3308Chap2outline.

3308Chap2outline. - 2 The Ethical Basis of Law and Business...

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Unformatted text preview: 2 The Ethical Basis of Law and Business Management SEC Investigations (2002) 0. Accounting 0. 1. 2. 3. 4. 5. 6. 7. 8. 9. Arthur Andersen Deloitte & Touche Ernst & Young KPMG PriceWaterhouse Coopers CMS Energy Dynergy Enron Halliburton Reliant Resources 1. Energy Corporate Scandal Fines Contemporary Business Ethics 0. Ethics & Society 0. Shared Values- Economic Interdependence 1. Diversity/International Business Fosters Differing Values 2. Media Exposure 3. Values Declining? 4. Society Fails- Gov't Steps In 5. Increased Regulation 1. Ethics & Government Nature Of Ethics 2. Morality- Society's Value System 3. Law 6. Determines Proper Behavior 7. Good v. Bad 8. Rules Of Conduct/Cooperation 9. External Motivator Ethical Systems 0. Not Mutually Exclusive 1. Formalism- (Deontology) Absolute Morality, Duty 0. 1. 2. 3. Focus On Worth Of Individual Categorical Imperative/Golden Rule/Kant Social Contract The Protestant ethic rooted here 2. Consequentialism- (Teleology) Consequences Of Actions 4. Utilitarianism 5. Protestant Ethic- Capitalism Ethical Systems Comparisons Value Sources Of Business Ethics 0. Legal Regulation 1. Professional Codes Of Ethics 2. Organizational Codes Of Ethics 3. Individual Values Basis Of Legal Regulation 0. Liberty & Rights 1. Good Faith 2. Due Care 3. Confidentiality 4. Conflicts Of Interest Professional Codes Of Ethics 4. Historic Tradition 5. Self-Regulation 6. Examples 0. American Bar Association 1. American Institute Of Certified Public Accountants Organizational Codes Of Ethics 7. Lack Of Industry Codes 8. Self-Regulation Requires: 9. Provide For Sanctions When Violated 2. Enthusiasm 3. Commitment Individual Values: Self-Examination 3. My Actions Right/Wrong? 4. Proud To Tell My Family? Employer? News Media? 5. Should Everyone Act As I Am Thinking? 6. Cause Harm To Others Or Environment? 7. Violate The Law? Achieving Ethical Business Corporation 4. Obstacles 10. Emphasis On Profit- Creates Conflict/Pressure 11. Effect Of Group- No Individual Responsibility 12. Non-Owner Control Of Resources 13. Involve Top Management- Role Model 14. Open Communication- Complex Information 5. Steps To Take Stakeholder Consideration 6. Stakeholder Theory(Consequentialism) 7. Rewards 15. Business Ethics = Profitability 16. Ethics = Business Asset 17. Business Community Concern- Sensitive To Society's Changes 18. Ethics = Leadership Property 10. Morality- Communism v. Capitalism 11. System Of Personal EthicsGuides Relations Between People Business Decision: PharmCo's Dilemma 0. If Studies Show No Side Effects, Ethical To Tell Researchers To Stay Quiet About Concerns? 1. Ethical To Put Animals At Risk To Test Drug Safety? ...
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