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Corporations
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Overview
Chapter Five examines the following topics:
(1)Corporations as moral agents and individual
responsibility.
(2)The narrow view and the broader view of
corporate responsibility.
(3)Corporate responsibility and the invisible-hand
argument, the let-government-do-it argument, and
the business-can’t-handle-it argument.
(4)Institutionalizing ethics within corporations,
ethical codes, and corporate culture.
Moral Issues in Business
Chapter 1
Introduction
The chapter discusses the application of moral
standards to corporate organizations and the
concept of corporate social responsibility.
Corporations yield awesome economic clout.
The five hundred largest U.S. corporations make
up at three-quarters of the American economy.
The best-run systems employ highly structured
and impersonal management systems.
What are the moral implications of such
systems? Moral Issues in Business
Chapter 1
The Corporation
A corporation is a three-part organization made
up of:
(1) Stockholders, who provide the capital, own the
corporation, and enjoy liability limited to the
amount of their investments.
(2) Managers, who run the business operations.
(3) Employees, who produce the goods and services.