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Contents 1

1. The nature and purpose of ethical reflection 1

1.1 Introduction 1

1.2 Autumn 1990: immoral supplies to Iraq? 1

1.3 A definition of ethics 8

1.4 The subject-matter of ethics-moral behaviour 10

1.5 One major ethical issue-relativism 10

1.6 The difference in methods with moral theology 13

1.7 Moral judgements are normative judgements 14

1.8 Characteristics of moral standards 20

1.9 Synopsis 22

1.10 References 24

2. Business ethics:mediating between moral demands and interest 25

2.1 Business ethics is normative 25

2.2 The relative autonomy of business morality 26

2.3 The limited scope of normative business ethics in this text 38

2.4 Special studies in business ethics 41

2.5 Evidence from surveys on the role of ethics in business 46

2.6 A theory on voluntary mediation: participatory ethics 49

2.7 Two examples illustrating the predominant role of interests 51

2.8 Synopsis 60

2.9 References 61

3. Moral responsibility in general 62

3.1 Introduction 62

3.2 The idea of man behind free and conscious behaviour 62

3.3 Towards a balanced concept of freedom 67

3.4 Further remarks on the given circumstances: life areas 72

3.5 A partial definition of individual responsibility 74

3.6 A second and more complete definition of responsibility 74

3.7 Direct implications relevant to modern issues 75

3.8 Synopsis 78

3.9 References 78

4. Moral responsibility in the business sphere 79

4.1 The gist: public accountability and entrepreneurial responsibility 79

4.2 Can a company be held responsible? 80

4.3 Moral corporate excellence 82

4.4 Inference 1: attribution theory on managerial mistakes 85

4.5 Inference 2. entrepreneurial performance and publicaccountability 86

4.6 Inference 3: groupthink in coping with technological innovation 97

4.7 Three classical theories of Product responsibility 99

4.8 Examples of liability issues 108

4.9 Corporate responsibility 117

4.10 Synopsis 120

4.11 References 120

5. What is in it for all parties concerned? 122

5.1 An outlook based on interests 122

5.2 Interests combine moral goals and moral principles 123

5.3 A practical business philosophy based on interest 125

5.4 Distinguish interests from egocentric materialism 126

5.5 Unethical attitudes on moral issues 129

5.6 The overdone business ethics required by utilitarianism 135

5.7 A view fit for moral commerce:enlightened egoism 145

5 8 Synopsis 151

5.9 Examples and questions 152

5.10 References 160

6. Is this policy decent, right and just? 161

6.1 Introduction 161

6.2 Manipulative and non-manipulative relations 161

6.3 The need for duty ethics in modern societies 163

6.4 The pluralistic duty-based view of human rights 165

6.5 The deontological supernorm of Kant 167

6.6 Standards of justice 171

6.7 Deontological codes for inner constituents in business 173

6.8 NORM by Ron Green 175

6.9 Incorporating NORM-based rules in enlightened egoism 184

6.10 References 186

7. Does this policy foster desirable skills? 187

7.1 Introduction 187

7.2 A first idea of dassical virtue 188

7.3 A modern interpretation of Aristotelian moral philosophy 189

7.4 Keystones of virtue ethics 199

7.5 A psychological structure geared towards human excellence 202

7.6 Revised accounts of virtue of little use for business ethics 208

7.7 Comparing virtues of character and excellence in crafts 211

7.8 Virtue theory is back in town 216

7.9 Productive practices and team motivation 217

7.10 Some prospects for virtue in business ethics and management theory 220

7.11 References 226

Index 229