RSUSSH 2020
IN20-260 A Survey Towards a Practical Learning Theory for Teaching Business Ethics to Business Law Students
Presenter: Bruce Weeks
Rangsit University, Thailand
Abstract
Business ethics are an important issue for undergraduate business students. Yet many business law texts employ cluttered and unclear theories unrelated to specific business ethics practices. In response three straightforward theories are posited to guide business decisions, profit maximization, the stakeholder approach and the corporate good citizen. These suggested ideas were derived from a survey of prevailing theories on business ethics. The maximizing profits approach to corporate behavior is that companies only have a social responsibility to use available resources to make money, returning this profit to a company's owners. Ethical constraints involve observing relevant laws and engaging in open and fair competition without deception and fraud. This approach has been supported by a long line of legal opinion and formal agency concepts on the duty of corporate officers. The stakeholder theory recognizes that business decisions affect many beyond a company's owners, so business ethics should looks beyond shareholder value and considers those groups directly impacted by corporate decisions. Corporate good citizen identifies certain characteristics of citizens in society and demand business ethics reflect these values in the carrying out of business.
Citation format:
Weeks, B.. (2020). A Survey Towards a Practical Learning Theory for Teaching Business Ethics to Business Law Students. Proceeding in RSU International Research Conference, May 1, 2020. Pathum Thani, Thailand.QUESTIONS & ANSWERS
Thank you for your presentation. I'm interested in your talk, but My major is not Business Law. Could you give(show) me some example about unclear theories unrelated to specific business ethics practices?
Thank you for your question.
I consider ethics in the business context to be categorized in three ways. The first is individual ethics, the second is organizational ethics within a business and the third is industry-wide ethics. As I indicated in my paper I focused on what ethical theories I believe should be included in Business Law textbooks. Most textbooks focus on individual ethics how people should generally behave. Examples are John Rawls and his theory of justice as fairness which I would characterize as “do unto others as they do unto you”. Another popular topic frequently used in business law textbooks is Immanuel Kant’s ideas which reference one’s duty in society. I think the ethics students should be exposed to in a Bachelor’s Degree business law class should be organizational ethics, how a business person should behave ethically in the context of a business organization. That is why I posit the three theories of ethics, namely profit maximization, stakeholder and corporate good citizen. Thank you the interest.