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Moral Issues in Business 11 th Edition by William H. Shaw and Vincent Barry. Lecture Outlines. Part I: Moral Philosophy and Business. Chapter 1: The Nature of Morality Chapter 2: Normative Theories of Ethics Chapter 3: Justice and Economic Distribution. Chapter One: The Nature of Morality.
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Moral Issues in Business11th Editionby William H. Shaw and Vincent Barry Lecture Outlines This multimedia product and its contents are protected under copyright law. The following are prohibited by law: • any public performance or display, including transmission of any image over a network; • preparation of any derivative work, including the extraction, in whole or in part, of any images; • any rental, lease, or lending of the program.
Part I: Moral Philosophyand Business Chapter 1: The Nature of Morality Chapter 2: Normative Theories of Ethics Chapter 3: Justice and Economic Distribution
Chapter One: The Nature of Morality This multimedia product and its contents are protected under copyright law. The following are prohibited by law: • any public performance or display, including transmission of any image over a network; • preparation of any derivative work, including the extraction, in whole or in part, of any images; • any rental, lease, or lending of the program.
Overview • Chapter One examines the following topics: • Business and organizational ethics. • Moral versus nonmoral standards, etiquette and professional codes. • Religion and business morality. • Ethical relativism and the “game” of business. • Moral principles, conscience, and self-interest. • Personal values, integrity, and responsibility. • Moral Reasoning, arguments, and judgments. Moral Issues in Business Chapter 1
Introduction to Business Ethics • What is ethics? The study of right and wrong, duty and obligation, moral norms, individual character, and responsibility. • What is business ethics? The study of right and wrong, duty and obligation, moral norms, individual character, and responsibility – in the context of business.
Moral Versus Nonmoral Standards • Nonmoral standards: Standards about behavior or practices with no serious or immediate effects upon human well-being. • Moral standards: Standards about behavior or practices with serious or immediate effects upon human well-being.
Some Features of Moral Standards • Moral standards take priority over nonmoral standards. • The soundness or validity of moral standards depend on the quality of the arguments or the reasoning that support them.
Morality and Etiquette • Rules of etiquette are nonmoral in character and are meant to serve as guidelines for socially acceptable behavior. • Violations of etiquette can sometimes have moral implications. • The strict observance of rules of etiquette can sometimes conceal serious moral issues. Moral Issues in Business Chapter 1
(1) Morality and Law • Statutes: Laws enacted by legislative bodies such as the U.S. Congress and state legislatures. • Regulations: Laws enacted by special boards or agencies for various kinds of conduct. • Common law: The body of judge-made laws developed in English-speaking countries over the course of many centuries. • Constitutional law: Court rulings on the requirements of the U.S. Constitution and on the constitutionality of legislation. Moral Issues in Business Chapter 1
(2) Morality and Law • The distinction between morality and legality: • An action can be illegal but morally right. • An action can be legal but morally wrong. • Professional codes: The rules that govern the conduct of the members of a given profession. • Individuals have the responsibility to critically assess the rules of their professions. • These rules are not always complete and reliable guides to adequate moral conduct. Moral Issues in Business Chapter 1
(1) The Sources of Morality • The justification of moral norms: Moral philosophers study mainly the justification, rather than the origin, of moral norms. • The claim that morality is based on religion: • Religion provides incentives to be moral. • Religion provides moral guidance. • Moral norms are in essence divine commands. Moral Issues in Business Chapter 1
(2) The Sources of Morality • Ethical relativism: The view according to which moral norms derive their ultimate justification from the customs of the society in which they occur. • This means that moral norms are not universal, but are dependent upon a particular cultural or social context. Moral Issues in Business Chapter 1
(3) The Sources of Morality • Implications of relativism: • There is no independent standard by which to judge the rightness or wrongness of other societies. • The idea of ethical progress loses its significance. • It makes no sense to criticize the moral code of one’s own society or culture. Moral Issues in Business Chapter 1
(4) The Sources of Morality • Relativism and the “game” of business: • The idea that business is a just game captures the thesis of Albert Carr. • He argued that business professionals are expected to follow a code that has little or nothing to do with ethics. • This view entails – incorrectly – that the practices of business professionals cannot (or should not) be evaluated from a moral standpoint. Moral Issues in Business Chapter 1
(1) The Importance of Moral Principles • What it means to have principles: Accepting moral principles is not just a matter of intellectual recognition, but of profound individual commitment to a set of values. • Conscience: The internalized set of moral principles taught to us by various authority figures – parents and social institutions. • Conscience and its limits: Conscience is not always a reliable guide because it can be (1) conflicted and (2) erroneous. Moral Issues in Business Chapter 1
(2) The Importance of Moral Principles • Moral principles and self-interest: The morality of an action can run counter to our self-interest. • The moral point of view requires that we restrict our self-interest to satisfy social co-existence. • In situations of conflict between moral principles and self-interest, it is important to appeal to shared principles of justification. Moral Issues in Business Chapter 1
Morality and Personal Values • Morality in the narrow sense: The moral principles or rules that do, or should, govern the conduct of individuals in their relations with others. • Morality in the broad sense: The values, ideals, and aspirations that influence the decisions and lifestyles of individuals and entire societies. • Business ethics are mainly concerned with morality in the narrow sense. • But values, ideals, and aspirations also affect the behavior and ethical choices of business professionals. Moral Issues in Business Chapter 1
(1) Individual Integrity and Moral Responsibility • Organizational norms: Employees of business organizations (especially corporations) are: • Expected to further profit goals. • Often pressured to compromise moral values and ignore or violate rules of ethical conduct. • Conformity: Studies show that individuals are more prone to act unethically when they are a part of an organization or a group. Moral Issues in Business Chapter 1
(2) Individual Integrity and Moral Responsibility • Groupthink: The pressure on group members to conform to morally questionable policies or strategies, often resulting in unethical conduct. • Diffusion of responsibility: The multiplicity, complexity, and distribution of tasks that can lead individuals to feel less responsibility or accountability for their actions. Moral Issues in Business Chapter 1
(1) Moral Reasoning • Argument: A group of statements in which one statement (conclusion) is true and follows from the others (premises). • Example: • If Norman is bald, then Norman does not need a haircut. • It is the case that Norman is bald. • Therefore, Norman does not need a haircut. Moral Issues in Business Chapter 1
(2) Moral Reasoning • Requirements for a sound argument: If its statements (premises and conclusion) are true and its form (or structure) is correct. • Validity: The correctness of an argument. • Invalid arguments: Those with incorrect form (or structure). • Determining whether an argument is valid or invalid requires familiarity with the rules of logic. Moral Issues in Business Chapter 1
(3) Moral Reasoning • Moral arguments: Those conflicting theories and beliefs whose conclusions are moral judgments, based on the premise of moral standards and statements of fact. • Example: • If an action violates the law, it is morally wrong. • Affirmative action on behalf of women and minorities in personnel matters violates the law. • Therefore, affirmative action on behalf of women and minorities in personal matters violates the law. Moral Issues in Business Chapter 1
(4) Moral Reasoning • What makes a moral judgment defensible? If it is supported by a moral standard that can be defended as well as relevant facts. • Evaluating moral arguments: • Clarifying the terms of the premises. • Examining the factual claims. • Assessing the moral standard. Moral Issues in Business Chapter 1
(5) Moral Reasoning • Thus, an argument can be refuted by: • Uncovering ambiguity in the terms. • Questioning the factual claims. • Challenging the moral standards. Moral Issues in Business Chapter 1
(6) Moral Reasoning • Criteria for moral judgments: • Should be logical. • Embedded in valid arguments. • Compatible with moral and nonmoral beliefs. • Should be based on facts. • Using supportive, relevant, and true information. • Should be based on acceptable moral principles. Moral Issues in Business Chapter 1