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Individual Factors: Moral Philosophies and Values

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Title: Individual Factors: Moral Philosophies and Values


1
Ethical Decision Making for Business 8e
Fraedrich/Ferrell/Ferrell
CHAPTER 6
  • Individual Factors Moral Philosophies and Values

2
Chapter Objectives
  • To understand how moral philosophies and values
    influence individual and group ethical decision
    making in business
  • To compare and contrast the teleological,
    deontological, virtue, and justice perspectives
    of moral philosophy
  • To discuss the impact of philosophies on business
    ethics

3
Chapter Objectives (cont.)
  • To recognize the stages of cognitive moral
    development and its shortcomings
  • To introduce white-collar crime as it relates to
    moral philosophies, values, and corporate culture

4
Chapter Outline
  • Moral Philosophy Defined
  • Moral Philosophies
  • Applying Moral Philosophy to Ethical Decision
    Making
  • Cognitive Moral Development
  • White-Collar Crime
  • The Role of Individual Factors in Business Ethics

5
Moral Philosophy
  • Principles or rules that people use to decide
    what is right or wrong
  • No single moral philosophy is accepted by
    everyone
  • Moral Philosophy Defined
  • Economic value orientation
  • Idealism
  • Realism

6
Moral Philosophy Perspectives
  • Teleology
  • Deontology
  • The Relativist Perspective
  • Virtue Ethics
  • Justice Perspectives

7
Goodness Theories
  • Basic concepts
  • Monists
  • Pluralists
  • Instrumentalists

8
Moral Philosophy and Ethical Decision Making
  • Individuals use different moral philosophies
    depending on whether they are making a personal
    or making a work-related decision

9
Kohlbergs Model of Cognitive Moral Development
  • Consists of six stages
  • Punishment and obedience
  • Individual instrumental purpose and exchange
  • Mutual interpersonal expectations, relationships,
    and conformity
  • Social system and conscience maintenance
  • Prior rights, social contract or utility
  • Universal ethical principles

10
White Collar Crime
  • Crimes of the suite do more damage in monetary
    and emotional loss in one year than the crimes
    of the street over several years combined
  • The presence of technology has aided WCC

11
Individual Factors
  • Most business managers do not embrace extreme
    philosophies
  • A personal moral compass is not sufficient to
    prevent ethical misconduct in an organizational
    context
  • The corporate culture and the rewards for meeting
    performance goals are the most important drivers
    of ethical decision making
  • Equipping employees with skills that allow them
    to understand/resolve ethical dilemmas will help
    them make the right decisions
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