Business Ethics Flashcards
Corporate Social Responsiblity - Kant
+ Duty to public
+ Don’t treat public as means to an end
- Dont treat shareholders as ends to an end: money
Corporate Social Responsibility - Utilitarianism
+ More stakeholders (Public) than shareholders, GGFGN
+ Rule utilitarianism - universally better
+ Mill - money = lower pleasure
- More shareholders benefit than public members
Whistle blowing - Kant
+ exposes using people as means to an end
+ duty to society
- duty to employer/contract
Whistleblowing - Utilitarianism
+ greatest for good society to prevent exploitation
- small amount of suffering via exploitation might be outweighed by the larger happiness of society created by that company
Good ethics = good business - Kant
+ limits being being used as means
+ duty to be ethically fair to society
- duty to economy to make money
- only duty is to employer and make them happy
Good ethics = good business - Utilitarianism
+ good ethics benefit all of society
+ preference Utilitarianism - least suffering via exploitation
- ethical egotism - will benefit society in the long run
Globalisation - Kant
+ Duty to rest of world to boost its economy
+ duty to share resources
- exploitation using people as means
Globalisation - Utilitarianism
+ greatest good for people all round world
- exploitation - damages society
Issues of globalisation
Sweatshops
Child labour
Abuse
Global weapons trade - terrorism
Milton Friedman
“The purpose of business is to make me money”
Maxwell
“There’s no such thing as good business ethics”
Will Hutton
Stakeholder theory
Stakeholders have a voice in how a business should operate
Adam Smith
Ethical egotism
Invisible hand theory
Businesses self regulate
The consumer wants good quality and fair prices - this rewards those businesses
Putting company first serves the common good of people
Cadbury
Originally of Quaker origin
Good ethics can still pay
Ford
Faulty car
Cost of repair = £137 mil
Compensation cost = £50 mil
