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| Value is that which one acts to gain and/or keep (Actions speak louder than words) |
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"The act by which one gains and/or keeps [values]"
(Stuff that you do, behavior, virtues to help achieve values) |
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| "A right is a moral principal defining and sanctioning a man's freedom of action in a social context..." |
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| Price Gouging (Zwolinski) |
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| A practice in which prices on certain kinds of necessary items are raised in the wake of an emergency to what appear to be unfair or exploitatively high levels. |
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| Hypernorms (Donaldson and Dunfee) |
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" Moral precepts fundamental to human beings"
Covers all humans
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| Decides whats moral based on whats good for me in the short run, humans are fundamentally different, therefore you can't judge each other. |
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| Decides whats moral based on whats good for me in the Long run, humans are fundamentally the same, therefore you can judge each other. |
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| Some moral rules stay the same through time and space |
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| Morality itself changes through time and space |
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Authentic Norms (3 Conditions)
(Use micro social contract theory to find) |
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Compliance is approved
Deviance is disapproved
Almost everybody does it |
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| Rationality and Man Qua Man |
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Reason
Purpose
Self esteem |
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| Three cardinal virtues (Need virtues to achieve values) |
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Rationality
Productiveness
Pride |
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| Global business norms that cover everyone globally |
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| In order to have macro social contract you must have... |
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Moral Free Space- "the freedom represented by the ability to endorse micro social contracts" (Individuals put conditions on a group)
Consent and Exit-Informed consent and the right to exit the community.
Hyper-norms-"Moral Percepts fundamental to all human beings"
Priority Rules-A way to fix 1, 2, 3 |
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Core Human Rights-personal freedom, security, etc.
The obligation to respect the dignity of each human person |
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| Decision making process for ISCT |
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Does it violate a hyper norm, if so stop!
Does it violate an authentic norm, if so stop |
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| Masculine vs. Feminine Ethics |
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Definition
Grounded in Justice vs. Grounded in Care Autonomy(alone) vs. Connection (people)
Individualist (join) vs. Collectivistic (belong to groups) Rights based vs. Responsibility based
Rules vs. Relationship
Rational vs. Emotional
Competition (me vs. you) vs. Cooperation (team)
Abstract (should behave) vs. Concrete/particular (Focused) |
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| Two areas where Gilligans theories are being applied: |
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Definition
The Feminine Firm Stream- Generally used in setting up a new firm Trust and cooperation Redifine success, aim at communal objects
Collaborative, dialogue based environment
Highly decentralized, focus on relationships
The stakeholder stream
Creating value for specific persons, advancing personal projects, nurturing relationships, cooperation, feminism, emotion and reason. |
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| The study of existence, of man, and of man’s relationship to existence. |
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A characteristic set of principles for assigning basic rights and duties and for determining what they take to be the proper distribution of the benefits and burdens of social cooperation.
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| Stakeholder (Donaldson & Preston) |
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| Persons or groups with legitimate interest in procedural and/or substantive aspects of corporate activity. |
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How people should behave in moral situations
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| How people behave in moral situations? |
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| Right to pursue something, Nozick believes in. Right to purse a job. |
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| Nozick believes positive rights are immoral, unethical; have to violate negative rights to have positive rights. (Example needed) Right to a job |
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| Capitalism is the economic system that best maximizes common good compared to others. |
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| Rights justifications of capitalism |
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| Capitalism is the only system that respects fundamental human rights. |
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| Utilitarian Decision Making Process |
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2 alternatives, weight them against each other; go w/highest number
Hedonic calculator-Intensity (of pleasure or pain), Certainty/Uncertainty (probability), Propinquity/Remoteness (distance to you), Fecundity (pleasure or pain, how long it goes on), Purity (of pleasure or pain), Extent (number being affected).
Act: One measures the consequences of each individual action according to whether it maximized good.
Rule: One should act according to a general rule, which if adopted, would maximize good. (Alternative to hedonic calculator, sit down and decide which rules you will live by to maximize the common good, everyone in the world would have to abide by that rule) |
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Each person is to have an equal right to the most extensive basic liberties compatible with a similar liberty for others.
Social and economic inequalities are to be arranged so that they are both:
a) to the greatest benefit of the least advantaged and
b) attached to offices and positions open to all under conditions of fair equality of opportunity. Rawls doesn’t want everyone to be equal but he wants the bottom people to have the ability to be brought up, everyone should have a shot.
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| Nozick-Decision Principle |
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Freedom from force and fraud.
Force-The threat of physical force or physical force
Fraud-Getting someone to do what they otherwise wouldn’t do through miss information or withholding information. |
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Definition
Outside Circle-Descriptive-How managers treat their stakeholders?
Middle Circle-Instrumental-How managers should treat their stakeholders, if they want to achieve a certain goal.
Inner Circle-Normative-How managers should treat their stakeholders because it is the right or moral thing to do. |
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| Seven types of stakeholders |
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Definition
Dormant Stakeholder-Power Only-Little to no connection to the firm, no urgency or legitimacy, such as a former employee.
Discretionary Stakeholder-Legitimacy Only-No pressure or urgency on the firm, just out there, no power over the firm such as schools or the community.
Demanding Stakeholder-Latent Only-Urgency but no power or legitimacy, annoying stakeholders such as picketers.
Dominant Stakeholder-Power and Latent-Everyone's happy, Owners, creditors, employees.
Dangerous Stakeholder-Power and Urgency-Coercive and may be violent-Terrorist
Dependent Stakeholder-Legitimacy and Urgency-Depend on a 3rd party to represent them.
Definitive Stakeholder-All 3-#1 group to give attention to, time pressure added, Mad Shareholder or creditor
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Definition
Balance all groups at the same time instead of traditional business
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| Original Definition of Stakeholder |
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| Anyone who can affect or be affected by the firm |
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| 2 assumptions that must be accepted for the theory to work |
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Stakeholders are identified by their interest in the corporation, whether or not the corporation has any corresponding functional interest in them.
The interest of all stakeholders is of intrinsic value.
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| Three normative justifications used to support stakeholder theory |
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1. Kantian justification-Use others not merely as a means. (Not use another human being to get to the end, instrumental.)
2. The feminist ethic of care justification (pull some stuff off the handout)
3. The pluralist property rights justification. Look at all the theories and they could own the firm. Each stakeholder is an owner, everyone owns the firms but you can’t because they are contradictory. |
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| Problems with Stakeholder Theory |
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Stakeholder definition problem-No concrete definition of who the stakeholder is.
Intrinsic values problem-If you don’t believe in intrinsic value then you throw out the theory.
Priority/Balancing Problem-How do you balance every stakeholder? Keep everyone happy?
Normative justification argument-no strong enough argument to throw out stakeholders.
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| 3 dimension the Venn diagram uses to determine stakeholder importance |
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Power-The extent to which stakeholder has the means to impose its will on the company.
Legitimacy-Socially accepted structures or behaviors.
Urgency-1. Desire is time sensitive. 2. Critical to the stakeholder.
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| 3 elements that lend whistle blowing special urgency and imposed requirements |
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1. Dissent/Accuracy and judgement-going against the flow of where the firms wants you to go. If you are going to blow the whistle, gather data accurately, analyze and use good judgement to proceed.
2. Breach of loyalty/Exploring alternatives-breaking loyalty you owe your employer therefore you should do everything you can within your firm before going public.
3. Accusation/fairness-pointing the finger to a human being. Must show fairness, restrict the scope to the person you know did it!
If you have done all these things within the firm then it is morally OK to go outside the firm, its good to blow the whistle but must take seriously. |
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