Business Society ETLW 302 Tara Ceranic Salinas Ph

Business & Society ETLW 302 Tara Ceranic Salinas, Ph. D SCHOOL OF BUSINESS

Philosophy’s place in business? § § § Socrates: dare to disagree Aristotle: let people seek fulfillment Plutarch: be a good role model Epictetus: build a resilient mind-set Rufus: keep track of your ethical progress Epicurus: the art of happiness SCHOOL OF BUSINESS

Ethical Dilemmas = Tension §Rules vs. results §Means vs. ends §The good vs. the right §Principle vs. practicality §The needs of many vs. the rights of the few (or the one) SCHOOL OF BUSINESS

Foundational Definitions Morality § Personal compass of values and motives Ethics § Actions that count for meeting shared community values Professional ethics § SCHOOL OF BUSINESS Shared and mutually enforced professional norms

T. L. Ceranic SCHOOL OF BUSINESS Business & Society

T. L. Ceranic SCHOOL OF BUSINESS Business & Society (ETLW 302)

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Emphasis on duty § Universal moral duty to do what is right for it’s OWN sake § Consequences play a minor role § Golden Rule SCHOOL OF BUSINESS

Communicative Ethics • Can be utilized by a group of individuals or organizations to challenge or develop moral standards • Does not prescribe what is ethical • Assumes that the better argument will prevail as a result of inclusive group dialogue • Acknowledges the conflicting values that exist in groups and allows individuals to work together to create a moral theory that will satisfy everyone. SCHOOL OF BUSINESS

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Emphasis on fair systems § Seeks justice and care for those less fortunate SCHOOL OF BUSINESS

John Rawls (1921 -2002) • Free people need to agree on some ground rules in order to live together in harmony. • Original Position/The Veil of Ignorance SCHOOL OF BUSINESS

Principle of Equal Liberty § Each person has an equal right to the most extensive liberties compatible with similar liberties for all. (Egalitarian. ) § Distributive Justice SCHOOL OF BUSINESS

Difference Principle § Social and economic inequalities should be arranged so that they are both: § To the greatest benefit of the least advantaged persons § Attached to offices and positions open to all under conditions of equality of opportunity SCHOOL OF BUSINESS

Robert Nozick (1938 -2002): Entitlement Theory of Justice • Individual holdings of various social and economic goods are justified only if they derive from just acquisitions or (voluntary) transfers. • No safety nets allowed! • acquisitions from social programs are not just because they are funded through the involuntary transfer of wealth via taxation and are therefore taboo. SCHOOL OF BUSINESS

Role of the State § Ought to be severely limited: § Police protection § National defense § Administration of courts of law § Education, social insurance, welfare, etc. § Should be taken over by religious bodies, charities, and other private institutions operating in a free market SCHOOL OF BUSINESS

Rationality (BLACK/WHITE) §Pros § Protects the means § Protects individual rights § Morally more appealing §Cons § Inflexible § Impractical SCHOOL OF BUSINESS

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Emphasizes goals and outcomes The purpose of morality is to make life better by INCREASING the amount of good things (such as pleasure and happiness) in the world and DECREASING the amount of bad things (such as pain and unhappiness). SCHOOL OF BUSINESS

Egoism § An action is rational if and only if it maximizes one's self-interest SCHOOL OF BUSINESS

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Emphasis on virtue What makes us responsible and virtuous citizens within our workplace/community? SCHOOL OF BUSINESS

Virtue Ethics

Ethics of Care: Caring vs. justice 1938 -present SCHOOL OF BUSINESS

When do we have an obligation to care? 1. A relationship exists 2. A need for care exists 3. We have the ability to provide care SCHOOL OF BUSINESS

Stoicism Does not seek to extinguish emotions completely, but to transform them by an abstinence from worldly pleasures, which enables a person to develop clear judgment, inner calm and freedom from suffering: the ultimate goal.

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Sensibility (GREY) § Pros § Maximization of the good § “Easy” decision process § Popular § Cons § Measurement § The means § Individual rights SCHOOL OF BUSINESS

Building Blocks of Ethical Theories Rationality (reason/head) Rights/Responsibilities Lens Relationship Lens (Deontological Theories) (Justice Theories) Autonomy Equality (individual) (community) Results Lens Reputation Lens (Consequentialist Theories) (Virtue Theories) Sensibility (intuition/heart) SCHOOL OF BUSINESS