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  • 1. Chapter 2 Business Ethics and Social Responsibility cc licensed ( BY NC ND ) flickr photo by Stephen Wu: http://flic.kr/p/tZ1LP
  • 2. cc licensed ( BY ) flickr photo by Robert Couse-Baker: http://flic.kr/p/dBYAqq
  • 3. Ford Pinto • Developed by Ford in response to popularity of small imports • Developed in 25 months (usually 43) • Limits of 2,000 – <2,000 lbs – <$2,000.00 VW Beetle, ©carblueprints.info
  • 4. Ford Pinto • 40 crash tests >25mph: all ruptured fuel tank without modification • Ford owned a patent on a safer fuel tank design • Cost-benefit analysis: – Life = $200,000 – Cost of modification = $11 – 180 deaths/180 burn injuries: $49.5M – 11M cars, 1.5M trucks: $137M
  • 5. Ethics: How do we know what is right? • • • • Outcome-based: Utilitarianism Duty/responsibility-based: Deontology Categorical Imperative Religion: The Golden Rule
  • 6. Stakeholders • • • • • Customers Suppliers Employees Investors/owners Society
  • 7. Duties/Responsibilities? • Customers? – Safe products – Accurate information • Suppliers? – Honesty – Payment • Investors? – Disclosure – Profit • Employees? – Equal treatment – Safety • Society? – Externalities
  • 8. externalities http://en.wikipedia.org/wiki/User:Mikm
  • 9. conflict of interest Generally: when someone is involved in multiple interests, one of which could possibly corrupt the motivation for an act in the other Specifically: any situation in which someone is in a position to exploit a professional or official capacity in some way for their personal benefit en.wikipedia.org/wiki/Conflict_of_interest
  • 10. ethical fallacies
  • 11. cc licensed ( BY NC SA ) flickr photo by Avi: http://flic.kr/p/6KT6aR
  • 12. If I don't do it, someone else will.
  • 13. cc licensed ( BY NC ) flickr photo by Brook Ward: http://flic.kr/p/dW4c2G
  • 14. I have a duty to my family.
  • 15. Entitled to own opinion but not own facts • Use the facts given in the case • Do not change facts to suit your conclusion • Conclusion must follow from facts
  • 16. Holland Hardware Case 1. What decision does Matt have to make? 2. Who are the stakeholders? 3. Do their interests conflict? 4. What externalities are involved? 5. What duties does Matt have? 6. Does Matt have a conflict of interest? 7. What is it? 8. What system of ethical reasoning should Matt use? 9. Why? 10. What decision should Matt make, and why?