The History of Business Ethics and Stakeholder Theory in America
The first part of your reading in Daniel Terrisâ€™ book will include an overview of Lockheed Martinâ€™s organization and will lay out the research plan that Terris used to obtain information necessary for his work. This will be followed by a general overview of the evolution of business ethics in America.
1. Based on your readings, describe what you consider to be the responsibility of top leadership in a large organization with respect to reaching a balance between profits and stakeholder concerns. Please support your position by giving some examples from the text or from other sources where CEOs did a good or poor job of finding this balance.
2. Terris discusses the history of business ethics in America since the late 1800s with respect to anti-competitive practices, seeking unfair advantage through immoral arrangements with suppliers and public officials, failing to adhere to laws and regulations, and lack of transparency. Discuss to what extent you believe things to be better or worse in the present day for businesses in general.
3. On page 41, Terris discusses the ideas of Howard Bowen regarding the evolution of social responsibility of businesses. To what extent do you think his predictions held true since 1953?
According to the Publication Manual of the American Psychological Association, there are three reasons why we need to use proper citations and references.
â€œTo ensure the accuracy of scientific knowledgeâ€ (p.11). â€“ How do we know if what you are reading is really the truth? We can look at the citation and the reference and do further research to make sure what you are reading and what you are basing your research on is correct.
â€œTo protect the rights and welfare of research participantsâ€ (p.11). â€“ People deserve to get credit for their work. When you earn a degree and go on to do research, you will want credit for the work you have published.
â€œTo protect intellectual property rightsâ€ (p.11). â€“ When we refer to inventions, we should give credit to the person who invented the item, trademarked the item, or developed a design. This protects their work.