Ethics are the guidance or rules of conduct by which we try to live. 

There is one set of rules commont to everyone and unlikely to change

Ethical principles should be obeyed regardless of situations or pressures

Many sets of rules 

Rules can change

Decisions depend on the situation

When in Rome, do as the Romans do

Non-consequential perspective.

Acts are good or bad in themselves.

Action based approach to morality.

Consequential approach

Outcome based morality

An act is right or wrong depending on the favourability of the outcome. 

Philosopher who believed morality should be considered seperately from religion.

Moral truth is drive by reason.

Held a deontological perspective. 

Pioneered 'CATEGORICAL IMPERATIVES' - You have moral obligations regardless of desire. It's not fair to make acceptions for yourself. 

18th Century Scottish philosopher.

Teleological approach to ethics.

"Reason is the slave of passion."

Morality based on more than just reason, but rather emotions involved also

3 Stages:

Pre conventional

1. Obedience and punishment

2. Instrumental purpose and exchange (reward)

Conventional

3. Interpersonal accord (copying others)

4. Social accord & system maintenance (rule follower)

Postconventional 

5. Social contract and individual rights (challenge status quo, what is right, not what is legal)

6. Universal ethical principles (free from external influence)

Teleological approach

Maximise pleasure, minimise pain

Goia, example of Ford Pinto cost benefit analysis

We should always act as to produce the greatest good for the greatest number

Rule utilitarianism is when long term is considered

Character based morality rather than rules

If you become virtuous, the right, moral actions will come naturally.

Doctrine of the mean: avoiding both excess and deficiency

EG courage instead of recklessness (excess) and cowardice (deficiency) or generosity as opposed to giving too much or too little

Relate this to business - business virtues: ambition, wisdom, courage, opportunistic

Objectivism

Acting in a way that benefits oneself

Adopted by author of Atlas Shrugged, Ayn Rand

Rational self interest

Believed business and social responsibilty should be kept seperate

No obligation for businesses to be socially responsible, this is the responsiblity of charity and governments

Business are responsible to their shareholders

Key in development of Stakeholder theory

Businesses are repsonsible to all those who have an interest in their operations

Organisations cannot ignore their responsiblity to stakeholders, even if they have no legal obligation to do so

Argue there is a business case for corporate social responsibilty 

CSR can add competitive advantage

Similar to Husted & Salazaar

Good example for CSR

Ford Britain Trust, comited to social and environmental enterprise

But scandal over Ford Pinto, dangerous design

Facing heavy competition, rushed flawed design which led to explosions and fatalities

Also, carbon intensive, despite pledging to be more environmentally freindly 

Chevrolet Malibu incident

Cost benefit analysis discussed in Bakan's 2004 the externalising machine

risked lives to minimise costs, found guilty and ordered to pay ground breaking sum of compensation

1. Bribery

2. Divestment

3. Reduction of staff

4. Lying/concealing truth to secure deals

5. Learning of potentially harmful design flaws and not recalling them

6. Make up example - not investing in foundations for women with darker skin tones

Is business bluffing ethical

Pressure to decieve

Juniors will defer to seniors

Comparison with poker - its not cheating but still provides you with advantage over your competitors

Article in the Economist

States that businesses should operate seperately from social responsiblity

Similar argumet to Friedman

We cannot isolate the economic elements of major decisions from their social consequences

Corporations are moral mazes

Bracket morality, you adopt different morality at work than at home

Findings on corporations: focus on short term goals and pressure to achieve, deliver good results to superiors can mean morality is different from when at church or at home

Juniors learn from seniors and culture continues

Culture of doing what it takes to achieve success and avoid failure

Moral Myopia

Having different standards for other organisations or actions

Hypocritical?

Think of Pat Robinson example (BOS)