MGSC14H3 Chapter Notes - Chapter 1: John Stuart Mill, Immanuel Kant, Virtue Ethics
Document Summary
Increased accountability & transparency desired: due to realization of unbridled greed of executives: result, reactive legislations. Sentencing guidelines of 1991 (executives personally accountable for not providing ethical guidance) Anti-bribery regime of oecd (extraterritorial legal actions on bribery) Sox of 2002 (corporate accounting and governance rules: global standards. Integrity, honor, loyalty, courage, forthright: immanuel kant: ppl are ethical when they do not use others opportunistically and being hypercritical. Deontology: ethical acts depends on the duty, rights and justice involved. Virtue ethics: ethical acts demonstrate the virtues expected by stakeholders: practical techniques: Co(cid:374)siste(cid:374)(cid:272)y (cid:449)/ (cid:272)o. "s g(cid:396)ou(cid:374)d (cid:396)ules (cid:894)g(cid:396)ou(cid:374)d rule ethi(cid:272)s(cid:895); Request for rules to solve any impingements on stakeholder rights? (rule ethics); Demonstration of expected virtues? (virtues demonstrated question: models, new governance & stakeholder accountability framework. Reputations of a co. depends on its understanding of stakeholder interests, the underlying values and its ability to manage ethics risks: basic values underlying stakeholder interests: 6 hypernorms (values respected by most groups/cultures)
