Unit 5 Business Ethics

1. Unit 5 Business Ethics

2. Teaching Procedures Lead-in Passage A Passage B General Writing Practical Writing Company Logo

3. Lead-in • Look at the following pictures of big companies with international reputation, Do you know whether they have some problems of business ethics? Company Logo

4. Listen to this — Japanese companies have started to refine their ethics programs and internal control structures. Some 55% of them have established a corporate code of conduct, ethics guidelines, compliance _________(S1)   and other such documents, 37% have a department or division dedicated to ethics and compliance issues, and 43% _______(S2)   hold ethics-related training programs targeting employees. A growing number of Japanese businesses have taken steps to reinforce oversight functions, for example by engaging independent outside directors. In 1997, Sony Corporation took the __________(S3) of cutting its executive board from 38 to 10 directors while introducing the new post of executive officers. Other companies including Omron and Kobe Steel followed suit, and by 2000 about 240 businesses had reportedly made similar _________ (S4) reforms. Company Logo

5. Listen to this — Even so, the image of companies portrayed by the market and the general public___________(S5) far from ethical. For example, in a survey of students' views of the Japanese business community, conducted in autumn 2000, 68% of the respondents agreed that "Honest companies are not ___________(S6)   while dishonest companies are making profits"; 63% believed that " There is hardly any information as to which companies are ___________(S7) , "; 84% believed that “__________ (S8) "; and 62% agreed that "many companies believe it's worth engaging in unlawful practices." If this is the new generation's perception of reality, it means that______________ (S9)   . Certainly, companies whose business performance has deteriorated as a result of scandals____________ (S10)  . But such efforts are not long-lasting if a company fears they will reduce its competitiveness. Company Logo

6. Listen to this — Japanese companies have started to refine their ethics programs and internal control structures. Some 55% of them have established a corporate code of conduct, ethics guidelines, compliance _________(S1)   and other such documents, 37% have a department or division dedicated to ethics and compliance issues, and 43% ____________(S2)   hold ethics-related training programs targeting employees. A growing number of Japanese businesses have taken steps to reinforce oversight functions, for example by engaging independent outside directors. In 1997, Sony Corporation took the __________(S3) of cutting its executive board from 38 to 10 directors while introducing the new post of executive officers. Other companies including Omron and Kobe Steel followed suit, and by 2000 about 240 businesses had reportedly made similar __________ (S4) reforms. manuals periodically initiative structural Company Logo

7. Listen to this — Even so, the image of companies portrayed by the market and the general public___________(S5) far from ethical. For example, in a survey of students' views of the Japanese business community, conducted in autumn 2000, 68% of the respondents agreed that "Honest companies are not ___________(S6)   while dishonest companies are making profits"; 63% believed that " There is hardly any information as to which companies are ___________(S7) , "; 84% believed that “________________________________________ (S8) "; and 62% agreed that "many companies believe it's worth engaging in unlawful practices." If this is the new generation's perception of reality, it means that________________________________________________________________ ________________(S9). Certainly, companies whose business performance has deteriorated as a result of scandals___________________________________ ____________________________(S10)  . But such efforts are not long-lasting if a company fears they will reduce its competitiveness. remains rewarded honest Penaltiesagainstscandalsaretoo lenient Japanese companies have little incentive to tackle ethical and compliance issuesinternally have made greater efforts to deal with ethical and compliance issues Company Logo

8. Read and Explore Passage A Passage B Company Logo

9. Preview Check Detailed Study Passage A Language Drill Company Logo

10. Reference Preview Check 1. What is the cynical attitude toward business morally? And what is the skeptical one? Text Moneymaking is inevitably tainted by greed, deceit, and exploitation./Behind every great fortune lies a great crime. Company Logo

11. Reference Preview Check 2. Why does the author mention The Bible in paragraph 8? Text To show that immoral moneymaking goes back a long way. Company Logo

12. Reference Preview Check 3. How do the contemporary media define business? Text as greedy, corrupt and ruthless. Company Logo

13. Reference Preview Check 4. What do Stephen Covery and Tom Peters think of business morality? Text Moral virtue is essential for success in business. Company Logo

14. Reference Preview Check 5. What's the author's attitude toward morality in business? Text Against the traditional view and in favor of creating new morality norms in business. Company Logo

15. Passage A The Moral Advantage: How to succeed in business by doing the right thing As for the moral advantage in business, of all places, everyone knows a modicum of ethics is called for in any business — you can't cheat your customers forever and get away with it. But wouldn't it be more advantageous if you actually could get away with it? Profits would soar out of sight! Then you would really have an advantage, or so the thinking might go. The notion of seeking the moral advantage is a new way of thinking about ethics and virtue in business, an approach that does not accept the need for trade-offs between ambition and conscience. Text Company Logo

16. Passage A Far from obstructing the drive for success, a sense of moral purpose can help individuals and companies achieve at the highest — and most profitable — levels. Cynicism dominates our attitudes about what it takes to succeed in business. A common way of thinking about morality in business goes something like this: Ethical conduct is an unpleasant medicine that society forces down business people's throats to protect the public interest from business avarice. Morality gets in the way of the cold, hard actions truly ambitious Skepticism people must take to reach their goals. Moneymaking is inevitably tainted by greed, deceit, and exploitation. Company Logo

17. Passage A The quest for profits stands in opposition to everything that is moral, fair, decent, and charitable. Skepticism about moneymaking goes back a long way. The Bible warns that it's harder for a rich man to enter the kingdom of heaven than for a camel to pass through the eye of a needle. "Behind every great fortune," wrote French novelist Honoré de Balzac in the 1800s, "lies a great crime." British author G. K. Chesterton sounded the same theme in the early 20th century, noting that a businessman "is the only man who is forever apologizing for his occupation.“ The contemporary media often characterize business as nothing more than a self-serving exercise in greed, carried out in as corrupt and ruthless a manner as possible. In television and movies, moneymaking in business is tainted by avarice, exploitation, Company Logo

18. Passage A or downright villainy. The unflattering portrayals have become even more pointed over time. In 1969, the businessman in Philip Roth's Goodbye, Columbus advises the story's protagonist, "To get by in business, you've got to be a bit of a thief." He seems like a benignly wise, figure compared with Wall Street's 1980s icon, Gordon Gekko, whose immortal words were "Greed is good." Yet some important observers of business see things differently. Widely read gurus such as Stephen Covey and Tom Peters point to the practical utility of moral virtues such as compassion, responsibility, fairness, and honesty. They suggest that virtue is an essential ingredient in the recipe for success, and that moral standards are not merely commendable choices but necessary components of a thriving business career. This is a frequent theme in commencement addresses Company Logo

19. Passage A and other personal testimonials: Virtuous behavior advances a career in the long run by building trust and reputation, whereas ethical shortcomings eventually derail careers. The humorist Dorothy Parker captured this idea in one of her signature quips: “Time wounds all heels. So who's right --- those who believe that morality and business are mutually exclusive, or those who believe they reinforce one another? Do nice guys finish last, or are those who advocate doing well by doing good the real winners? Is the business world a den of thievery or a haven for upstanding citizens? With colleagues Howard Gardner at Harvard University and Mihaly Csikszentmihalyi at Claremont Graduate University, I've examined this question by interviewing 40 top business leaders, such as McDonald's Company Logo

20. Passage A CEO Jack Greenberg and the late Washington Post publisher Katharine Graham, between 1998 and 2000 as part of our joint "Project on Good Work." We found that a strong sense of moral purpose not only promotes a business career but also provides a telling advantage in the quest to build a thriving enterprise. In fact, a sense of moral purpose stands at the center of all successful business innovations. Far from being a constraining force that merely keeps people honest and out of trouble, morality creates a fertile source of business motivation, inspiration, and innovation. Company Logo

21. Passage A This is different from the view of morality you'll encounter in a typical business-ethics course. It's so different that I now speak about moralities, in the plural, when discussing the role of virtue and ethics in business. Morality in business has three distinct faces, each playing its own special role in ensuring business success. (867 words) Company Logo

22. Honoré de Balzac (1799-1850): French journalist and writer, one of the creators of realism in literature. Balzac's huge production of novels and short stories are collected under the name La Comédie humaine, which originated from Dante′s The Divine Comedy. Company Logo

23. Philip Roth (1933—): American novelist and short story writer. Roth achieved first fame with GOODBYE COLUMBUS (1959). It consisted of a novella and five short stories and described the life of a of Jewish middle- class family. Company Logo

24. G.K. Chesterton (1874 — 1936): He was a prolific and gifted British writer in virtually every area of literature. A man of strong opinions and enormously talented at defending them, his exuberant personality nevertheless allowed him to maintain warm friendships with people — such as George Bernard Shaw and H. G. Wells--with whom he vehemently disagreed. During his life he published 69 books and at least another ten have been published after his death. Many of those books are still in print. Company Logo

25. Gordon Gekko, a hero in the film Wall Street, in 1987. Gordon is the premiere capitalist. To him its not about how much money one has as its a "zero sum game." Gekko proudly boasts that he makes nothing. Gekko uses inside information to gain the upper hand in his stock investments. He signs over control of his porto folio to Bud Fox at one point so he could be fully insulated from any potential legal downfall down the road. Company Logo

26. Stephen Covey, PhD, is an internationally respected leadership authority, family expert, teacher, organizational consultant, and co-chairman of Franklin Covey Co. He is also the author of several acclaimed books, including The 7 Habits of Highly Effective People. Company Logo

27. Tom Peters (1942—):U.S. contemporary economist. Fortune calls Tom Peters the Ur-guru (guru of gurus) of management — and compares him to Ralph Waldo Emerson, Henry David Thoreau, Walt Whitman and H.L. Mencken. Tom describes himself as a prince of disorder, champion of bold failures, maestro of zest, professional loudmouth, corporate cheerleader, lover of markets, capitalist pig, and card-carrying member of the ACLU. Company Logo

28. Claremont Graduate University CGU is like no other graduate-level university in the nation. Founded in 1925, CGU is an independent institution devoted entirely to graduate study. The Carnegie Foundation for the Advancement of Teaching has classified CGU as a Doctoral Research University-Extensive, the highest rating in its new classification system, reserved for some of the world's finest institutions. Company Logo

29. Washington Post publisher Katharine Graham Katharine Graham was chairman of the executive committee of The Washington Post Company from 1993 until her death on July 17, 2001. She was chairman of the board from May 1973 to May 1991 and served as president from 1963 to 1973. She was publisher of The Washington Post newspaper from 1969 to 1979.Mrs. Graham was the author of Personal History, a memoir for which she received the 1998 Pulitzer Prize for Biography. Company Logo

30. Microsoft Corporation is a leading American computer software company. The company’s Windows operating systems for personal computers are the most widely used operating systems in the world. Microsoft’s other well-known products include Word, a word processor; Excel, a spreadsheet program; Microsoft Access, a database program; and PowerPoint. Microsoft’s Internet Explorer allows users to browse the World Wide Web. Company Logo

31. modicum n. modicum of sth — small or moderate amount of sth Examples Anyone with even a modicum of intelligence would have realized that! Company Logo

32. cynic n. person who believes that people do not do things for good, sincere or noble reasons, but only for their own advantage cynicism n. • cynicalattitude • 愤世嫉俗主义 Company Logo

33. avarice n. greed for wealth or gain Examples Avarice makes rich people want to become even richer. Company Logo

34. skepticism n. doubting state of mind skeptical adj. skeptical of/about sth — unwilling to believe sth e.g. I ‘m rather skeptical about their professed sympathy for the poor. Company Logo

35. downright adj. • thorough, complete • frank, straightforward Examples a downright lie, downright stupidity Company Logo

36. villainy n. wickedness Examples capable of great villainy/villainies Company Logo

37. portrayal n. • action of portraying • description or representation Examples 1. a skillful portrayal of a lonely and embittered old man Company Logo

38. protagonist n. • chief character in a drama; hero • leader or advocate of a cause Examples 1. an outspoken protagonist of electoral reform 2. a leading protagonist of the women’s movement Company Logo

39. benign adj. • (of people or actions) kindly; gentle • mild; pleasant • (of a tumor, etc) not likely to spread or recur after treatment; not dangerous Company Logo

40. icon n. sacred person, someone famous who is admired by many people and is thought to represent an important idea Examples a 60s cultural icon Company Logo

41. guru n. expert, someone who knows a lot about a particular subject, and gives advice to other people Examples a management guru, a fashion guru Company Logo

42. derail v. • if a train derails or sth derails it, it goes off the tracks • to spoil or interrupt a plan, agreement etc Examples a mistake that might derail the negotiations Company Logo

43. quip n. witty or sarcastic remark Examples He ended his speech with a merry quip. Company Logo

44. charitable adj. charitable (to/towards sb.) —generous in giving money, food, etc to poor people Examples a charitable institution, organization, body, etc. Company Logo

45. conscience n. the part of your mind that tells you whether what you are doing is morally right or wrong Examples I can’t tell you what to do– it’s a matter of conscience (something that you must make a moral judgment about.) Company Logo

46. more to learn constrain v. constrain sb from doing sth — to stop someone from doing what they want to do Examples Financial factors should not constrain doctors from prescribing the best treatment for patients. Company Logo

47. constrained adj. feel constrained to do sth — to feel that you must do sth. Examples He felt constrained to accept the invitation. Company Logo

48. decent adj. proper, acceptable Examples • We must provide decent housing for the poor. • The hospital has no decent equipment. • He’s done the decent thing and resigned. Company Logo

49. taint v. • if sth bad taints a situation or person, it makes the person or situation seem bad • to damage something by adding an unwanted substance to it Examples • Baker argues that his trial was tainted by negative publicity. • The water had been tainted with a deadly toxin. Company Logo

50. upstanding adj. • honest and responsible • standing upright or pointing upwards Examples upstanding young men and women Company Logo