LES 305 Exam 1-Vocab UPDATED ACTUAL
Questions and CORRECT Answers
Ethics - CORRECT ANSWER - Ethics consists of the unwritten rules we have developed
for our interaction w each other
Divine Command Theory - CORRECT ANSWER - ethical standards are based upon
religious beliefs
Ethical Egoism Theory - CORRECT ANSWER - We all act in our own self-interest and
limit out judgments to our own conduct, not the conduct of others
Utilitarian Theory - CORRECT ANSWER - "greatest happiness principle", or doing the
most good for the most people
Categorical Imperative - CORRECT ANSWER - Immanuel Kant; One only ought to act
such that the principle of one's act could become a universal law of human action in a world
which we hope to live.
Contractarians and Justive - CORRECT ANSWER - Putting ethical standards in place by a
social contract. Rational thinking people develop a set of rules for everyone
Rights Theory - CORRECT ANSWER - Everyone has a set o rights and it is the role of the
govt to enforce those rights
Moral Relativists - CORRECT ANSWER - Time-and-place ethics. Making ethical choices
based on the circumstances; kind of like rationalization
ex: money and oprah
Virtue ethics- Plato and Aristotle - CORRECT ANSWER - Develop virtues and determine
conduct by those virtues
,Categories of ethical dilemma - CORRECT ANSWER - 1.Taking things that don't belong
to you
2.Saying things that you know aren't true
3.Giving or allowing false impressions
4.Buying influence of engaging in conflicts of interest
5. Hiding or divulging information
6.Taking unfair advantage
7. Committing acts of personal decadence
8.perpetration interpseonal abuse
9. Permitting organizational abuse
10.Violating Rules
11.Condoning unethical conduct
12. Balancing ethical dilemmas
Ways we avoid facing ethical dilemmas - CORRECT ANSWER - *Copy right
infringement vs. "peer to peer sharing"
*smoothing earnings vs. cooking the books
*lying vs. earnings management
ways we avoid facing ethical dilemmas -Rationalizations - CORRECT ANSWER - 1.
everybody else does it
2. if we don't do it, someone else will
3. thats the way it has always been done
4. we'll wait until the lawyers tell us its wrong
5. It doesn't really hurt anyone
6. the system is unfair
7. I was just following orders
, Tests that can be used to resolve ethical dilemmas - CORRECT ANSWER - *Peter
Drucker-Primum non nocere
*Laura Nash
*Blanchard and Peale
*Warren Buffet
*Wall street journal
Peter Drucker-Primum non nocere - CORRECT ANSWER - Above all do no harm
Laura Nash - CORRECT 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?
Blanchard and Peale - CORRECT ANSWER - 1. Is it legal?
2. Is it balanced?
3. How does it make me feel?
* analyze the legality of an action that is being contemplated
Questions and CORRECT Answers
Ethics - CORRECT ANSWER - Ethics consists of the unwritten rules we have developed
for our interaction w each other
Divine Command Theory - CORRECT ANSWER - ethical standards are based upon
religious beliefs
Ethical Egoism Theory - CORRECT ANSWER - We all act in our own self-interest and
limit out judgments to our own conduct, not the conduct of others
Utilitarian Theory - CORRECT ANSWER - "greatest happiness principle", or doing the
most good for the most people
Categorical Imperative - CORRECT ANSWER - Immanuel Kant; One only ought to act
such that the principle of one's act could become a universal law of human action in a world
which we hope to live.
Contractarians and Justive - CORRECT ANSWER - Putting ethical standards in place by a
social contract. Rational thinking people develop a set of rules for everyone
Rights Theory - CORRECT ANSWER - Everyone has a set o rights and it is the role of the
govt to enforce those rights
Moral Relativists - CORRECT ANSWER - Time-and-place ethics. Making ethical choices
based on the circumstances; kind of like rationalization
ex: money and oprah
Virtue ethics- Plato and Aristotle - CORRECT ANSWER - Develop virtues and determine
conduct by those virtues
,Categories of ethical dilemma - CORRECT ANSWER - 1.Taking things that don't belong
to you
2.Saying things that you know aren't true
3.Giving or allowing false impressions
4.Buying influence of engaging in conflicts of interest
5. Hiding or divulging information
6.Taking unfair advantage
7. Committing acts of personal decadence
8.perpetration interpseonal abuse
9. Permitting organizational abuse
10.Violating Rules
11.Condoning unethical conduct
12. Balancing ethical dilemmas
Ways we avoid facing ethical dilemmas - CORRECT ANSWER - *Copy right
infringement vs. "peer to peer sharing"
*smoothing earnings vs. cooking the books
*lying vs. earnings management
ways we avoid facing ethical dilemmas -Rationalizations - CORRECT ANSWER - 1.
everybody else does it
2. if we don't do it, someone else will
3. thats the way it has always been done
4. we'll wait until the lawyers tell us its wrong
5. It doesn't really hurt anyone
6. the system is unfair
7. I was just following orders
, Tests that can be used to resolve ethical dilemmas - CORRECT ANSWER - *Peter
Drucker-Primum non nocere
*Laura Nash
*Blanchard and Peale
*Warren Buffet
*Wall street journal
Peter Drucker-Primum non nocere - CORRECT ANSWER - Above all do no harm
Laura Nash - CORRECT 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?
Blanchard and Peale - CORRECT ANSWER - 1. Is it legal?
2. Is it balanced?
3. How does it make me feel?
* analyze the legality of an action that is being contemplated
