business ethics

What is Corporate Social Responsibility (CSR)?

CSR is the ethical obligation of businesses to consider their impacts on stakeholders and the environment beyond profit motives

What is whistle-blowing?

Whistle-blowing is when an employee exposes unethical or illegal practices within their organisation

What is globalisation?

Globalisation is the interconnectedness of economies, cultures, and policies across the globe

Which key scholars are relevant to this topic?

Milton Friedman, Immanuel Kant, Jeremy Bentham, and John Stuart Mill

What is the main argument for CSR?

Businesses have ethical duties to stakeholders beyond shareholders

What does Milton Friedman say about CSR?

Friedman argues businesses should focus solely on maximising shareholder profits within legal boundaries, not on CSR

What’s a key critique of Friedman’s view?

It ignores long-term benefits of CSR, such as building consumer trust and loyalty (e.g., Warren Buffett’s statement on reputation)

What is Dame Anita Roddick’s stance on CSR?

Businesses should prioritise public good over profit, integrating responsibility into their operations

How is Roddick’s stance evaluated?

It emphasises ethical practices but may conflict with shareholder profit motives, especially in competitive industries

How does Kant view whistle-blowing?

Kant supports whistle-blowing as a moral duty, emphasising honesty as a universal principle (1st maxim of the categorical imperative)

What is a key critique of Kant’s view on whistle-blowing?

It upholds integrity but may overlook practical concerns, like retaliation or confidentiality breaches

How does utilitarianism evaluate whistle-blowing?

It focuses on the outcomes, balancing the benefits (e.g., public safety) against the harms (e.g., organisational damage)

What is an example of whistle-blowing in action?

The NHS scandal, where concerns about surgical practices saved lives but caused workplace strain

What is the evaluation of utilitarianism in whistle-blowing?

It offers flexibility but may justify inaction if the perceived harms outweigh the benefits

What does Johan Norberg argue about globalisation?

Globalisation improves local economies by offering higher wages in developing countries (“free choice” defense)

What is a critique of Norberg’s view?

It risks normalising exploitation through inadequate labour protections and sweatshops

How does Kant evaluate globalisation?

Kant’s categorical imperative rejects exploitation, requiring all stakeholders to be treated as ends, not means (2nd maxim)

What is a critique of Kant’s approach to globalisation?

It ensures fairness but may be impractical in competitive global markets where cost reduction is key

How can businesses align ethics with profit?

By integrating ethics into long-term strategies, leveraging reputation and consumer trust as key assets