Applied Business Ethics: An Exploration of the Use and Impact of Ethical Practices in the Workplace
Edition: 2
Copyright: 2018
Edition: 2
Copyright: 2018
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Business organizations, and those persons who lead them, invest in them, work for them, and who are affected by them, have long struggled to find a reliable framework to identify and resolve dilemmas to which there is no clear “right” or “wrong” decision – where a specific moral standard or belief system does not, or cannot, provide a readily apparent answer. Particularly over the past three decades, theorists and business managers alike have attempted to address this problem by experimenting with a variety of decision-making models. Two of the most popular – and most widely taught – models are stakeholder theory and corporate social responsibility. They are described as “ethical,” which, in turn, is understood as being identical to “moral.” However, in the practical to-and-fro of everyday business operations, these two models – as well as the viewpoint that ethics are equal to morals – fall short of what business organizations need.
Applied Business Ethics: An Exploration of the Use and Impact of Ethical Practices in the Workplace explores a more real-world methodology, which acknowledges every legitimate business’ underlying purpose – its reason for existence: to advance constructive, sustainable prosperity. Author Steven L. Lovett takes a “tool-kit” approach to the topic of ethical decision-making in the workplace, drawing from an assortment of ethical paradigms to help readers construct an adaptable, valid framework for tackling almost any dilemma in an organizational setting. Packed with thought experiments, examples, and real-world applications, this fully updated, new edition is designed to increase students’ ethical competence and critical thinking skills.
Preface
About the Author
UNIT ONE: THE MEANING OF ETHICS IN BUSINESS
CHAPTER 1 Ethics and Business: Beyond Theory
Learning Outcomes | Outline
Opening Thought Experiment
1.1 Fairness and Justice in Business
1.2 Freedom versus Responsibility
1.3 Societal Expectations and the Law
1.4 The Compass of Prosperity
1.5 Morals and Ethics—Articulating an Important Distinction
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
CHAPTER 2 Ethical Theories: Learning the Languages of Decision-Making Processes
Learning Outcomes | Outline
Opening Thought Experiment
2.1 How Individuals Make Decisions
2.2 How Businesses Make Decisions
2.3 Critical Thinking, Rationalizations, and Logical Fallacies
2.4 Ethical Frameworks and Philosophies
Virtue Ethics
Ethical Relativism
Kantian Ethics (Deontology)
Utilitarian Ethics
Free Market Ethics
Egoist Ethics
Ethics of Care
Ethical Justice
Teleological Ethics
2.5 Using Ethical Languages in the Decision-Making Process
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
CHAPTER 3 The Mechanics of Decision-Making: Influences, Values, and Consequences
Learning Outcomes | Outline
Opening Thought Experiment
3.1 Business Ethics in the 21st Century
3.2 Values and Skills
3.3 Marketplace Influences and Consequences
3.4 Individual Factors in Business Ethics
3.5 Organizational Structure and Ethics
3.6 Organizational Factors and Normative Considerations
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
UNIT TWO: THE ROLE OF ETHICS IN BUSINESS
CHAPTER 4 Vested Interests: Organizational Motivations, Responsibilities, and Relationships with Affected Parties
Learning Outcomes | Outline
Opening Thought Experiment
4.1 Advancing the Business Purpose
4.2 The Marketplace and Society
4.3 The Marketplace and Government
4.4 Corporate Social Responsibility
4.5 Stakeholder Theory versus Shareholder Theory
4.6 Core Practices and Voluntary Accountability
4.7 The Significance of Organizational Trust
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
CHAPTER 5 Corporate Cultures: The Roles and Impact of Leadership and Governance
Learning Outcomes | Outline
Opening Thought Experiment
5.1 The Concept of Corporate Culture
5.2 Benefits of Ethical Practices
5.3 Compliance versus Value-Based Cultures
5.4 Corporate Governance
5.5 Individual Leadership and Leadership Styles
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
CHAPTER 6 The Creative Destruction of Business Ethics
Learning Outcomes | Outline
Opening Thought Experiment
6.1 Maximizing the “Prosperity Opportunity”
6.2 Voluntary Cooperation and Setting Expectations
6.3 Challenge Processes and Driving Constructive Change
6.4 Value Creation and Measures
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
UNIT THREE: THE APPLICATION OF ETHICS IN BUSINESS
CHAPTER 7 Ethics Programs: Knowledge Processes and Decision Rights
Learning Outcomes | Outline
Opening Thought Experiment
7.1 The Case and Construct for an Ethics’ Program
7.2 Identifying Ethical Issues and Dilemmas
7.3 Dissecting Ethical Dilemmas
7.4 Tools of Ethics’ Management: Experiment, Observe, and Evaluate
Experiment
Observe
Analyze
7.5 Managing Self
Selected Readings
Take-Away Questions and Ideas
Key Terms
ENGAGEMENT—What Do You Think?
CHAPTER 8 Practical Sustainability: Ethics and Resilient Prosperity
Learning Outcomes | Outline
Opening Thought Experiment
8.1 A Practical Approach: Resilient Prosperity
8.2 Resources and Workable Frameworks
8.3 Responsibility, Efficiency, and Creativity
8.4 Taking a Practical Look at the Triple Bottom Line
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnote
ENGAGEMENT—What Do You Think?
CHAPTER 9 The Common Good: Ethical Considerations for Mutual Prosperity
Learning Outcomes | Outline
Opening Thought Experiment
9.1 Working Toward the Common Good
9.2 A Shared Ground for Ethical Frameworks
9.3 The Ripple Effect of Resilient Prosperity
9.4 Energizing Others: Establishing a Collective Purpose
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
UNIT FOUR: CONTEXTS FOR COMMON ISSUES
CHAPTER 10 Workplace Issues
Learning Outcomes | Outline
Opening Thought Experiment
10.1 The Law and Workplace Relationships
10.2 Free Speech and Free Expression
10.3 Equal Protection and Discrimination
10.4 Whistleblowing and Retaliation
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnotes
ENGAGEMENT—What Do You Think?
CHAPTER 11 Common Marketplace Issues
Learning Outcomes | Outline
Opening Thought Experiment
11.1 Financial Practices
11.2 Marketing Practices
11.3 Product Safety and Liability
11.4 Bribery and Corruption
Selected Readings
Take-Away Questions and Ideas
Key Terms
Endnote
ENGAGEMENT—What Do You Think?
CHAPTER 12 Using the Toolkit
The Student as the Teacher
12.1 Chapter 1—Finding a Compass
12.2 Chapter 2—Choosing a Framework
12.3 Chapter 3—The Value Factor
12.4 Chapter 4—The Business Purpose
12.5 Chapter 5—Corporate Culture
12.6 Chapter 6—The Prosperity Opportunity
12.7 Chapter 7—Ethics Programs
12.8 Chapter 8—Resilient Prosperity
12.9 Chapter 9—The Common Good: A Common Ground
Steven Lovett , J.D., is an Assistant Professor of Business Law and Ethics at Emporia State University’s School of Business (AACSB Accredited), and Co-Director of the Koch Center for Leadership & Ethics at Emporia State University. He teaches Business Law and International Business Law courses, along with Business Ethics, Social Responsibility, and Sustainability, at the undergraduate and graduate level. Mr. Lovett is also Of Counsel to the Carrillo Law Firm, PC, where he is senior counsel. Mr. Lovett has served as counsel for a multi-billion dollar credit union, regional banking clients, and private companies on a wide variety of corporate governance issues, compliance and regulatory issues, best practices, outside counsel management, and business-to-business transactional matters. He received his B.A. degree from Texas A&M University and his J.D. degree from St. Mary’s University School of Law. Mr. Lovett is the author of Corporate Counsel Guides: Practice Basics (1st ed., ABA Publishing, 2013) and several trade and journal articles, book chapters, and scholarly papers. He is a member of the American, Federal, Texas State and New Mexico State bar associations and has served on the ABA Corporate Governance, Commercial & Business Litigation and Financial Institution Litigation Committees.