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37588 results in Cambridge Textbooks

Page 1478 of 1880

  • 4 - Ethical issues in human resource management

  • from Part 2 - Business Ethical Issues
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 107-145

  • Summary

    ‘Treating people with respect will gain one wide acceptance and improve the business.’

    Second Business Principle of Tao Zhu Gong (500 BC), Assistant to the Emperor of Yue

    Chapter aim

    To identify current ethical issues in human resource management (HRM).

    Chapter objectives

  • Identify the dominant ethical principles that relate to HRM.

  • Contrast the rights and duties of employees with those of managers.

  • Describe the variety of workplace contexts within which discrimination can occur.

  • Identify specific ethical issues during recruitment and selection, compensation, engaging in the work environment, health and safety and separation from an organisation.

  • Describe the characteristics of a ‘just’ work environment.

    • Introduction

    For most organisations, employees are their largest resource and the most significant financial investment. Consequently, good managers are attentive to ethical issues in relation to human resources and have an overarching concern for fair and proper treatment. Fair treatment involves treating people with respect and upholding their rights. Ethical issues in HRM involve not only the rights and expectations of employees, but also the rights and expectations of the employer. So, for example, while there is undoubtedly a duty of care required of employers, there is also the expectation that employees will provide a meaningful contribution for the reward of pay.

  • 1 - Introduction to business ethics

  • from Part 1 - Business Ethics Overview
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 3-33

  • Summary

    ‘It takes 20 years to build a reputation and five minutes to ruin it.’

    Warren Buffett, 1930–, American investment entrepreneur

    Chapter aim

    To provide an introduction to business ethics and enable the development of a clear understanding of the numerous factors that enhance ethical awareness in business.

    Chapter objectives

  • Gain an appreciation of the range of industry sectors in the business environment that are experiencing ethical challenges.

  • Critique current attitudes to business ethics.

  • Describe the four levels on which business ethics operates.

  • Clarify the concepts of legality, morality, personal character and values in relation to ethics.

  • Differentiate moral relativism from moral absolutism, and extrapolate Kohlberg’s Theory of Moral Development to organisations.

  • Identify which market, government and social drivers are currently operating to increase ethical awareness in business.

    • Introduction

    In what has been described as the worst industrial accident in South Asia since the Bhopal disaster in 1984, the collapse of an eight-storey garment factory at Rana Plaza in Dhaka, Bangladesh, resulted in the deaths of more than 1100 people and a greater number of injuries (‘Disaster at Rana Plaza’ 2013). In the past, this type of event would have been viewed as a tragic incident culminating from poor construction and lack of ongoing maintenance in a localised context, but, in today’s business environment, the circumstances take on a larger and more global perspective in regard to ethical responsibility and culpability.

  • 7 - Ethical issues in financial entities

  • from Part 2 - Business Ethical Issues
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 206-228

  • Summary

    ‘Although gold dust is precious, when it gets in your eyes it obstructs your vision.’

    Hsi-Tang Chih Tsang, 735–814, renowned Zen master

    Chapter aim

    To identify current ethical issues in financial entities.

    Chapter objectives

  • Discuss why a large set of financial entities needs to be considered when reflecting on ethical issues in accounting and finance.

  • Determine what some of the critical ethical concerns are in the banking sector.

  • Identify ethical issues relevant to stockbrokers and traders.

  • Describe the ethical issues of private equity firms and hedge funds.

  • Express what the potential ethical pitfalls are for auditing and consulting firms.

  • Provide examples of professional bodies and government entities that provide ethical oversight in the financial sector.

    • Introduction

    It is ironic that in 1999, in the introduction of a CD Rom on ethical practice circulated to all employees of Arthur Andersen, the international consulting and auditing firm, the managing partner noted that, ‘the day we lose the public trust is the day we go out of business’. In 2002, with 85000 employees worldwide, Arthur Andersen, one of the leading accounting firms of the times went out of business for just that; losing the trust of their customers and key stakeholders (Cooper 2013).

    Accounting and finance does not operate in a vacuum and many other organisations frame the context in which accounting and finance ethical abuses occur. As a consequence, it has been recognised that rather than just looking at accountants, we ought to be investigating the practices of other relevant actors (for example, auditors, bankers and regulators) who are also on the same stage and participating in the play (Ketz 2006). Having looked at unethical practices in accounting and finance, it is now appropriate to turn to specific key financial entities.

  • 2 - Ethical terminology

  • from Part 1 - Business Ethics Overview
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 34-66

  • Summary

    ‘A business that makes nothing but money is a poor kind of business.’

    Henry Ford, 1863–1947, American industrialist

    Chapter aim

    To clarify terminology related to business ethics.

    Chapter objectives

  • Explain what the theoretical foundations of corporate responsibility are in relation to agency, social contracts and integrated social contracts theory.

  • Outline the essential tenets of stakeholder management.

  • Delineate the four levels of social responsibility.

  • Critique the relationship and activities that differentiate environmentalism from sustainability.

  • Describe the key dimensions of corporate governance.

  • Identify the reporting expectations in relation to the triple bottom line.

    • Introduction

    A decade ago, Coca-Cola were banned from soft-drink production in South India after the government and several non-government organisations (NGOs) objected strongly to their water consumption (the company uses water not just in the drink itself but also in the manufacturing process, and making 1 litre of Coke consumes more than 3 litres of water). In response, Coca-Cola developed a strategy for sustainable water stewardship and established joint projects with USAID and relationships with previously adversarial non-profits, such as Greenpeace and the World Wildlife Fund for Nature (WWF), resulting in the company now using only 2 litres of water to produce 1 litre of Coke, and being 52% of the way to meeting their 2020 target for water neutrality (Lovegrove & Thomas 2013). Coca-Cola is not the only beverage company pursuing a more sustainable approach. The Florida Ice and Farm, a beverage bottler based in San José, Costa Rica, with revenue in excess of $500 million and a compound annual growth of 25%, met their goal of becoming water neutral in only four years (Haanaes et al. 2013).

  • 3 - Ethics in information technology

  • from Part 2 - Business Ethical Issues
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 69-106

  • Summary

    ‘You have zero privacy (on the internet) anyway. Get over it.’

    Scott McNealy, 1954–, former CEO of Sun Microsystems, 2009

    Chapter aim

    To identify current ethical issues, predominantly within the information technology (IT) and information systems (IS) domains.

    Chapter objectives

  • Recognise current and emerging ethical issues in IT.

  • Understand the ethical principles most relevant to IT.

  • Describe organisational, personal and societal ethical issues in IT.

  • Conduct further exploration into key issues of interest.

  • Analyse contrasting positions that underpin ethical issues in, for example, the freedom of information.

  • Formulate views in relation to current ethical issues that may affect you personally.

  • Review the common content of current Codes of Conduct for IT professionals.

    • Introduction

    Our interactions with technology are contradictory. We are often excited about new technologies and what they can do for us. Having a phone with the ability to communicate, photograph, store data and search the web is liberating but often, once new technologies have been developed and adopted, ethical issues in regard to their use are raised and need to be deliberated. Once an ethical issue in relation to IT has been raised and starts to firm up, legislation may begin to wrap itself around the issue and parameters for control or protection are introduced. However, given the speed at which technology is developed, the extent of the consideration needed to be given to these issues and the slowness with which legislation is introduced, unresolved ethical issues abound.

  • 8 - Ethical issues in entrepreneurship and small business

  • from Part 2 - Business Ethical Issues
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 229-266

  • Summary

    ‘When someone comes in with an idea that has never been tried, the only way you can judge is by the kind of man you are dealing with.’

    Georges Doriot, 1899–1987, father of venture capitalism

    Chapter aim

    To examine the ethical issues faced by entrepreneurs and small business owners.

    Chapter objectives

  • To be cognisant of the environment within which entrepreneurs operate that may lend itself to unethical practices.

  • Review research findings in relation to the ethical characteristics of entrepreneurs.

  • Discuss the role of the entrepreneur in building an ethical culture.

  • Identify the ethical principles that more directly relate to entrepreneurs and small business owners.

  • Explore the ethical dilemmas which may confront entrepreneurs and small business owners.

  • Differentiate between sustainability, entrepreneurship and environmental entrepreneurship.

  • Explain the potential impact from social entrepreneurship.

    • Introduction

    The US Global Entrepreneurship Monitor (GEM) indicated that 29 million US adults were starting or running new businesses in 2011, and nearly 40% expected to create more than five new jobs in the next five years. The report indicated that the US experienced a more than 60% increase in entrepreneurial activity between 2010 and 2011 (Xavier et al. 2012). In the Southern Hemisphere, Australian start-ups compare well with their American counterparts. The Australian version of the GEM study indicates that Australia has high rates of entrepreneurship, second only to the US among innovation-driven economies (M Clark et al. 2013).

    Entrepreneurship is highly regarded for its ability to generate individual income, produce value creation, and to enhance economic development. Companies such as Apple, Berkshire Hathaway, Google, Oracle and Starbucks, are powerful examples of founder-led companies that originated from humble beginnings to become multi-billion dollar empires. Most businesses, however, do not reach this size, and entrepreneurs settle into small to medium-sized businesses (Kopp 2013).

  • 5 - Ethical issues in marketing

  • from Part 2 - Business Ethical Issues
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 146-177

  • Summary

    ‘Price is what you pay. Value is what you get.’

    Warren Buffett, 1930–, American investment entrepreneur

    Chapter aim

    To identify current ethical issues in marketing.

    Chapter objectives

  • Identify the dominant ethical principles that apply to ethical decision-making in relation to marketing practices.

  • Recognise some of the key ethical concerns that apply to the product mix.

  • Describe within the pricing mix which ethical practices are at play.

  • Relate the main ethical criticisms of promotion using the five components of promotion.

  • Illustrate ethical issues that can arise in the course of distributing products or services.

  • Discuss ethical issues in relation to the people dimension of marketing.

  • Distinguish between cause-related marketing and social marketing.

    • Introduction

    Marketing is an activity and processes that create, deliver, exchange and communicate value offerings for customers, clients and society (American Marketing Association 2013a). Marketing is considered a critical function of business but it is not without criticism. The more vehement critics have blamed marketing for all the ills of contemporary capitalism through its use of what they see as ruthless targeting of neurological pathways and the assumption that we, as consumers, are being manipulated and exploited. Whether it is cupcakes or Angry Birds we are apparently unaware that we are stumbling into a state of dependent consumerism (Thompson 2012).

  • 11 - Ethical decision-making

  • from Part 3 - Business Ethical Theory and Analysis
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 341-374

  • Summary

    ‘Real integrity is doing the right thing, knowing that nobody is going to know whether you did it or not.’

    Oprah Winfrey, 1954–, American talk-show host and philanthropist

    Chapter aim

    To investigate the ‘black box’ of the ethical decision-making process and to develop a set of guidelines for effective personal ethical decision-making.

    Chapter objectives

  • Contrast two perspectives on ethical decision-making.

  • Describe the features of an interactionist model of ethical decision-making.

  • Present a six-stage model of ethical decision-making.

  • Critique the personal ramifications of whistleblowing.

  • Become familiar with a set of ethical decision-making guidelines that can be used to evaluate ethical dilemmas.

    • Introduction

    Sir Adrian Cadbury, a prominent figure in the UK and a proponent of corporate governance, tells the story that, in 1900, Queen Victoria sent a decorative tin with a bar of chocolate inside to all of her soldiers who were serving in South Africa. At the time, the order presented an ethical dilemma to Sir Adrian’s grandfather, who owned and ran the second largest chocolate company in Britain. While he was anxious for the work, he was deeply and publicly opposed to the Anglo–Boer war in South Africa. How did he resolve the dilemma? He accepted the order but carried it out at cost and made no profit from what he saw as an unjust war. In doing so, his employees benefited from the additional work, the soldiers received their royal present, and Sir Adrian continues to receive the tins to this day. Interestingly, so opposed was Sir Adrian’s grandfather to the South African war that he acquired, and financed, the only British newspaper that opposed it (Cadbury 1987).

  • 12 - Ethics in organisations

  • from Part 4 - Personal Ethical Decision-Making
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 377-408

  • Summary

    ‘We judge companies and managers by their actions, not their pious statements of intent.’

    Sir Adrian Cadbury, 1929–, author of the Cadbury Report (1992)

    Chapter aim

    To investigate organisational strategies that can be used to enhance an ethical culture.

    Chapter objectives

  • Contrast the differing perspectives of ‘bad apples’ versus ‘bad barrels’ that result in unethical behaviour.

  • Identify the features of an ethical organisational culture.

  • Determine the motivations and benefits for developing an ethical climate.

  • Prioritise the four tiers for developing a strong ethical culture.

  • Formulate the common elements of an integrated ethics program.

  • Critique the common problems as well as the characteristics of a good code of ethics.

  • Generate a profile of the different types of ethical climates which could exist in an organisation.

    • Introduction

    A popular current saying in business circles is that ‘culture eats strategy for breakfast’. Given the vast amount of attention that has been given to the importance of strategy and strategic planning, rather than culture, this quip attempts to redress the imbalance between strategy and culture. What is being presented is that, unless an organisation’s culture is appropriately aligned, it will ultimately frustrate strategic initiatives. For example, an organisation may have an innovative strategy, but unless it has a culture that promotes creativity and risk-taking, the culture is not aligned to the strategy – the culture could eat the strategy. Similarly, an organisation may have a number of strategic initiatives to promote a moral climate in the organisation, but, if the ethical culture is one of bending the rules, and tolerance for wrongdoing, then the strategies will be useless. It is interesting to think that the basic philosophy, spirit and drive of an organisation may have far more to do with its relative achievements than its technological or economic resources, organisational structure, innovation and timing.

  • Preface

  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp xi-xiv

  • Summary

    After the popularity of the movie The Bucket List, starring Jack Nicholson and Morgan Freeman, a lot of people, shall we say in the ‘older age bracket’, started making up bucket lists. Activities, usually involving travel to exotic locations, featured prominently on these lists. I also made up a bucket list but, intriguingly, on mine was that I’d always wanted to write a textbook on business ethics, which has been my preferred research area for more than 25 years. So, when Cambridge University Press approached me, I was rather reluctant to turn the task down as I knew that if I didn’t do it then it would probably haunt me in the future.

    When initially conceptualising the project, I was cognisant of and guided by various models of moral behaviour, with the intention of delivering on four key dimensions that I wanted the text to develop:

  • Moral sensitivity – the ability to recognise that a moral dilemma exists, to interpret the circumstance and assign recognition of what ethical issues are contained in the situation.

  • Moral motivation – the ability to prioritise moral values in relation to other personal values.

  • Moral judgement – the ability to make a morally justifiable decision and judge whether an action is morally right or wrong.

  • Moral action – the ability to provide, in the face of situational pressure, an ethical outcome.

    • More specifically, I wanted to:

  • examine the current factors which are driving an increased awareness of business ethics in today’s business environment

  • provide some clarity to the lexicon of business ethics and related terminology

  • engage with current issues in the business environment and society at large, as presented in the media

  • investigate ethics in a variety of functional areas of business including information technology, human resource management, marketing, accounting, entrepreneurship and international business

  • present ethical principles which are of relevance in these key functional areas

  • review the theoretical foundations of ethics

  • provide guidelines to assist with ethical decision-making

  • discuss the strategies that can be used to strengthen the ethical climates of organisations.

  • 6 - Ethical issues in accounting and finance

  • from Part 2 - Business Ethical Issues
  • Gael McDonald
  • Book:
    Business Ethics
    Published online:
    06 August 2018
    Print publication:
    29 October 2014, pp 178-205

  • Summary

    ‘Earnings can be pliable as putty when a charlatan heads the company reporting them.’

    Warren Buffett, 1930–, American investment entrepreneur

    Chapter aim

    To identify current ethical issues in accounting and finance.

    Chapter objectives

  • Recognise the dominant ethical principles that relate to accounting and finance.

  • Describe some of best known recent corporate collapses and evaluate them from the perspective of ethical mismanagement.

  • Identify the primary areas where misrepresentation and inaccurate reporting often occur.

  • Compare the various forms that fraud can take.

  • Discuss insider trading from the perspective of fairness.

  • Understand how conflict of interest and objectivity relate to each other.

  • Clarify the distinction between tax minimisation, tax avoidance and tax evasion.

  • Describe the key features of a Ponzi scheme.

  • Identify what investments are commonly avoided in socially responsible investments.

    • Introduction

    The information accountants provide is vital to aiding managers, investors and others in making rational economic decisions. As such, ethical improprieties by accountants can be detrimental to society, resulting in distrust by the public and, on a broader scale, disruption of efficient capital markets (Williams & Elson 2010). When reporting financial data, accountants act as intermediaries in the capital markets and are expected to exercise their primary obligation to the public interest. But on occasions it is not public interest, but self-interest that prevails.

    When we think of accountants we think of those belonging to professional associations and bound by professional standards and codes of ethics. However, if we were to take a broader view, ethics in accounting and finance also relates to those who do not belong to the accountancy profession but are individual managers and employees both directly, and indirectly, involved in this functional area, as well as, individuals that are in associated regulatory or stakeholder organisations such as: banks, auditors, lending agencies or trading houses.

Page 1478 of 1880