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Business Ethics

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Section 1: Introducing business ethics.
Key idea: Globalization, defined as deterritorialization of economic activities, can be seen as a key context for business ethics. The effect of this is that the more business become global, the more it has to cope with regions and countries where ethical values are vastly different, p. 17, 19, 24, learning outcome 1, 2.
Question 1: In which of the following areas is it not evident that deterritorialization is particularly relevant to business ethics? 1. Legal issues 2. Cultural issues 3. Personal issues 4. Accountability issues
Question 2: Globalization can be seen to affect all stakeholders of the corporation. Mention four of these, explain how they are affected and provide an example. * Shareholders: globalization provides potential for both profitability and greater risks. * Consumers: global products provide social benefits to consumers, but could also meet protests. * Government and regulation: globalization weakens governments and increase corporate responsibility. * Employees: globalization provides job through outsourcing of the production, but can also raise potential for exploitation of employees through bad working conditions. * Civil society: global business activity brings the company in direct interaction with local communities, thereby raising the possibility for erosion of traditional community life. * Suppliers and competitors: Suppliers in developing countries face regulation from MNCs through supply chain management, and other small-scale indigenous competitors are exposed to the powerful global players.

The participant should show understanding by: * Listing four alternatives * Provide a brief explanation for how they are affected by globalization.

Section 2: Framing business ethics
Key idea: Although, the corporate social responsibility (CSR)

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