Business ethics 2009: Ethical decision making and cases by Linda Ferrell - Book Report/Review Example

Book Report Business Ethics 2009: Ethical Decision Making and Cases by Linda Ferrell, John Fraedrich, and O. C. Ferrell Introduction Business ethics can be described as the behavior or moral principles that guide a business in its day-to-day dealings with the world. This includes customers, suppliers, distributors, shareholders, employees, and the society at large. As such, the ethics of a certain business can be diverse. These ethics not only apply to how the business associates with the society as a whole, but also to their dealings with the single customer.

Business ethics are largely associated with corporate social responsibility. CSR can be termed as a good business ethic. While businesses are in the business of making money, their reputation is dictated by how ethical they conduct their business. Therefore, every business should strive to uphold good business ethics in a diverse and competitive environment. This paper seeks to examine a book on business ethics, summarize its content, analyze and evaluate the book. Ferrell, Linda, Fraedrich, John, and Ferrell, O. C. Business Ethics 2009: Ethical Decision Making and Cases.

Connecticut: Cengage Learning, 2009. Summary of Content This is a book business ethics that addresses the issue of ethical decision making, and provides cases to illustrate these issues. It is a book which covers the complex environment in which managers operate in which managers have to confront ethical decision making. By focusing on the managerial framework, the authors address the overall concepts, processes, and the best practices that are associated with successful business ethics programs.

The book offers a direction on how ethics can be incorporated into important and strategic business decisions. The book also provides 18 cases which reinforce the material presented by the authors. These cases cover a broad range of organizations and topics, including Enron, Tyco International Ltd, and other cases that have had ethical issues arising in business. For example, Chapter 10 tackles the topic of “Business Ethics in a Global Economy”, and includes information on best practices, ethics audits, and disaster recovery planning.

Analysis and Evaluation Part one of the book provides an overview of business ethics. This part contains two chapters, chapter 1 and 2. Chapter 1 examines the importance of business ethics. In this chapter, the authors explore the conceptualizations of business ethics from an organizational perspective, examine the historical foundations and evolution of business ethics, provide evidence that ethical value systems support business performance, and provide insight into the extent of ethical misconduct in the workplace as well as the pressures for unethical behavior.

Chapter 2 looks at stakeholder relationships, social responsibility, and corporate governance. In this chapter, the authors identify the roles that stakeholders have in business ethics. In addition to this, the chapter defines social responsibility, examines the relationship between stakeholder orientation and social responsibility, delineates a stakeholder orientation in creating corporate responsibility, explores the role of corporate governance in structuring ethics and social responsibility in business, and also lists the steps that are involved in implementing a stakeholder perspective in social responsibility and business ethics.

Part two of the book is about ethical issues and the institutionalization of business ethics. Just like the previous part, it contains two chapters, chapter 3 and chapter 4. In chapter 3, the authors look at the issues that are emerging in business ethics. The chapter defines ethical issues in the context of organizational ethics. The chapter also examines ethical issues as they relate to the basic values of fairness, honesty, and integrity. It also looks at ethical issues and dilemmas in business such as abusive and intimidating behavior, bribery, lying, conflicts of interest, discrimination, corporate intelligence, environmental issues, sexual harassment, insider trading, fraud, intellectual-property rights, and privacy.

Finally, the chapter examines the challenge of determining an ethical issue in business. In chapter 4, the authors address the institutionalization of business ethics. Part 4 deals with the decision making process in an organizational setting. The decision making process is influenced by several factors in the organizational environment. This part contains two chapters, chapters 5, 6, and 7, which examines this complex environment that managers confront ethical decision making. The authors address the dynamics that determine an ethical decision process, as well as the consequences of making unethical decisions.

Part 5 contains chapters 8, 9, and 10, which describe ways of how to implement business ethics in a global economy. For example, chapter 10 contains information on best practices, ethics audits, and disaster recovery planning. This brings to the light cross-national ethical issues, and develops strategic skills in planning and working through disasters. It also provides 18 cases which reinforce the applied approach to ethics that the text provides. Some of these cases include “Enron: The Case of the Tilted E”, “Tyco International Ltd”, Martha Stewart’s Insider Trading Scandal”, and “WorldCom”.

These are some of the cases that are used to discuss the issues in business ethics that the text covers. Conclusion This book or text is exhaustive and covers a wide range of ethical issues in business. Basically, the book fulfills the need for a practical, applied text that is at the core of any business ethics course. This is because the book adopts an applied approach by using about 18 cases that reinforce the text. By doing so, the book provides a more practical approach to the real issues in the real business world that concern business ethics.

For example, the case of Enron is one that has been majorly discussed in the business world. With such issues being covered by the text, it means that the book borrows a lot from what happens around in the business world. The text is well written and structured, and provides insight into business ethics. Works Cited Ferrell, Linda, Fraedrich, John, and Ferrell, O. C. Business Ethics 2009: Ethical Decision Making and Cases. Connecticut: Cengage Learning, 2009.