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Business 303 Sheppard Business Society & Ethics, Week 11: Unfinished Business & Nepotism & Bribery Business Society & Ethics, Week 11: Unfinished Business.

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Presentation on theme: "Business 303 Sheppard Business Society & Ethics, Week 11: Unfinished Business & Nepotism & Bribery Business Society & Ethics, Week 11: Unfinished Business."— Presentation transcript:

1 Business 303 Sheppard Business Society & Ethics, Week 11: Unfinished Business & Nepotism & Bribery Business Society & Ethics, Week 11: Unfinished Business & Nepotism & Bribery

2 Wk. 11-2 BUSINESS ETHICS WEEK 11: MAIN QUESTIONS 1.What makes nepotism undesirable? 2.What is bribery & why should we worry? 3.Who is Heinz & why is he stealing drugs? 4.What is the impersonalization argument? 5.If the numbers for costs exceed benefits how can we still economically justify CSR?

3 1. Unfinished Business Applications 1. Unfinished Business: Applications U.N. Compact: Human Rights 1. Respect internationally proclaimed human rights 1. Respect internationally proclaimed human rights 2. Do not comply with others in human rights abuses 2. Do not comply with others in human rights abuses Labour Standards 3. Freedom of association 5. Abolish child labour 3. Freedom of association 5. Abolish child labour 4. Eliminate forced labour 6. End employ. discrimination 4. Eliminate forced labour 6. End employ. discriminationEnvironment 7. Precautionary approach to environmental challenges 7. Precautionary approach to environmental challenges 8. Promote greater environmental responsibility 8. Promote greater environmental responsibility 9. Development / diffusion of enviro-friendly technologies 9. Development / diffusion of enviro-friendly technologiesAnti-Corruption 10. Work against corruption, including extortion & bribery.

4 Wk. 11-4 1. Unfinished Business Applications 1. Unfinished Business: Applications Yahoo in ChinaYahoo in China Nestle infant formulaNestle infant formula The latest version of Wal-MartThe latest version of Wal-Mart What else… ?What else… ?

5 Wk. 11-5 2. Reciprocity & Conflicts of Interest Nepotism. [512]Nepotism. [512] –Merit principle vs. economic burden [515]. 3. Gift versus Bribe [513] And the notion of Reciprocity [517].And the notion of Reciprocity [517]. And cultural relativism [517]And cultural relativism [517] And oppression [519]And oppression [519] And moral neutrality [520]And moral neutrality [520]

6 Wk. 11-6 4. What’s all this? Some points that aren’t covered elsewhere.Some points that aren’t covered elsewhere. At least there’s no reading.At least there’s no reading. The Impersonalization Argument (ala Milgram)The Impersonalization Argument (ala Milgram) –The tools of Business and Impersonalization. –If we follow the ‘mindless tool’ argument to it’s logical conclusion we can use these tools for good. Yea, I could put them on the exam.Yea, I could put them on the exam. The exam will be:The exam will be: –48 Multiple Choice (1.5% each) –14 fill-in (or possibly very short answer) (2% each).

7 Wk. 11-7 5. Defining Issues Test: Heinz & the Drug In Europe, a woman was near death from a special kind of cancer. In Europe, a woman was near death from a special kind of cancer. There was 1 drug doctors thought might save her. It was a form of radium that the druggist in the same town had recently discovered. There was 1 drug doctors thought might save her. It was a form of radium that the druggist in the same town had recently discovered. The drug was expensive to make, but the druggist was charging 10 times what the drug cost to make. He paid $200 for the radium and charged $2,000 for a small dose of the drug. The drug was expensive to make, but the druggist was charging 10 times what the drug cost to make. He paid $200 for the radium and charged $2,000 for a small dose of the drug. The sick woman’s husband, Heinz, went to everyone he knew to borrow the money but could only get together about $1,000, which is half what it cost. He told the druggist and that his wife was dying, and asked him to sell it cheaper or let him pay later. The sick woman’s husband, Heinz, went to everyone he knew to borrow the money but could only get together about $1,000, which is half what it cost. He told the druggist and that his wife was dying, and asked him to sell it cheaper or let him pay later. But the druggist said, “No, I discovered the drug and I’m going to make money from it.” So Heinz got desperate and began to think about breaking into the man’s store to steal the drug for his wife. Should Heinz steal the drug? But the druggist said, “No, I discovered the drug and I’m going to make money from it.” So Heinz got desperate and began to think about breaking into the man’s store to steal the drug for his wife. Should Heinz steal the drug?

8 Wk. 11-8 5. Defining Issues Test (Part 2a)  He should steal it  He should steal it  Can’t decide  Can’t decide  He should not steal it.  He should not steal it. 1. Whether a community’s laws are going to be upheld. 1. Whether a community’s laws are going to be upheld. 2. Isn’t it only natural for a loving spouse to care so much for his wife that he’d steal? 2. Isn’t it only natural for a loving spouse to care so much for his wife that he’d steal? 3. Is Heinz willing to risk getting shot as a burglar or going to jail for the chance that stealing the drug might help? 3. Is Heinz willing to risk getting shot as a burglar or going to jail for the chance that stealing the drug might help? 4. Whether Heinz is a professional wrestler, or has lots of influence with professional wrestlers. 4. Whether Heinz is a professional wrestler, or has lots of influence with professional wrestlers. 5. Whether Heinz is stealing for himself or doing this solely to help someone else. 5. Whether Heinz is stealing for himself or doing this solely to help someone else. Great Much Some Little None Importance.                                                                                     

9 Wk. 11-9 5. Defining Issues Test (Part 2b) 6. Whether the druggist’s rights to his invention have to be respected. 6. Whether the druggist’s rights to his invention have to be respected. 7. Whether the essence of living is more encompassing than the termination of dying, socially & individually. 7. Whether the essence of living is more encompassing than the termination of dying, socially & individually. 8. What values are going to be the basis for governing how people act towards each other. 8. What values are going to be the basis for governing how people act towards each other. 9. Whether the druggist is going to be allowed to hide behind a worthless law which only protects the rich. 9. Whether the druggist is going to be allowed to hide behind a worthless law which only protects the rich. 10. Whether the law in this case is getting in the way of the most basic claim of any member of society. 11. Whether the druggist deserves to be robbed for being so greedy and cruel. 12. Would stealing in such a case bring about more total good for the whole society or not? Great Much Some Little None Importance.                                                                                                                       

10 Wk. 11-10 5. Defining Issues Test (Part 2c) The idea then is to pick your top four. There are six stories in all. You get points for using Post Conventional reasoning. 1 - Obedience & Punishment1 - Obedience & Punishment 2 - Individualism & Reciprocity2 - Individualism & Reciprocity 3 - Interpersonal Conformity3 - Interpersonal Conformity 4 - Social System/Law & Order4 - Social System/Law & Order 5 - Social Contract5 - Social Contract 6 - Universal Ethical Principles6 - Universal Ethical Principles Post-conventional reasoning counts

11 6. A Word on Cost / Benefit Analysis The Cost of life?The Cost of life? Learning how to Multiply.Learning how to Multiply. Savings GLOBAL INC. Flame Safety Improvements CONFIDENTIAL 180 burn deaths @$1,000,000 each$180,000,000 180 serious injuries@ 335,000 each60,300,000 2100 burned vehicles@ 3,500 each7,350,000 (incident: 1 per 1000 Flames )$247,650,000 Costs (for the Global fleet) 12.5 million vehicles@ $55 each$687,500,000 What’s after net cost?What’s after net cost? Importance of Intangibles.Importance of Intangibles.

12 7. Economically / Responsible Analysis A Socially Responsible Effort.A Socially Responsible Effort. Economic Justifications.Economic Justifications. Are Intangible Impacts worth the Cost?Are Intangible Impacts worth the Cost? Theory in Practice:Theory in Practice: –Wal-Mart Stocking Example. Wk. 11-12

13 Regret 10 mil. Wk. 11-13 8. Cost / Benefit & MiniMax Regret (1/2) Minimize your Maximum RegretMinimize your Maximum Regret Alternately Maximize your Minimum RegretAlternately Maximize your Minimum Regret –http://philosophy.hku.hk/think/strategy/decision.php Do not install Extra Pollution Controls ($0 investment) Install Extra Pollution Controls ($10 mil investment) Current standards are applied into the future (No Fines) Law Changes to hold you liable for past damages (Fines & Legal of 30 Mil. NPV) Regret 20 mil. Minimum Regret Regret 10 mil.

14 Regret 650 bil. Wk. 11-14 8. Cost / Benefit & MiniMax Regret (2/2) Inconvenient TruthInconvenient Truth –It’s not all true (e.g. CO 2 Heat Correlation) But : –What is the cost of being a refugee? –Ranting and checking your facts. Do nothing about Global Warming ($0 investment) Install Extra Pollution Controls ($650 bil. investment) It’s not really happening / it’s not our fault (No Problem) It’s really happening and it’s our fault (Billion Refugees @ $25K ea.) Regret $24.35 trillion Minimum Regret Regret 650 bil.

15 B y e B y e


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