Chap002

The Legal and Regulatory Environment of Business

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Chapter 02 - The Ethical Basis of Law and Business Management CHAPTER 2 THE ETHICAL BASIS OF LAW AND BUSINESS MANAGEMENT I. LEARNING OBJECTIVES The primary objective of this chapter is to emphasize the growing importance of ethics to business conduct. The second objective is to provide an historical and philosophical framework for the study of ethics. The third objective is to furnish business students with a personal framework for ethical decision making. To achieve its objectives the chapter discusses the relationship between morals and ethics and then of ethics and law. Formalism and consequentialism, the two principal schools of ethical thought, are developed. Sources of ethical values are explored. The difficulties of ethical decision making within large business organizations are examined. The chapter concludes with a discussion of the morality of property. Throughout the instruction of this chapter make the students understand that the desire to lead a "good" or ethical life is of utmost importance to actually leading one. II. REFERENCES Barry, Norman P., Business Ethics . Lafayette, Ind.: Purdue University Press (2000). Berenbeim, Ronald, Company Programs for Resisting Corrupt Practices: A Global Study . NY: Conference Board (1999). Bowie, Norman and Patricia Hogue, Management Ethics . Blackwell Pub. (2004). Carroll, Archie B. and Ann K. Buckholtz, Ethics and Stakeholder Management , 4th ed. SouthWestern (2000). Donaldson, T., et al, Ethical Issues in Business , 8th ed. Englewood Cliffs, NJ: Prentice Hall (2006). Maidment, Frederick and William Ethridge, Business in Government & Society: Ethical, International Decisionmaking . Englewood Cliffs, NJ: Prentice Hall (2000). Hartman, L. P. and DesJardins, Business Ethics. McGraw Hill (2007). 2-1
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Chapter 02 - The Ethical Basis of Law and Business Management Pojman, Louis P., The Moral Life . Oxford U. Pr. (2003). Shaw, William H. and Vincent Barry, Moral Issues in Business , 8th ed. Belmont, CA: Wadsworth (2001). Williams, O.F. and J.W. Hauck, The Common Good and U.S. Capitalism . Lanham, MD: University Press of America (1987). Wines, William A., Ethics, Law, and Business . Lawrence Erlbaum (2006). lll. TEACHING OUTLINE CONTEMPORARY BUSINESS ETHICS 1. Ethics and Society A. Emphasize : (1) How cultural pluralism makes a common system of personal ethics unlikely. (2) That sociological factors, including family decline, have led to ethical concern. (3) How the news media play an increasingly important role in revealing lapses of business ethics. B. Additional Matters for Discussion (1) A 2002 Gallup poll reported that only 17% of Americans gave business executives high marks for honesty and ethics. By 2003, the figure was 13%. (2) John Drummond, director of the London-based Integrity Works, observes that the "delayering" of contemporary corporations and increasing delegation of decision- making means that ever greater numbers of employees are being faced today by tough ethical choices.
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