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Слайд 1DR. ‘ALIM J. BEVERIDGE


REVISION
Business Ethics P13601

Слайд 2
Revision

Слайд 3Exam Structure
Exam will have one section with 5 essay questions
You

are required to answer 2 out of the 5 questions
Each question is worth 50%
Both are long essay question: around 1-2 pages
Make sure to answer all parts of the question!
90 minutes available


Слайд 4Core Topics
What is Business Ethics? (Lecture 1)
Why has it become more

important in recent year?
Ethical theories (prescriptive) (Lecture 2)
How can we know right from wrong?
Utilitarianism, Deontology (Kantian duty ethics), Confucianism

Слайд 5Core Topics
Corporate social responsibility (CSR) (Lecture 3)
What are the responsibilities of

the firm?
Moral vs. instrumental arguments for CSR
Arguments against CSR
Stakeholder analysis & engagement (Lecture 6)
Who are the stakeholders of the firm?
Which stakeholders should a firm’s managers pay attention to?
Stakeholder analysis
Stakeholder management/engagement

Слайд 6Core Topics
Behavioral ethics (descriptive) (Lecture 9)
Why do people and organizations engage

in wrongdoing?
New vs. traditional perspective
Business ethics management (Lecture 10)
How can organizations prevent unethical behavior and encourage ethical behavior?
Fostering moral virtue (Lecture 10)
Why do some individuals (and companies) avoid wrongdoing and/or engage in doing good?
How can we strengthen the impulse to do good in individuals and organizations?

Слайд 7Applied Topics
Business ethics as applied to each of the following stakeholder

groups:
Shareholders (Lecture 4)
Consumers (Lecture 5)
Suppliers and Competitors (Lecture 7)
Civil Society (Lecture 8)



Слайд 8Recurring Themes
Doing good vs. doing no harm
Moral and instrumental (pragmatic, strategic)

considerations
Changing values and attitudes = changing societal demands on companies + new opportunities for companies



Слайд 9Seminar Topics
Seminar 1: Cross-cultural ethics Ethical theories Ethics of gift-giving/bribery
Seminar 2: Issue and stakeholder

analysis Labor issues and Global supply chains
Group presentation: Issue and stakeholder analysis

Слайд 10Course Objectives
Bloom’s Taxonomy (updated)

Слайд 11Question Format
Some questions ask you to apply a core topic to

a specific case In 2015 German car manufacturer Volkswagen (VW) was forced to admit to installing devices in millions of its cars during the previous seven years that allowed them to pass emissions tests despite releasing amounts of harmful polluting gases that far surpassed legal limits. If the board of directors of VW asks you to recommend company policies and practices that would ensure that such misconduct is prevented in the future, what recommendations would you give? Justify your recommendations.

Слайд 12Question Format
Some questions are directly about one of the applied topics Discuss

the advantages and drawbacks of using a standardized CSR reporting format, such as the one provided by the United Nations Global Compact, from the point of view of the adopting company. Support your key arguments by providing relevant examples.

Слайд 13Question Format
Some questions require a comparison between several perspectives or an

analysis from several different perspectives Imagine a company buys the only medicine available to fight a serious disease and raises its price from RMB 200 a bottle to RMB 15,000 a bottle. In the world’s poorest countries many people die of this disease every year. Discuss whether this is ethical from the view point of three ethical theories: Kantian deontology, utilitarianism and Confucianism. Justify your answers.

Слайд 14Question Format
Many questions have more than one part Many foreign banks in

China, such as JP Morgan Chase, operate a “Sons and Daughters” program which gives preference in hiring decisions to the sons and daughters of government officials and the managers of state-owned enterprises (SOEs). The program’s purpose is to gain favourable treatment from government agencies and lucrative deals from SOEs.
Critically discuss at least three rationalizations HR managers in these banks may have used to make their actions ethically acceptable to themselves.
Critique each rationalization and provide a counter-argument for each.

Слайд 15A Quality Response
Covers the question without including irrelevant content
Shows clear understanding

and use of pertinent concepts
All parts of the question are answered
Arguments are supported with examples or relevant references
Incorporates appropriate materials from lectures, seminars and readings

Слайд 16
Lecture 1: Business Ethics

Слайд 17What is Business Ethics?
According to the textbook:
“Business ethics is the study

of business situations, activities, and decisions where issues of right and wrong are addressed.”
Our module deals with the ethics of the actions and decision of:

Corporate Social Responsibility

Слайд 18An Ethical Hierarchy


Minimum
Obligatory
Desirable but
Discretionary

Слайд 19
Chapter 2:
Ethical Theories and Business Ethics

Слайд 20Key Readings
Arnold & Bowie, 2003. Sweatshops and respect for persons
Chan, 2007.

The relevance and value of Confucianism in contemporary business ethics

Слайд 21Other Ethical Theories

Слайд 22Utilitarianism
Is concerned with consequences
The General Principle: ‘An action is morally right if

it results in the greatest amount of good for the greatest amount of people affected by the action.’
The simple and easy way to understand utilitarianism is as a cost-benefit approach to ethics
Utilitarianism is not egoism!
Rule utilitarianism and act utilitarianism often lead to different conclusions (but not always)


Слайд 23Act vs. Rule Utilitarianism
Act utilitarianism considers only the consequences of a

single act
Rule utilitarianism looks at a class of actions and asks whether in principle it produces the greatest amount of good for the greatest amount of people

Слайд 24Ethics of Duty (Deontology)
Focuses on defining the Categorical Imperative: An ethical

theory or law our acts must conform to under all conditions
Consequences don’t matter; but intentions do
Intrinsic worth or dignity of all persons; therefore should be respected

Immanuel Kant (1724-1804)

Слайд 25Kant’s Three Maxims
Consistency – Apply the same standard to your action

that you would to others’. Don’t make an exception for yourself.
Respect for human dignity – Don’t use others. Treat them as an end not as a means.
Universal acceptability – Act only as you would if your actions were known to all.
These are different formulations of one categorical imperative, according to Kant.
BUT still may lead to different conclusions.

Слайд 26Confucian Ethics
Strong focus on cultivating self and being virtuous – Ultimate

goal is to become a jūnzǐ (君子)
Core Confucian virtues (dé 德):
Rén (仁): compassion, benevolence, humaneness
Yì (義): Sense of rightness, righteous- ness
Following Lǐ (禮 ): norms, protocols, etiquette, propriety
and also wisdom, reciprocity, trustworthiness and filial piety

Confucius (孔子)

Слайд 27Confucian Ethics
Essence of rén = “Golden Rule”
(1) weak form: “What

you do not wish for yourself, do not do to others.”
(2) strong form: “A man of benevolence, wishing to establish his own character, also establishes the character of others, and wishing to be prominent himself, also helps others to be prominent.” One must help others to develop morally to achieve one’s own moral development

Слайд 28Confucian Ethics
How and why matter: Motives and the manner something is

done is more important than what is done
Profit-making is not bad unless done for selfish reasons




Woods & Lamond, 2011

Слайд 29Question Example
Imagine a company buys the only medicine available to fight

a serious disease and raises its price from RMB 200 a bottle to RMB 15,000 a bottle. In the world’s poorest countries many people die of this disease every year. Discuss whether this is ethical from the view point of three ethical theories: Kantian deontology, utilitarianism and Confucianism. Justify your answers.

Слайд 30
Lecture 3:
Corporate Social Responsibility

Слайд 31Key Readings
Friedman, 1970. The social responsibility of business is to increase

its profits
Economist articles
Porter & Kramer, 2011. Creating shared value
Smith, 2003. Corporate social responsibility: Whether or how?

Слайд 32Definitions
Corporate social responsibility:
“The firm’s consideration of, and response to, issues beyond

the narrow economic, technical, and legal requirements of the firm.” (Davis, 1973)
“Actions that appear to further some social good, beyond the interests of the firm and that which is required by law.” (McWilliam & Siegel, 2001)

Слайд 33The Debate over CSR Today
From a dichotomy to a continuum.
The

question now is not “Whether” but “How?” (or “How much?”) (Smith, 2003)

What is the corporation’s purpose and what are its responsibilities?

Maximize Shareholder Value
(Exclusively)

Serve the Broader Interests of Society (Beyond Profits)


Слайд 34Carroll’s Four-Part Model: The Pyramid of CSR
Philanthropic Responsibilities
Expected by society
Do Good
Do

No Harm



Слайд 35Why should firms engage in CSR?
Moral arguments: pro-CSR arguments based on

the view that corporations have moral obligations (“It’s the right thing to do”) Normative view
Instrumental arguments: based on claims that CSR leads to desirable outcomes, specifically increased profits, for firms
“The business case for CSR”, pragmatic view, strategic CSR, “profit-maximizing” CSR

Слайд 36Moral Arguments for CSR
Typically focus on accountability, reciprocity, obligation, and social

contract
Driven by growing concern over dwindling natural resources and environmental degradation: Pollution, water contamination, over-population, deforestation, climate change, etc.
And concern over social issues: Poverty, inequality, slavery, forced labor, starvation, health, human rights

Слайд 37Friedman’s Critique
“There is one and only one social responsibility of business–to

use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."
Three arguments against CSR (especially against moral arguments for CSR)

Слайд 38Instrumental Arguments for CSR
CSR “is good for business” (or it’s bad

to ignore it)
Changing expectations & radical transparency
Growing “conscious consumer” & LOHAS (Lifestyles of Health and Sustainability) segments
Reputation
More attractive to employees and investors
Better relations with government
Cost reduction, risk management
New business opportunities

Слайд 39Critiques of Instrumental Arguments
Continues to prioritize profits above all
Can lead to

superficial CSR initiatives (“Window-dressing”) or deception (“Greenwashing”)
What if there is no “Market for Virtue”? What happens when there is a real conflict between profits and the broader interests of society?



Слайд 40
Lecture 6: Stakeholder Analysis & Engagement

Слайд 41Stakeholder Relations

The Firm and its Managers

Suppliers: Supply high quality inputs & receive

payment


Civil society (NGOs): Don’t criticize or boycott & achieve their goals


Customers: Purchase products or services & obtain value


Shareholders: increase value of the firm & make profits


Governments: Don’t regulate extensively & and receive taxes


Employees: Create good products or services & receive income

Interdependence

Слайд 42Types of Stakeholders
Werther & Chandler (2010)
Primary
Secondary
Which of all of these stakeholders

should managers pay attention to? And how should the company engage with each?

Слайд 43Processes of Stakeholder Management
Stakeholder assessment is the process of understanding stakeholders

and their relationship to a specific activity; it can be subdivided into two steps, stakeholder identification and stakeholder prioritization.

Stakeholder engagement is the process of interaction with stakeholders and can be subdivided into stakeholder communication and the co-creation of joint activities.

Слайд 44Stakeholder Prioritization
Laasch & Conaway, 2015

Слайд 45Stakeholder Analysis
Based on Eden & Ackermann, 1998

Слайд 46Exam Question
Senior managers at an IT company in the United States

discover through a newspaper report that several of their suppliers in Country X employ forced labour. Now a group of human rights NGOs are gathering signatures for a shareholder resolution which would demand that the company cease all sourcing from Country X because of its oppressive government and terrible labour rights record.
Identify the key stakeholder groups in this issue and discuss the most likely position of each on the issue, justifying your arguments.
From an instrumental view of CSR which stakeholders should senior managers pay attention to and why?

Слайд 47
Lecture 9:
Making Decisions in Business Ethics: Descriptive Ethics

Слайд 48Key Readings
Palmer, 2013. The new perspective on organizational wrongdoing
Gioia, 1992. Pinto

fires and personal ethics: A script analysis.pdf
Also: Drumwright & Murphy, 2004
Also see videos (Concepts Unwrapped and In it to Win by UT Austin) on Moodle

Слайд 49Behavioral Ethics
Why do people and organizations engage in wrongdoing?
How people make

ethical decisions
Factors that influence ethical decision making


Слайд 50The New Perspective
Palmer, 2013

Слайд 51Rest’s Model of Ethical Decision Making
Recognise
Moral
Issue
Make
Moral
Judgement
Establish
Moral
Intent
Engage
in Moral
Behaviour
Individual factors
Contextual

factors

Rest, 1986

Слайд 52Rational Decision Making or Not?
An emerging view holds that ethical decision

making is often automatic, impulsive and unconscious (ethical impulse perspective) rather than rational (ethical calculus perspective)
This view is also known as bounded ethicality

Слайд 53

Individuals
Situation
System









An Interactive Model
National Culture



Слайд 54Nested Systems
National/regional culture, religion, legal system: values, beliefs

Professional culture, education

Organizational culture,

rewards systems, formal and informal structures of relationships and power

Situational cues can activate “mental programming” and programmed behavior associated with certain systems (or not)

Situation

Слайд 55Human Nature According to Social Psychology
“Man is by nature a social

animal” – Aristotle
Social psychology: human beings have evolved to harmoniously live in groups
We are therefore good at cooperating, following rules, observing others, conforming to group behavior, expectations and norms
Power & authority (Milgram’s experiments)
Social influence processes
Group & organizational factors


Слайд 56Moral Recognition
One key issue is whether the person realizes he or

she is faced with an ethical decision
Also known as Moral awareness

Social & Cognitive Factors

Rest, 1986

Recognise
Moral
Issue

Make
Moral
Judgement

Establish
Moral
Intent

Engage
in Moral
Behaviour

Слайд 57Moral Muteness & Myopia
Moral muteness: When someone recognizes an issue has

an ethical dimension but remains silent and avoids confronting the ethics of the issue
Moral myopia: Distortion of moral vision, leading to difficulty of recognizing ethical issues or seeing them clearly
Moral muteness can lead to moral myopia
Moral myopia can also occur due to rationalization
There are many cognitive biases and situational factors that can lead to moral myopia

Слайд 58Moral Intensity
Issue-specific factors that can influence moral awareness:
Magnitude of consequences
Social

consensus
Probability of effect
Temporal immediacy
Proximity (social, cultural, psychological or physical) and
Concentration of effect

Jones, 1991

Слайд 59Rationalization Tactics
Rationalizations serve to convince the actor that their actions are

not unethical through excuses or justifications.
Denial of responsibility “I didn’t do it”, “I had no choice”, “None of my business”
Denial of injury “No one was really harmed”, “It could have been worse”
Denial of victim “They deserved it”, “They chose to participate”
Social weighting “You have no right to judge us”, “Others are worse than we are”

Anand, Ashforth & Joshi, 2004

Слайд 60Rationalization Tactics
Appeal to higher loyalties “We answer to a higher cause”
Moral equilibrium

(or Moral licensing , aka “Metaphor of the ledger”) Good deeds excuse wrongdoing
“Start small” (Zimbardo)
Rationalizations can be used before the act (prospective) or after (retrospective)
Prospective rationalization can lead to moral myopia
Retrospective rationalization helps reduce misgivings and feelings of guilt

Anand, Ashforth & Joshi, 2004

Слайд 61Exam Question
Many foreign banks in China, such as JP Morgan Chase,

operate a “Sons and Daughters” program which gives preference in hiring decisions to the sons and daughters of government officials and the managers of state-owned enterprises (SOEs). The program’s purpose is to gain favourable treatment from government agencies and lucrative deals from SOEs.
Critically discuss at least three rationalizations HR managers in these banks may have used to make their actions ethically acceptable to themselves.
Critique each rationalization and provide a counter-argument for each.

Слайд 62
Lecture 10:
Business Ethics Management

Слайд 63Key Readings
Zhang, Gino & Bazerman, 2014. Morality rebooted: Exploring simple

fixes to our moral bugs

Слайд 64What is business ethics management?
Business ethics management is the direct attempt

to formally or informally manage ethical issues or problems through specific policies, practices and programmes

Dr. Ulf Henning Richter

Слайд 65Typical Components
Mission or values statements
Codes of ethics
Reporting/advice channels
Risk analysis and management
Ethics

managers, officers and committees
Ethics consultants
Ethics education and training
Stakeholder consultation, dialogue and partnership programs
Auditing, accounting and reporting

Слайд 66Codes of Ethics
A Code of Ethics is only effective if properly

implemented and enforced, e.g. through:
Communication and training
Disciplinary actions
Whistleblowing mechanism
HR practices and policies (e.g., hiring, performance assessment)
Ethics committee or officer
Monitoring, auditing and reporting

Слайд 67Meta-analytic results from Kish-Gephert, Harrison & Trevino, 2010





Слайд 68Codes of Ethics

Source: KPMG 2008

Слайд 69Ethical Climate & Culture
Ethical climate consists of shared beliefs about “what

constitutes right behavior” in an organization
Ethical culture refers to the organization’s formal and informal “systems, procedures, and practices for guiding and supporting ethical behavior” especially through the communication of “behavioral and accountability expectations” (Kish-Gephert et al 2010).
Emerges from rules and procedures, reward structures, among other things
Also leadership behaviors


Слайд 70Leadership


Leaders set the ethical tone in organizations
Being an ethical leader

involves being a moral person and a moral manager
A moral person is someone who possesses a good character and displays virtues (honesty, trustworthiness, concern for others, etc.)
A moral manager sets ethical standards, communicates expectations and holds others in the organization accountable to those standards and expectations (Trevino & Brown, 2004)

Слайд 71Types of Factors
Formal vs. informal
Structure-oriented (extrinsic) vs. values-oriented (intrinsic)
Many approaches focus

on one only
Problem: lack of alignment, inconsistencies, contradictions
An integrative approach tends to be more effective


Слайд 72Exam Question
In 2015 German car manufacturer Volkswagen (VW) was forced to

admit to installing devices in millions of its cars during the previous seven years that allowed them to pass emissions tests despite releasing amounts of harmful polluting gases that far surpassed legal limits.
If the board of directors of VW asks you to recommend company policies and practices that would ensure that such misconduct is prevented in the future, what recommendations would you give? Justify your recommendations.

Слайд 73
Fostering Individual
Moral Virtue

Слайд 74Meta-analytic results from Kish-Gephert, Harrison & Trevino, 2010



Слайд 75Your Beliefs and Values
What you believe matters
Locus of control
Idealist vs. relativist

moral philosophy
Idealist moral philosophy: Individual’s belief that a “right” choice, especially one that avoids harm to others, exists in every situation
Principled vs. expedient ethical ideology

Слайд 76Integrity
Integrity is a “steadfast commitment” to one’s values or principle and

to acting in ways that are consistent with these
Associated with a principled ethical ideology
Reduces propensity to morally disengage and rationalize
Leads to more helping behavior (like volunteering) and less unethical behavior (like lying, cheating, etc.)
Linked to more self-esteem, meaning in life, and empathy toward other, and less materialism



Слайд 77Moral Imagination
Definition: “Articulating and examining alternatives, weighing them and their probable implications,

considering their effects on one’s other plans and interests, and considering their possible effects on the interests and feelings of others’’ (Jacobs, 1991: pp. 25)
The ability to think “outside the box”, get beyond seeing only two choices, and generate creative ethical alternatives or solutions
Also linked to principled ethical ideology

Слайд 78Conclusions
Commitment to moral self-improvement
Have strong values, know what you believe in

or stand for
Have others you can talk to about your values
Talk to others about ethical issues or problems
Mind the company you keep (the influence of peers, friends and colleagues, and organizational culture)
Work on your self-control and empathy
Try a creative problem solving approach

Слайд 79
Other Topics

Слайд 80Corporate Governance
How can shareholders be victims of unethical behavior?
What is the

purpose of corporate governance?
Reasons why corporate governance arrangements fail too work

Слайд 81Corporate Governance Reforms
In the wake of alarming corporate scandals, CG reforms

have been introduced in the US and most European countries. These tend to focus on:
Separation of CEO and Chairman positions (often recommended but not required)
Number or proportion of independent outside directors
Independence of audit committee
Independence of compensation committee
Disclosure of compensation
But CG problems persist. Why?

Слайд 82Ethical Issues in Marketing

Слайд 83Consumer Sovereignty Test

Слайд 84Social Issues in Marketing
Concerns that marketing communications:
Are intrusive and unavoidable
Create artificial

wants
Reinforce consumerism and materialism
Create insecurity and perpetual dissatisfaction
Perpetuate social stereotypes


Cause-related marketing

Слайд 85Greenwashing
Source (text and pictures): Futerra (2008) The Greenwash Guide”, www.futerra.co.uk

Слайд 86Ethics and Supply Chains

Слайд 87Ethical Sourcing
Often involves collective action and multi-stakeholder collaboration
Government-led initiatives: Kimberley Process


Industry-led initiatives: Accord on Fire and Building Safety in Bangladesh
Company-led initiatives: Intel and conflict minerals
Business-NGO (CSO) partnerships: Marine Stewardship Council
CSO-led initiatives: Fairtrade

Слайд 88Supply Loops
(a) Linear flow of resources

Extraction
Manufacture
Product recapture
Distribution
Disposal
Consumption
(b) Circular flow of resources

Слайд 89Civil Society
What is the role of the civil society sector?

Types of

CSOs

CSO Tactics:
Indirect action
Violent direct action
Non-violent direct action

Слайд 90Ethical Challenges for CSOs
CSO accountability
Do CSOs truly listen to their beneficiaries

and represent their concerns?
Do CSOs disseminate accurate and complete information? Or do they engage in deception?
Do CSOs use their funds responsibly? (Issues: embezzlement and corruption, CEO pay, etc.)
Do CSOs really try to solve the problems they claim to solve?
“Who watches the Watchmen?”

Слайд 91The Nonmarket Environment
What is the nonmarket environment? How does it differ

from the market environment?
Why is it important?
(Baron, 1995)

Слайд 92
Management
Nonmarket
Strategy
Market Strategy
Market
(competitive)
Analysis
Nonmarket
Analysis
Integrating Market and Nonmarket Strategy
(Baron, 1995)

Слайд 93Business-NGO Partnerships
Traditionally the relationship between promotional CSOs (NGOs) and firms has

been an antagonistic one
In recent years, firms and NGOs have tried partnering instead
Oxfam and Marks & Spencer
Unilever and Oxfam
Coca-Cola and WWF
UNICEF & P&G (Pampers)

Слайд 94“Social entrepreneurship is the process of recognizing and relentlessly pursuing opportunities

to create social value.” (Center for the Advancement of Social Entrepreneurship, Duke University)



What is Social Entrepreneurship?

Слайд 95Key differences between social enterprise, CSOs & corporations
Sources: Dees (1998); Defourny

and Nyssens (2006); Nicholls (2006)

Слайд 96
Conclusion

Слайд 97Make sure you write clearly – always good if the marker

is able to read your answer
Make sure you answer the question – think carefully what the essence of the question is
Pay attention to details. Some questions have sub-parts. Address them all.
Good luck with the preparations and the exam


Final Notes

Слайд 98



THANK YOU
and
GOOD LUCK!

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