How has moral relativism led to criminal activities by some employees in companies?

How has moral relativism led to criminal activities by some employees in companies?

Moral relativism suggests that morality is relative to some personal, social, or cultural standard. There is no method for deciding whether one decision is better than another. For this very reason, many people justify their unethical positions, arguing that there is not one absolute code of ethics.

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3-2. How does a company ensure that its code of ethics is integrated into the daily decision making process of the company and is not just a symbolic trophy or plaque hanging on the wall?

When management of a company wants to improve the ethical behavior of employees in the organization, a code of ethics should be communicated in training programs, in performance appraisal systems, policies and procedures, and also through their own actions.

SUGGESTED ANSWERS TO DISCUSSION QUESTIONS:

3-3. What is the relationship between corporate governance and social responsibility? (LO 2)

This question is partially answered by the last trend in corporate governance presented in Chapter 2. Quite simply, it states that society, in the form of special interest groups, increasingly expects boards of directors to balance the economic goal of profitability with the social needs of society. Issues dealing with workforce diversity and the environment are now reaching the board level. If business corporations are to avoid increased governmental restrictions on their activities, management will need to be even more aware of the various needs of their stakeholder groups. The board of directors is in a unique position to view the corporation as a whole and to evaluate management’s performance in terms of stakeholder criteria. To the extent that boards only use shareholder value as their key criteria, they may not be acting responsibly from society’s point of view. Increasingly, concerns over social responsibility may be directed through the board of directors. Agency theory defines the board’s interests quite narrowly. Perhaps it is time for agency theory to be expanded to include stakeholders other than just shareholders. Stewardship theory may provide the rationale to expand the responsibilities of the board and top management in terms of the corporation’s overall social responsibilities. This is likely to continue being a controversial issue for quite some time.

3-4. What is your opinion of Apple’s having a code of conduct for its suppliers? What would Milton Friedman say? Contrast his view with that of Archie Carroll. (LO 1)

Do a company’s responsibilities end at its boundary, or do its responsibilities extend to include its suppliers and distributors? This very thorny question has become a point of contention in the area of social responsibility. The question includes a basic question i