Michael Novak On Capitalism And The Corporation

This is a revision request. I will upload the original documents and the paper that was written by the writer. I will also upload the professors response. Please make the necessary changes as soon as possible. Thanks… Foundations of Business Ethics: What is the Role of Business in Society? The study of business ethics is not the study of what is legal but of the application of moral standards to business decisions. In defining business ethics, we are really defining the voluntary role of business: how does a business behave when the law does not dictate its conduct or the law permits conduct that might benefit shareholders but is harmful to others? Michael Novak on Capitalism and the Corporation The modern business corporation is an original creation of the American imagination. It was first fashioned to extend local markets; then, it became an indispensable means to create a national market. Both American industrialization and capitalism were crucially dependent upon the corporate form of organization. The corporation was not, however, a disembodied “first cause”; it spread in response to concrete economic challenges. But the corporation had first to become a legal instrument before it could be anything else. While the law dealt amply with the internal affairs of corporations, no internal logic dictated the further development of the corporate form. Corporate law, after all, is not a branch of higher mathematics whose cogency requires a series of more elementary operations. External, primarily economic pressures helped generate the corporation. The combined force of those pressures and the nature of American legal thought determined the eventual shape of the modern business corporation. Using Reading 3.4on pp. 86-89, Michael Novak on Capitalism and the Corporation, answer questions 1-5on p. 89. After reading the document and before answering the questions, initiate your paper with the problem statement; The problem to be investigated is ________________________. Your answers should not simply be your opinion. For each answer to each question, include at least one outside, peer-reviewed article that you can cite as an academic research resource that validates your answer. Your essay should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Essay should include the following: Compare and contrast the approaches of the parties who influence business decision making as it relates to ethics and of those who are influenced by their decisions. Analyze the conflicting objectives of business leaders who influence business decisions. Evaluate the actions that a company may take to meet ethical considerations relative to social performance, financial performance, and reputation. Assess the extent to which social, ethical and public issues must be considered in internal and external stakeholder relationships. Evaluate ethics in an academic setting, especially in regard to academic integrity and the code of conduct. Appraise the consequences for ethics violations.



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