Cobalt Ethical Issue
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Transcript of Cobalt Ethical Issue
Ethical Issues in Globalization:Analyzing the Cobalt – Nazaki “deal” through the Ethical Lens By : Miguel Vemba
On Globalization
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“ the process by which experience of everyday life, marked by diffusion of commodities and ideas, can foster standardization of cultural expressions around the world” _ (Britannica Online)
What happens when standardization is hampered by mutually exclusive values?
The Ethical Dilemma
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Cobalt's shares soared 37 percent after the company said it found hydrocarbons in the Cameia-1 well.
Cobalt acquires a 40 percent
stake in Block 21 in
partnership with state-owned
Sonangol and local companies
Nazaki Oil and Alper Oil.
Angola officials, who
brokered the deal, held hidden
oil stakes
The Ethical Issue
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Cobalt interests “might not have
complied with US anti-corruption
laws”
Nazaki interests “ respected all
Angolan legislation applicable to such
activities, not having committed any
crime of abuse of power and/or
trafficking of influence to obtain illicit
shareholder advantages”
What should Cobalt do?
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Baird’s Model: Ethical Lens
Kant – Rights/duties focus
An ethical action is doing one’s duty and following ethical standards of action
Results LensUtilitarianism (teleology)
Mill – Goals/ends focus
An ethical action is one where the act creates the greatest good for the greatest number
Character focus – MacIntyre
An ethical action is one that is consistent with a good character
Systems focus – Rawls
An ethical action is one that will sustain integrity-building environments
Rights and Responsibility
Results
Relationship
Reputation
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[ ] The Bottom Line…
Cobalt practices undermine the “Foreign Corrupt
Practices act of 1977”, which aim to restore public
confidence in the integrity of the American business
system.
However, it is in full compliance with the Angolan Rule of
Law “…In the global atmosphere we all strive for standardization…the
problem is in determining whose standards to adhere to...”_M.Vemba