CONTENTS

GENERAL INTRODUCTION 1-22

1. The Importance of Ethics in Modern Business 2

   1. Objective and Scope of the Book 3

   2. Pedagogical Approach 5

   3. Structure of the Book 6

2. Ethical Theories and Traditions in Management: Expanded Discussion 9

   1. Practical Applications of Managerial Ethics 11

   2. Ethics in the Context of Globalization and Technological Advancement 12

3. Looking Forward: The Future of Managerial Ethics 17

   1. Pedagogical Elements and Resources 18

   2. Call to Action and Closing Thoughts 20

CHAPTER 

Highlights of General Introduction 21

AN OVERVIEW OF MANAGERIAL ETHICS 23-46

1.1	Definition and Scope of Managerial Ethics	23
	1.1.1 A Quick Look at Business Ethics	24
	1.1.2 Scope of Managerial Ethics	25
	1.1.3 Key Ethical Principles in Management	28
1.2	The Relationship Between Ethics, Economy, and Society	29
	1.2.1 Ethics and Economic Systems	29
	1.2.2 Corporate Social Responsibility and Sustainability	30
	1.2.3 ESG and Ethics: A Step Forward	32
	1.2.4 The Impact of Managerial Decisions on Society	33
	1.2.5 The Impact of Managerial Decisions on Society: Case Studies	34
1.3	Historical Evolution of Ethical Thought in Management	36
	1.3.1 Early Ethical Thought and Its Influence on Management	36
	1.3.2 The Development of Business Ethics as a Field	37
	1.3.3 New Ethical Challenges in Management	39
	1.3.4 Case Studies of Business Ethical Dilemmas	40
1.4	Introducing Ethical Frameworks	41
	1.4.1 The Utilitarian Approach	42
	1.4.2 The Deontological Approach	42
	1.4.3 Virtue Ethics	42
	1.4.4 Ethics of Care	43
	1.4.5. The Golden Rule	43
	1.4.6. Ethical Decision-Making Model	44
	Highlights of This Chapter	44

CHAPTER 2 ETHICAL TRADITIONS AND THEORIES 47-76
2.1	Synopsis of Principal Schools of Thought and Ethical Traditions	47
	2.1.1 Utilitarianism	47
	2.1.2 Deontological Ethics	50
	2.1.3 Virtue Ethics	54
	2.1.4 Care Ethics	56
	2.1.5 The Golden Rule	58
	2.1.6 Law of 'Karma'	59
2.2	Comparative Analysis of Ethical Traditions	61
	2.2.1 Ethical Theories in Conflict	61
	2.2.2 Integrating Ethical Theories into Managerial Practices	63
	2.2.3 Ethical Decision-Making Models	64
2.3	Case Studies Illustrating the Application of Ethical Theories in Business Decisions	66
	2.3.1 Utilitarian Ethics at Work	66
	2.3.2 Corporate Governance and Deontological Ethics	67
	2.3.3 Virtue Ethics and Leadership	68
	2.3.4 Care Ethics for Compassionate Leaders	69
	2.3.5 The Manager's Golden Rule	70
	2.3.6 Case Studies of Karmic Outcome	71
	2.3.7 Challenges in Applying Ethical Theories	73
	Highlights of This Chapter	74
CHAPTER 3 PERSONAL INTEGRITY AND PROFESSIONAL MORALITY              77-98
3.1	Exploration of the Alignment between Personal Values and Professional Ethics	78
	3.1.1 Defining Personal Values and Professional Ethics	78
	3.1.2 The Process of Aligning Personal and Professional Ethics	80
	3.1.3 Challenges in Alignment: Navigating Ethical Dilemmas and Value Conflicts	82
	3.1.4 Strategies for Alignment: Bridging Personal Values and Professional Ethics	83
3.2	The Role of Integrity, Virtue, and Character in Ethical Leadership	85
	3.2.1 Understanding Integrity, Virtue, and Character	85
	3.2.2 Integrity and Decision-Making	86
	3.2.3 The Virtues of Ethical Leaders	87
	3.2.4 Building Character in Professional Settings	88
3.3	Case Studies on Ethical Dilemmas	90
	3.3.1 Navigating Ethical Dilemmas	90
	3.3.2 Lessons Learned from Ethical Failures	91
	3.3.3 Success Stories of Ethical Leadership	93
	3.3.4 Reflective Practices for Ethical Growth	94
	Highlights of This Chapter	96

CHAPTER 4

CORPORATE ETHICS AND GOVERNANCE 99-140

1. The Significance of Codes of Ethics, Whistleblower Policies

   and Corporate Governance Frameworks 100

   1. Codes of Ethics 101

   2. Whistleblower Policies: Navigating the Landscape of Ethical Oversight and Accountability 106

   3. Corporate Governance Frameworks: Pillars of Ethical Business Practices and Decision-Making 113

2. Case Studies on Corporate Scandals and Their Lessons for Ethical Governance 119

   1. Lessons from the Abyss: Looking at Business Failures and the Way to Good Governance 119

   2. Success Stories in Ethical Turnarounds 122

3. Ethical Decision-Making Models and Frameworks for Businesses 135

   1. Introduction to Ethical Decision-Making Models 125

   2. Creating an Ethical Corporate Culture 130

   3. Frameworks for Ethical Governance 134

Highlights of This Chapter 139

CHAPTER 5

BEHAVIORAL ETHICS IN MANAGEMENT 141-176

1. Introduction to Behavioral Ethics and the Factors Influencing Ethical Decision-Making 141

   1. The Foundations of Behavioral Ethics 143

   2. Cognitive Biases and Ethical Decision-Making 144

   3. Social and Organizational Influences 146

   4. Ethics and Moral Emotions 148

2. Organizational Culture's Impact on Ethical Behavior 149

   1. Defining Organizational Culture 151

   2. The Role of Leadership in Shaping Ethical Culture 152

   3. Ethical Climate and Its Effects on Employee Behavior 157

   4. Systems and Policies Supporting Ethical Culture 160

3. Case Studies on Behavioral Ethics Dilemmas and the Psychology of Ethical

   Decision-Making 161

   1. Case Studies on Behavioral Ethics Dilemmas and the Psychology of Ethical Decision-Making in Indian Context 163

   2. Navigating Ethical Tough Spots 164

   3. Overcoming Ethical Blind Spots 166

   4. Overcoming Ethical Blind Spots: Indian Case Studies 168

   5. Success Stories of Ethical Decision-Making 171

   6. Reflective Practices for Ethical Awareness 172

Highlights of This Chapter 174

CHAPTER 6

LEGAL AND ETHICAL COMPLIANCE IN BUSINESS 177-200

1. Overview of the Legal Environment Governing Corporate Ethics in Different Jurisdictions 177

   1. An Overview of Legal Frameworks 178

   2. Comparative Legal Environments 179

   3. Legal Instruments for Enforcing Corporate Ethics 181

2. The Interplay Between Law and Ethics in Corporate Governance 182

   1. Law vs. Ethics in Corporate Governance 184

   2. Ethical Responsibility Extending Beyond Legal Obligations 185

   3. Legal Compliance as an Ethical Minimum 187

3. Case Studies on Legal Challenges and Ethical Compliance Issues Faced by

   Businesses 190

   1. Navigating Complex Legal Environments: Case Studies 191

   2. Legal and Ethical Failures: Case Studies 192

   3. Success Stories in Legal and Ethical Compliance: Case Studies 194

   4. Emerging Legal and Ethical Challenges 197

Highlights of This Chapter 198

CHAPTER 7

ETHICS OF TECHNOLOGY AND INNOVATION 201-228

1. Thoughts on Ethics in the Fourth Industrial Revolution 203

   1. A Quick Look at the Fourth Industrial Revolution 203

   2. AI and Thoughts on Ethics 204

   3. Transhumanism and Its Ethical Implications 207

2. The Moral Effects of Disruptive Technologies on Business and Society 209

   1. Impact on Society: Examination of How Disruptive Technologies Impact

      Societal Norms, Privacy, Security, and the Digital Divide 210

   2. Doing Business in an Ethical Way in the Age of Innovation 212

   3. Technology and the Environment 215

3. Case Studies on AI Ethics, Data Privacy, and the Social Responsibilities of Tech Companies 217

   1. AI Ethics in Practice 218

   2. Data Privacy and Security 220

   3. Social Responsibility of Tech Companies 223

   4. Ethical Innovation 224

Highlights of This Chapter 226

CHAPTER 8

SUSTAINABLE AND GLOBAL BUSINESS ETHICS 229-254

1. The Role of Ethics in Achieving Sustainability and Addressing Global Challenges 231

   1. Sustainability and Ethical Responsibility 233

   2. Global Challenges and Ethical Solutions 234

      
      

2. Ethical Considerations in International Business and Cross-Cultural Management 238

   1. Navigating Ethical Complexity in International Business 240

   2. Cross-Cultural Ethical Management 241

3. Case Studies on Ethical Issues in Global Supply Chains and Environmental Sustainability 244

   1. Ethical Supply Chain Management 246

   2. Promoting Environmental Sustainability 249

Highlights of This Chapter 253

CHAPTER 9

FUTURE DIRECTIONS IN MANAGERIAL ETHICS 255-280

9.1	Emerging Trends and Challenges in Business Ethics	257
	9.1.1 Globalization and Ethical Complexity	259
	9.1.2 Technology and Ethics	260
	9.1.3 Environmental Urgency/Crisis	262
	9.1.4 Social Justice and Equity	263
9.2	The Future of Ethical Leadership and Corporate Social Responsibility	264
	9.2.1 Evolving Concepts of Leadership	266
	9.2.2 Expanding Scope of CSR	267
	9.2.3 Empowering of ESG	268
	9.2.4 Getting Stakeholders Involved	270
9.3	Promoting Ethical Innovation and Enabling Ethical Culture	271
	9.3.1 Ethical Innovation	272
	9.3.2 Building Ethical Cultures	274
	9.3.3 Preparing for Ethical Challenges	276
	9.3.4 Case Studies: Navigating Future Ethical Challenges	277
	Highlights of This Chapter	279

CHAPTER 10

APPLIED MANAGERIAL ETHICS 281-302

1. Useful Advice for Putting Ethical Principles into Practice in Organizations 283

   1. Creating Ethical Guidelines and Procedures 283

   2. Ethical Decision-Making Processes 285

   3. Developing or Deepening Moral Understanding 286

2. Ethical Leadership and the Development of Ethical Organizations 288

   1. Role of Leadership in Ethical Organizations 288

   2. Building an Ethical Culture in the Workplace 290

   3. Encouraging Ethical Behavior 292

3. Tools and Resources for Ongoing Ethical Education and Development 294

   1. Ethical Training Programs 294

   2. Using Technology to Advance Ethical Practices 296

10.3.3 Engaging with Ethical Resources	297
10.3.4 Continuous Improvement in Ethical Practices	299
Highlights of This Chapter	301
CHAPTER 11 ETHICS FOR SOCIAL FLOURISHING	303-322
11.1 The Power and Responsibility of Generations	298
11.1.1 Unity and Division in Society	306
11.1.2 Coupling Technological Progress with Ethical Progress	307
11.1.3 Elevating Moral Thinking to Resolve Problems	309
11.2 The Human Capability for Good	310
11.2.1 The True Nature of Humanity's Goodness	311
11.2.2 Transforming Evil with Goodness	313
11.3 Living with Integrity	314
11.3.1 Addressing Greed for Societal Sustainability	315
11.3.2 The Unifying Power of Shared Values	317
11.3.3 Ethical Aspirations for Society: Expanding the Vision of Truth,
Goodness and Love	319
Highlights of This Chapter	320
CHAPTER 12 ETHICAL CHALLENGES AND FAILURES OF MULTINATIONAL
CORPORATIONS	323-346
12.1 Introduction to Ethical Dilemmas in Global Operations	323
12.2 Case Study of Ethical Failures in Multinational Corporations: Nestlé’s Higher Sugar Content in Indian Baby Foods	326
12.2.1 Nestlé’s Higher Sugar Content in Indian Baby Foods	326
12.2.2 The Maggi Fiasco : The Maggi Noodles Controversy	328
12.2.3 Violence at the Apple Plant (Wistron Corporation) in 2020	329
12.2.4 Boeing’s Ethical Failures: The 737 Max Scandal of Design
Flaws and Regulatory Oversights	332
12.2.5 Tata’s Singur Challenges: The Ethical Challenges of Land Acquisition	334
12.3 Ethical Standards and Local Cultures: A Complex Interplay	336
12.3.1 Cultural Relativism vs. Universal Ethical Standards	336
12.3.2 The Role of Local Regulations	338
12.4 The Responsibility of Multinational Corporations in Setting Ethical Standards	339
12.4.1 The Power and Influence of MNCs	339
12.4.2 Corporate Social Responsibility (CSR) and Ethical Best Practices	341
12.5 Conclusion: Towards a Global Ethical Framework for MNCs	342
Highlights of This Chapter	345

CHAPTER 13

ETHICAL APPLICATIONS IN FUNCTIONAL AREAS 347-386

13.1	Introduction to Ethics in Various Functional Areas	347
	13.1.1 The Importance of Ethics Across Functions	347
	13.1.2 The Role of Ethics in Shaping Business Domains	349
13.2	Ethics in Marketing	351
	13.2.1 Ethical Marketing Practices	351
	13.2.2 Corporate Social Responsibility in Marketing	352
	13.2.3 Digital Marketing and Data Ethics	353
12.3	Ethics in Organizational Behavior	355
	13.3.1 Ethical Leadership in Organizational Behavior	355
	13.3.2 Ethical Communication in Organizations	356
	13.3.3 Ethics in Organizational Culture	356
	13.3.4 Ethical Decision-Making in Organizations	357
13:4	Ethics in Human Resource Management	344
	13.4.1 Fair and Equitable Treatment	357
	13.4.2 Employee Rights and Workplace Ethics	359
	13.4.3 Ethical Leadership and Organizational Culture	360
13.5	Ethics in Procurement and Supply Chain Management	361
	13.5.1 Ethical Sourcing and Supplier Relations	361
	13.5.2 Transparency and Accountability in Procurement Processes	362
	13.5.3 Sustainable Procurement Practices	363
13.6	Ethics in Production and Operations	364
	13.6.1 Ethical Production Practices	364
	13.6.2 Corporate Responsibility in Product Lifecycle Management	366
	13.6.3 Innovation and Ethics in Operations	367
13.7	Ethics in Financial Management	369
	Financial Integrity and Transparency The Role of Ethics in Investment Decisions: Socially Responsible Investing (SRI) and ESG Criteria	369 370
	13.7.3 Risk Management and Ethical Considerations	371
13.8	Ethics in Strategic Management	372
	13.8.1 Strategic Planning and Ethical Decision-Making	372
	13.8.2 Corporate Social Responsibility as a Strategic Imperative	373
	13.8.3 Ethics in Mergers and Acquisitions	374
13. 9	Ethics in Information Systems and Technology Management 13.9.1 Data Privacy and Security: Ethical Implications of Data Collection, Storage, and Usage	376 376

1. Ethical Challenges Associated with Artificial Intelligence and Automation 377

2. Ethical Considerations in Digital Transformation and Initiatives 378

13. 10 Integrating Ethics Across Functional Areas 379

1. Cross-Functional Ethical Considerations 379

2. Developing Ethical Leaders in MBA Programs 380

13. 11 Conclusion 382

1. The Role of Ethics in Shaping the Future of Business 382

2. The Path Forward for Ethical Business Practices 383

Highlights of This Chapter 384

GENERAL CONCLUSION 387-392

The Main Takeaways 388

REFERENCES 393-430

GLOSSARY 431-444

APPENDICES 445-474

Appendix A: Some Significant Case Studies 445

Appendix A.1 Corporate Governance and Accountability 445

Appendix A.2 Supply Chain Ethics 447

Appendix A.3 Technology and Ethics 449

Appendix A.4 Ethical Dilemmas in Marketing 450

Appendix B: Ethical Decision-Making Frameworks and Tools 453

Appendix B.1 The PLUS Ethical Decision-Making Model 453

Appendix B.2 Stakeholder Analysis Tools 454

Appendix B.3 The Trolley Problem and Modern Ethics 457

Appendix B.4 The ETHICS Model and Modern Ethics 458

Appendix B.5 Applying the MORAL Model to Business Issues 460

Appendix B.6 Ethical Decision Making Using ABCD Model 461

Appendix C: Guidelines for Ethical Discussions and Reflections 465

Appendix C.1 Facilitating Ethical Discussions 465

Appendix C.2 Getting Started with Reflective Journals 466

Appendix C.3 Case Study Analysis Framework 468

Appendix C.4 Structures Fostering Ethics in Company 470