LES305 KORETZ EXAM 1
Question 1.
KeepingA Order
ANSWER
1. Examples: Traffic laws, criminal laws, trespass laws, property laws
2. Safety − USA Patriot Act
a. Reporting requirements
b. Search warrants
Question 2.
Explain what ethics is
ANSWER
Ethics consists of the unwritten rules we have developed for our interaction with each other.
Question 3.
Divine Command Theory
ANSWER
Ethical standards are based upon religious beliefs
Question 4.
.Ethical Egosim Theory
ANSWER
We all act in our own self-interest and limit our judgments to our own conduct, not the conduct of others.
Question 5.
Utilitarian Theory:
ANSWER
"Greatest happiness principle," or doing the most good for the most people.
Question 6.
Categorical Imperative and Immanuel Kant
ANSWER
One ought only to act such that the principle of one's act could become a universal law of human action in a world in which one would hope to live
Question 7.
Contractarians and Justice
ANSWER
utting ethical standards in place by a social contract. Rational thinking people develop a set of rules for everyone
, Question 8.
Rights Theory
ANSWER
Everyone has a set of rights and it is the role of government to enforce those rights.
Question 9.
Moral Relativists
ANSWER
Time-and-place ethics. Making ethical choices based on the circumstances.
Question 10.
Plato and Aristotle
ANSWER
Develop virtues and determine conduct by those virtues
Question 11.
List the categories of ethical dilemmas
ANSWER
a. Taking things that don't belong to you
b. Saying things you know are not true.
c. Giving or allowing false impressions
d. Buying influence or engaging in conflicts of interest
e. Hiding or divulging information
f. Taking unfair advantage g. Committing acts of personal decadence
h. Perpetrating interpersonal abuse
i. Permitting organizational abuse
j. Violating rules
k. Condoning unethical conduct
l. Balancing ethical dilemmas
Question 12.
Give the ways we avoid facing ethical dilemmas
ANSWER
a. Give examples of different labels. Copyright infringement vs. peer-to-peer file sharing Smoothing earnings vs. cooking the books Lying vs. earnings
management
b. List the rationalizations (1) Everybody else does it (2) If we don't do it, someone else will (3) That's the way it has always been done (4) We'll wait until
the lawyers tell us it's wrong (5) It doesn't really hurt anyone (6) The system is unfair (7) I was just following orders
Question 13.
Peter Drucker
ANSWER
primum non nocere; above all do no harm
, Question 14.
Laura Nash
ANSWER
(1) Have you defined the problem accurately? (2) How would you define the problem if you stood on the other side of the fence? (3) How did this occur in the
first place? (4) To whom and what do you give your loyalties as a person and as a member of the corporation? (5) What is your intention in making this
decision? (6) How does this intention compare with the likely results? (7) Whom could your decision or action injure? (8) Can you engage the affected
parties in a discussion of the problem before you make your decision? (9) Are you confident that your position will be as valid over a long period of time as it
seems now? (10) Could you disclose without qualm your decision or action to your boss, your CEO, the board of directors, your family, or society as a
whole? (11) What is the symbolic potential of your action if understood? If misunderstood? (12) Under what conditions would you allow exceptions to your
stand?
Question 15.
Blanchard and Peale
ANSWER
(1) Is it legal? (2) Is it balanced? (3) How does it make me feel?
Question 16.
Warren Buffett
ANSWER
"Contemplating any business act, an employee should ask himself whether he would be willing to see it immediately described by an informed and critical
reporter on the front page of his local paper, there to be read by his spouse, children, and friends. At Salomon we simply want no part of any activities that
pass legal tests but that we, as citizens, would find offensive."
Question 17.
Wall Street Journal
ANSWER
(1) Am I in compliance with the law? (2) What contribution does this choice of action make to the company, the shareholders, the community, and others?
(3) What are the short-and long-term consequences of this decision?
Question 18.
Categorical Imperative (Kant)
ANSWER
Do unto others are you would have them do unto you.
Question 19.
LIST THE SIX STEPS YOU SHOULD FOLLOW FOR ANALYZING AN ETHICAL DILEMMA
ANSWER
1. Make sure you have a grasp of all of the facts available.
2. List any information you would like to have but don't and what assumptions you would have to make, if any, in resolving the dilemma.. Take each person
involved in the dilemma and list the concerns they face or might have.
4. Develop a list of resolutions for the problem.
5. Evaluate the resolutions for costs, legalities, and impact.
6. Make a recommendation on the actions that should be taken.
Question 1.
KeepingA Order
ANSWER
1. Examples: Traffic laws, criminal laws, trespass laws, property laws
2. Safety − USA Patriot Act
a. Reporting requirements
b. Search warrants
Question 2.
Explain what ethics is
ANSWER
Ethics consists of the unwritten rules we have developed for our interaction with each other.
Question 3.
Divine Command Theory
ANSWER
Ethical standards are based upon religious beliefs
Question 4.
.Ethical Egosim Theory
ANSWER
We all act in our own self-interest and limit our judgments to our own conduct, not the conduct of others.
Question 5.
Utilitarian Theory:
ANSWER
"Greatest happiness principle," or doing the most good for the most people.
Question 6.
Categorical Imperative and Immanuel Kant
ANSWER
One ought only to act such that the principle of one's act could become a universal law of human action in a world in which one would hope to live
Question 7.
Contractarians and Justice
ANSWER
utting ethical standards in place by a social contract. Rational thinking people develop a set of rules for everyone
, Question 8.
Rights Theory
ANSWER
Everyone has a set of rights and it is the role of government to enforce those rights.
Question 9.
Moral Relativists
ANSWER
Time-and-place ethics. Making ethical choices based on the circumstances.
Question 10.
Plato and Aristotle
ANSWER
Develop virtues and determine conduct by those virtues
Question 11.
List the categories of ethical dilemmas
ANSWER
a. Taking things that don't belong to you
b. Saying things you know are not true.
c. Giving or allowing false impressions
d. Buying influence or engaging in conflicts of interest
e. Hiding or divulging information
f. Taking unfair advantage g. Committing acts of personal decadence
h. Perpetrating interpersonal abuse
i. Permitting organizational abuse
j. Violating rules
k. Condoning unethical conduct
l. Balancing ethical dilemmas
Question 12.
Give the ways we avoid facing ethical dilemmas
ANSWER
a. Give examples of different labels. Copyright infringement vs. peer-to-peer file sharing Smoothing earnings vs. cooking the books Lying vs. earnings
management
b. List the rationalizations (1) Everybody else does it (2) If we don't do it, someone else will (3) That's the way it has always been done (4) We'll wait until
the lawyers tell us it's wrong (5) It doesn't really hurt anyone (6) The system is unfair (7) I was just following orders
Question 13.
Peter Drucker
ANSWER
primum non nocere; above all do no harm
, Question 14.
Laura Nash
ANSWER
(1) Have you defined the problem accurately? (2) How would you define the problem if you stood on the other side of the fence? (3) How did this occur in the
first place? (4) To whom and what do you give your loyalties as a person and as a member of the corporation? (5) What is your intention in making this
decision? (6) How does this intention compare with the likely results? (7) Whom could your decision or action injure? (8) Can you engage the affected
parties in a discussion of the problem before you make your decision? (9) Are you confident that your position will be as valid over a long period of time as it
seems now? (10) Could you disclose without qualm your decision or action to your boss, your CEO, the board of directors, your family, or society as a
whole? (11) What is the symbolic potential of your action if understood? If misunderstood? (12) Under what conditions would you allow exceptions to your
stand?
Question 15.
Blanchard and Peale
ANSWER
(1) Is it legal? (2) Is it balanced? (3) How does it make me feel?
Question 16.
Warren Buffett
ANSWER
"Contemplating any business act, an employee should ask himself whether he would be willing to see it immediately described by an informed and critical
reporter on the front page of his local paper, there to be read by his spouse, children, and friends. At Salomon we simply want no part of any activities that
pass legal tests but that we, as citizens, would find offensive."
Question 17.
Wall Street Journal
ANSWER
(1) Am I in compliance with the law? (2) What contribution does this choice of action make to the company, the shareholders, the community, and others?
(3) What are the short-and long-term consequences of this decision?
Question 18.
Categorical Imperative (Kant)
ANSWER
Do unto others are you would have them do unto you.
Question 19.
LIST THE SIX STEPS YOU SHOULD FOLLOW FOR ANALYZING AN ETHICAL DILEMMA
ANSWER
1. Make sure you have a grasp of all of the facts available.
2. List any information you would like to have but don't and what assumptions you would have to make, if any, in resolving the dilemma.. Take each person
involved in the dilemma and list the concerns they face or might have.
4. Develop a list of resolutions for the problem.
5. Evaluate the resolutions for costs, legalities, and impact.
6. Make a recommendation on the actions that should be taken.
