For courses in Business Ethics. Build business ethics expertise through application. Business Ethics as Rational Choice focuses on building decision-making skills so that readers can arrive at, and defend, personal or company decisions in an objective, and convincing, manner.

This book analyses obligations that arise in our membership of social groups. It considers how to deal with the complex responsibilities we have in our relationships to family, friends and workmates, and how far ethics may ground our commitments to organisations, corporations and countries.

The study of decision making has multiple implications for business ethics. This paper outlines some commonly used frameworks for understanding choice in business. It characterises the dominant model for business decision making as rational choice theory (RCT) and contrasts this with a more recent, naturalistic theory of decision-making, image theory. The implications of using RCT and image theory to model decision making are discussed with reference to three ethical systems. RCT is shown to be consistent with Utilitarian ethics, but not with Kantian or Virtue-based ethics. Image theory is shown to be consistent with each. The paper identifies a number of implications following from this analysis.

This book develops and defends a version of utilitarianism, including expected-utility theory, as a normative model of decision making. The defense, based on the idea of utility as achievement of goals, considers the endorsement of a norm as a decision and asks what reasons we have to endorse norms for decision making. The reasons derive from our pre-existing goals, so any norm we endorse must not fly in the face of these goals, although it must not be selfishly biased, either. This approach is further clarified by drawing distinctions between decisions for the self, for a single other person, for several others, and for the self and others. The book discusses the implications of this argument for the psychological study of decision making, the act--omission distinction, moral education, decision analysis, risk analysis, and other questions of public policy. The final chapter sketches a prescriptive approach to group decision making.

This book develops an intellectual framework for analyzing ethical dilemmas that is both grounded in theory and versatile enough to deal rigorously with real-world issues. It sees ethics as a necessary foundation for the social infrastructure that makes modern life possible, much as engineering is a foundation for physical infrastructure. It is not wedded to any particular ethical philosophy but draws from several traditions to construct a unified and principled approach to ethical reasoning. Rather than follow the common academic practice of seeking a reflective equilibrium of moral intuitions and principles, it builds on a few bedrock principles of rational thought that serve as criteria for valid argumentation. It develops the ideas from the ground up, without presupposing any background in ethics or philosophy. Epistemologically, the book views ethics as parallel to mathematics, in that it relies on generally accepted proof techniques to establish results. Whereas mathematics rests on such proof paradigms as mathematical induction and proof by contradiction, ethics can be seen as relying on proof by applying consistency tests, such as generalizability and respect for autonomy. Utilitarianism also plays a key role, but it is reconceived as a deontological criterion. This approach obviously requires that these criteria be formulated more rigorously than is normally the case. To accomplish this, the book begins with the classical idea that an action is distinguishable from mere behavior by virtue of its having a coherent rationale, where coherence requires passing certain consistency tests such as generalizability. An action is therefore inseparable from its rationale, and generalizability is defined in terms of consistency with the rationale. A utilitarian criterion receives a similar treatment with respect to a means-end rationale. Respect for autonomy is grounded in a carefully developed action theory that takes into account such concepts as joint autonomy, implied consent, and the permissibility of interference with unethical behavior. It provides an account of responsibility that is both practical and theoretically satisfying, and it yields a novel solution of the much-discussed trolley car dilemmas. The book is written for a general audience and strives to be as readable and engaging as possible, while maintaining rigor. It begins by dispelling a raft of misconceptions that trivialize ethics and block its development as an essential tool of modern life, such as the notion that ethics is just a matter of opinion without rational foundation. After presenting the ethical principles just described, along with many examples, it provides several chapters that analyze real-life dilemmas, many obtained from the author’s students and professional workshop participants. One cannot understand physics or chemistry without seeing how their principles are applied to real problems, and the same is true of ethics. These chapters demonstrate that a unified normative theory can deal with a wide range of real cases while achieving a reasonable level of objectivity and rigor.

The connection between economics and ethics is as old as economics itself, and central to both disciplines. The essays included in the present volume provide an analysis of the connections between ethics and economics as viewed from several different - oft

In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a "market failures" approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.

The book considers how to make the methodology of business ethics more scientific, especially its normative branch. Storchevoy explores the attempts of economic theory to contribute to the scientific normative analysis of economic behavior, particularly the welfare economics of 1910-1950 and methodological discussions of economics and ethics from 1980-2015. He then examines the development of the methodological structure of business ethics in general since the 1980s and the scientific validity of normative business ethics, including stakeholder theory, the separation thesis, integral social contract theory, corporate social responsibility, virtue ethics and other frameworks. He concludes by suggesting an additional step to make business ethics a more systematic discipline by developing a typology of moral issues and dilemmas. Business Ethics as a Science will be a thought-provoking resource for students and practitioners of business ethics and economists alike.

A growing body of academic and business specialists are paying attention to ethical issues in business and economics, drawing on a wide range of different disciplinary and theoretical perspectives. This volume presents important new insights from scholars in economics, philosophy, business ethics and management studies. In addition to providing specific perspectives on particular topics, it presents strategic perspectives on the development of the field. Readers can inform themselves on developments in particular areas, such as social accountability or stakeholder governance; they will also find substantial contributions related to the interfaces of ethics and economics, economics and philosophy, business ethics and political science, and business ethics and management. The collection is a thought-provoking contribution to the development of business and economic ethics as an increasingly important field of academic study.