Value with Ethical Behavior and Good Corporate Governance
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I'm analyzing the popular business ethics case of Kenneth Lay of Enron.
Please provide an analysis of the case as follows:
provide a discussion of the case relying on the classical business ethics approaches, including:
•Deontology (norms): Ethics of rights, of justice;
•Axiology (values): Ethics of values, care;
•Teleology (results): Utilitarianism etc.
provide a discussion of this case using the following Corporate Social Responsibility approaches:
•Normative CSR: Critical Theory, Corporate Governance, Controls;
•Values based CSR: Stakeholder Theory, Corporate Citizenship, Corporate Social Performance;
•Results CSR: Shareholder Value Theory
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Solution Summary
This response analyses the case of Kenneth Lay of Enron from different ethical perspectives like Deontology, Axiology, and Teleology. Further, this case is discussed from the perspective of different CSR approaches like normative CSR.
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It is being analysed that inefficient culture in Enron is directly related to unethical behaviour of management. Normative theory is the basis of corporate governance and its control measures. Normative theory focuses on what the people ought to be or should do. This leads to availing the knowledge of various other ethical alternatives. The circumstances which contributed towards fall of Enron can be evaluated by using Deontology, Axiology and Teleology which focuses on ethical norms and values (Mitchell and Yordy, 2010). Normative theory states that the corporate social responsibility should be according to particular situation and should not be in accordance with any standards laid down.
Teleological theories are also called as guide for ethics of rights and justice based steps which focus towards attainment of desired results. These results are evaluated on the basis of direct or indirect benefits and harms caused to the society. Teleological theory is further divided into Ethical egoism and Utilitarianism. Ethical egoism states benefits in respect to self perspective but not involving intentional impairment to society (Nguyen, 2014). On contrary to this ...
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