Discussion Questions Answer In About 300 Words Each Using CI

Discussion Questions Answer In About 300 Words Each Using Citations

Discussion questions for “The Ethics of Management: A Multidisciplinary Approach,” 7th edition by Hosmer McGraw-Hill (2011), demand thoughtful examination of managerial morality and stakeholder loyalties. These questions challenge managers to balance ethical considerations with economic objectives, especially within capitalistic frameworks where profit maximization often takes precedence.

Paper For Above instruction

Question 1 addresses the fundamental reason why business managers should adopt moral practices despite the inherent profit-driven nature of capitalism. Fundamentally, morality in management is essential not only for ethical reasons but also for long-term organizational sustainability. As Hosmer (2011) argues, managers act as moral agents whose decisions impact various stakeholders, including employees, customers, suppliers, and the broader community. Acting ethically fosters trust, enhances reputation, and ensures compliance with legal standards, which are vital for enduring success. While profit maximization is a primary goal in capitalism, it does not justify unethical behaviors such as deception, exploitation, or corruption. Ethical management promotes fairness, transparency, and social responsibility, which ultimately contribute to sustained profitability. For example, research shows that companies emphasizing ethical practices tend to outperform their less ethical counterparts over time (Valentine & Barnett, 2003). Furthermore, managers face temptations to pursue personal or organizational gains at the expense of moral standards. To counteract these temptations, managers should adhere to core principles of integrity and social responsibility framed within a multidisciplinary understanding of ethics, including respect for human rights and environmental stewardship (Hosmer, 2011). Ultimately, moral management aligns organizational objectives with societal values, fostering a resilient enterprise that benefits all stakeholders, including shareholders, by ensuring sustainability and legitimacy in a complex world.

Question 2 explores the delicate issue of stakeholder priorities, specifically where loyalties should lie: with shareholders or broader stakeholders, as illustrated in the Procter & Gamble case 5.1. Shareholders are primarily interested in profit and return on investment, which is often viewed as the cornerstone of corporate responsibility in capitalism. However, stakeholder theory posits that organizations have a duty to consider the needs of all groups affected by corporate actions, including employees, customers, suppliers, communities, and the environment (Freeman, 1984). The case on P&G highlights the tension between maximizing shareholder value and fulfilling responsibilities toward broader stakeholders. While shareholders' interests are financially driven, stakeholder loyalty should be guided by the recognition that long-term profitability depends on maintaining positive relationships and social legitimacy with all stakeholders. For instance, P&G’s commitment to sustainable practices and ethical supply chain management demonstrates an understanding that stakeholder trust can lead to sustained profit and competitive advantage (Eweje, 2006). Ethical leadership requires managers to balance these interests judiciously, prioritizing stakeholder well-being while still delivering value to shareholders. This dual commitment fosters corporate social responsibility, ultimately enhancing stakeholder loyalty and ensuring enduring corporate success. Thus, while shareholders’ interests are crucial, ethical management must recognize that loyalty to all stakeholders underpins long-term sustainability and profitability.

References

• Eweje, G. (2006). Corporate social responsibility and sustainable development in Africa: Issues and implications. Journal of Business Ethics, 69(4), 317–328.
• Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman.
• Hosmer, L. T. (2011). The Ethics of Management: A Multidisciplinary Approach (7th ed.). McGraw-Hill.
• Valentine, S., & Barnett, T. (2003). Ethical context, organizational commitment, and HR ethical conduct. Journal of Business Ethics, 43(4), 331–339.