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Corporate Governance and Business Ethics in Iceland: Studies on Contemporary Governance and Ethical Dilemmas
Type: Book
ISBN: 978-1-80382-533-5

Book part
Publication date: 5 November 2015

Peter Bowden

This paper explores the question of whether the identification of many wrongdoings in an organisation requires knowledge of the technical and operating mechanisms of that…

Abstract

This paper explores the question of whether the identification of many wrongdoings in an organisation requires knowledge of the technical and operating mechanisms of that organisation. If such is the case, many ethical problems cannot be resolved by a generalist. They must be left to people with knowledge of that industry. In attempting to answer the question, the paper examines 11 different types of organisations. It then asks how the ethical issues in those organisations might be resolved. The organisations are veterinarians, pharmacies, media companies, engineering firms, doctors, general businesses, including two sub disciplines, marketing and accounting organisations, nursing institutions, political parties, scientific research organisations, legal firms and information technology companies. Each can be a small professional company, locally based, or a large organisation, possibly international. Each exhibits one or more ethical problems that are not easily resolved by accepted ethical theory. Accepted theory, as further defined in the text, is the mainline ethical theories that would be core components of most ethics texts or courses. The question arises then on how would ethics be taught if the ethical issues require specialised knowledge of that industry sector. After examining the 11 industries, the paper puts forth two views. One is that a number of wrongs can be identified in industries and organisations where the ethical problems are complex and difficult to resolve, and where the standard ethical theories are of little or no help. Resolving these issues requires action from the organisation, or from the industry association encompassing all companies within that sector. A further complication has developed in the near explosive growth in whistleblower protection systems. These systems, now introduced in close to 30 countries around the world, have their own lists of wrongdoings for which the whistleblower will receive administrative and legal support. These lists of wrongs are distinct from any moral theory One conclusion to be drawn is that new methods possibly need to be found for teaching the identification and resolution of ethical issues. A second is a consequence of the first – that the teacher of ethics in these courses has to be drawn from within the industry. Further questions then arise: One is whether this demand then requires that this industry specialist learn moral theory? A second is then how would generalist applied ethics causes be taught (in humanities departments for instance)? Alternate viewpoints on joint teaching by a moral specialist and an industry specialist have been put forward. The paper puts forward one possible approach for the industry courses – that the industry specialist has to present the course, with new methods and content, but that a theoretical content is taught by someone knowledgeable in ethical theory. For generalist courses, the moral theorist has to include a sufficiently wide sample of industry and organisational ethical issues to ensure that students are aware of the wide range of ethical concerns that can arise, as well as approaches to resolving them.

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The Ethical Contribution of Organizations to Society
Type: Book
ISBN: 978-1-78560-446-1

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Book part
Publication date: 4 December 2020

Alan Tapper

The purpose of this paper is to discuss the concept and the content of courses on ‘social ethics’. It will present a dilemma that arises in the design of such courses. On the one

Abstract

The purpose of this paper is to discuss the concept and the content of courses on ‘social ethics’. It will present a dilemma that arises in the design of such courses. On the one hand, they may present versions of ‘applied ethics’; that is, courses in which moral theories are applied to moral and social problems. On the other hand, they may present generalised forms of ‘occupational ethics’, usually professional ethics, with some business ethics added to expand the range of the course. Is there, then, not some middle ground that is distinctively designated by the term ‘social ethics’? The article will argue that there is such a ground. It will describe that ground as the ethics of ‘social practices’. It will then illustrate how this approach to the teaching of ethics may be carried out in five domains of social practice: professional ethics, commercial ethics, corporate ethics, governmental ethics, and ethics in the voluntary sector. The aim is to show that ‘social ethics’ courses can have a clear rationale and systematic content.

Book part
Publication date: 23 May 2017

Abe Zakhem and Daniel E. Palmer

Theories of management require normative justification; that is, they rely on some conception of what is morally good, right, and just. This chapter examines some of the normative…

Abstract

Theories of management require normative justification; that is, they rely on some conception of what is morally good, right, and just. This chapter examines some of the normative reasons for adopting a stakeholder theory of management and for rejecting the once, and perhaps still, “dominant” shareholder-centric approach. This chapter then surveys some of the prominent “normative cores” that are used to ground stakeholder theory, that is, Kantian, contractarian, feminist ethics, and ethical pragmatism, and the moral obligations that each normative approach generates. Some pressing questions are raised with respect to each normative approach. To what extent ought we to recognize imperfect obligations to shareholders? Are contractarian hypernorms morally substantive? How exactly should we care about stakeholders, and is care even an appropriate attitudinal response? Without some commitment to objective ethical standards, how can pragmatists resolve stakeholder conflict?

Book part
Publication date: 10 August 2018

Donald Lange and Jonathan Bundy

One way of looking at the association between ethics and stakeholder theory – of examining the idea that stakeholder theory has a strong moral foundation – is to consider how the…

Abstract

One way of looking at the association between ethics and stakeholder theory – of examining the idea that stakeholder theory has a strong moral foundation – is to consider how the stakeholder approach might in fact be directly driven by and guided by the moral obligations of business. An alternative perspective we offer is that stakeholder theory only indirectly derives from the moral obligations of business, with business purpose serving as a mediating factor. We work through the fairly straightforward logic behind that alternative perspective in this chapter. We argue that it is a better way to think about the association between ethics and stakeholder theory, particularly because it allows for a theoretical and practical distinction between corporate social responsibility and stakeholder theory. Stakeholder theory can thereby continue developing as a theory of strategic management, even as it brings morals to the fore in ways that other approaches to strategic management do not.

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Sustainability, Stakeholder Governance, and Corporate Social Responsibility
Type: Book
ISBN: 978-1-78756-316-2

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Book part
Publication date: 30 October 2018

FR. Oswald A. J. Mascarenhas, S.J.

This chapter covers basic concepts, ethical theories, and moral paradigms of corporate ethics for identifying, understanding, and responding to the turbulent market challenges of…

Abstract

Executive Summary

This chapter covers basic concepts, ethical theories, and moral paradigms of corporate ethics for identifying, understanding, and responding to the turbulent market challenges of today. The concept, nature, and domain of ethics, business ethics, managerial ethics, and corporate executive ethics are defined and differentiated for their significance. The domain, scope, and nature of related concepts such as legality, ethicality, morality, and executive spirituality are distinguished and developed. Among normative and descriptive ethical theories that we briefly review and critique here are teleology or utilitarianism, deontology or existentialism, distributive justice, corrective justice, and ethics of malfeasance and beneficence. Other moral theories of ethics such as ethics of human dignity, ethics of cardinal virtues, ethics of trusting relations, ethics of stakeholder rights and duties, ethics of moral reasoning and judgment calls, ethics of executive and moral leadership, and ethics of social and moral responsibility will be treated in a later book. The thrust of this book is positive: despite our not very commendable track record in managing this planet and its resources, our basic questions are: Where are we now? What are we now? Where should we as corporations go, and why? What are the specific positive mandates and metrics to corporate executives to reach that desired destiny? This chapter explores responses to these strategic corporate questions.

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Corporate Ethics for Turbulent Markets
Type: Book
ISBN: 978-1-78756-187-8

Book part
Publication date: 7 June 2019

Javier Pinto-Garay

The following chapter is aimed to explain what virtue ethics (VE) in business is, its philosophical background, its original themes, and new research opportunities. To this end…

Abstract

The following chapter is aimed to explain what virtue ethics (VE) in business is, its philosophical background, its original themes, and new research opportunities. To this end, we will establish the distinctive elements of VE and its main sources and epistemological approaches. In particular, we will first describe VE in business based on Alasdair MacIntyre’s ethics and Modern VE in Business. Then, we will briefly show the Thomistic approach to VE in business and its main application to business theory. We will also consider a new epistemological proposal for VE in business in Positive Organizational Scholarship. Next, this chapter will explain briefly the original contributions VE in business makes to a theory of work and a common good theory of the firm. Finally, we will suggest new areas in which VE in business theory has not shown a significant outcome yet. Here, we will discuss new opportunities that VE authors might consider for research projects in new epistemological approaches, VE philosophers not yet studied in business ethics theory, spirituality-based theory (Jewish and Protestant mainly) and its connection with VE, and contemporary problems that firms are facing that can be enlighten from neo-Aristotelian philosophy.

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Business Ethics
Type: Book
ISBN: 978-1-78973-684-7

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Open Access
Book part
Publication date: 30 April 2019

S. J. Oswald A. J. Mascarenhas

This focal chapter deals with the understanding of important ethical theories used in executive moral reasoning such as teleology, deontology, distributive justice and corrective…

Abstract

Executive Summary

This focal chapter deals with the understanding of important ethical theories used in executive moral reasoning such as teleology, deontology, distributive justice and corrective justice, virtue ethics versus ethics of trust, from the perspectives of intrinsic versus instrumental good, moral worth versus moral obligation, and moral conscience versus moral justification. Ethical and moral reasoning will power executives to identify, explore, and resolve corporate moral dilemma, especially in the wake of emerging gray market areas where good and evil, right or wrong, just or unjust, and truth and falsehood cannot be easily distinguished. We focus on developing corporate skills of awareness of ethical values and moral imperatives in current otherwise highly commoditized and turbulent human, market, and corporate situations. The challenges of morality are multifaceted and diverse. Professionals usually have self-discipline and self-regulation abilities, ego strength, and social skills. Morality in the professions is not concerned with the issues of rudimentary socialization; rather, the issues involve deciding between conflicting values, where each value represents something good in itself. There are problems in both knowing what is right, good, true, and just on the one hand, and on the other hand, in doing what is right and avoiding wrong, doing good and avoiding evil, and being fair and just while avoiding being unfair and unjust. Several contemporary cases will illustrate the challenging dimensions of ethical and moral reasoning, moral judgment and moral justification embedded in executive decision processes, and corporate growth and profitability ventures.

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Corporate Ethics for Turbulent Markets
Type: Book
ISBN: 978-1-78756-192-2

Book part
Publication date: 4 December 2020

Glenn Martin

The content of ethics education courses is still generally shaped around the presentation of the traditional ethical theories of Western moral philosophy, complemented by case

Abstract

The content of ethics education courses is still generally shaped around the presentation of the traditional ethical theories of Western moral philosophy, complemented by case studies and discussion of ethical decision-making models. The purpose of courses is still largely geared towards the development of skills in ethical reasoning. Yet developments in surrounding fields, from psychology to learning and leadership development, raise numerous questions about the traditional curriculum. Ethics courses need to be more responsive to psychological factors and to the social realities of workplace contexts, and cognisant of a wider spectrum of ethical concepts. The perspective of virtue ethics remains pertinent, as the broader agenda of ethics courses is to enable students to develop a personal ethical outlook. But ethics courses should also be exploring and incorporating concepts from non-Western philosophies, and incorporating developments in fields such as leadership development.

Book part
Publication date: 24 October 2019

Ramsha Naeem and Jawad Syed

The notion of virtue ethics emphasises individual character as the key element of ethical thinking, which may in turn affect individual actions. There is, however, a lack of…

Abstract

The notion of virtue ethics emphasises individual character as the key element of ethical thinking, which may in turn affect individual actions. There is, however, a lack of attention to this aspect in mainstream theories and practices of motivation in organisations. To address this gap, this chapter focusses on theory of intrinsic and extrinsic motivation, and argues that it may be integrated with the conceptual framework of virtue ethics proposed by MacIntyre at the individual and organisational levels. A change in value-orientation may also enable a focus on good work instead of a narrow focus on monetary rewards. This chapter reviews literatures on motivation and MacIntyre’s framework, and develops a conceptual model to integrate virtue ethics with motivation. At the end, some avenues for future research are discussed.

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Ethics in a Crowded World: Globalisation, Human Movement and Professional Ethics
Type: Book
ISBN: 978-1-83867-008-5

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