1
Ethics and the Future of
Business
6314M0507Y
General Part Summary
2023
The summary contains:
Summary of the enDre literature and incorporated notes from lectures from the
general part (1-4)
, 2
Table of Contents
Session 1 ............................................................................................................................ 3
Crane (2019) Chapter 3 ...............................................................................................................3
Ethical leadership: Ethics vs. effec;veness (Ciulla 2020) ..............................................................9
Awad (2018): The Moral Machine experiment .......................................................................... 11
TedTalk: Why we shouldn’t trust markets with our civic life ...................................................... 12
Session 2 .......................................................................................................................... 12
Crane (2019) Chapter 4 ............................................................................................................. 13
TEDTalk: How whistle-blowers shape history ............................................................................ 19
Banaji (2003): How Unethical are you?...................................................................................... 21
Smith & Kouchaki (2021): Building an Ethical Company ............................................................. 23
Session 3: ......................................................................................................................... 24
Hoffman (2021): Your Role in Your Own Future ......................................................................... 24
Griskevicius (2012): The Evolu;onary Bases for Sustainable Behaviour: Implica;ons for
Marke;ng, Policy, and Social Entrepreneurship ......................................................................... 25
BSR (2019): Five-Step Approach to Stakeholder Engagement .................................................... 28
Rache (2023): Corporate Sustainability: What It Is and Why It Ma`ers ...................................... 34
Session 4: ......................................................................................................................... 38
Atasu (2021): The Circular Business Model (for manufacturers) ................................................. 38
Korula (2023): Chapter 7: Ecological Approaches to Corporate Sustainability ............................ 41
Joyce (2016): The triple layered business model: canvas: A tool to design more sustainable
business models ....................................................................................................................... 47
IPCC 2021 Climate Change: Synthesis Report ............................................................................. 51
, 3
Session 1
• Ethics: systema+c study of right and wrong
o Level: Individual
o FoundaDons: philosophy, psychology, behavioral economics, leadership
• Responsibility: integra+on of triple bo=om line into companies
o Level: organiza+on
o FoundaDon: management
• Sustainability: human welfare within ecological balance
o Level: society
o FoundaDons: sustainability, poli+cal science, complexity
Crane (2019) Chapter 3
• NormaDve ethical theories: theories that aim to prescribe the morally correct way of
ac+ng, how we ought to behave.
• DescripDve ethics: the morally correct way that is adopted by a par+cular group or a
society, how we actually behave.
, 4
• Ethical absoluDsm: according to this view, right and wrong are objec+ve quali+es
that can be ra+onally determined, irrespec+ve of the circumstances.
• Ethical relaDvism: claims that morality is context-dependent and subjec+ve.
Rela+vists believe that there are no universal rights and wrongs that can be ra+onally
determined. It can also depend on the tradi+ons, convic+ons, or prac+ces of those
making the decision.
• Ethical pluralism: differs from rela+vism and absolu+sm in that it neither puts all
ethical perspec+ves on an equal foo+ng nor favors one approach over others. -> this
is what we should do-> consider all theories and approaches, not just one, and try to
find the sweet spot
• Morality is humans’ ability to dis+nguish between right and wrong.
• Ethics is a systema+c study of morality.
• Ethical theories are principles and rules that determine right and wrong in different
situa+ons.
Most important theories and approaches:
1. Ethical egoism (ethics of self-interest):
• Key idea: An ac+on is morally right if the decision-maker freely decides in order to
pursue either their (short-term) desires or their (long-term) interests.
• Authors: Thomas Hobbes, Adam Smith
• The influence of egoism is related to the percep+on of ideal markets and Adam
Smith’s ‘invisible hand’: ‘ it is not from the benevolence of the butcher, the brewer, or
the baker that we expect our dinner, but from their regard to their own interest’
Ethics and the Future of
Business
6314M0507Y
General Part Summary
2023
The summary contains:
Summary of the enDre literature and incorporated notes from lectures from the
general part (1-4)
, 2
Table of Contents
Session 1 ............................................................................................................................ 3
Crane (2019) Chapter 3 ...............................................................................................................3
Ethical leadership: Ethics vs. effec;veness (Ciulla 2020) ..............................................................9
Awad (2018): The Moral Machine experiment .......................................................................... 11
TedTalk: Why we shouldn’t trust markets with our civic life ...................................................... 12
Session 2 .......................................................................................................................... 12
Crane (2019) Chapter 4 ............................................................................................................. 13
TEDTalk: How whistle-blowers shape history ............................................................................ 19
Banaji (2003): How Unethical are you?...................................................................................... 21
Smith & Kouchaki (2021): Building an Ethical Company ............................................................. 23
Session 3: ......................................................................................................................... 24
Hoffman (2021): Your Role in Your Own Future ......................................................................... 24
Griskevicius (2012): The Evolu;onary Bases for Sustainable Behaviour: Implica;ons for
Marke;ng, Policy, and Social Entrepreneurship ......................................................................... 25
BSR (2019): Five-Step Approach to Stakeholder Engagement .................................................... 28
Rache (2023): Corporate Sustainability: What It Is and Why It Ma`ers ...................................... 34
Session 4: ......................................................................................................................... 38
Atasu (2021): The Circular Business Model (for manufacturers) ................................................. 38
Korula (2023): Chapter 7: Ecological Approaches to Corporate Sustainability ............................ 41
Joyce (2016): The triple layered business model: canvas: A tool to design more sustainable
business models ....................................................................................................................... 47
IPCC 2021 Climate Change: Synthesis Report ............................................................................. 51
, 3
Session 1
• Ethics: systema+c study of right and wrong
o Level: Individual
o FoundaDons: philosophy, psychology, behavioral economics, leadership
• Responsibility: integra+on of triple bo=om line into companies
o Level: organiza+on
o FoundaDon: management
• Sustainability: human welfare within ecological balance
o Level: society
o FoundaDons: sustainability, poli+cal science, complexity
Crane (2019) Chapter 3
• NormaDve ethical theories: theories that aim to prescribe the morally correct way of
ac+ng, how we ought to behave.
• DescripDve ethics: the morally correct way that is adopted by a par+cular group or a
society, how we actually behave.
, 4
• Ethical absoluDsm: according to this view, right and wrong are objec+ve quali+es
that can be ra+onally determined, irrespec+ve of the circumstances.
• Ethical relaDvism: claims that morality is context-dependent and subjec+ve.
Rela+vists believe that there are no universal rights and wrongs that can be ra+onally
determined. It can also depend on the tradi+ons, convic+ons, or prac+ces of those
making the decision.
• Ethical pluralism: differs from rela+vism and absolu+sm in that it neither puts all
ethical perspec+ves on an equal foo+ng nor favors one approach over others. -> this
is what we should do-> consider all theories and approaches, not just one, and try to
find the sweet spot
• Morality is humans’ ability to dis+nguish between right and wrong.
• Ethics is a systema+c study of morality.
• Ethical theories are principles and rules that determine right and wrong in different
situa+ons.
Most important theories and approaches:
1. Ethical egoism (ethics of self-interest):
• Key idea: An ac+on is morally right if the decision-maker freely decides in order to
pursue either their (short-term) desires or their (long-term) interests.
• Authors: Thomas Hobbes, Adam Smith
• The influence of egoism is related to the percep+on of ideal markets and Adam
Smith’s ‘invisible hand’: ‘ it is not from the benevolence of the butcher, the brewer, or
the baker that we expect our dinner, but from their regard to their own interest’
