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    Chapter Ten Business's Environmental Responsibilities

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    Zurul
    The document discusses different views on a business's environmental responsibilities. It outlines the classic view of maximizing profit within legal bounds and finding an optimal pollution level. Alternative views argue for allowing human ingenuity to solve problems and for environmental issues to be resolved through democratic processes rather than economics. The document also notes market failures and advocates for businesses to meet a "moral minimum" while recognizing their role in larger ecological systems.

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    Chapter Ten Business's Environmental Responsibilities

    Uploaded by

    Zurul
    12 views11 pages
    The document discusses different views on a business's environmental responsibilities. It outlines the classic view of maximizing profit within legal bounds and finding an optimal pollution level. Alternative views argue for allowing human ingenuity to solve problems and for environmental issues to be resolved through democratic processes rather than economics. The document also notes market failures and advocates for businesses to meet a "moral minimum" while recognizing their role in larger ecological systems.

    Original Description:

    Notes on business ethics in malaysia

    Original Title

    Chapter 10

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    The document discusses different views on a business's environmental responsibilities. It outlines the classic view of maximizing profit within legal bounds and finding an optimal pollution level. Alternative views argue for allowing human ingenuity to solve problems and for environmental issues to be resolved through democratic processes rather than economics. The document also notes market failures and advocates for businesses to meet a "moral minimum" while recognizing their role in larger ecological systems.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    12 views11 pages

    Chapter Ten Business's Environmental Responsibilities

    Uploaded by

    Zurul
    The document discusses different views on a business's environmental responsibilities. It outlines the classic view of maximizing profit within legal bounds and finding an optimal pollution level. Alternative views argue for allowing human ingenuity to solve problems and for environmental issues to be resolved through democratic processes rather than economics. The document also notes market failures and advocates for businesses to meet a "moral minimum" while recognizing their role in larger ecological systems.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 11

    Chapter Ten

    Business’s Environmental
    Responsibilities
    Classic View of Ethics in Business
    Environment
    • Maximize profit within the law
    • Utilitarian
    – Greater overall good of optimally satisfying
    consumer preference
    William Baxter
    • Search for optimal level of pollution that
    would best serve society’s interests.
    – Caveat Emptor (protect consumer safety and allow
    for individual bargaining
    – No perfect “state of health”
    – Allow market to balance risk and benefits
    • Air safe enough to breath water safe to drink without
    costing to much
    Julian Simon
    • Allow for human ingenuity and incentives to work
    • Allow the market to work to balance supply and
    demand for resources
    • Natural objects have no value but that placed on
    them by humans. The term “nature” has no
    normative connotation
    • Preserving biological diversity is appropriate if it
    satisfies more consumer preference than the
    alternative
    Market serves four environmental
    goals
    • Reducing pollution
    • Conserve resources
    • Preserve natural areas
    • Support biological diversity
    Market Failures
    • Cost of such things as pollution are borne by third
    parties
    • No market exists to create a price for important
    social goods (protection of animals versus using
    threatened animals – Rhinoceros, tigers,
    elephants
    • Buying is an individual decision consequences are
    borne by group
    • Market does not respond until there is a major
    screw up
    Mark Sagoff – The Economy of the
    Earth
    • Environmental issues not economic issues
    – Confusion between wants/preferences:
    • What one is willing to pay handled through a cost-
    benefit analysis
    – Beliefs and Values
    • Purely personal and subject
    • Conflict resolved non-rational means
    – Dialog and democratic processes
    • Ignores the individual role of being both a
    consumer and a citizen
    What is business to do?
    • Business needs to meet “Moral minimum”
    • Bowie – cause no harm to humans, obey the
    law and refrain from unduly influencing
    environmental legislation
    – Citizen are free to create laws and exercise
    consumer preference
    Issue with this Rx
    • Underestimate business ability to influence
    law making
    • Underestimates business ability to influence
    consumers
    • Law is a crude tool
    • Models used to deal with corporate social
    responsibility underestimates managerial
    discretion
    • Critical flow model ignores the cost of resources
    and waste generation
    • Daly’s model
    – Recognizes business is part of a subsystem with
    Earth’s biosphere
    – Recommends long-term consumption of resouces
    – Manage waste
    – Manage energy and recognize the losses we are now
    generating
    – Limit grow using a biophysical perspective
    Pillars of Sustainable Development
    • Economically, environmentally and socially satisfactory
    • Meet the needs of those future generations
    • Meet the needs of those who lack food, water, and
    other necessities
    • Hawken, Lovins – Natural Capitalism
    – Productivity of natural resources
    – Redesign to utilize a model biological process (cradle to
    grave
    – Model business as a provider of services (light, floor
    covering)
    – Invest in natural captial

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