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THE ETHICS OF MANAGEMENT

This is the most critical issue in the ethics of management: the continual conflict between the economic performance of the firm, measured by revenues, costs and profits and owed to the stockholders, and the social performance of the firm, much more difficult to measure, but represented by obligations to em ployees, customers, creditors, suppliers, distributors, and mem- bers of the general public. If we discharge our employee who has 28 years of service but is no longer needed, our costs will go down, yet his life may be ruined. If we don't tell our customer about the design flaw in our product, our warranty expenses will be lower, yet she may be seriously inconvenienced and perhaps even hurt. If we replace our distributor by shipping directly from the factory to the retailers, our profits will increase, yet we

may force that company out of business. How do we decide when we face these issues? How do we determine what is "right" and "proper" amd "just" in these and other instances?

This book looks at how we decide. It first considers the na- ture of the ethical dilemma in business-this conflict between economic and social performance. Ethical dilemmas in manage- ment are not simple choices between "right" and "wrong"; they are complex judgments on the balance between economic re- turns and social damages, complicated by the multiple alterna- tives, extended consequences, uncertain probabilities, and career implications that are an inherent part of these decisions.

The book then examines three alternative means of arriving at a decision when faced with an ethical conflict:

1. Economic analysis, relying on impersonal market forces.

2. Legal analysis, relying on impersonal social rules.

3. Ethical analysis, relying on personal moral values.

Availability
10000471174.4 HOS e 2ndRLC MM (Rak Buku Umum)Available
Detail Information
Series Title
-
Statement of Responsibility
Call Number
174.4 HOS e 2nd
Publisher
UNITED STATES : Richard D. Irwin.,
Collation
xi, 204 p. : ill ; 23cm.
Language
English
ISBN/ISSN
0-256-08489-0
Classification
174.4
Content Type
-
Edition
2nd Edition
Subject(s)
Management
Business Ethic
Ethics
Specific Detail Info
-
Other version/related

No other version available

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