Business Ethics: Principle and Practices


Business Ethics: Principles and Practices provides an insight into the crucial role played by ethics in managerial decision making and the impact of such decisions on organizations. The book is designed to serve as a textbook for students of management but may also be profitably used by management professionals.

The book follows a debate-based approach, wherein views, both for and against, are presented, followed by concept analysis and logical deduction. Starting with a broad ...

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Business Ethics: Principles and Practices provides an insight into the crucial role played by ethics in managerial decision making and the impact of such decisions on organizations. The book is designed to serve as a textbook for students of management but may also be profitably used by management professionals.

The book follows a debate-based approach, wherein views, both for and against, are presented, followed by concept analysis and logical deduction. Starting with a broad classical overview of the meaning and scope of ethics and the development of ethical thought, the book discusses the applications of ethical standards to business areas such as corporate governance, marketing and brand management, advertising, and finance. The discussion then shifts to issues of workplace ethics and consumer rights. Special focus is placed on ethical choices related to the environment, cyber space, and criminal intimidation. Contemporary issues such as the corporate code of ethics, political correctness, and the role of civic society in upholding moral values are discussed in detail. Finally, several open-ended issues such as intellectual property rights, terrorism and animal rights, and their consequences on businesses are examined.

Key Features

Lays emphasis on ethics as a serious academic discipline rather than just a study of moral codes

Provides exhaustive coverage of various facets of ethics in the business arena

Is well aided with a number of examples, case studies, and end-chapter review questions

Presents a clearly drawn ethical development programme along with an apt 'management mantra' at the end of each chapter

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Product Details

  • ISBN-13: 9780195699647
  • Publisher: Oxford University Press, USA
  • Publication date: 6/13/2010
  • Pages: 597
  • Product dimensions: 7.20 (w) x 9.40 (h) x 1.10 (d)

Table of Contents

Foreword v

Preface vii

To the Instructor xiii

Part 1 Managers and Morals: Setting Ethical Standards

1 Ethics: Meaning, Definition, and Scope 6

Ethics and Morals 7

Evolution of Ethics 8

Classification of Ethics 8

Application 9

Business Ethics 10

Nature of Ethics as Moral Value 12

Law versus Ethics 16

Case Study: A Matter of Principle 20

2 Eastern and Western Ethical Thought and Business Practices 25

Universal Norms and Geographically Different Cultures 26

Suitability of Eastern Values to Western Business 28

Do Indian Values Hinder Business 31

Progressive Business Dharma 33

Case Study: Tipping Point of Ethics on the Glazier 38

3 Doctrines, Dogmas, and Business Management 45

Pragmatism and Ethics 46

Criticism of Socialism 51

Social Market Economy 54

Philosophy of Business 57

Case Study: Nandigram Massacre-Symbol of People's Resistance against Acquisition of Property 63

4 Decision Making: Moral Reasoning and Its Application 71

Understanding Decision Making 72

Essence of Decision Making 74

Decision-making Process 80

Classification of Decision Making 84

Case Study: Kohlberg's Research Case 93

Part 2 Managers and Management Areas Application of Ethical Standards to Business Disciplines

5 Manufacturing: Consumer, the Ultimate Stakeholder 107

Duties of the Manufacturer 109

Consumer Rights 117

Informed Consumer 120

Consumer Politics 120

Problems of Politics and Economics 121

Consumer Privacy 122

Ethical Consumption 123

Classification of Unethical Consumer Behaviour 124

Building Ethical Consumer Communities 125

Legal Business versus Moral Business 127

Case Study: The Giant Nano-Making History at Birth 130

6 In the Marketplace 137

Product Positioning and Competing 139

Packaging, Labelling, and Launching 141

Pricing and Its Consequences 147

Brand Management Imperatives 153

Business as Usual 158

Unusual Strategies: Integral Marketing Paradigm 160

Case Study: Lifebuoy-The Story of a Soap 162

7 On the Billboard 169

Advertising and Communication Decisions 171

Exploitative Nature of Advertising 174

Culture and Ad-Culture 175

Lessons from Nature 177

Serious Problems in Contemporary Advertising 181

Case Study: The Story of an Adman 184

8 Finance and Value 192

Early History of Financial Scams 193

Financial Accounting 194

Financial Standards 197

Responsibility of Financial Institutions 199

Capital Market and Its Regulator 206

Case Study: Satyameva Jayate-Truth Shall Prevail 210

Part 3 Managers and Workplaces: Managing People in the Organization

9 Workers and Morals 226

Rights and Duties of Employees 228

Personnel Policies and Procedures 231

Just Wages 239

Trade Unions 242

Case Study: Cool Dudes Bunking Work 252

10 The Workplace and the Individual 255

Need for Workplace Ethics 256

Professional versus Personal 257

Morality of Informed Consent 260

Workplace Surveillance versus Privacy 263

Health and Safety Hazards 268

Case Study: Consensual SEZ 273

11 The Contemporary Worker 282

Conflict of Interest 283

Whistleblowing 286

Abuse of Official Position 289

Bribe 292

Case Study: Dubey's Dream 307

12 On-the-Job Problems 307

Discrimination 309

Affirmative Action or Job Reservation 316

Sexual Harassment 320

Manners and Managers 324

Case Study: Vishaka 327

Part 4 Managers and Corporations: Corporate Citizens: Organizations in the World

13 Corporate Governance 339

Corporation as a Moral Person 340

Corporate Governance 343

Corporate Governance Theories 346

Good Corporate Governance 350

Case Study: Trial of Warren Hastings 355

14 Institutionalization of Ethical Governance for Corporations 365

Emergence of Corporate Governance Code 367

Development of Indian Corporate Governance 377

Assumption of Best Practices 376

Failure of Corporate Governance 382

Case Study: Riddle of Reliance 386

15 Corporate Social Responsibility 394

Understanding CSR 396

Moral Arguments for CSR 398

Issues in CSR 400

Development of Corporate Conscience as Moral Principle of CSR 403

Case Study: Wealth for the People 408

16 Corporations in the Geopolitical World 415

The Global Picture 417

Economic Justice 420

Failure to Provide Economic Services to Poor 424

Corporations as Service Organizations in a Globalized World Order 429

Case Study: The Shrinking Feeling 435

Part 5 Managers and the International Community: Challenges of the New Age World

17 Challenges of Environment 450

Principles of Environmental Ethics 452

Environmental Challenges as Business Opportunities 456

Role of the Government 460

Multi-stakeholdership 462

Case Study: Goa 2100 468

18 Challenges of Cyber Age 481

Information Technology and Its Moral Significance to Business 483

Data Identity and Security 487

Crime and Punishment 490

Intellectual Property Rights 496

Case Study: Indernet 501

19 Challenges of Violence 509

Understanding Global Business 512

Multinationals and Militaries 519

Business and Terrorism 529

Multinational Corporations and Multinational Responsibilities 534

Case Study: The Game 542

20 Challenges of Unsolved Problems 549

Food, Shelter, and Clothing Rights 550

Gender Rights 556

Human Rights 559

Animal Rights 565

Case Study: Fowl Industry 570

Select References 578

Index 594

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