made selections for this edition. Denis Arnold has worked closely with Norman Bowie for three editions. His experience in using the text and his insistence on the philosophical integrity of the selections has strengthened the seventh edition. In addition, Denis has contributed a number of cases. Finally, Jared Harris,