学术英语 综合 第二单元

1、学术英语,Academic English,Unit 2,Business Ethics,Text A,Striking the Right Balance,Free enterprise,Free enterprise refers to the system of business in,which individuals are free to decide what to produce,how to produce it, and at what price to sell it,自由企业制度，就是确保企业能够拥有在产权受法律保护的基础上所,享有的自由创业权、自由经营权、自由交易权以

2、及自由支配或处置财,产权等一系列的制度安排。它包括产权制度、进入退出制度、公平竞,争制度、平等合约制度、平等交易制度以及平等获取信息服务制度等,Unit 2,Business,Ethics,Text A,Background information,Do you agree or not,Profit maximization is the right goal for,a business,Adam Smith,2016,年,3,15,晚会：共筑消费新生态,曝光,饿了么”惊现黑心作坊,看完你还会饿,么,曝光】制造用废钢料,这样的假牙你敢戴吗,权威发布】跨境电商进口儿童用品超三成不合,格,消费

3、预警】你买的人参可能一半是白糖,Balance profit and business ethics,6,Business Ethics,Business ethics means written and unwritten codes of moral standards,that are critical to the current activities and future aspirations of a,business organization. They can differ from one company to another,because of differences

4、in cultural perspectives, operational structures,and strategic orientations. The guiding framework of business ethics,exists all levels of the organization. It is about having the wisdom to,determine the difference between right actions and wrong decisions,In simpler terms, business ethics provides

5、the morality standards and,behavioral patterns expected of individuals and the business as a,whole. These moral standards can be perceived in terms of the,microenvironment and macro environment of the business,Stakeholder,VS,Shareholder,There are two schools of thought regarding how,companies should

6、 approach a definition for business,ethics: the shareholder perspective and the stakeholder,perspective,Stakeholder,VS,Shareholder,Shareholder Perspective,Those who approach ethical decision making from a,shareholder perspective focus on making decisions that,are in the owners best interest. Decisio

7、ns are guided by,a need to maximize return on investment for the,organizations shareholders. Individuals who approach,ethics from this perspective feel that ethical business,practices are ones that make the most money,Stakeholder,VS,Shareholder,Stakeholder Perspective,The phrase,corporate social res

8、ponsibility,is often used in,discussions of business ethics. The idea behind this concept is the,belief that companies should consider the needs and interests of,multiple stakeholder groups, not just those with a direct financial,stake in the organizations profits and losses,Organizations that appro

9、ach business ethics from a stakeholder,perspective consider how decisions impact those inside and,outside the organization. Stakeholders may include: employees,suppliers, customers, competitors, government agencies, the news,media, community residents and others. The idea behind,stakeholder based et

10、hical decision making is to make sound,business decisions that work for the good of all affected parties,Importance of Ethical Business Decisions,Companies and people who behave in a socially,responsible manner are much more likely to enjoy,ultimate success than those whose actions are motivated,sol

11、ely by profits. Knowing the difference between right,and wrong and choosing what is right is the foundation,for ethical decision making. In many cases, doing the right,thing often leads to the greatest financial, social, and,personal rewards in the long run,11,Corporate Social Responsibility,Definit

12、ions,Corporate social responsibility (CSR) is about,how companies manage the business processes,to produce an overall positive impact on society,Corporate social responsibility (CSR) refers to a,business practice that involves participating in,activities that benefit society,12,Pyramid of Social Res

13、ponsibility,Carroll 1991,Text A Striking the Right Balance,Para 1,In 1776, Adam Smith described how an “invisible,hand” guides companies as they strive for profits,and that hand leads them to decisions that,benefit society. Smiths,insights,led him to,conclude that profit maximization is the right,go

14、al for a business and that the,free enterprise,system,is best for society,Text A Striking the Right Balance,But the world has changed since 1776. Firms today,are much larger, they operated globally, they have,thousands of employees, and they are owned by,millions of stockholders. This make us wonder

15、 if the,invisible hand” still provides reliable guidance,Should companies still try to maximize profits, or,should they take broader view and take more,balanced actions designed to benefit customers,employees, suppliers, and society as a whole,Para 2,Most academics today,subscribe to,the following,m

16、odified,version of Adam Smiths theory,A firms,principal,goal should be to maximize the,wealth of its stockholders, which means,maximizing the value of its stocks,Para 2,Free enterprise is still the best economic system for,the country as a whole. Under the free enterprise,framework,companies develop

17、 products and,services that people want and that benefit society,However, some,constraints,are needed,firms,should not be allowed to pollute the air and water,to engage in unfair employment practices, or to,create,monopolies,that,exploit,consumers,Para 3,These constraints take a number of different

18、forms,Through the,political process,society,imposes,a,wide range of regulations that are,designed,to,keep,companies from,engaging in practices that hurt,society,Another set of constraints are the costs that,are assessed on companies if they take actions that,harm society,Properly imposed, these cost

19、s fairly,transfer value to suffering parties and help create,incentives that help prevent similar events from,occurring in the future,Para 3,Two recent examples,dramatically illustrate,these,points. First, many Wall Street firms engaged in,extremely risky activities that pushed the financial,system

20、to the,brink of collapse,in 2007 and 2008,Saving the financial system required a,bailout,of,banks and other financial companies, and that,bailout imposed huge costs on,the taxpayers,and,also helped push the economy into a,deep,recession,Para 3,Apart from the huge costs imposed on society,the financi

21、al firms also,paid a heavy price,a,number of leading financial institutions saw a,huge drop in their stock price, some failed and,went out of business, and many Wall Street,executives lost their jobs. More recently, in 2010,the,massive BP oil spill,in the Gulf of Mexico had,a terrible environmental

22、and economic impact of,the Gulf region,Para 3,In the three months following the,initial,explosion,BPs stock lost half of its value, and no,one knew how high its total cost would be and,whether the company would survive. The spill,has also led the United States and other nations,to,re-examine,their p

23、olicies regarding,deep,water drilling,and that might,have a serious,adverse effect,on long-run oil supplies,CREDIT CRISIS,background,US Federal Reserve lower the interest rates to,only % after 911,Investor: low return for 1,Bank: borrow money from Fed for 1%, cheap,credit,低息贷款, go crazy with leverag

24、e, earn,lots of money,Then investors of Wall Street also wants to earn,more money,Leverage is borrow money to amplify the outcome of a deal,10,000,How did that happen,House,buyers,Investors,Wall,street,How did it work,mortgage,Bad result,sub-prime mortgage crisis,End,Para 4,Still, some argue that th

25、e costs imposed on BP are,insufficient,to cover the damages that were,incurred,and,that the theory of constrained profit,maximization is inadequate,For example, GE Chief,Executive Officer (CEO) Jeffrey Immelt believes that,just obeying the law is not enough, and that,companies should strive to behav

26、e ethically and,continually,operate with societys interests in mind,Para 4,Immelt further argues that value and reputation,go hand in hand, and,that having a good,reputation with customers, suppliers, employees,and regulators is essential if value is to be,maximized,In his words, “The reason people,

27、come to work for GE is that they want to be part,of something bigger than themselves,Para 4,They want to work hard, win promotions, and be,well-compensated,but they also want to work,for a company that makes a difference, a,company thats,doing great things in the world,its up to GE be to a good citi

28、zen. Not only is that,a nice thing to do, but its good for business and,thus the price of our stock.,Para 5,GE is not alone. An increasing number of companies see,their mission as more than just making money for their,shareholders. Googles well,know,corporate motto,is,Dont Be Evil.” Consistent with

29、this mission, the,company has its own,in-house foundation,that has,made large investments in a wide range of,philanthropic,ventures worldwide,There are other instances where,corporate leaders have,donated,personal funds,Para 6,In 2008, Microsoft Corporations Bill Gates gave a,speech to the world Eco

30、nomic Forum in which he,made the case for a “creative capitalism”. Gates,stated that, “such a system would have a twin,mission: making profits and also improving lives,for those who dont fully benefit from market,forces.,Para 7,Gates has certainly been true to his word. In,2000, he and his wife esta

31、blished the Bill ,Melinda Gates Foundation. Today the fund has,assets,totaling $33.5 billion. It received a notable,boost,in 2006 when,famed investor Warren,Buffett,announced that he would donate a huge,share of his fortune to the Foundation,Para 7,To date, Buffett has contributed more than $6,billi

32、on, and over time he is scheduled to,contribute additional stock that is now worth in,excess of $40 billion,These efforts show that,there is more to life than money, but it often,takes money to do good things,Bill Gates was born on,Oct, 28 in 1955 and,grew up in Seattle with,his two sisters. His,fat

33、her was a lawyer and,his mother was a teacher,Bill Gates had his,elementary school and,high school education is,Seattle,Bill Gates,And it was during that time Bill founded that his,interests lying in writing programs and began to write,programs at 13,In 1973, Bill Gates was,admitted by Harvard but h

34、e,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,Bill Gates married Melinda French,Gates on January, 1st in 1994.They,have three children .In the spare time,Bill has

35、passion in reading books and,playing golf,Warren Buffett Life,His financial career began at the age of,14,At 26, he set up his first investment,partnership for family and friends with,174,000,At the end of 2008, his personal,fortune was $60billion and Berkshire,Hathaway, his holding company, was,val

36、ued at $200million,Buffett loves charity, preparing to,contribute $37 billion , accounting for,85% of his property,words for his son,His son doesnt follow in his footsteps, but,keeps the faith of Warren Buffett, that is,Enjoying what you are doing everyday is a true,success. Earning a lot of money m

37、ay make you,rich ,but that means seeking a meaningless,life by sacrificing your happiness. That may be,stupid,Text A Overview,Critical,reading,and,thinking,1,Scan,Text,A,and,completing,the,following,table,The,original,version,The,modified,version,The,invisible,hands,guides,companies,to,strive,for,pr

38、ofits,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,constraints,are,needed,for,firms,Unit 2,

39、Business,Ethics,Exercise 2,Argument 1,1) a wide range of regulations are imposed,2) assessing costs on companies; BP oil spill,Argument 2,1) behave ethically; value and reputation,2) Dont be Evil,3) creative capitalism,4) contributed more than $6 billion,Language building up,Task 1-1,1,无形的手,2,自由企业制度

40、,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,Language building up,10. stock price,11. mission,12. corporate motto,13. assets,14. maximize profits,15. financial system,Language building up,Task 1-2,1. When politicians and economists talk about,market,force,they mean the economic factors that affe

41、ct the,availability of goods and the demands for them, without,any help from or control by the government,2. The dramatic change in business environment makes,all industries face drastic completion. This is also,happened in the,financial institutions,Language building up,Task 1-2,3. A,free enterpris

42、e system,can be contrasted with a,socialist economic system, which depends heavily on,government planning and public ownership of the means,of production,4. The oil price increases pushed the European economy,into,deep recession,Language building up,Task 1-2,5. Adam Smiths famous,invisible hand,theo

43、ry has,been modified to cater to the current economic situation,6. An individual or organization that owns stocks in a,corporation can be called,stockholder,Language building up,Task 1-2,7. In economics,profit maximization,is the short-run,or long-run process by which a firm determines the price,and

44、 output level that returns the greatest profit,8. A socialist market,economic system,has now taken,shape, and the basic role played by the market has been,improved in the sphere of resource allocation,Language building up,Task 2 -Signpost language,1. and,2. Another,3. also,4. Not only, but,5. other,

45、Language building up,Task 3,formal English,1. Smiths,insights,led him to conclude that profit,maximization is the right goal for a business and that the,free enterprise system is best for society,understanding,2. Most academics today,subscribe to,the following,modified version of Adam Smiths theory,

46、agree with,Language building up,Task 3,formal English,3. Through the political process, society,imposes,a wide,range of regulations that are designed to keep,companies from engaging in practices that hurt society,forces to be accepted,4. and that might have a serious,adverse,effect on,long-run oil s

47、upplies,bad,Language building up,Task 3,formal English,5. An increasing number of companies see their,mission,as more than just making money for their shareholders,purpose,6. Consistent with this mission, the company has its own,in-house foundation that has made large investments in,a wide range of,

48、philanthropic,ventures worldwide,charitable,Language building up,Task 3,formal English,7. There are other instances where corporate leaders,have,donated,personal funds,given,8. It received a notable boost in 2006 when,famed,investor Warren Buffett announced that he would,donate a huge share of his f

49、ortune to the Foundation,famous,Text B Two views of social responsibility,Para 1,Government regulation and public awareness are,external forces,that have increased the social,responsibility of business. But business decisions are,made within the firm,and there,social responsibility,begins with the a

50、ttitude of management,Two,contrasting philosophies, or models, define the range of,management attitudes toward social responsibility,Para 2,The economic model,According to the traditional concept of business, a firm,exists to produce quality goods and services, earn a,reasonable profit and provide j

51、obs,In line with,this concept,the economic model of social responsibility,holds that,society will benefit more when business is left alone to,produce and market,profitable products that society needs,The economic model,has its origins in,the 18th century,when businesses were owned primarily by,entre

52、preneurs or,owner-managers,Competition was,vigorous,among small,firms, and,short-run profits and survival,were the primary,concerns,Para 3,To the manager who adopts this traditional attitude, social,responsibility is someone elses job. After all, stockholders,invest in a corporation to earn a return

53、 on their investment,not because the firm is socially responsible and the firm is,legally,obligated,to act in the economic interest of its,stockholders. Moreover, profitable firms pay federal, state,and local taxes that are used to meet the needs of society,Thus, managers who,concentrate on,profit b

54、elieve that they,fulfill their social responsibility indirectly through taxes paid,by their firms. As a result, social responsibility becomes the,problem of government, various environmental groups,charitable,foundations, and similar organizations,Para 4,The socioeconomic model,In contrast, some man

55、agers believe they have the,responsibility not only to stockholders, but also to,customers, employees, suppliers, and the general public,This broader view,is referred to as,the socioeconomic,model of social responsibility, which,places emphasis,not,only,on,profits but also on the,impact of,business,

56、decisions,on,society,Para 5,Recently, increasing numbers of managers and firms,have adopted the socioeconomic model and they have,done so for at least three reasons. First, business is,dominated,by the,corporate form of ownership,and the,corporation is a creation of society. If a corporation does,no

57、t perform as a good citizen, society can and will,demand changes. Second, many firms are beginning to,take pride in,their social responsibility records, among,them Starbucks Coffee, Hewlett-Packard, Colgate,Palmolive, and Coca-Cola,Para 5,Each of these companies is a winner of a,Corporate,Conscience

58、 Award,in the areas of environmental concern,responsiveness to employees, equal opportunity, and,community involvement. And of course, many other,corporations are much more socially responsible today,than they were 10 years ago. Third, many business,people believe it is in their best interest to,tak

59、e the,initiative in,this area. The,alternative,may be,legal action,brought against the firm by some special interest group,in such a situation, the firm may lose control of its,activities,Para 6,The,pros and cons,of social responsibility,Business owners, managers, customers, and government,officials

60、 have debated the pros and cons of the economic,and socioeconomic models for years. Each side seems to,have four major arguments to reinforce its viewpoint,Para 7,Arguments for increased social responsibility,Proponents of the socioeconomic model maintain that a business,must be more than simply see