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Overview
Prepare future managers to confront ethical decision-making amidst the new business realities of 2020 and 2021 with Ferrell/Fraedrich/Ferrell's market-leading BUSINESS ETHICS: ETHICAL DECISION MAKING AND CASES, 13E. Your students learn how to integrate ethics into key strategic business decisions as reorganized chapters clearly present the ethical decision-making process in today's complex ethical, legal, social and political environments. Current examples and new vignettes highlight the 2020 economic and pandemic realities and preview challenges new managers are most likely to encounter. Updates address concepts, processes and best practices behind successful business ethics with the latest legislation and new coverage of global sustainability and corporate social responsibility. New and original cases highlight practices within familiar organizations, including Tesla and TOMS, while exercises and MindTap online resources reinforce business ethics through hands-on applications.
- NEW AND REVISED VIGNETTES REFLECT THE CURRENT ENVIRONMENT AND ISSUES MOST RELEVANT TO READERS. Powerful and captivating scenarios throughout this edition reflect 2020 economic and pandemic realities. The authors have carefully researched the most common ethical problems within accounting, finance, management and marketing. Updated vignettes highlight issues students are most likely to encounter within the first two years of their business careers, preparing them to navigate common challenges.
- NEW AND REVISED CASES FEATURE FAMILIAR NAMES AND EMERGING ETHICS AND MANAGEMENT TOPICS. Five new cases highlight Tesla and sustainable energy, social responsibility at Patagonia, TOMS' "One for One" philanthropic movement, Home Depot's stakeholder relationships and The Hershey Company’s bittersweet ethical and leadership success. All existing cases are revised to reflect timely and critical ethical decision-making issues that draw readers into the challenges of business leadership today.
- ALL UPDATES AND REVISED RESEARCH REFLECT THE NEW BUSINESS REALITIES OF 2020 AND 2021. Within each chapter the authors have updated the empirical literature and revised terms for current times. For example, Chapter 4 includes updates to the Sarbanes-Oxley Act as well as the Dodd-Frank Wall Street Reform and Consumer Protection Act. Revisions within Chapter 7 demonstrate the impact of cognitive moral development (CMD) on ethical decisions and management actions.
- REORGANIZED CHAPTERS OFFER A MORE LOGICAL PROGRESSION AND EMPHASIS ON ETHICAL DECISION MAKING. Rearranged chapters enable you to present the ethical decision-making process in a more logical way that culminates in the chapter on ethical leadership (Ch. 11). Examples emphasize the bad apple/bad barrel theory, current organizational behavior literature and how leadership at the corporate and managerial levels appears to be more significant within the ethics of business.
- NEW CONTENT EMPHASIZES THE PSYCHOLOGY AND CHARACTERISTICS BEHIND STRONG ETHICAL LEADERSHIP. This edition discusses the elements of a strong leader from the perspective of the Myers-Briggs Type Indicator® (MBTI®) using the Five Factor Personality Profile theory in psychology. These theories form the foundation for "ethical" leadership and distinguish between "good" and "ethical" leadership, which is a crucial differentiation for students to understand.
- COMPLETELY NEW CHAPTER (CH. 12) ADDRESSES TECHNOLOGY, ETHICAL AND SOCIAL RESPONSIBILITIES IN BUSINESS TODAY. The authors highlight the latest technology as well as technology issues that directly relate to current 2020-2022 business ethics or legal debates. Coverage of these latest issues helps your students better understand elements within technology that are driving businesses and governments as well as current and future issues that are defined as ethical or unethical and legal or illegal.
- NEW, DETAILED COVERAGE DISCUSSES SUSTAINABILITY AND CORPORATE SOCIAL RESPONSIBILITY. Students examine the differences between these two 21st-century constructs that are debated in global governments and within the multinational corporate sector. New coverage examines governmental effects on business, future trends in environmentalism and the global shift toward a social justice form of business. In addition, coverage of global business ethics (Ch. 10) differentiates morals and values and the United Nations Global Business Compact as a template for multinational corporations.
- NUMEROUS REAL-WORLD, HANDS-ON APPLICATIONS PLACE STUDENTS IN THE ROLE OF DECISION MAKER. An "Ethical Dilemma" at the opening of each chapter highlights a realistic situation and provides guided discussion questions on how to resolve the dilemma. This content prompts discussion about ethical issues related to the chapter. Chapter-ending "Resolving Ethical Business Challenges" mini-cases give students an opportunity to apply what they have learned as they use critical-thinking skills to address realistic ethical issues.
- UP-TO-DATE AND ENGAGING CASES HIGHLIGHT THE IMPORTANCE OF ETHICAL DECISION-MAKING TODAY. Interesting, original cases feature organizations familiar to students that are facing intriguing ethical dilemmas. Cases put the principles students are learning to the test. Within some cases students can conduct additional research to determine recent developments, because many ethical issues impacting companies take years to resolve.
- MARKET-LEADING APPROACH EMPHASIZES DECISION-MAKING, LEADERSHIP AND STRATEGY. The esteemed authors clearly illustrate how to develop, implement and audit an effective ethics program successfully within a contemporary global environment.
- EFFECTIVE LEARNING FEATURES ENSURE STUDENTS GAIN THE MOST FROM YOUR COURSE. Chapter Objectives, Chapter Outlines, detailed Chapter Summaries and "Check Your E.Q." (Ethics Quotient) exercises help students identify key concepts, initiate discussion and enhance problem-solving skills. Students also have opportunities for self-assessment throughout this edition.
- UNIQUE ROLE-PLAY CASES PROVIDE EXCELLENT CULMINATING EXPERIENCES. These cases, found in the Instructor's Resource Website, allow your students to integrate and apply numerous concepts from this edition. Cases are also effective as ongoing exercises to provide students with extensive opportunities for interacting and making ethical decisions.
- UP-TO-DATE AND ENGAGING CASES HIGHLIGHT THE IMPORTANCE OF ETHICAL DECISION MAKING TODAY. Interesting cases feature organizations familiar to students and those facing intriguing ethical dilemmas. Cases put the principles students are learning to the test. For some cases, students can conduct additional research to determine recent developments because many ethical issues in companies take years to resolve.
- UNIQUE ROLE-PLAY CASES PROVIDE EXCELLENT CULMINATING EXPERIENCES. These cases, found in the Instructor's Resource Website, allow your students to integrate this edition's concepts. Cases are also effective as ongoing exercises to provide students with extensive opportunities for interacting and making ethical decisions.
- MARKET-LEADING APPROACH EMPHASIZES DECISION-MAKING, LEADERSHIP, AND STRATEGY. The esteemed authors clearly illustrate how to develop, implement, and audit an effective ethics program in a contemporary global environment.
- RICH LEARNING FEATURES ENSURING STUDENTS GET THE MOST FROM YOUR COURSE. Chapter Objectives, Chapter Outlines, detailed Chapter Summaries, and "Check Your E.Q." (Ethics Quotient) exercises help students identify key concepts, initiate discussion, and enhance problem-solving skills. Students also have opportunities for self-assessment.
1: The Importance of Business Ethics
2: Stakeholder Relationships, Social Responsibility, and Corporate Governance
3: Sustainability: Ethical and Social Responsibility Dimensions
Part 2: Ethical Issues and the Institutionalization of Business Ethics
4: The Institutionalization of Business Ethics
5: Emerging Business Ethics Issues
Part 3: The Decision-Making Process
6: Ethical Decision Making
7: Individual Factors: Moral Philosophies and Values
8: Organizational Factors: The Role of Ethical Culture and Relationships
Part 4: Implementing Business Ethics in a Global Economy
9: Developing and Implementing an Effective Ethics Program
10: Global Business Ethics Issues
11: Ethical Leadership
12: Technology: Ethics and Social Responsibility Issues
Part 5: Cases
1: From the Outside In: Corporate Social Responsibility at Patagonia
2: Tesla Accelerates the Transition to Sustainable Energy
3: An Apple a Day: Ethics at Apple Inc.
4: TOMS Reinvents the One for One Movement
5: CVS Smokes the Competition in Corporate Social Responsibility
6: Bayer Rounds Up Monsanto
7: Uber Collides with Controversy
8: Herbalife Nutrition Achieves Success by Managing Risks
9: Home Depot Works on Stakeholder Relationships
10: Brewed to Perfection: New Belgium Brewing
11: Google’s Search for Solutions to Privacy Issues
12: Big-Box Retailer Walmart Makes Big Moves in Social Responsibility
13: Volkswagen Cleans Up Reputation After Emissions Scandal
14: Zappos Finds the Perfect Fit
15: Starbucks Serves Up Its Social Responsibility Blend
16: The Hershey Company’s Bittersweet Success
17: Wells Fargo Banks on Recovery
18: Whole Foods Refreshes Its Commitment to Stakeholders
19: The NCAA Enforces Penalties in College Athletics
20: Enron: Not Accounting for the Future
Endnotes
Index