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Business, Institutions, and Ethics

A Text with Cases and Readings

John W. Dienhart

Publication Date - October 1999

ISBN: 9780195080803

512 pages
6-1/2 x 9-1/4 inches

Retail Price to Students: $129.99


Business, Institutions, and Ethics: A Text with Cases and Readings is the first text to use the analysis of social institutions to examine business ethics. It explains fundamental concepts in ethics and how to apply them to business and economics. The author shows how social institutions are constituted by an integrated set of ethical, economic, and legal principles, and then uses these principles to study the ethics of commerce at the individual, organizational, and market levels. This unique work features thirty-four cases and articles that are organized into economic categories, providing a conceptual unity and flexibility not found in similar texts.
The first half of the text focuses on theory, beginning with a case study that illustrates and unifies the theoretical discussions that follow. It examines market institutions, organizational structure, and individual decision making; interprets moral development as a process within institutional settings; and explains egoism, care, utilitarianism, right, and pluralistic ethical theories. It also discusses how economic analyses of markets and firms incorporate ethical principles, and argues that law reinforces ethical and economic aspects of social institutions important to the continued existence and well-being of society. The second half of the text consists of cases and articles organized by the economic categories of property, risk-reward relationships, information, and competition. Topics covered include corporate control, workplace dangers, marketing, and manufacturing relocation. Applicable in both business schools and philosophy departments, Business, Institutions, and Ethics shows how ethical principles can help us gather, sort, and interpret information necessary for making sound business decisions. Ideal for courses in business ethics and business and society, it is also a valuable reference for business professionals and philosophers.

Table of Contents

    Unifying Diverse Issues
    Building a Model of the Business Environment
    A Unifying Case Study: S and R Electronics (A)
    Part I: Markets, Organizations, and Individuals
    Part II: Ethics, Economics, and Law: An Institutional Approach to Decision Making
    Part III: Applying the Framework: Cases and Articles
    S and R Electronics (A): Case Study for Parts I and II
    Using the S and R Case
    1. Market Institutions, Organizational Practices, and Individual Decision Making
    Institutions, Douglass North
    Managing for Organizational Integrity, Lynn Sharp Paine
    Ethical Leadership and the Psychology of Decision Making, David M. Messick and Max H. Bazerman
    2. Ethical Decision Making: Psychological Foundations
    Ethics in Personal and Business Settings
    Ethical Conflicts and Their Context
    Understanding Institutions: Kohlberg's Rights-Based Theory of Moral Development
    Understanding Institutions: Gilligan's Care-Based Theory of Moral Development
    Three Conditions of a Successful Decision-Making Strategy
    Moral Imagination and Expanding the Domain of Post-Conventional Reasoning
    Ethical Decision Making: Opportunities and Constraints in Organizations
    Organizing Decision Making
    Summary and Transition to Chapter 3
    3. Ethical Decision Making: Exploring Alternative Values
    Ethical Rules and Principles: The Need for Interpretation
    Self-Interest and Decision Making: Epicurus and Ayn Rand
    Caring and Decision Making: Mary Midgley, Nel Noddings, and Marilyn Friedman
    Group Well-Being and Decision Making, David Hume and John Stuart Mill
    Intrinsic Value and Decision Making, Immanuel Kant, Robert Nozick, and John Rawls
    Ethical Pluralism and Decision Making, Adam Smith and Aristotle
    Summary and Transition to Chapter 4
    4. Economics and Ethical Decision Making
    From Ethics to Economics: Markets as Ethical Engines
    Economic Institutions
    Institutions and Market Conditions: Property, Risk-Reward Relationships, Information, and Competition
    Individuals in Organizations: Goals or Contracts?
    Making Decisions within Economic Institutions
    Summary and Transition to Chapter 5
    Appendix: Pareto Efficiency
    5. Law and Ethical Decision Making
    Integrating Ethical, Economic, and Legal Principles
    The Reinforcement View of Law: Institutions and Social Stability
    The Content of Law: Reinforcing Ethical Values and Economic Relationships
    The Challenge of Public Choice Theory
    A Closer Look at Government Regulation: Three Views
    Environmental Regulatory Law: Command and Control, Market Based, and Reflexive
    S and R Electronics (B): Integrating Individuals, Organizations, and Markets
    Summary of Chapter 5 and Transition to Part III
    Using the Framework Developed in Part II to Understand and Evaluate Cases and Articles
    6. Property
    The Control and Use of Corporate Property
    Property and the Environment
    International: The Control and Use of Corporate Property
    International: Property and the Environment
    Case: Agrico, Inc.--A Software Dilemma. H. Jeff Smith
    The Social Responsibility of Business Is to Increase Its Profits, Milton Friedman
    Deriving Ethical Principles from Theories of the Firm, Philip L. Cochran
    A Stakeholder Theory of the Modern Corporation, R. Edward Freeman
    Getting Real: Stakeholder Theory, Managerial Practice, and the General Irrelevance of Fiduciary Duties Owed to Shareholders, Richard C. Marens and Andrew D. Wicks
    Case: Diablo Canyon: Nuclear Energy and the Public Welfare A.R. Gini
    People or Penguins: The Case for Optimal Pollution, William F. Baxter
    Morality, Money, and Motor Cars, Norman Bowie
    Case: Plasma International T.W. Zimmerer and P.L. Preston
    Ethical Dilemmas for the Multinational Enterprise: A Philosophical Overview, Richard T. DeGeorge
    The Moral Responsibility of Multinational Corporations to Be Socially Responsible, Patricia H. Werhane
    International Business Ethics: The Aluminum Companies in Jamaica, Manuel Velasquez
    Case: U.S. and Mexico Confront a Toxic Legacy Colum Lynch
    The Ethics of Development and the Dilemmas of Global Environmentalism, David P. Hanson
    7. Risk-Reward Relationships
    Case: Kate Simpson Cara F. Jonassen
    Employment at Will and Due Process, Patricia H. Werhane and Tara J. Radin
    Case: Johnson Controls and Protective Exclusion from the Workplace Anne T. Lawrence
    The Right to Risk Information and the Right to Refuse Workplace Hazards, Ruth R. Faden and Tom L. Beauchamp
    Case: Merck & Co., Inc. The Business Enterprise Trust
    The Moral Authority of Transnational Corporate Codes, William C. Frederick
    Case: Wait International and Questionable Payments Charles R. Kennedy, Jr.
    The Foreign Corrupt Practices Act Amendments of 1988: "Death" of a Law, Bartley A. Brennan
    8. Information
    Advertising and Marketing
    Case: Natural Cereals Norman E. Bowie and Patrick E. Murphy
    Advertising and Behavior Control, Robert L. Arrington
    Persuasive Advertising, Autonomy, and the Creation of Desire, Roger Crisp
    Case: The Case of the Willful Whistle-Blower Sally Seymour
    Whistleblowing and Employee Loyalty, Ronald Duska
    Case: The Transfer of Dangerous Industries to Underdeveloped Countries Richard T. DeGeorge
    Chemical Exports and the Age of Consent: The High Cost of International Export Control Proposals, Michael P. Walls
    9. Competition
    Ethics and Competition
    Case: Seizure of the S.W. Parcel Tom L. Beauchamp
    Some Ethical Consequences of Economic Competition, James H. Michelman
    Case: Tee-Shirts and Tears: Third World Suppliers to First World Markets Laura B. Pincus
    Case: Two Roads to China: Nice, and Not So Nice David E. Sanger
    The Moral Obligations of Multinational Corporations, Norman Bowie

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