Ethics Theory and Business Practice 0.1 Introduction
aims to outline the aim of the course to explain how the words ‘ethics’, ‘business’, and some related terms are used in the course to outline the approach to the study of business ethics taken here and contrast it with some alternative approaches to offer some reasons for taking this approach
what is ethics? morality good and bad right and wrong rights responsibilities, obligations, duties fairness virtue
what is business? a field of human activity one way of arranging the supply of goods and services as opposed to the public sector, charities, clubs, and societies not a precise distinction a type of institution firm, company, enterprise, corporation
the subject matter of business ethics notions such as: right and wrong, good and bad, rights, responsibilities, obligations, duty, fairness, virtue, and morality the activities of businesses, firms, enterprises, companies, and corporations and the actions of the people who work in them applied to
some approaches to business ethics study 1.telling businesses how to identify the expectations of key stakeholders and how to meet those expectations but are key stakeholders the only ones whose expectations matter? 2.telling businesses how to be ethical but how do we know what is ethical?
the approach taken here helping people to work out what ethical and unethical business practice consists of
the scope of business ethics enquiry macro level meso level micro level
business ethics in practice all about dilemmas
why study business ethics? the impact of business: in employing people in providing goods and services in shaping attitudes and aspirations in using resources and producing waste
→ the power of business to do good and to do bad
theory in practice considering Coca-Cola 700,000 jobs worldwide 1 billion cans/bottles consumed every day $2.5 billion annual advertising 3 litres water → 1 litre Coca-Cola $690 million annually on charitable projects
ethics theory merit in diversity each theory as a separate lens through which to view an ethically charged business issue contributing to a comprehensive overview which will help you to develop your own opinion about its rights and its wrongs
key points business ethics: questions of ethics applied to business which occur at various, interconnected levels business ethics is about dilemmas business ethics matters because of the impact of business the importance of taking a comprehensive overview to develop an informed personal opinion