Business Ethics Exam 100% Updated!!
ethical behavior in business - ANSWERbehavior that is consistent with the principles, norms and
standards of business practice that have been agreed upon by society
legal but unethical - ANSWERshould a company charge higher prices for necessities after a disaster?
should a company dump carcinogens in a country with lax environmental laws?
Should a company spy on its employees and how much is okay?
ethical but clashes with laws or regulations - ANSWERis it unethical for a news org to keep info about
the sources of a story from govt investigators who have legal authority to obtain info?
is it unethical for an org to discriminate against gay employees in states where it is legal to do so ?
within realm of ethics but law gennerally does not deal with it - ANSWERshould company
pharamacists have to fill prescriptions for the morning after pill if they personally disagree with its
use?
should employees accept gifts from suppliers?
ethics - ANSWERcan be defined as what is good or right for human beings
it is a normative undertaking aims to discover what ought to be rather than simply what is
can be proactive (as doing good) or reactive (not harminng)
normative - ANSWERwhat ought to be
proactive - ANSWERdoing good
reactive - ANSWERnot harming
social development - ANSWERethics as doing good
Do we avoid ethical dilemmas? - ANSWERcall it by a different name
everybody else does it
if we don;t do it, someone else will
that is the way it has always been done
we will wait for lawyers to tell us it is wrong
it does not really hurt anyone
the system is unfair
i was just following orders
just obeying the laws is not enough.. - ANSWERwe need to be aware of ethical issues and have tools
to make ethical decisions
,cynicism - ANSWER= distrust
- less than half say they trust CEOS and less than 20% trust business leaders to make ethical decisions
to tell the truth
call for government reg of business increased
businness not trusted to self regulate
banks trusted the least
lecture 1 key messages - ANSWERethical behavior is driven by person and organizational factors
there is a lot more to ethics than just following the law
people are quite cynical about business and even more so about business leaders
ethics - many facets annd levels of focus - ANSWERindividual - individual choices, professional
ethics : what kind of person or leader am i?
organisational - organisational actions, decisions, strategies - culture, corporate social responsibility
Macro/systemic - economic, political, legal and social systems in which businnesses operate,
environmental, social, political conequences of business activity
formal and informal pressures for ethical behavior - ANSWERmacro or political level:
- broader societal developments
-government
-NGO pressure groups, charitable bodies and customers
-frameworks, standards, or agreements
organisational level - laws, influence, codes of conduct, external ethical reviews and or audit , ethics
hotline - management
individual employees - micro/individual level
- professiona,l codes where relevent
external ethical review or audit
the competitive environments of both orgs and governments
I don't want to talk about ethics because People cannot agree on solutions to moral issues -
ANSWER1. fails to recognnize that experts in many areas disagree on key issues in their fields
2. fails to recognize that there are many moral issues on which people agree
3. fails to distinguish between disagreements about principles and disagreements about facts
I dont wanna talk about ethics because who am i to judge others - ANSWER1. fails to distinguish
between the act of judginng and being a judgemental person
, 2. fails to distinguish between judging as condemning and jusdging as evaluating
3. fails to recognnize that sometimes we are required to make judgements
i do not want to talk about ethics because it is simply a private matter - ANSWER1. fails to recognize
that morality is essentially a public system
2. fails to note that personally-based morality can cause major harm to others
3. confuses moral choices with individual or personal preferences
i do not want to talk about ethics because morality is a metter for indiv cultures to decide -
ANSWER1. fails to distinguish between descriptive and normative claims about morality
2. assymes that people can never reach common agreement on some moral principles
3. assumes that a system is moral because a majority in a culture decides it is moral
resonsible management issues - ANSWERsustainability - triple bottom line
reponnsibility - stakeholders
ethics - moral dilemmas
sustainability issues - ANSWERworld water and ocean crisis
global warming
deforestation and soil loss
population and resource use
poverty and hunnger
ecosystem degradation
biodiverity loss
responsibility issue - ANSWERlabour standard
community well being
consumer rights and protections
supply chainn practices
workplace diverstity
good citizenship
respect for the law
ethical (moral dilemmas) - ANSWERhuman and natural rights
income inequality
corporate governance
fair competition
marketing ethics
ethical behavior in business - ANSWERbehavior that is consistent with the principles, norms and
standards of business practice that have been agreed upon by society
legal but unethical - ANSWERshould a company charge higher prices for necessities after a disaster?
should a company dump carcinogens in a country with lax environmental laws?
Should a company spy on its employees and how much is okay?
ethical but clashes with laws or regulations - ANSWERis it unethical for a news org to keep info about
the sources of a story from govt investigators who have legal authority to obtain info?
is it unethical for an org to discriminate against gay employees in states where it is legal to do so ?
within realm of ethics but law gennerally does not deal with it - ANSWERshould company
pharamacists have to fill prescriptions for the morning after pill if they personally disagree with its
use?
should employees accept gifts from suppliers?
ethics - ANSWERcan be defined as what is good or right for human beings
it is a normative undertaking aims to discover what ought to be rather than simply what is
can be proactive (as doing good) or reactive (not harminng)
normative - ANSWERwhat ought to be
proactive - ANSWERdoing good
reactive - ANSWERnot harming
social development - ANSWERethics as doing good
Do we avoid ethical dilemmas? - ANSWERcall it by a different name
everybody else does it
if we don;t do it, someone else will
that is the way it has always been done
we will wait for lawyers to tell us it is wrong
it does not really hurt anyone
the system is unfair
i was just following orders
just obeying the laws is not enough.. - ANSWERwe need to be aware of ethical issues and have tools
to make ethical decisions
,cynicism - ANSWER= distrust
- less than half say they trust CEOS and less than 20% trust business leaders to make ethical decisions
to tell the truth
call for government reg of business increased
businness not trusted to self regulate
banks trusted the least
lecture 1 key messages - ANSWERethical behavior is driven by person and organizational factors
there is a lot more to ethics than just following the law
people are quite cynical about business and even more so about business leaders
ethics - many facets annd levels of focus - ANSWERindividual - individual choices, professional
ethics : what kind of person or leader am i?
organisational - organisational actions, decisions, strategies - culture, corporate social responsibility
Macro/systemic - economic, political, legal and social systems in which businnesses operate,
environmental, social, political conequences of business activity
formal and informal pressures for ethical behavior - ANSWERmacro or political level:
- broader societal developments
-government
-NGO pressure groups, charitable bodies and customers
-frameworks, standards, or agreements
organisational level - laws, influence, codes of conduct, external ethical reviews and or audit , ethics
hotline - management
individual employees - micro/individual level
- professiona,l codes where relevent
external ethical review or audit
the competitive environments of both orgs and governments
I don't want to talk about ethics because People cannot agree on solutions to moral issues -
ANSWER1. fails to recognnize that experts in many areas disagree on key issues in their fields
2. fails to recognize that there are many moral issues on which people agree
3. fails to distinguish between disagreements about principles and disagreements about facts
I dont wanna talk about ethics because who am i to judge others - ANSWER1. fails to distinguish
between the act of judginng and being a judgemental person
, 2. fails to distinguish between judging as condemning and jusdging as evaluating
3. fails to recognnize that sometimes we are required to make judgements
i do not want to talk about ethics because it is simply a private matter - ANSWER1. fails to recognize
that morality is essentially a public system
2. fails to note that personally-based morality can cause major harm to others
3. confuses moral choices with individual or personal preferences
i do not want to talk about ethics because morality is a metter for indiv cultures to decide -
ANSWER1. fails to distinguish between descriptive and normative claims about morality
2. assymes that people can never reach common agreement on some moral principles
3. assumes that a system is moral because a majority in a culture decides it is moral
resonsible management issues - ANSWERsustainability - triple bottom line
reponnsibility - stakeholders
ethics - moral dilemmas
sustainability issues - ANSWERworld water and ocean crisis
global warming
deforestation and soil loss
population and resource use
poverty and hunnger
ecosystem degradation
biodiverity loss
responsibility issue - ANSWERlabour standard
community well being
consumer rights and protections
supply chainn practices
workplace diverstity
good citizenship
respect for the law
ethical (moral dilemmas) - ANSWERhuman and natural rights
income inequality
corporate governance
fair competition
marketing ethics
