BMGTmidterm - CommunityEthicalNorms:

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Community Ethical Norms: Self interested decision making : “laissez-faire”  Utilitarianism : maximize welfare of all parties (Bentham and Stuart Mill) Individual Rights : respect on all affected parties legitimate rights (basic rights) o Private property, general obligations, freedom of contract Trust and Caring : respect trust placed in them by all parties affected by their decision Justice : distribute costs/benefits as equally as possible among all parties Ford Pinto Case: Designed pinto car to compete with cheap Japanese cars Rupturing gas tank, but had correct regulations To fix gas tank, require increase in price, delayed production Ford kept producing, known effects, sales suffered, revenues decreased Law suits Peanut Corporation of America:  had someone test peanut butter, came out negative, kept  having peanut butter tested until positive Corporate Governance:  Set of processes customs, laws affecting how corporations are  controlled Sarbanes Oxley Act of 2002: Protect investors in public corporation in United States by improving accuracy/reliability 
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This note was uploaded on 12/01/2010 for the course BMGT 301 taught by Professor Wang during the Spring '08 term at Maryland.

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BMGTmidterm - CommunityEthicalNorms:

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