INSEAD Library

Includes bibliographical references and index and glossary

Digitized

Business Ethics and Ethical Business Contents Preface ix PART I THE ROLE OF BUSINESS IN A FREE DEMOCRACY 1. Two Democratic Traditions Foundations of Capitalism Two Conceptions of Democracy 3 3 4 2. The Rights and Social Responsibilities of Business The Moral Rights of Businesses A Proposal for Justifying Inequalities in Free Democracies Determining Ethical Obligations: Some Major Approaches Ethical Obligations and Legal Requirements 8 8 10 12 21 3. The Constituencies of Ethical Business Limitations of Ownership Rights The Interests of Stockholders The Multiple-Constituency View of the Corporation Constituents as "Stakeholders" 23 23 24 25 27 30 30 4. A Framework for Making Ethical Decisions Common-Sense Ethical Principles A Five-Step Model for Making Difficult Ethical Decisions 33 5. Ethical Business, Environmental Responsibility, and Sustainability The Value of the Environment The Ethical Importance of Future Generations The Ideal of Sustainability 43 43 44 45 48 48 49 6. Marketing: Product, Target, and Image Some Major Dimensions of Marketing Ethics Five Types of Ethical Problems in Marketing Insincerity, Deception, and Manipulation in Marketing Advertising and the Limits of Persuasive Representation The Ethics of Creating Desire The Interdependence of Marketing and Manufacturing Decisions Advertising and the Human Image 51 52 55 56 57 59 59 61 62 7. The Ethics of Financial Representation The Centrality of Accounting in Capitalist Democracies The Public Representation of Financial Positions Judgment, Clarity, and Conflicts of Interest in Accounting PART II THE ETHICS OF INTERNAL MANAGEMENT 8. Hiring Policies and Compensation Standards Preferential Hiring and Affirmative Action Rationales for Affirmative Action Promotion and Remuneration Qualifications and Merit Executive Compensation An Approach to Fairness in CEO Compensation 69 69 71 73 75 77 79 9. Conditions of Employment and Codes of Ethics Safety, Risk, and Informed Consent Whistleblowing Healthcare Obligations and Responsibilities Privacy in Employment Private Lives and the Movable Workplace Company Codes and Mission Statements 82 82 83 85 87 88 88 91 91 92 94 95 98 98 101 102 103 105 10. Religion in the Workplace Church--State Separation as a Starting Point in Employment Some Applications to Managerial Policy Questions Religion in Large Public Companies Demonstrative Affiliation in Employment 11. Managerial Leadership and Corporate Culture Corporate Culture, Ethos, and Ethics Managerial Hierarchy and Its Limitations Leadership Versus Power Ethical Leadership and Leadership in Ethics Meaningful Work and the Creation of Value PART III ETHICAL PROBLEMS OF GLOBAL BUSINESS 12. International Trade and Cross-Cultural Standards Intercultural Understanding Child Labor Gift Giving in Business Gift Giving Versus Bribery 109 109 110 112 113 13. Nationality, International Business Ethics, and Cosmopolitanism Outsourcing Cultural Adaptation, Relativity, and Standards of Negotiation Ethical Limits in Negotiation Strategies The Relation Between Ethics and Law Intellectual Property, Technology Transfer, and Porous Borders Ethics and Law in International Business International Cooperation and Cosmopolitanism 116 116 118 120 121 123 124 126 129 133 145 151 161 14. Conclusion Brief Case Scenarios Glossary Endnotes Index