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Unformatted text preview: Truth-Telling
Shannon Wyatt Chelsea Forrest Barkha Patel Truth in Business Ethics Truth: actuality, an obvious or accepted fact, truism, integrity... As a team, we have noticed from the readings, videos, and past experiences that truth (according to the definition) rarely exists in the business world. What you do think about this claim? "Cynthia Cooper and Worldcom" by Mead and Werhane Situation: In 2002, Cooper was the VP of Internal Audit and she found out that the corporation $4 billion in questionable accounting entries. To keep her job, should she not investigate further and remain silent? Or should she risk the integrity of the company and fate of other employees to tell the truth? What would you do if you were in her position? Satire: The Truth in Ad Sales This video mocks a media agency by showcasing the amount of lies and deception in a normal day. http://www.youtube.com/watch?v= fclYmVaORbM "Is Business Bluffing Ethical?" by Albert Carr Summation: In business, there is an outright falsehold and deceptive atmosphere. The concealment of truth is common. The purpose of business is to maximize profits through selfinterests. Example story: Page 1378 Magazine story Poker Analogy and Game Theory Poker Analogy: The game of poker is similar to the game of business. Business is a similar competition. Game Theory or Prisoner's Dilemma: Someone will always cheat to maximize his/her own profits. The theory relates to business practices. "The Business of Ethics" by Norman Chase Gillespie Summary: He provides his perspective on the moral standards in business countering Carr's position that ethics doesn't exist in business. Gillespie stresses ordinary moral reasoning over conventionalism. Gillespie's Rules/Reasons about telling the truth
1. 2. 3. If a business practice is not illegal, it is thereby ethically acceptable. If a businessman does not take advantage of a legal opportunity, others will surely do so. If a practice is so widespread as to constitute the norm, everyone accepts conformity. "Italian Tax Mores" Situation: The Italian companies understate their profits so that they can negotiate the amount of taxes they pay. An American corporation did not follow this norm and actually wrote the proper figures. The Italian government was confused by this unprecedented action. If you were the American company, would you follow the norm or tell the truth? Supercapitalism According to Chapters 1 and 2, Reich believes that democracy is dying due to capitalism. We believe that the theory behind capitalism is corrupted by those who practice in it. Bhopal Disaster Background information: Dowowned Union Carbide (a pesticide plant) in Bhopal, India was had a massive gasleak resulting in the deaths of 18,000 people and over 120,000 wounded. Dow finally accepts responsibility of unsafe working conditions. http://www.youtube.com/watch?v=LiWlvBro9eI http://www.youtube.com/watch? v=0lScyQYUHLA&feature=related The End Hope you understand the readings better and find the relation between truth and business fascinating! ...
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- Spring '09