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Philosophy 2074F/G
Dean Proessel

josephheath Disagreewith stakeholder paradiam: Firmshasimportant social responsibilities Thereasonwe haveto haveabusinessethics, thesocial ethicsis too broader for business Theprefessional role of manager -already implicit -helpsallay thesuspicion that businessethicsis somealiencode, which ethicistsseekto imposeu poncorporationsfrom theoutside Hedoesnot think put you ontheposition of amanager makesyou conflict with morality. Moral practice: what hewantsthemanager to do, market failuremodel (on theendof thisessay) Onpage112: Hedistinguishesapersonwork with job, from work with aprofession. Whenyou work with job, you havetheobligation to work onyour shift, beat thepostiion in time. So, theobligationsarespecificiedin acontract, in termsof employment. Whenyou work with aprofession, certain degreeof trust is implict, becausetheresponsibilities maycannot becompletely statedout in thecontract. That, thecompany must trust this profession al people.That distinguishiesapersonwith ajob from apersonwith aprofession. Example: car mechanic, thepersonrunshisown small shop.What putsthemin responsible? Wordsof mouth makesthemtakecertain responsibility (thereputation). Example: alawer/engineer, certain associations/codeof ehicsmakesurethereis prevent irrespons ible actions, thereforeholdsthemaccountable. **Certification system A manager,what holdsthemaccountable? -Reputation -what contract areyou having? -how dowe articulatethat theresponsibility .... **page113highlightedparts Shareholder Model Owners: profit--moral hazard Manager: duty of careandduty of loyalty towaradsshareholder They haveto trust managers, becausemanagersaremoral (page115) owners-profit + manager ==>moral obligaton Owner ownsprofit, managershaveobligation to giveownerswhat they want. Managersact like s ocial end. Who saysthat ownersareentitled to profit? Shareholders: justify theprofit page116and117 justification of profit managersgivewhat ownerswhat they want, nevertheless,what ownerswantedneedto bejustifie dwith 1)property rights, 2) paratocriteria. Just fication of profit 1) profit rights: Locke: legal righs/morality (page116) -our legal rightsdoesnot exosit our morality 2) Paretocriterion: social --morality (it benefitseveryonein themarket) -Pareto-optimal (it will beimpossibleto improveanyone'sconditionswithout worsening someoneelse's.--it is not what pareto-optimal saying) -best expressedin theinvisible handtheoremof welfareeconomics BalancingAct: to introduceamulti-fiduciarary act, it is not possible, not imposedby thelaw. Narrow VS Wide: -Thenarrow conception linesalot of problem, it is arbitrary -Thewideceonception, thesocalled professional ethics, clapsinto thegeneral ethic, which hesu ggestedis not appliedin businessworl
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