CONTENTS
Preface xi
Chapter One: Why Study Ethics? 1
Chapter Objectives 1
Discussion Case: Enron 2
Discussion Questions 2
1 Why Study Business Ethics? 3
2 Values and Ethics: Doing Good and Doing Well 5
3 The Nature and Goals of Business Ethics 8
4 Business Ethics and the Law 10
5 Ethics and Ethos 12
6 Morality, Virtues, and Social Ethics 13
7 Ethical Perspectives: Managers and Other Stakeholders 14
Reflections on the Chapter Discussion Case 15
Review Questions 16
Chapter Two: Ethical Theory and Business 17
Chapter Objectives 17
Discussion Case: Executive Compensation 18
Discussion Questions 20
1 Introduction 21
2 Ethical Relativism and Reasoning in Ethics 22
3 Psychological Egoism 26
4 Modern Ethical Theory: Utilitarian Ethics 29
5 Challenges to Utilitarianism 33
6 Utilitarianism and Business Policy 36
7 Deontological Ethics 38
8 Virtue Ethics 42
9 Summary and Review 44
Reflections on the Chapter Discussion Case 46
Review Questions 47
Chapter Three: Corporate Social Responsibility 48
Chapter Objectives 48
Discussion Case: Wal-Mart 49
Discussion Questions 52
1 Introduction 52
2 The Classical Model of Corporate Social Responsibility 53
3 Critical Assessment of the Classical Model:
The Utilitarian Defense 55
4 Critical Assessment of the Classical Model:
The Private Property Defense 61
5 Modified Version of the Classical Model: The Moral Mir umirn 64
6 The Stakeholder Theory 66
7 Summary and Review 70
Reflections on the Chapter Discussion Case 71
Review Questions 72
Chapter Four: The Meaning and Value of Work 75
Chapter Objectives 75
Discussion Case: Great Jobs and Meaningful Jobs 76
Discussion Questions 78
1 Introduction 78
2 The Meanings of Work 80 .
3 The Value of Work 82
4 Conventional Views of Work 85
5 The Human Fulfillment Model 87
6 The Liberal Model of Work 90
7 Business's Responsibility for Meaningful Work 92
Reflections on the Chapter Discussion Case 94
Review Questions 94
Chapter Five: Moral Rights in the Workplace 97
Chapter Objectives 97
Discussion Cases: Employee Rights and Wrongs 98
Discussion Questions 98
1 Introduction: Employee Rights 99
2 The Right to Work 100
3 Employment at Will 104
4 Due Process in the Workplace 106
5 Participation Rights 109
6 Employee Health and Safety 112
7 Privacy in the Workplace 117
Reflections on the Chapter Discussion Cases 120
Review Questions 122
Chapter Six: Employee Responsibilities 124
Chapter Objectives 124
Discussion Case: Professional and Managerial Responsibility
at Enron and Arthur Andersen 125
Discussion Questions 129
1 Introduction 129
2 The Narrow View of Employee Responsibilities:
Employees as Agents 130
3 Professional Ethics and the Gatekeeper Function 135
4 Managerial Responsibility and Conflicts of Interests 138
5 Trust and Loyalty in the Workplace 141
6 Responsibilities to Third Parties: Honesty, Whistleblowing,
and Insider Trading 144
Honesty 144
Whistleblowing 146
Insider Trading 147
Reflections on the Chapter Discussion Case 149
Review Questions 151
Chapter Seven: Marketing Ethics: Product Safety and Pricing 153
Chapter Objectives 153
Discussion Case: Safety and Pricing in the Pharmaceutical Industry154
Discussion Questions 157
1 Introduction: Marketing and Ethics 157
2 Ethical Issues in Marketing: An Overview 159
3 Ethical Responsibility for Products: From Caveat Emptor to Negligence 161
4 Strict Products Liability1 65
5 Ethics and Pricing 168
Reflections on the Chapter Discussion Case 172
Review Questions 173
Chapter Eight: Marketing Ethics: Advertising and
Target Marketing 175
Chapter Objectives 175
Discussion Case: Advertising and Marketing in
the Pharmaceutical Industry 176
Discussion Questions 179
1 Introduction: Ethics of Sales, Advertising, and Product Placement 180
2 Regulating Deceptive and Unfair Sales and Advertising 182
3 Marketing Ethics and Consumer Autonomy 185
4 Targeting the Vulnerable: Marketing and Sales 190
Reflections on the Chapter Discussion Case 195
Review Questions195
Chanter Six: Employee Responsibilities 124
Chapter Objectives 124
Discussion Case: Professional and Managerial Responsibility
at Enron and Arthur Andersen 125
Discussion Questions 129
61 Introduction129
2 The Narrow View of Employee Responsibilities:
Employees as Agents 130
3 Professional Ethics and the Gatekeeper Function 135
4 Managerial Responsibility and Conflicts of Interests 138
5 Trust and Loyalty in the Workplace 141
6 Responsibilities to Third Parties: Honesty, Whistleblowing,
and Insider Trading 144
Honesty 144
Whistleblowing 146
Insider Trading 147
Reflections on the Chapter Discussion Case 149
Review Questions 151
Chapter Seven: Marketing Ethics: Product Safety and Pricing 153
' Chapter Objectives 153
Discussion Case: Safety and Pricing in the Pharmaceutical Industry1 54
Discussion Questions 157
1 Introduction: Marketing and Ethics 157
2 Ethical Issues in Marketing: An Overview 159
3 Ethical Responsibility for Products: From Caveat Emptor
to Negligence 161
4 Strict Products Liability 165
5 Ethics and Pricing 168
Reflections on the Chapter Discussion Case 172
Review Questions 173
Chapter Eight: Marketing Ethics: Advertising and
Target Marketing 175
Chapter Objectives 175
Discussion Case: Advertising and Marketing in
the Pharmaceutical Industry 176
Discussion Questions 179
1 Introduction: Ethics of Sales, Advertising, and Product Placement 180
2 Regulating Deceptive and Unfair Sales and Advertising 182
3 Marketing Ethics and Consumer Autonomy 185
Targeting the Vulnerable: Marketing and Sales 190
Reflections on the Chapter Discussion Case 195
Review Questions195
Chapter Nine: Business's Environmental Responsibilities 198
Chapter Objectives 198
Discussion Case: Interface Corporation and Sustainable Business 199
Discussion Questions 200
1 Introduction: Environmental Responsibilities 200
2 Environmental Pragmatism: Towards a Consensus on
Environmental Responsibility 203
3 Corporate Social Responsibility and the Environment 206
4 Business's Responsibility as Environmental Regulation 210
5 Business's Ethics and Sustainable Economics 212
6 Business Ethics in the Age of Sustainable Development 216
7 Conclusions 219
Reflections on the Chapter Discussion Case 220
Review Questions 221
Chapter Ten: Diversity and Discrimination 222
Chapter Objectives 222
Discussion Case: Female Foreman and the Brotherhood223
Discussion Questions 225
1 Introduction: Diversity and Equality 225
2 Discrimination, Equal Opportunity, and Affirmative Action 227
3 Preferential Treatment in Employment 233
4 Arguments against Preferential Hiring 236
5 Arguments in Support of Preferential Hiring 240
6 Sexual Harassment in the Workplace 243
Reflections on the Chapter Discussion Case 247
Review Questions 248
Chapter Eleven: International Business and Globalization 250
Chapter Objectives 250
Discussion Case: Sweatshops 251
Discussion Questions 254
1 Introduction 254
2 Ethical Relativism and Cross-Cultural Values 255
3 Cross-Cultural Values and International Rights 258
4 Globalization and International Business 260
5 Globalization and the Poor 262
6 "Race to the Bottom" 264
7 Democracy, Cultural Integrity, and Human Rights 266
Reflections on the Chapter Discussion Case 269
Review Questions 270
Glossary Gl
Index II