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1、学术英语-综合-第二单元College EnglishUnit2BusinessEthicsTextAStrikingtheRightBalanceCollege EnglishCollege EnglishCollege EnglishCollege EnglishBusiness EthicsBusinessethicsmeanswrittenandunwrittencodesofmoralstandardsthatarecriticaltothecurrentactivitiesandfutureaspirationsofabusinessorganization.Theycandiff
2、erfromonecompanytoanotherbecauseofdifferencesinculturalperspectives,operationalstructuresandstrategicorientations.Theguidingframeworkofbusinessethicsexistsalllevelsoftheorganization.Itisabouthavingthewisdomtodeterminethedifferencebetweenrightactionsandwrongdecisions.Insimplerterms,businessethicsprov
3、idesthemoralitystandardsandbehavioralpatternsexpectedofindividualsandthebusinessasawhole.Thesemoralstandardscanbeperceivedintermsofthemicroenvironmentandmacroenvironmentofthebusiness.6College EnglishStakeholderVSShareholderTherearetwoschoolsofthoughtregardinghowcompaniesshouldapproachadefinitionforb
4、usinessethics:theshareholderperspectiveandthestakeholderperspective.College EnglishStakeholderVSShareholderShareholderPerspectiveThosewhoapproachethicaldecisionmakingfromashareholderperspectivefocusonmakingdecisionsthatareintheownersbestinterest.Decisionsareguidedbyaneedtomaximizereturnoninvestmentf
5、ortheorganizationsshareholders.Individualswhoapproachethicsfromthisperspectivefeelthatethicalbusinesspracticesareonesthatmakethemostmoney.College EnglishStakeholderVSShareholderStakeholder PerspectiveThephrasecorporate social responsibilityisoftenusedindiscussionsofbusinessethics.Theideabehindthisco
6、nceptisthebeliefthatcompaniesshouldconsidertheneedsandinterestsofmultiplestakeholdergroups,notjustthosewithadirectfinancialstakeintheorganizationsprofitsandlosses.Organizationsthatapproachbusinessethicsfromastakeholderperspectiveconsiderhowdecisionsimpactthoseinsideandoutsidetheorganization.Stakehol
7、dersmayinclude:employees,suppliers,customers,competitors,governmentagencies,thenewsmedia,communityresidentsandothers.Theideabehindstakeholderbasedethicaldecisionmakingistomakesoundbusinessdecisionsthatworkforthegoodofallaffectedparties.College EnglishImportanceofEthicalBusinessDecisionsCompaniesandp
8、eoplewhobehaveinasociallyresponsiblemanneraremuchmorelikelytoenjoyultimatesuccessthanthosewhoseactionsaremotivatedsolelybyprofits.Knowingthedifferencebetweenrightandwrongandchoosingwhatisrightisthefoundationforethicaldecisionmaking.Inmanycases,doingtherightthingoftenleadstothegreatestfinancial,socia
9、l,andpersonalrewardsinthelongrun.College EnglishCorporate Social ResponsibilityDefinitionsCorporatesocialresponsibility(CSR)isabouthowcompaniesmanagethebusinessprocessestoproduceanoverallpositiveimpactonsocietyCorporatesocialresponsibility(CSR)referstoabusinesspracticethatinvolvesparticipatinginacti
10、vitiesthatbenefitsociety.11College EnglishPyramid of Social Responsibility(Carroll1991)12College EnglishText A Striking the Right BalancePara1In1776,AdamSmithdescribedhowan“invisiblehand”guidescompaniesastheystriveforprofits,andthathandleadsthemtodecisionsthatbenefitsociety.Smithsinsightsledhimtocon
11、cludethatprofitmaximizationistherightgoalforabusinessandthatthefreeenterprisesystemisbestforsociety.College EnglishText A Striking the Right BalanceButtheworldhaschangedsince1776.Firmstodayaremuchlarger,theyoperatedglobally,theyhavethousandsofemployees,andtheyareownedbymillionsofstockholders.Thismak
12、euswonderifthe“invisiblehand”stillprovidesreliableguidance.Shouldcompaniesstilltrytomaximizeprofits,orshouldtheytakebroaderviewandtakemorebalancedactionsdesignedtobenefitcustomers,employees,suppliers,andsocietyasawhole?College EnglishPara 2MostacademicstodaysubscribetothefollowingmodifiedversionofAd
13、amSmithstheory:Afirmsprincipalgoalshouldbetomaximizethewealthofitsstockholders,whichmeansmaximizingthevalueofitsstocks.College EnglishPara 2Freeenterpriseisstillthebesteconomicsystemforthecountryasawhole.Underthefreeenterpriseframework,companiesdevelopproductsandservicesthatpeoplewantandthatbenefits
14、ociety.However,someconstraintsareneeded-firmsshouldnotbeallowedtopollutetheairandwater,toengageinunfairemploymentpractices,ortocreatemonopoliesthatexploitconsumers.College EnglishPara 3Theseconstraintstakeanumberofdifferentforms.Throughthepoliticalprocess,societyimposesawiderangeofregulationsthatare
15、designedtokeepcompaniesfromengaginginpracticesthathurtsociety.Anothersetofconstraintsarethecoststhatareassessedoncompaniesiftheytakeactionsthatharmsociety.Properlyimposed,thesecostsfairlytransfervaluetosufferingpartiesandhelpcreateincentivesthathelppreventsimilareventsfromoccurringinthefuture.Colleg
16、e EnglishPara 3Tworecentexamplesdramaticallyillustratethesepoints.First,manyWallStreetfirmsengagedinextremelyriskyactivitiesthatpushedthefinancialsystemtothebrinkofcollapsein2007and2008.Savingthefinancialsystemrequiredabailoutofbanksandotherfinancialcompanies,andthatbailoutimposedhugecostsonthetaxpa
17、yers,andalsohelpedpushtheeconomyintoadeeprecession.College EnglishPara 3Apartfromthehugecostsimposedonsociety,thefinancialfirmsalsopaidaheavyprice-anumberofleadingfinancialinstitutionssawahugedropintheirstockprice,somefailedandwentoutofbusiness,andmanyWallStreetexecutiveslosttheirjobs.Morerecently,i
18、n2010,themassiveBPoilspillintheGulfofMexicohadaterribleenvironmentalandeconomicimpactoftheGulfregion.College EnglishPara 3Inthethreemonthsfollowingtheinitialexplosion,BPsstocklosthalfofitsvalue,andnooneknewhowhighitstotalcostwouldbeandwhetherthecompanywouldsurvive.ThespillhasalsoledtheUnitedStatesan
19、dothernationstore-examinetheirpoliciesregardingdeep-waterdrilling,andthatmighthaveaseriousadverseeffectonlong-runoilsupplies.College EnglishCREDIT CRISISCollege EnglishbackgroundUSFederalReservelowertheinterestratestoonly%after911.Investor:lowreturnfor1%,Bank:borrowmoneyfromFedfor1%,cheapcredit(低息贷款
20、),gocrazywithleverage,earnlotsofmoney,TheninvestorsofWallStreetalsowantstoearnmoremoney.College EnglishLeverage is borrow money to amplify the outcome of a deal$10,000College EnglishHow did that happen?HousebuyersInvestorsWallstreetCollege EnglishHow did it work?mortgageCollege EnglishBad result sub
21、-prime mortgage crisis College EnglishEndCollege EnglishPara 4Still,somearguethatthecostsimposedonBPareinsufficienttocoverthedamagesthatwereincurred,andthatthetheoryofconstrainedprofitmaximizationisinadequate.Forexample,GEChiefExecutiveOfficer(CEO)JeffreyImmeltbelievesthatjustobeyingthelawisnotenoug
22、h,andthatcompaniesshouldstrivetobehaveethicallyandcontinuallyoperatewithsocietysinterestsinmind.College EnglishPara 4Immeltfurtherarguesthatvalueandreputationgohandinhand,andthathavingagoodreputationwithcustomers,suppliers,employeesandregulatorsisessentialifvalueistobemaximized.Inhiswords,“Thereason
23、peoplecometoworkforGEisthattheywanttobepartofsomethingbiggerthanthemselves.College EnglishPara 4Theywanttoworkhard,winpromotions,andbewell-compensated,buttheyalsowanttoworkforacompanythatmakesadifference,acompanythatsdoinggreatthingsintheworlditsuptoGEbetoagoodcitizen.Notonlyisthatanicethingtodo,but
24、itsgoodforbusinessandthusthepriceofourstock.”College EnglishPara 5GEisnotalone.Anincreasingnumberofcompaniesseetheirmissionasmorethanjustmakingmoneyfortheirshareholders.Googleswell-knowcorporatemottois“DontBeEvil.”Consistentwiththismission,thecompanyhasitsownin-housefoundationthathasmadelargeinvestm
25、entsinawiderangeofphilanthropicventuresworldwide.Thereareotherinstanceswherecorporateleadershavedonatedpersonalfunds.College EnglishPara 6In2008,MicrosoftCorporationsBillGatesgaveaspeechtotheworldEconomicForuminwhichhemadethecasefora“creativecapitalism”.Gatesstatedthat,“suchasystemwouldhaveatwinmiss
26、ion:makingprofitsandalsoimprovinglivesforthosewhodontfullybenefitfrommarketforces.”College EnglishPara 7Gateshascertainlybeentruetohisword.In2000,heandhiswifeestablishedtheBill&MelindaGatesFoundation.Todaythefundhasassetstotaling$33.5billion.Itreceivedanotableboostin2006whenfamedinvestorWarrenBuffet
27、tannouncedthathewoulddonateahugeshareofhisfortunetotheFoundation.College EnglishPara 7Todate,Buffetthascontributedmorethan$6billion,andovertimeheisscheduledtocontributeadditionalstockthatisnowworthinexcessof$40billion.Theseeffortsshowthatthereismoretolifethanmoney,butitoftentakesmoneytodogoodthings.
28、College EnglishBill Gates was born on Oct,28 in 1955 and grew up in Seattle with his two sisters.His father was a lawyer and his mother was a teacher.Bill Gates had his elementary school and high school education is Seattle.BillGatesCollege EnglishAnditwasduringthattimeBillfoundedthathisinterestslyi
29、nginwritingprogramsandbegantowriteprogramsat13.College EnglishIn 1973,Bill Gates was admitted by Harvard but he quitted from Harvard three years later.He put all his time and energy into designing programs for Microsoft Cooperation which established in 1975 by Bill and his friend Paul Allen.College
30、EnglishBillGatesmarriedMelindaFrenchGatesonJanuary,1stin1994.Theyhavethreechildren.Inthesparetime,Billhaspassioninreadingbooksandplayinggolf.College EnglishWarren Buffett LifeuHisfinancialcareerbeganattheageof14.uAt26,hesetuphisfirstinvestmentpartnershipforfamilyandfriendswith$174,000.uAttheendof200
31、8,hispersonalfortunewas$60billionandBerkshireHathaway,hisholdingcompany,wasvaluedat$200million.uBuffettlovescharity,preparingtocontribute$37billion,accountingfor85%ofhisproperty.College Englishwords for his sonHissondoesntfollowinhisfootsteps,butkeepsthefaithofWarrenBuffett,thatis:Enjoyingwhatyouare
32、doingeverydayisatruesuccess.Earningalotofmoneymaymakeyourich,butthatmeansseekingameaninglesslifebysacrificingyourhappiness.Thatmaybestupid.College EnglishText A OverviewCritical reading and thinking1.Scan Text A and completing the following table.The original version The modified versionThe invisibl
33、e hands guides companies to strive for profits.Profit maximization is the right goal for a business.Free enterprise system is best for society.A firms principal goal should be to maximize the wealth of its stockholders.Free enterprise is still the best economic system for the country as a whole.Some
34、 constraints are needed for firms.Unit 2Business EthicsCollege EnglishExercise 2Argument11)awiderangeofregulationsareimposed2)assessingcostsoncompanies;BPoilspillArgument21)behaveethically;valueandreputation2)DontbeEvil3)creativecapitalism4)contributedmorethan$6billionCollege EnglishLanguage buildin
35、g upTask1-11.无形的手2.自由企业制度3.股东4.经济体制5.开发产品和服务6.市场力量7.金融机构8.严重衰退9.破产College EnglishLanguage building up10.stockprice11.mission12.corporatemotto13.assets14.maximizeprofits15.financialsystemCollege EnglishLanguage building upTask 1-2 1.Whenpoliticiansandeconomiststalkabout【market force】,theymeantheecono
36、micfactorsthataffecttheavailabilityofgoodsandthedemandsforthem,withoutanyhelpfromorcontrolbythegovernment.2.Thedramaticchangeinbusinessenvironmentmakesallindustriesfacedrasticcompletion.Thisisalsohappenedinthe【financial institutions】.College EnglishLanguage building upTask 1-2 3.A【free enterprise sy
37、stem】canbecontrastedwithasocialisteconomicsystem,whichdependsheavilyongovernmentplanningandpublicownershipofthemeansofproduction.4.TheoilpriceincreasespushedtheEuropeaneconomyinto【deep recession】.College EnglishLanguage building upTask 1-2 5.AdamSmithsfamous【invisible hand】theoryhasbeenmodifiedtocat
38、ertothecurrenteconomicsituation.6.Anindividualororganizationthatownsstocksinacorporationcanbecalled【stockholder】.College EnglishLanguage building upTask 1-2 7.Ineconomics,【profit maximization】istheshort-runorlong-runprocessbywhichafirmdeterminesthepriceandoutputlevelthatreturnsthegreatestprofit.8.As
39、ocialistmarket【economic system】hasnowtakenshape,andthebasicroleplayedbythemarkethasbeenimprovedinthesphereofresourceallocation.College EnglishLanguage building upTask2-Signpostlanguage1.and2.Another3.also4.Notonly,but5.otherCollege EnglishLanguage building upTask 3-formal English 1.Smiths insightsle
40、dhimtoconcludethatprofitmaximizationistherightgoalforabusinessandthatthefreeenterprisesystemisbestforsociety.(understanding)2.Mostacademicstodaysubscribe tothefollowingmodifiedversionofAdamSmithstheory.(agree with)College EnglishLanguage building upTask 3-formal English 3.Throughthepoliticalprocess,
41、societyimposes awiderangeofregulationsthataredesignedtokeepcompaniesfromengaginginpracticesthathurtsociety.(forces to be accepted)4.andthatmighthaveaseriousadverseeffectonlong-runoilsupplies.(bad)College EnglishLanguage building upTask 3-formal English 5.Anincreasingnumberofcompaniesseetheirmissiona
42、smorethanjustmakingmoneyfortheirshareholders.(purpose)6.Consistentwiththismission,thecompanyhasitsownin-housefoundationthathasmadelargeinvestmentsinawiderangeofphilanthropic venturesworldwide.(charitable)College EnglishLanguage building upTask 3-formal English 7.Thereareotherinstanceswherecorporatel
43、eadershavedonatedpersonalfunds.(given)8.Itreceivedanotableboostin2006whenfamedinvestorWarrenBuffettannouncedthathewoulddonateahugeshareofhisfortunetotheFoundation.(famous)College EnglishText B Two views of social responsibility Para1:Governmentregulationandpublicawarenessareexternalforcesthathaveinc
44、reasedthesocialresponsibilityofbusiness.Butbusinessdecisionsaremadewithinthefirmandthere,socialresponsibilitybeginswiththeattitudeofmanagement.Twocontrastingphilosophies,ormodels,definetherangeofmanagementattitudestowardsocialresponsibilityCollege EnglishPara 2The economic modelAccordingtothetraditi
45、onalconceptofbusiness,afirmexiststoproducequalitygoodsandservices,earnareasonableprofitandprovidejobs.Inlinewiththisconcept,theeconomicmodelofsocialresponsibilityholdsthatsocietywillbenefitmorewhenbusinessisleftalonetoproduceandmarketprofitableproductsthatsocietyneeds.Theeconomicmodelhasitsoriginsin
46、the18thcentury,whenbusinesseswereownedprimarilybyentrepreneursorowner-managers.Competitionwasvigorousamongsmallfirms,andshort-runprofitsandsurvivalweretheprimaryconcerns.College EnglishPara 3Tothemanagerwhoadoptsthistraditionalattitude,socialresponsibilityissomeoneelsesjob.Afterall,stockholdersinves
47、tinacorporationtoearnareturnontheirinvestment,notbecausethefirmissociallyresponsibleandthefirmislegallyobligatedtoactintheeconomicinterestofitsstockholders.Moreover,profitablefirmspayfederal,state,andlocaltaxesthatareusedtomeettheneedsofsociety.Thus,managerswhoconcentrateonprofitbelievethattheyfulfi
48、lltheirsocialresponsibilityindirectlythroughtaxespaidbytheirfirms.Asaresult,socialresponsibilitybecomestheproblemofgovernment,variousenvironmentalgroups,charitablefoundations,andsimilarorganizations.College EnglishPara 4The socioeconomic modelIncontrast,somemanagersbelievetheyhavetheresponsibilityno
49、tonlytostockholders,butalsotocustomers,employees,suppliers,andthegeneralpublic.Thisbroaderviewisreferredtoasthesocioeconomicmodelofsocialresponsibility,whichplacesemphasisnotonlyonprofitsbutalsoontheimpactofbusinessdecisionsonsociety.College EnglishPara 5Recently,increasingnumbersofmanagersandfirmsh
50、aveadoptedthesocioeconomicmodelandtheyhavedonesoforatleastthreereasons.First,businessisdominatedbythecorporateformofownershipandthecorporationisacreationofsociety.Ifacorporationdoesnotperformasagoodcitizen,societycanandwilldemandchanges.Second,manyfirmsarebeginningtotakeprideintheirsocialresponsibil