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Index
P ART 1: A N O VERVIEW OF B USINESS E THICS
Chapter 1: The Importance of Business Ethics
Chapter Objectives
Chapter Outline
An Ethical Dilemma
Business Ethics Defined
Why Study Business Ethics?
A Crisis in Business Ethics
The Reasons for Studying Business Ethics
The Development Of Business Ethics
Before 1960: Ethics in Business
The 1960s: The Rise of Social Issues in Business
The 1970s: Business Ethics as an Emerging Field
The 1980s: Consolidation
The 1990s: Institutionalization of Business Ethics
The Twenty-First Century: A New Focus on Business Ethics
Developing An Organizational And Global Ethical Culture
The Benefits Of Business Ethics
Ethics Contribute to Employee Commitment
Ethics Contribute to Investor Loyalty
Ethics Contribute to Customer Satisfaction
Ethics Contribute to Profits
Our Framework For Studying Business Ethics
Summary
Important Terms For Review
Resolving Ethical Business Challenges
Check Your EQ
Chapter 2: Stakeholder Relationships, Social Responsibility, and Corporate Governance
Chapter Objectives
Chapter Outline
An Ethical Dilemma
Stakeholders Define Ethical Issues In Business
Identifying Stakeholders
A Stakeholder Orientation
Social Responsibility And The Importance Of A Stakeholder Orientation
Social Responsibility And Ethics
Corporate Governance Provides Formalized Responsibility To Stakeholders
Views of Corporate Governance
The Role of Boards of Directors
Implementing A Stakeholder Perspective
Step 1: Assessing the Corporate Culture
Step 2: Identifying Stakeholder Groups
Step 3: Identifying Stakeholder Issues
Step 4: Assessing Organizational Commitment to Social Responsibility
Step 5: Identifying Resources and Determining Urgency
Step 6: Gaining Stakeholder Feedback
Summary
Important Terms For Review
Resolving Ethical Business Challenges
Check your EQ
P ART 2: E THICAL I SSUES AND THE I NSTITUTIONALIZATION OF B USINESS E THICS
Chapter 3: Emerging Business Ethics Issues
Chapter Objectives
Chapter Outline
An Ethical Dilemma
Recognizing An Ethical Issue
Honesty
Fairness
Integrity
Ethical Issues And Dilemmas In Business
Abusive or Intimidating Behavior
Lying
Conflicts of Interest
Bribery
Corporate Intelligence
Discrimination
Sexual Harassment
Environmental Issues
Fraud
Consumer Fraud
Financial Misconduct
Insider Trading
Intellectual Property Rights
Privacy Issues
The Challenge Of Determining An Ethical Issue In Business
Summary
Important terms for review
Resolving Ethical Business Challenges
Check your EQ
Chapter 4: The Institutionalization of Business Ethics
Chapter Objectives
Chapter Outline
An Ethical Dilemma
Managing Ethical Risk Through Mandated And Voluntary Programs
Mandated Requirements For Legal Compliance
Laws Regulating Competition
Laws Protecting Consumers
Laws Promoting Equity and Safety
Laws Protecting the Environment
Gatekeepers and Stakeholders
Accountants
Risk Assessment
The Sarbanes–Oxley Act
Public Company Accounting Oversight Board
Conflicts of Interest: Auditor and Analyst Independence
Enhanced Financial Disclosures
Whistle-Blower Protection
Corporate and Criminal Fraud Accountability
Cost of Compliance
Laws That Encourage Ethical Conduct
Federal Sentencing Guidelines For Organizations
Highly Appropriate Core Practices
Philanthropic Contributions
Strategic Philanthropy
SUMMARY
Important terms for review
resolving ethical business challenges
Check your EQ
P ART 3: T HE D ECISION M AKING P ROCESS
Chapter 5: Ethical Decision Making and Ethical Leadership
Chapter Objectives
Chapter Outline
An Ethical Dilemma
A Framework for Ethical Decision Making in Business
Ethical Issue Intensity
Individual Factors
Organizational Factors
Opportunity
Business Ethics Evaluations and Intentions
Using the Ethical Decision Making Framework to Improve Ethical Decisions
The Role of Leadership in a Corporate Culture
Leadership Styles Influence Ethical Decisions
Habits of Strong Ethical Leaders
Ethical Leaders Have Strong Personal Character
Ethical Leaders Have a Passion to Do Right
Ethical Leaders Are Proactive
Ethical Leaders Consider Stakeholders’ Interests
Ethical Leaders Are Role Models for the Organization’s Values
Ethical Leaders Are Transparent and Actively Involved in Organizational Decision Making
Ethical Leaders Are Competent Managers Who Take a Holistic View of the Firm’s Ethical Culture
Summary
Important Terms for Review
Resolving Ethical Business Challenges
Check your EQ
Chapter 6: Individual Factors: Moral Philosophies and Values
Chapter Objectives
Chapter Outline
An Ethical Dilemma
Moral Philosophy Defined
Moral Philosophies
Goodness—Instrumental and Intrinsic
Teleology
Deontology
Relativist Perspective
Virtue Ethics
Justice
Applying Moral Philosophy to Ethical Decision Making
Cognitive Moral Development
White-Collar Crime
The Role of Individual Factors in Business Ethics
Summary
Important terms for review
Resolving Ethical Business Challenges
Check your EQ
Chapter 7: Organizational Factors: The Role of Ethical Culture and Relationships
Chapter Objectives
Chapter Outline
An Ethical Dilemma
Defining Corporate Culture
The Role of Corporate Culture in Ethical Decision Making
Ethical Frameworks and Evaluations of Corporate Culture
Ethics as a Component of Corporate Culture
Compliance versus Value-based Ethical Cultures
Differential Association
Whistle-Blowing
Leaders Influence Corporate Culture
Reward Power
Coercive Power
Legitimate Power
Expert Power
Referent Power
Motivating Ethical Behavior
Organizational Structure and Business Ethics
Group Dimensions of Corporate Structure and Culture
Types of Groups
Group Norms
Variation in Employee Conduct
Can People Control Their Own Actions Within a Corporate Culture?
Summary
Important terms for review
Resolving Ethical Business Challenges
Check your EQ
P ART 4: I MPLEMENTING B USINESS E THICS IN A G LOBAL E CONOMY
Chapter 8: Developing an Effective Ethics Program
Chapter Objectives
Chapter Outline
An Ethical Dilemma
The Responsibility of the Corporation as a Moral Agent
The Need for Organizational Ethics Programs
An Effective Ethics Program
An Ethics Program Can Help Avoid Legal Problems
Values versus Compliance Programs
Codes of Conduct
Ethics Officers
Ethics Training and Communication
Systems to Monitor and Enforce Ethical Standards
Continuous Improvement of the Ethics Program
Common Mistakes in Designing and Implementing an Ethics Program
Summary
Important Terms for Review
resolving ethical Business Challenges
Check your EQ
Chapter 9: Implementing and Auditing Ethics Programs
Chapter Objectives
Chapter Outline
An Ethical Dilemma
The Ethics Audit
Benefits of Ethics Auditing
Ethical Crisis Management and Recovery
Challenges of Measuring Nonfinancial Performance
Risks and Requirements in Ethics Auditing
The Auditing Process
Secure Commitment of Top Managers and Board of Directors
Establish a Committee to Oversee the Ethics Audit
Define the Scope of the Audit Process
Review Organizational Mission, Values, Goals, and Policies and Define Ethical Priorities
Collect and Analyze Relevant Information
Verify the Results
Report the Findings
The Strategic Importance of Ethics Auditing
Summary
Important Terms for Review
Resolving Ethical Business Challenges
Check your EQ
Chapter 10: Globalization of Ethical Decision Making
Chapter Objectives
Chapter Outline
An Ethical Dilemma
Capitalism, Economics, and Business Ethics
Common Values, Goals, and Business Practices
Global Business Practices
Consumerism
Human Rights
Health Care
Labor
Sustainable Development
International Monetary Fund (IMF)
World Trade Organization (WTO)
The Multinational Corporation (MNC)
Summary
Important Terms for Review
Resolving Ethical Business Challenges
Check your EQ
P ART 5: C ASES
Case 1: Monsanto Attempts to Balance Stakeholder Interests
Case 2: Wal-Mart: The Future Is Sustainability
Case 3: The American Red Cross
Case 4: Countrywide Financial: The Subprime Meltdown
Case 5: Arthur Andersen: Questionable Accounting Practices
Case 6: Coping with Financial and Ethical Risks at American International Group (AIG)
Case 7: Starbucks’ Mission: Social Responsibility and Brand Strength
Case 8: The Fraud of the Century: The Case of Bernard Madoff
Case 9: NIKE: Managing Ethical Missteps—Sweatshops to Leadership in Employment Practices
Case 10: Banking Industry Meltdown: The Ethical and Financial Risks of Derivatives
Case 11: The Coca-Cola Company Struggles with Ethical Crises
Case 12: Enron: Questionable Accounting Leads to Collapse
Case 13: BP (Beyond Petroleum) Focuses on Sustainability
Case 14: Tyco International: Leadership Crisis
Case 15: Responds to Ethical Challenges
Case 16: PETCO Develops Successful Stakeholder Relationships
Case 17: Home Depot Implements Stakeholder Orientation
Case 18: New Belgium Brewing: Ethical and Environmental Responsibility
Notes
Index
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