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Ethics and the Conduct of Business

by
Edition:
4th
ISBN13:

9780130991591

ISBN10:
0130991597
Format:
Paperback
Pub. Date:
1/1/2003
Publisher(s):
Prentice Hall
List Price: $83.80

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This is the 4th edition with a publication date of 1/1/2003.
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Summary

This comprehensive and balanced book gives a thorough treatment of the most prominent issues of business ethics and the major positions and arguments on these issues. An abundance of case studies help illustrate topics such as: whistle-blowing, discrimination and affirmative action, occupational health and safety, ethics in finance, and ethics in international business. For professionals in the field who want an up-to-date discussion of the most prominent issues of business ethics.

Table of Contents

Preface ix
Acknowledgments xi
Ethics in the World of Business
1(28)
Johnson & Johnson: The Tylenol Crisis
1(2)
Introduction
3(1)
Four Business Decisions
3(9)
Business Decision Making
4(8)
The Ethics of Hardball
12(11)
Ethics, Economics, and Law
13(5)
Ethics and Management
18(4)
Morality, Ethics, and Ethical Theory
22(1)
A Sticky Situation
23(2)
Argus Incorporated: A Leasing Triangle
25(4)
Utilitarianism
29(20)
Lockheed in Japan
29(15)
Introduction
30(1)
Two Types of Ethical Theories
31(3)
Classical Utilitarianism
34(2)
The Forms of Utilitarianism
36(3)
Cost-Benefit Analysis
39(5)
Exporting Pollution
44(1)
Beech-Nut's Bogus Apple Juice
45(4)
Kantian Ethics, Rights, and Virtue
49(22)
Big Brother at Procter & Gamble
49(17)
Introduction
51(1)
Kant's Ethical Theory
51(6)
The Concept of a Right
57(4)
Virtue Ethics
61(5)
Clean Hands in a Dirty Business
66(2)
An Auditor's Dilemma
68(3)
Justice and the Market System
71(30)
Green Giant Runs for the Border
71(22)
Introduction
73(1)
Aristotle's Analysis of Justice
74(3)
Utility and Justice
77(2)
The Egalitarian Theory of John Rawls
79(5)
Utility and The Market System
84(5)
The Libertarian Justification of the Market
89(4)
Executive Compensation
93(2)
Merck and AIDS in South Africa
95(6)
Whistle-Blowing
101(24)
Two Whistle-Blowers
101(19)
Introduction
103(1)
What is Whistle-Blowing?
104(2)
The Justification of Whistle-Blowing
106(5)
The Conditions for Justified Whistle-Blowing
111(3)
Is There a Right to Blow the Whistle?
114(4)
Developing a Company Whistle-Blowing Policy
118(2)
A Whistle-Blower Accepts a ``Deal''
120(1)
Better Late than Never?
121(4)
Trade Secrets and Conflict of Interest
125(30)
The Aggressive Ad Agency
125(25)
Introduction
127(1)
The Definition of a Trade Secret
127(1)
The Arguments for Trade Secret Protection
128(8)
Competitor Intelligence Gathering
136(2)
Conflict of Interest
138(9)
Managing Conflict of Interest
147(3)
The Conflict of an Insurance Broker
150(1)
Procter & Gamble Goes Dumpster Diving
151(4)
Privacy
155(32)
Psychological Testing at Dayton Hudson
155(24)
Introduction
156(1)
Challenges to Privacy
157(4)
The Concept of Privacy
161(3)
The Value of Privacy
164(4)
The Privacy of Employee Records
168(5)
Privacy on the Internet
173(6)
Three Challenges to Employee Privacy
179(1)
Ford Meter Box
180(1)
Lotus MarketPlace: Households
181(6)
Discrimination and Affirmative Action
187(32)
Discrimination at Texaco
187(26)
Introduction
189(1)
What is Discrimination?
190(6)
Ethical Arguments Against Discrimination
196(2)
Avoiding Discrimination
198(5)
Affirmative Action
203(10)
Conclusion
213(1)
The Alaskan Salmon Cannery
213(2)
The Walkout at Wilton's
215(4)
Women and Family Issues
219(30)
Jacksonville Shipyards
219(9)
Introduction
221(1)
Sexual Harassment
222(6)
Sexual Harassment or Business as Usual?
228(11)
Comparable Worth
229(10)
The Mommy Track
239(6)
Family and Work
240(5)
Is Family-Friendly Always Fair?
245(4)
Unjust Dismissal
249(24)
The Firing of Robert Greeley
249(19)
Introduction
250(1)
Property Rights and Employment at Will
251(3)
Property Rights and Democracy
254(3)
The Freedom of Contract Argument
257(8)
Protecting Against Unjust Dismissal
265(3)
Waiving the Right to Sue
268(1)
A ``State-of-the-Art'' Termination
269(4)
Marketing, Advertising, and Product Safety
273(38)
Dow Corning's Breast Implants
273(30)
Introduction
275(1)
Ethical Issues in Marketing
275(7)
Advertising
282(11)
Product Liability
293(10)
Volvo's ``Bear Foot'' Misstep
303(1)
The Target Marketing of Cigarettes
304(7)
Occupational Health and Safety
311(28)
The Regulation of Benzene
311(10)
Introduction
312(1)
The Scope of the Problem
313(2)
The Right to a Safe and Healthy Workplace
315(6)
Whirlpool Corporation
321(8)
The Right to Know About and Refuse Hazardous Work
322(7)
Johnson Controls, Inc.
329(10)
The Problem of Reproductive Hazards
330(9)
Ethics in Finance
339(30)
Pacific Lumber Company
339(23)
Introduction
340(1)
Financial Services
340(5)
Financial Markets
345(5)
Insider Trading
350(4)
Hostile Takeovers
354(8)
E. F. Hutton
362(3)
Salomon Brothers
365(4)
Ethics and Corporations
369(42)
The Nun and the CEO
369(23)
Introduction
371(1)
Corporate Social Responsibility
372(9)
Corporate Governance
381(11)
Bath Iron Works
392(10)
Corporate Ethics Programs
394(8)
Sears Auto Centers
402(2)
Campbell Soup Company
404(7)
International Business Ethics
411(35)
Nike in Southeast Asia
411(28)
Introduction
412(1)
What to do in Rome
413(9)
Wages and Working Conditions
422(5)
Foreign Bribery
427(4)
Cultural Differences
431(8)
H. B. Fuller in Honduras
439(2)
Shell Oil in Nigeria
441(5)
Index 446

Excerpts

The field of business ethics has grown in recent years into an interdisciplinary area of study that has found a secure niche in both the liberal arts and business education. Credit for this development belongs to many individuals--both philosophers and business scholars--who have succeeded in relating ethical theory to the various problems of ethics that arise in business. They have shown not only that business is a fruitful subject for philosophical exploration, but also that practicing managers in the world of business can benefit from the results. Ethics and the Conduct of Business,fourth edition, is a comprehensive and up-to-date discussion of the most prominent issues in the field of business ethics and the major positions and arguments on these issues. It is intended to be used as a text in a philosophical business ethics course or one taught in a school of business, on either the undergraduate or M.B.A. level. The substantial number of cases included provides ample opportunity for a case study approach or a combined lecture-discussion format. There has been no attempt to develop a distinctive ethical system or to argue for specific conclusions. The field of business ethics is marked by reasonable disagreement that should be reflected in any good textbook. The focus ofEthics and the Conduct of Businessis primarily on ethical issues that corporate decision makers face in developing policies about employees, customers, and the general public. The positions on these issues and the arguments for them are taken from a wide variety of sources, including economics and the law. The study of ethical issues in business is not confined to a single academic discipline or to the academic world. The issues selected for discussion are widely debated by legislators, judges, government regulators, business leaders, journalists, and, indeed, virtually everyone with an interest in business. An underlying assumption of this book is that ethical theory is essential for a full understanding of the positions and arguments offered on the main issues in business ethics. Fortunately, the amount of theory needed is relatively small, and much of the discussion of these issues can be understood apart from the theoretical foundation provided here. The book also contains a substantial amount of legal material, not only because the law addresses many ethical issues, but also because management decision making must take account of the relevant law. Many examples are used throughout the book in order to explain points and show the relevance of the discussion to real-life business practice. Preparing the fourth edition ofEthics and the Conduct of Businessprovides an opportunity to incorporate new developments and increase its value in the classroom. The most significant changes are the addition of a new chapter on ethics in finance and an overhaul of the chapter on international business ethics. Although finance involves many substantial ethical issues, the field of ethics in largely unformed. As a result the topic has been neglected in business ethics textbooks. The material in this chapter is adopted from my own workEthics in Finance(Blackwell Publishers, 1999), which is the first textbook in the field. Except for the section on insider trading, which has been retained from previous editions, the chapter on ethics in finance contains new material covering ethical issues in financial markets, financial services, and hostile takeovers, with cases on the takeover of Pacific Lumber, check-kiting at E.F. Hutton, and the bond trading scandal at Salomon Brothers. International business ethics is perhaps the fastest growing area in business ethics, and so a revised treatment is appropriate with a new edition. Because the problem of international "sweatshops" has received great attention in recent ears, this chapter begins with a case on Nike and includes a section on the topic of forei


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