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BUSINESS ETHICS STUDY GUIDE
Weeks 2–6 Review & Final Exam Preparation
Topics Covered:
Ethics and Business Success
Libertarianism and Free Markets
Corporate Social Responsibility
Shareholder Wealth Maximization
Stakeholder Theory
Business Codes of Conduct
Ethical Leadership
Corporate Accountability
Designed to help students prepare for:
✔ Discussion Boards
✔ Assignments
✔ Quizzes
✔ Midterms
✔ Final Exams
Table of Contents
1. Introduction
2. Week 2: The Importance of Ethics in Business
3. Week 3: Libertarianism and Business Ethics
4. Week 4: Corporate Social Responsibility
5. Week 5: Shareholder Wealth Maximization
6. Week 6: Codes of Conduct
7. Major Themes Across the Course
8. Key Terms and Definitions
9. Student Perspectives and Discussion Insights
10. Final Exam Cheat Sheet
11. Practice Multiple-Choice Questions
12. Short-Answer Practice Questions
13. Discussion Board Preparation Guide
Introduction
, 2
Business ethics explores the relationship between business decisions and moral
responsibility. Throughout this course, one recurring question appears in different
forms:
What responsibilities do businesses have beyond making money?
The readings and discussions examined competing views about freedom,
responsibility, profit, regulation, community engagement, and ethical leadership.
Understanding these debates is essential because business decisions affect employees,
customers, investors, communities, and society as a whole.
Week 2: The Importance of Ethics in Business
Main Concept
Ethics plays a crucial role in business because businesses rely on trust. Customers,
employees, investors, and communities all make decisions based on whether they
believe a company acts honestly and responsibly.
Key Ideas
Ethics goes beyond legal compliance.
Businesses can act legally while behaving unethically.
Trust is difficult to build and easy to lose.
Ethical behavior contributes to long-term success.
Why Ethics Matters
Ethical businesses often experience:
Greater customer loyalty
Better employee retention
Stronger public reputation
Lower legal risk
Long-term sustainability
Example
A company may legally outsource production to reduce costs. However, if workers
are subjected to unsafe conditions, many consumers would still view the decision as
unethical.
Important Takeaway
The law establishes minimum standards. Ethics often requires businesses to meet
higher standards.
BUSINESS ETHICS STUDY GUIDE
Weeks 2–6 Review & Final Exam Preparation
Topics Covered:
Ethics and Business Success
Libertarianism and Free Markets
Corporate Social Responsibility
Shareholder Wealth Maximization
Stakeholder Theory
Business Codes of Conduct
Ethical Leadership
Corporate Accountability
Designed to help students prepare for:
✔ Discussion Boards
✔ Assignments
✔ Quizzes
✔ Midterms
✔ Final Exams
Table of Contents
1. Introduction
2. Week 2: The Importance of Ethics in Business
3. Week 3: Libertarianism and Business Ethics
4. Week 4: Corporate Social Responsibility
5. Week 5: Shareholder Wealth Maximization
6. Week 6: Codes of Conduct
7. Major Themes Across the Course
8. Key Terms and Definitions
9. Student Perspectives and Discussion Insights
10. Final Exam Cheat Sheet
11. Practice Multiple-Choice Questions
12. Short-Answer Practice Questions
13. Discussion Board Preparation Guide
Introduction
, 2
Business ethics explores the relationship between business decisions and moral
responsibility. Throughout this course, one recurring question appears in different
forms:
What responsibilities do businesses have beyond making money?
The readings and discussions examined competing views about freedom,
responsibility, profit, regulation, community engagement, and ethical leadership.
Understanding these debates is essential because business decisions affect employees,
customers, investors, communities, and society as a whole.
Week 2: The Importance of Ethics in Business
Main Concept
Ethics plays a crucial role in business because businesses rely on trust. Customers,
employees, investors, and communities all make decisions based on whether they
believe a company acts honestly and responsibly.
Key Ideas
Ethics goes beyond legal compliance.
Businesses can act legally while behaving unethically.
Trust is difficult to build and easy to lose.
Ethical behavior contributes to long-term success.
Why Ethics Matters
Ethical businesses often experience:
Greater customer loyalty
Better employee retention
Stronger public reputation
Lower legal risk
Long-term sustainability
Example
A company may legally outsource production to reduce costs. However, if workers
are subjected to unsafe conditions, many consumers would still view the decision as
unethical.
Important Takeaway
The law establishes minimum standards. Ethics often requires businesses to meet
higher standards.
