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Business Ethics

by O.C. Ferrell

Publisher:

Delmar Cengage Learning

ISBN-13:

9781439042236

2010

Edition:

8th

Pages:

528

Binding:

Hardcover

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$122.95

Providing a vibrant new four-color design, market-leading BUSINESS ETHICS: ETHICAL DECISION MAKING AND CASES, thoroughly covers the complex environment in which managers confront ethical decision making. Using a proven managerial framework, the authors address the overall concepts, processes, and best practices associated with successful business ethics programs—helping readers see how ethics can be integrated into key strategic business decisions. In addition, the new eighth edition incorporates comprehensive and rigorous updates that reflect the recent economic crisis and the ever-increasing academic and governmental attention being given to this area.

Chapter 1 The Importance of Business Ethics
An Ethical Dilemma
Business Ethics Defined
The Development of Business Ethics
Before 1960: Ethics in Business
The 1960s: The Rise of Social Issues in Business
The 1970s: Business Ethics as an Emerging Field
The 1980s: Consolidation
The 1990s: Institutionalization of Business Ethics
The Twenty-First Century: A New Focus on Business Ethics
Developing an Organizational and Global Ethical Culture
The Benefits of Business Ethics
Ethics Contribute to Employee Commitment
Ethics Contribute to Investor Loyalty
Ethics Contribute to Customer Satisfaction
Ethics Contribute to Profits
Our Framework for Studying Business Ethics
Resolving Business Challenges

Chapter 2 Stakeholder Relationships Social Responsibility and Corporate Governance
Stakeholders Define Ethical Issues
Identifying Stakeholders
A Stakeholder Orientation
Social Responsibility and the Importance of a Stakeholder Orientation
Social Responsibility and Ethics
Corporate Governance Provides Formalized Responsibility to Stakeholders
Views of Corporate Governance
The Role of Boards of Directors
Implementing A Stakeholder Perspective

Chapter 3 Emerging Business Ethics Issues
Recognizing An Ethical Issue
Honesty
Fairness
Integrity
Abusive or Intimidating Behavior
Lying
Conflicts of Interest
Bribery
Corporate Intelligence
Discrimination
Sexual Harassment
Environmental Issues
Fraud
Financial Misconduct
Insider Trading
Intellectual Property Rights
Privacy Issues
The Challenge of Determining an Ethical Issue in Business

Chapter 4 The Institutionalization of Business Ethics
Managing Ethical Risk through Mandated and Voluntary Programs
Mandated Requirements for Legal Compliance
Laws Regulating Competition
Laws Protecting Consumers
Laws Promoting Equity and Safety
Laws Protecting the Environment
Gatekeepers and Stakeholders
Accountants
Risk Assessment
The Sarbanes-Oxley Act
Public Company Accounting Oversight Board
Conflicts of Interest: Auditor and Analyst Independence
Enhanced Financial Disclosures
Whistle-Blower Protection
Corporate and Criminal Fraud Accountability
Cost of Compliance
Laws That Encourage Ethical Conduct
Federal Sentencing Guidelines for Organizations
Highly Appropriate Core Practices
Philanthropic Contributions
Strategic Philanthropy

Chapter 5 Ethical Decision Making and Ethical Leadership
A Framework for Ethical Decision Making in Business
Ethical Issue Intensity
Individual Factors
Organizational Factors
Opportunity
Business Ethics Evaluations and Intentions
Using the Ethical Decision Making Framework to Improve Ethical Decisions
The Role of Leadership in a Corporate Culture
Leadership Styles Influence Ethical Decisions
Habits of Strong Ethical Leaders
Ethical Leaders Have Strong Personal Character
Ethical Leaders Have a Passion to Do Right
Ethical Leaders Are Proactive
Ethical Leaders Consider Stakeholders' Interests
Ethical Leaders Are Role Models for the Organization's Values
Ethical Leaders Are Transparent and Actively Involved in Organizational Decision Making
Ethical Leaders Are Competent Managers Who Take a Holistic View of the Firm's Ethical Culture

Chapter 6 Moral Philosophies and Values
Moral Philosophy Defined
Moral Philosophies
Goodness-Instrumental and Intrinsic
Teleology
Deontology
Relativist Perspective
Virtue Ethics
Justice
Applying Moral Philosophy to Ethical Decision Making
Cognitive Moral Development
White-Collar Crime
The Role of Individual Factors in Business Ethics

Chapter 7 Organization Factors: The Role of Ethical Culture and Relationships
Defining Corporate Culture
The Role of Corporate Culture in Ethical Decision Making
Ethics as a Component of Corporate Culture
Compliance versus Value-based Ethical Cultures
Differential Association
Whistle-Blowing
Leaders Influence Corporate Culture
Reward Power
Coercive Power
Legitimate Power
Expert Power
Referent Power
Motivating Ethical Behavior
Organizational Structure and Business Ethics
Group Dimensions of Corporate Structure and Culture
Types of Groups
Group Norms
Variation in Employee Conduct
Can People Control Their Own Actions Within a Corporate Culture?

Chapter 8 Developing an Effective Ethics Program
The Responsibility of the Corporation as a Moral Agent
The Need for Organizational Ethics Programs
An Effective Ethics Program
Values versus Compliance Programs
Codes of Conduct
Ethics Officers
Ethics Training and Communication
Systems to Monitor and Enforce Ethical Standards
Continuous Improvement of the Ethics Program
Common Mistakes in Designing and Implementing an Ethics Program

Chapter 9 Implementing and Auditing Ethics Programs
The Ethics Audit
Ethical Crisis Management and Recovery
Challenges of Measuring Nonfinancial Performance
Risks and Requirements in Ethics Auditing
Resolving Ethical Business Challenges

Chapter 10 Globalization of Ethical Decision Making
Capitalism, Economics and Business Ethics
Common Values Goals and Business Practices
Global Business Practices
Consumerism
Human Rights
Health Care
Labor
Sustainable Development
International Monetary Fund (IMF)
World Trade Organization (WTO)
The Multinational Corporation (MNC)

Case Studies
Case 1 Monsanto Attempts to Balance Stakeholder Interests
Case 2 Wal-Mart: The Future is Sustainability
Case 3 The American Red Cross
Case 4 Countrywide Financial: The Subprime Meltdown
Case 5 Arthur Andersen: Questionable Accounting Practices
Case 6 Coping with Financial and Ethical Risks at American International Group (AIG)
Case 7 Starbucks' Mission: Social Responsibility and Brand Strength
Case 8 The Fraud of the Century: The Case of Bernard Madoff
Case 9 NIKE: Managing Ethical Missteps-Sweatshops to Leadership in Employment Practices
Case 10 Banking Industry Meltdown: The Ethical and Financial Risks of Derivatives
Case 11 The Coca-Cola Company Struggles with Ethical Crises
Case 12 Enron: Questionable Accounting Leads to Collapse
Case 13 BP (Beyond Petroleum) Focuses on Sustainability
Case 14 Tyco International: Leadership Crisis
Case 15 Responds to Ethical Challenges
Case 16 PETCO Develops Successful Stakeholder Relationships
Case 17 Home Depot Implements Stakeholder Orientation
Case 18 New Belgium Brewing: Ethical and Environmental Responsibility

About the Authors:

Dr. O. C. Ferrell (Ph.D., Louisiana State University) is Professor of Marketing and Creative Enterprise Scholar at the Anderson Schools of Management at the University of New Mexico. Dr. Ferrell has a distinguished teaching career including being a Distinguished Professor of Business Ethics at the University of Wyoming, Marketing Chair at Colorado State University, Professor of Marketing and Business Ethics at the University of Memphis, professor at the University of Tampa, Texas A&M University, Illinois State University, and Southern Illinois University. His MBA and BA degrees are from Florida State University. Needless to say his teaching career is broad including courses up and down the marketing curriculum?both domestically and internationally. Dr. Ferrell is also an accomplished author with contributions within 17 books and more than 75 articles. Dr. Ferrell has served as an expert witness in many high-profile civil litigation cases related to marketing ethics. More recently he has assisted international corporations and worked with state regulatory agencies in modifying marketing programs to maintain compliance with both ethical and legal requirements. He has appeared on the NBC Today show and he has been quoted in national papers such as USA Today.

John Fraedrich is the James J. Jannetides Professor of Business Ethics at Southern Illinois University at Carbondale. He also teaches on special assignments at universities abroad. Dr. Fraedrich has completed extensive research in the areas of marketing and ethics. His numerous articles have been published in the JOURNAL OF MACRO MARKETING, JOURNAL OF BUSINESS ETHICS, and many other journals. He received his B.S. from Brigham Young University, his M.S. from Texas A&M University, and his Ph.D. in marketing from Texas A&M University in 1988.

Dr. Linda Ferrell teaches at the University of New Mexico. In addition to this text, Dr. Ferrell has coauthored BUSINESS & SOCIETY with O. C. Ferrell and Debbie M. Thorne. She completed her Ph.D. at the University of Memphis. She won the best paper award twice at the American Marketing Association's National Summer Educators Meeting and has published articles in the JOURNAL OF BUSINESS ETHICS and the CASE RESEARCH JOURNAL.