BUL 5810 EXAMS SCRIPT UPDATED QUESTIONS AND
ANSWERS GRADED A+
✔✔Rule Utilitarianism - ✔✔Supports rules that on balance produce the greatest
pleasure for society.
✔✔Cost-Benefit Analysis - ✔✔Quantifies the benefits and cost of alternatives.
✔✔Deontology - ✔✔Actions must be judged by their motives and means as well as their
results.
✔✔Social Ethics Theories - ✔✔Focus is on a person's obligations to other members in
society and on the individual's rights and obligations within socity.
✔✔Social Egalitarians - ✔✔Believe that society should provide all its members with
equal amounts of goods and services regardless of their relative contributions.
✔✔Distributive Justice - ✔✔Stresses equality of opportunity rather than results.
✔✔Libertarians - ✔✔Stress market outcomes as the basis for distributing society's
rewards.
✔✔Intuitionism - ✔✔A rational person possesses inherent power to assess the
correctness of actions.
✔✔Good Person - ✔✔Individuals should seek out and emulate good role models.
✔✔Choosing an Ethical System - ✔✔Kohlberg's stages of moral development is a
widely accepted model.
✔✔Corporations as Moral Agents - ✔✔Because a corporation is a statutorily created
entity, it is not clear whether it should be held morally responsible.
✔✔Regulation of Business - ✔✔Governmental regulation has been necessary because
all the conditions for perfect competition have not been satisfied and free competition
cannot by itself achieve other societal objectives.
✔✔Corporate Governance - ✔✔Vast amounts of wealth and power have become
concentrated in a small number of corporations, which in turn are controlled by a small
group of corporate officers.
✔✔Arguments Against Social Responsibility - ✔✔- Profitability
- Unfairness
- Accountability
, - Expertise
✔✔Profitability - ✔✔Because corporations are artificial entities established for profit-
making activities, their only social obligation should be to return as much money as
possible to shareholders.
✔✔Unfairness - ✔✔Whenever corporations engage in social activities such as
supporting the arts or education, they divert funds rightfully belonging to shareholders
and/or employees to unrelated third parties.
✔✔Accountability - ✔✔A corporation is subject to less public accountability than public
bodies are.
✔✔Expertise - ✔✔Although a corporation may have a high level of expertise in selling
its goods and services, there is absolutely no guarantee that any promotion of social
activities will be carried on with the same degree of competence.
✔✔Arguments in Favor of Social Responsibility - ✔✔- The Social Contract
- Less Government Regulation
- Long-Run Profits
✔✔The Social Contract - ✔✔Because society allows for the creation of corporations and
gives them special rights, including a grant of limited liability, corporations owe a
responsibility to society.
✔✔Less Government Regulation - ✔✔By taking a more proactive role in addressing
society's problems, corporations create a climate of trust and respect that has the effect
of reducing government regulation.
✔✔Long-Run Profits - ✔✔Corporate involvement in social causes creates goodwill,
which simply makes good business sense.
✔✔Federal Courts - ✔✔- District Courts
- Court of Appeals
- The Supreme Court
- Special Courts
✔✔District Courts - ✔✔Trial courts of general jurisdiction that can hear and decide most
legal controversies in the Federal system.
✔✔Court of Appeals - ✔✔Hear appeals from the district court and review orders of
certain administrative agencies.
✔✔The Supreme Court - ✔✔The nation's highest court, whose principal function is to
review decisions of the Federal Courts of Appeals and the highest State courts.
ANSWERS GRADED A+
✔✔Rule Utilitarianism - ✔✔Supports rules that on balance produce the greatest
pleasure for society.
✔✔Cost-Benefit Analysis - ✔✔Quantifies the benefits and cost of alternatives.
✔✔Deontology - ✔✔Actions must be judged by their motives and means as well as their
results.
✔✔Social Ethics Theories - ✔✔Focus is on a person's obligations to other members in
society and on the individual's rights and obligations within socity.
✔✔Social Egalitarians - ✔✔Believe that society should provide all its members with
equal amounts of goods and services regardless of their relative contributions.
✔✔Distributive Justice - ✔✔Stresses equality of opportunity rather than results.
✔✔Libertarians - ✔✔Stress market outcomes as the basis for distributing society's
rewards.
✔✔Intuitionism - ✔✔A rational person possesses inherent power to assess the
correctness of actions.
✔✔Good Person - ✔✔Individuals should seek out and emulate good role models.
✔✔Choosing an Ethical System - ✔✔Kohlberg's stages of moral development is a
widely accepted model.
✔✔Corporations as Moral Agents - ✔✔Because a corporation is a statutorily created
entity, it is not clear whether it should be held morally responsible.
✔✔Regulation of Business - ✔✔Governmental regulation has been necessary because
all the conditions for perfect competition have not been satisfied and free competition
cannot by itself achieve other societal objectives.
✔✔Corporate Governance - ✔✔Vast amounts of wealth and power have become
concentrated in a small number of corporations, which in turn are controlled by a small
group of corporate officers.
✔✔Arguments Against Social Responsibility - ✔✔- Profitability
- Unfairness
- Accountability
, - Expertise
✔✔Profitability - ✔✔Because corporations are artificial entities established for profit-
making activities, their only social obligation should be to return as much money as
possible to shareholders.
✔✔Unfairness - ✔✔Whenever corporations engage in social activities such as
supporting the arts or education, they divert funds rightfully belonging to shareholders
and/or employees to unrelated third parties.
✔✔Accountability - ✔✔A corporation is subject to less public accountability than public
bodies are.
✔✔Expertise - ✔✔Although a corporation may have a high level of expertise in selling
its goods and services, there is absolutely no guarantee that any promotion of social
activities will be carried on with the same degree of competence.
✔✔Arguments in Favor of Social Responsibility - ✔✔- The Social Contract
- Less Government Regulation
- Long-Run Profits
✔✔The Social Contract - ✔✔Because society allows for the creation of corporations and
gives them special rights, including a grant of limited liability, corporations owe a
responsibility to society.
✔✔Less Government Regulation - ✔✔By taking a more proactive role in addressing
society's problems, corporations create a climate of trust and respect that has the effect
of reducing government regulation.
✔✔Long-Run Profits - ✔✔Corporate involvement in social causes creates goodwill,
which simply makes good business sense.
✔✔Federal Courts - ✔✔- District Courts
- Court of Appeals
- The Supreme Court
- Special Courts
✔✔District Courts - ✔✔Trial courts of general jurisdiction that can hear and decide most
legal controversies in the Federal system.
✔✔Court of Appeals - ✔✔Hear appeals from the district court and review orders of
certain administrative agencies.
✔✔The Supreme Court - ✔✔The nation's highest court, whose principal function is to
review decisions of the Federal Courts of Appeals and the highest State courts.
