1. Display a systematic understanding of the three main Business Ethics theories (Deontology, Utilitarianism and Virtue Ethics)
2. Demonstrate a critical understanding of the purpose of business, reflecting the different approaches (Shareholder Value Maximization and Stakeholder theory)
3. Apply a range of appropriate ethical theories to analyze ethical issues in business decisions
4. Give evidence of an in-depth ethical analysis of one particular business decision by completion of a Group project
5. Identify and analyze the ethical issues that arise in other IÉSEG courses and student projects
The course introduces the main concepts of business ethics and their relevance for managerial decision-making. It provides a methodology for the identification, analysis and resolution of ethical dilemmas in business-related decisions. Business Ethics – and in particular Stakeholder Theory – offers a critical view on the purpose of business, traditionally seen as “to maximize shareholder value”. Students will discuss critical approaches on the purpose of business coming from strategy, economic theory and corporate law. They will also be invited to reflect on the role of business schools to educate future managers and entrepreneurs .
Students will discuss the main Normative ethical theories (deontology, utilitarianism and virtue ethics), which are prescriptive theories (indicating us what is the action that we ought to do, and explore their meaning for today’s strategic management. Then, they will examine the role of Descriptive ethical theories, which are empirically based explanations of human behavior – what human beings really do.
