BUSMHR 2292 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Paine's Basic Ethics Framework, what was his framework article about? - CORRECT
ANSWER -Markets are amoral, but market participants frequently must make ethical
judgements (Trust)
-Repeats links between ethics and performance
-Despite those links, Paine argues we haven't done a good job of integrating ethics strategies into
management decision making strategies
-Paine suggests a framework for doing so:
-Difficulty is that we often use emotion, rather than reason, to resolve ethical issues.
-Ordinarily, IF we use reason, often it is to attempt to justify our action AFTER THE FACT
-There CAN be MORE THAN ONE ethical answer
This is a Stakeholder Analysis:
-Figuring anyone who can affect or anyone who is affected by a decision and how they're
affected
Albert Einstein Quote - CORRECT ANSWER "The intuitive mind is a sacred gift and the
rational mind is a faithful servant."
Paine's 4 Questions for us to consider what Ethical Standard may apply - CORRECT
ANSWER 1. Is the action consistent with the actor's basic DUTIES?
,2. Does it respect the RIGHTS and other legitimate claims of the affected parties?
3. Does it reflect BEST PRACTICE
4. Is it compatible with the actor's own deeply held COMMITMENTS ("core values")?
Duty - CORRECT ANSWER Requirement to act or not to act towards others
Basic moral duties in law or codes
Right - CORRECT ANSWER Requirement in others to behave in a certain fashion toward
you - also often in law or codes
Converse of duty (Ex: West Point Three Rules of Thumb)
West Point - Three Rules of Thumb - CORRECT ANSWER 1. does action attempt to
deceive or allow deceit?
2. does action gain or allow gain of privilege or advantage to which i or someone else would not
otherwise be entitled
3. would i be dissatisfied by the outcome if i were on the receiving end of action?
What are Best Practices - CORRECT ANSWER Principles or Standards of excellence
(ethics codes, voluntary standards)
Ideals, values, aspirations
, Commitments - CORRECT ANSWER Self-chosen or subjective moral convictions
(principles, core values, standards of integrity)
"You can make money without doing evil" - One of Google's "What we believe" statements
ELI lens info from other quizlet - CORRECT ANSWER add it
Two Approaches to 'Justice' - CORRECT ANSWER 1. Distributive Justice
2. Procedural Justice
Distributive Justice - CORRECT ANSWER Concerns the nature of a society just
allocation of goods in a society
Procedural Justice - CORRECT ANSWER The idea of fairness in the processes that
resolves disputes and allocates resources
concerns the fairness and the transparency of the processes by which decisions are made
4 Steps suggested in Paine's Framework - CORRECT ANSWER 1. Facts and ethical issues
2. Stakeholders
3. Ethical Standards
4. Objectivity & Transparency
Facts and Ethical Issues - CORRECT ANSWER Stop and Critically Think - Emotion can
derail objectivity
QUESTIONS AND CORRECT ANSWERS
Paine's Basic Ethics Framework, what was his framework article about? - CORRECT
ANSWER -Markets are amoral, but market participants frequently must make ethical
judgements (Trust)
-Repeats links between ethics and performance
-Despite those links, Paine argues we haven't done a good job of integrating ethics strategies into
management decision making strategies
-Paine suggests a framework for doing so:
-Difficulty is that we often use emotion, rather than reason, to resolve ethical issues.
-Ordinarily, IF we use reason, often it is to attempt to justify our action AFTER THE FACT
-There CAN be MORE THAN ONE ethical answer
This is a Stakeholder Analysis:
-Figuring anyone who can affect or anyone who is affected by a decision and how they're
affected
Albert Einstein Quote - CORRECT ANSWER "The intuitive mind is a sacred gift and the
rational mind is a faithful servant."
Paine's 4 Questions for us to consider what Ethical Standard may apply - CORRECT
ANSWER 1. Is the action consistent with the actor's basic DUTIES?
,2. Does it respect the RIGHTS and other legitimate claims of the affected parties?
3. Does it reflect BEST PRACTICE
4. Is it compatible with the actor's own deeply held COMMITMENTS ("core values")?
Duty - CORRECT ANSWER Requirement to act or not to act towards others
Basic moral duties in law or codes
Right - CORRECT ANSWER Requirement in others to behave in a certain fashion toward
you - also often in law or codes
Converse of duty (Ex: West Point Three Rules of Thumb)
West Point - Three Rules of Thumb - CORRECT ANSWER 1. does action attempt to
deceive or allow deceit?
2. does action gain or allow gain of privilege or advantage to which i or someone else would not
otherwise be entitled
3. would i be dissatisfied by the outcome if i were on the receiving end of action?
What are Best Practices - CORRECT ANSWER Principles or Standards of excellence
(ethics codes, voluntary standards)
Ideals, values, aspirations
, Commitments - CORRECT ANSWER Self-chosen or subjective moral convictions
(principles, core values, standards of integrity)
"You can make money without doing evil" - One of Google's "What we believe" statements
ELI lens info from other quizlet - CORRECT ANSWER add it
Two Approaches to 'Justice' - CORRECT ANSWER 1. Distributive Justice
2. Procedural Justice
Distributive Justice - CORRECT ANSWER Concerns the nature of a society just
allocation of goods in a society
Procedural Justice - CORRECT ANSWER The idea of fairness in the processes that
resolves disputes and allocates resources
concerns the fairness and the transparency of the processes by which decisions are made
4 Steps suggested in Paine's Framework - CORRECT ANSWER 1. Facts and ethical issues
2. Stakeholders
3. Ethical Standards
4. Objectivity & Transparency
Facts and Ethical Issues - CORRECT ANSWER Stop and Critically Think - Emotion can
derail objectivity
