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Ethics and The Future of Business (6314M0507Y) Complete Summary, grade (9.6/10)
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A complete summary of literature and lectures from Ethics and The Future of Business course general part (sessions 1-4)
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1Ethics and the Future of
Business
6314M0507Y
General Part Summary
2023
The summary contains:
Summary of the enDre literature and incorporated notes from lectures from the
general part (1-4)
, 2
Table of Contents
Session 1 ............................................................................................................................ 3
Crane (2019) Chapter 3 ...............................................................................................................3
Ethical leadership: Ethics vs. effec;veness (Ciulla 2020) ..............................................................9
Awad (2018): The Moral Machine experiment .......................................................................... 11
TedTalk: Why we shouldn’t trust markets with our civic life ...................................................... 12
Session 2 .......................................................................................................................... 12
Crane (2019) Chapter 4 ............................................................................................................. 13
TEDTalk: How whistle-blowers shape history ............................................................................ 19
Banaji (2003): How Unethical are you?...................................................................................... 21
Smith & Kouchaki (2021): Building an Ethical Company ............................................................. 23
Session 3: ......................................................................................................................... 24
Hoffman (2021): Your Role in Your Own Future ......................................................................... 24
Griskevicius (2012): The Evolu;onary Bases for Sustainable Behaviour: Implica;ons for
Marke;ng, Policy, and Social Entrepreneurship ......................................................................... 25
BSR (2019): Five-Step Approach to Stakeholder Engagement .................................................... 28
Rache (2023): Corporate Sustainability: What It Is and Why It Ma`ers ...................................... 34
Session 4: ......................................................................................................................... 38
Atasu (2021): The Circular Business Model (for manufacturers) ................................................. 38
Korula (2023): Chapter 7: Ecological Approaches to Corporate Sustainability ............................ 41
Joyce (2016): The triple layered business model: canvas: A tool to design more sustainable
business models ....................................................................................................................... 47
IPCC 2021 Climate Change: Synthesis Report ............................................................................. 51
, 3
Session 1
• Ethics: systema+c study of right and wrong
o Level: Individual
o FoundaDons: philosophy, psychology, behavioral economics, leadership
• Responsibility: integra+on of triple bo=om line into companies
o Level: organiza+on
o FoundaDon: management
• Sustainability: human welfare within ecological balance
o Level: society
o FoundaDons: sustainability, poli+cal science, complexity
Crane (2019) Chapter 3
• NormaDve ethical theories: theories that aim to prescribe the morally correct way of
ac+ng, how we ought to behave.
• DescripDve ethics: the morally correct way that is adopted by a par+cular group or a
society, how we actually behave.
, 4
• Ethical absoluDsm: according to this view, right and wrong are objec+ve quali+es
that can be ra+onally determined, irrespec+ve of the circumstances.
• Ethical relaDvism: claims that morality is context-dependent and subjec+ve.
Rela+vists believe that there are no universal rights and wrongs that can be ra+onally
determined. It can also depend on the tradi+ons, convic+ons, or prac+ces of those
making the decision.
• Ethical pluralism: differs from rela+vism and absolu+sm in that it neither puts all
ethical perspec+ves on an equal foo+ng nor favors one approach over others. -> this
is what we should do-> consider all theories and approaches, not just one, and try to
find the sweet spot
• Morality is humans’ ability to dis+nguish between right and wrong.
• Ethics is a systema+c study of morality.
• Ethical theories are principles and rules that determine right and wrong in different
situa+ons.
Most important theories and approaches:
1. Ethical egoism (ethics of self-interest):
• Key idea: An ac+on is morally right if the decision-maker freely decides in order to
pursue either their (short-term) desires or their (long-term) interests.
• Authors: Thomas Hobbes, Adam Smith
• The influence of egoism is related to the percep+on of ideal markets and Adam
Smith’s ‘invisible hand’: ‘ it is not from the benevolence of the butcher, the brewer, or
the baker that we expect our dinner, but from their regard to their own interest’
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