Business Ethics Final

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The current economic meltdown escalated by the recent chaos in the banking and financial industry has rekindled discussions about the ethical practices of businesses. Are business schools to blame or are we all responsible for the meltdown? What guiding principles should future decision-makers follow? Answer these questions by revisiting the complex subject of ethics in this presentation.

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Business Ethics Final

  1. 1. © 2009 Berlin Asong. All rights reserved. 3
  2. 2. © 2009 Berlin Asong. All rights reserved. 4
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  6. 6. © 2009 Berlin Asong. All rights reserved. 8
  7. 7. © 2009 Berlin Asong. All rights reserved. 9
  8. 8. Stanley O’Neal, former CEO & Chairman of now defunct Merill Lynch. © 2009 Berlin Asong. All rights reserved. 10
  9. 9. John Thain, former CEO & Chairman of now defunct Merill Lynch. © 2009 Berlin Asong. All rights reserved. 11
  10. 10. Rick Wagoner, former CEO of bankrupt-to- be GM. © 2009 Berlin Asong. All rights reserved. 12
  11. 11. Robert Nardelli, former CEO of bankrupt Chrysler. © 2009 Berlin Asong. All rights reserved. 13
  12. 12. CEO of Citigroup; former Prof. of Columbian Business School & financier of Morgan Stanley. © 2009 Berlin Asong. All rights reserved. 14
  13. 13. © 2009 Berlin Asong. All rights reserved. 15
  14. 14. © 2009 Berlin Asong. All rights reserved. 16
  15. 15. HBS HBS LBS HBS CBS © 2009 Berlin Asong. All rights reserved. 17
  16. 16. © 2009 Berlin Asong. All rights reserved. 18
  17. 17. © 2009 Berlin Asong. All rights reserved. 19
  18. 18. © 2009 Berlin Asong. All rights reserved. 20
  19. 19. © 2009 Berlin Asong. All rights reserved. 21
  20. 20. “ The Study of Right & Wrong ” © 2009 Berlin Asong. All rights reserved. 23
  21. 21. “ ” Peter Stanwick & Sarah Stanwick (2009)“Understanding Business Ethics” © 2009 Berlin Asong. All rights reserved. 24
  22. 22. © 2009 Berlin Asong. All rights reserved. 25
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  29. 29. “ ” © 2009 Berlin Asong. All rights reserved. 32
  30. 30. © 2009 Berlin Asong. All rights reserved. 33
  31. 31. © 2009 Berlin Asong. All rights reserved. 34
  32. 32. © 2009 Berlin Asong. All rights reserved. 35
  33. 33. Laws Experience Religion Common Traditions Sense © 2009 Berlin Asong. All rights reserved. 36
  34. 34. What is right & wrong is often subjective . © 2009 Berlin Asong. All rights reserved. 37
  35. 35. What is right & wrong is universally non-binding . © 2009 Berlin Asong. All rights reserved. 38
  36. 36. © 2009 Berlin Asong. All rights reserved. 39
  37. 37. Ethical Decisions © 2009 Berlin Asong. All rights reserved. 41
  38. 38. “ The moral basis or implications of a decision situation. ” © 2009 Berlin Asong. All rights reserved. 42
  39. 39. © 2009 Berlin Asong. All rights reserved. 43
  40. 40. (L-R) Mr. Jeffrey K. Skilling, former President and CEO of Enron Corporation; Dr. Robert Jaedicke, Board of Directors Chairman of Audit and Compliance Committee of Enron Corporation; and Mr. Herbert S. Winokur, Jr., Board of Directors Chairman of the Finance Committee of Enron Corporation, during the Oversight and Investigation Subcommittee hearing. © 2009 Berlin Asong. All rights reserved. 44
  41. 41. WorldCom Accounting Scandal Revealed: 3.8 billion in mislabeled expenses had been used to inflate cash flow and hide losses in 2001 and early 2002. Shown is former Worldcom CEO Bernard Ebbers, © 2009 Berlin Asong. All rights reserved. 45
  42. 42. Ethical Dilemma © 2009 Berlin Asong. All rights reserved. 46
  43. 43. “ ” © 2009 Berlin Asong. All rights reserved. 47
  44. 44. © 2009 Berlin Asong. All rights reserved. 48
  45. 45. Food vs. Fuel Using corn to make bio-fuel (alternative fuel to power vehicles) when 9 million people (5 million are children) die each year of hunger? Causes of Hunger are related to Poverty www.globalissues.org © 2009 Berlin Asong. All rights reserved. 49
  46. 46. © 2009 Berlin Asong. All rights reserved. 50
  47. 47. © 2009 Berlin Asong. All rights reserved. 51
  48. 48. © 2009 Berlin Asong. All rights reserved. 52
  49. 49. © 2009 Berlin Asong. All rights reserved. 53
  50. 50. © 2009 Berlin Asong. All rights reserved. 54
  51. 51. No justification f o r “ i m m o r a l a c t i o n s ” . © 2009 Berlin Asong. All rights reserved. 55
  52. 52. © 2009 Berlin Asong. All rights reserved. 56
  53. 53. © 2009 Berlin Asong. All rights reserved. 57
  54. 54. Deontological approach is difficult to apply. Why? © 2009 Berlin Asong. All rights reserved. 58
  55. 55. 1 © 2009 Berlin Asong. All rights reserved. 59
  56. 56. © 2009 Berlin Asong. All rights reserved. 60
  57. 57. 2 “Moral rights” are not universal. © 2009 Berlin Asong. All rights reserved. 61
  58. 58. © 2009 Berlin Asong. All rights reserved. 62
  59. 59. 3 “Moral rights” | laws | regulations are subject to interpretation. © 2009 Berlin Asong. All rights reserved. 63
  60. 60. © 2009 Berlin Asong. All rights reserved. 64
  61. 61. © 2009 Berlin Asong. All rights reserved. 65
  62. 62. © 2009 Berlin Asong. All rights reserved. 66
  63. 63. Lying, cheating, killing, etc are justifiable under certain conditions. When maximum benefits outweighs the maximum bad. © 2009 Berlin Asong. All rights reserved. 67
  64. 64. Teleological approach creates more problems than it solves. © 2009 Berlin Asong. All rights reserved. 68
  65. 65. 1 Every behaviour is right as long I can justify it. © 2009 Berlin Asong. All rights reserved. 69
  66. 66. 2 No standard application o f “ M o r a l r i g h t s ” | l aw s | re g u l a t i o n s © 2009 Berlin Asong. All rights reserved. 70
  67. 67. 3 Maximum good is subjective © 2009 Berlin Asong. All rights reserved. 71
  68. 68. 4 “good” Are humans capable to make judgement of the “maximum” good? © 2009 Berlin Asong. All rights reserved. 72
  69. 69. Herbert Simon – American Psychologist 1916-2001 ... explains why © 2009 Berlin Asong. All rights reserved. 73
  70. 70. How good is the information you received? © 2009 Berlin Asong. All rights reserved. 74
  71. 71. © 2009 Berlin Asong. All rights reserved. 75
  72. 72. Ethical Decision-Making © 2009 Berlin Asong. All rights reserved. 76
  73. 73. Identify the ethical issue Monitor decision Define the outcomes ethical issue Make & justify the Identify influencing ethical decision factors Select guiding principles © 2009 Berlin Asong. All rights reserved. 77
  74. 74. Identify the ethical issue Monitor decision Define the outcomes ethical issue Make & justify the Identify influencing ethical decision factors Select guiding principles © 2009 Berlin Asong. All rights reserved. 78
  75. 75. What factors do shape your ability to identify an ethical issue? © 2009 Berlin Asong. All rights reserved. 79
  76. 76. Goals Knowledge Interests Past Experiences Cultural set Education Other Info. © 2009 Berlin Asong. All rights reserved. 80
  77. 77. © 2009 Berlin Asong. All rights reserved. 81
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  80. 80. © 2009 Berlin Asong. All rights reserved. 84
  81. 81. “The fundamentals of our economy are strong. ” 15 Sept. 2008, Jacksonville, Florida Rep. Senator & former US presidential candidate © 2009 Berlin Asong. All rights reserved. 85
  82. 82. Did they see “it” coming? © 2009 Berlin Asong. All rights reserved. 86
  83. 83. Identify the ethical issue Monitor decision Define the outcomes ethical issue Make & justify the Identify influencing ethical decision factors / actors Select guiding principles © 2009 Berlin Asong. All rights reserved. 87
  84. 84. Do you have complete information to understand the problem? © 2009 Berlin Asong. All rights reserved. 88
  85. 85. Ethical but Unethical & Illegal Illegal Illegal Legal and Legal but Legal Ethical unethical Ethical Unethical © 2009 Berlin Asong. All rights reserved. 89
  86. 86. Ethical but Unethical & Illegal Illegal Illegal Legal and Legal but Legal Ethical unethical Ethical Unethical © 2009 Berlin Asong. All rights reserved. 90
  87. 87. Identify the ethical issue Monitor decision Define the outcomes ethical issue Make & justify the Identify influencing ethical decision factors / actors Select guiding principles © 2009 Berlin Asong. All rights reserved. 91
  88. 88. What | who is at stake? © 2009 Berlin Asong. All rights reserved. 92
  89. 89. Stakeholder Stakeholder High A B Low Stakeholder Stakeholder C D Low High Adapted from Mitchell, et al. 1997 © 2009 Berlin Asong. All rights reserved. 93 Gardner et al. 1986
  90. 90. Identify the ethical issue Monitor decision Define the outcomes ethical issue Make & justify the Identify influencing ethical decision factors / actors Select guiding principles © 2009 Berlin Asong. All rights reserved. 94
  91. 91. Deontological Teleological © 2009 Berlin Asong. All rights reserved. 95
  92. 92. Identify the ethical issue Monitor decision Define the outcomes ethical issue Make & justify the Identify influencing ethical decision factors / actors Select guiding principles © 2009 Berlin Asong. All rights reserved. 96
  93. 93. Identify the ethical issue Monitor decision Define the outcomes ethical issue Make & justify the Identify influencing ethical decision factors / actors Select guiding principles © 2009 Berlin Asong. All rights reserved. 97
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