Unit 3 BA 300 || 100% Valid Solutions.
Ayn Rand's Objectivism correct answers Value capitalism, free market, develop yourself, think
hard, think and act without emotions
Ayn Rand Background correct answers convince Americans that our system and our values are
more important than we believe
Objectivism Decision Rule correct answers Be rational and be all that you can be
- build yourself into the best human
- convince by reason and be rational
Objectivism - Biggest Pro correct answers Reinforces personal responsibility
- develop yourself, it is virtuous to help others
- use productive energy for pros and cons
Objectivism - Biggest Con correct answers individualistic and judgmental
- (I): too self-centered, be more community oriented
- (J): judge by capabilities not personality
Objectivism Example correct answers Motive Communications: want competitive independent
people because they will build themselves and the firm up
Ethic of Care correct answers commitment of caring and moral focus on relationships
Ethic of Care Decision Rule correct answers Focus on relationships and responsibilities
- Relationships: care for them, suppliers, customers, employees, treat as people
- Responsibilities: Nozick's rights theory, responsibility to not be violent to others
Ethic of Care - Biggest Pro correct answers protects the weak and dependent
- do not judge those who have problems, make other dependent, fulfill responsibilities
Ethics of Care: Biggest Con correct answers neglects justice
- encouraging bad behavior, no punishments, should be responsible for actions
Ethics of care example correct answers certain small entrepreneurial businesses
- founder is not always focused on profits
- "feminine firm" but it is not gender based
Ethics of Care Kolberg and Harvard study correct answers K- women don't rise to higher levels
H- women and meant raise to higher levels it is not gender based
Integrative Social Contracts Theory correct answers created by people who come together to
create the theory
, who are the authors of the integrative social contracts theory correct answers Donaldson and
dumphey
integrative social contract theory decision rule correct answers action does not violate a
hypernorxm or local authentic norm
-h: (1.) respect dignity of all (2) respect human rights
-a: must be in sync with 1) what the locals approve 2) what they disapprove 3) almost everyone
does it
integrative social contract theory biggest pro correct answers adapts to variations in local norms
within some global limits
- care about local culture, do things different, respect norms
integrative social contract theory biggest con correct answers local norms are vague and may
give actors too much flexibility
- easier to know norms when you are a part of the culture, determine individual beliefs
integrative social contracts theory example correct answers Levi strauss underage workers in
Bangladesh
- children were under 14 working in factory, it violated the norms, the kids dignity and human
rights
- they made it right by taking them out of the factory and sending them to school and hiring them
when they were of age
Corporation definition correct answers legal entity chartered by the state with rights and
responsibilities apart from the persons running or working for the corporation
the fundamentals of corporations correct answers - separation of ownership and control
- shareholder rights vs. managerial discretion
- what are the roles and responsibilities of a corporation that individuals do not have
two perspectives that have conflicting values correct answers 1) Shareholder Value
2) stakeholder Value
Shareholder Value correct answers maximize profits within the law and morality standards
(Friedman)
Stakeholder Value correct answers advance the interests of all stakeholders even at the expense
of profit
what do shareholders own? correct answers shareholders invest in the promise of maximum
shareholder value in exchange for taking on the firms residual risk
- promise stays with the shares as they change from hand to hand over time
3 arguments for shareholder value correct answers 1) legal arguments
2) economic imperative
Ayn Rand's Objectivism correct answers Value capitalism, free market, develop yourself, think
hard, think and act without emotions
Ayn Rand Background correct answers convince Americans that our system and our values are
more important than we believe
Objectivism Decision Rule correct answers Be rational and be all that you can be
- build yourself into the best human
- convince by reason and be rational
Objectivism - Biggest Pro correct answers Reinforces personal responsibility
- develop yourself, it is virtuous to help others
- use productive energy for pros and cons
Objectivism - Biggest Con correct answers individualistic and judgmental
- (I): too self-centered, be more community oriented
- (J): judge by capabilities not personality
Objectivism Example correct answers Motive Communications: want competitive independent
people because they will build themselves and the firm up
Ethic of Care correct answers commitment of caring and moral focus on relationships
Ethic of Care Decision Rule correct answers Focus on relationships and responsibilities
- Relationships: care for them, suppliers, customers, employees, treat as people
- Responsibilities: Nozick's rights theory, responsibility to not be violent to others
Ethic of Care - Biggest Pro correct answers protects the weak and dependent
- do not judge those who have problems, make other dependent, fulfill responsibilities
Ethics of Care: Biggest Con correct answers neglects justice
- encouraging bad behavior, no punishments, should be responsible for actions
Ethics of care example correct answers certain small entrepreneurial businesses
- founder is not always focused on profits
- "feminine firm" but it is not gender based
Ethics of Care Kolberg and Harvard study correct answers K- women don't rise to higher levels
H- women and meant raise to higher levels it is not gender based
Integrative Social Contracts Theory correct answers created by people who come together to
create the theory
, who are the authors of the integrative social contracts theory correct answers Donaldson and
dumphey
integrative social contract theory decision rule correct answers action does not violate a
hypernorxm or local authentic norm
-h: (1.) respect dignity of all (2) respect human rights
-a: must be in sync with 1) what the locals approve 2) what they disapprove 3) almost everyone
does it
integrative social contract theory biggest pro correct answers adapts to variations in local norms
within some global limits
- care about local culture, do things different, respect norms
integrative social contract theory biggest con correct answers local norms are vague and may
give actors too much flexibility
- easier to know norms when you are a part of the culture, determine individual beliefs
integrative social contracts theory example correct answers Levi strauss underage workers in
Bangladesh
- children were under 14 working in factory, it violated the norms, the kids dignity and human
rights
- they made it right by taking them out of the factory and sending them to school and hiring them
when they were of age
Corporation definition correct answers legal entity chartered by the state with rights and
responsibilities apart from the persons running or working for the corporation
the fundamentals of corporations correct answers - separation of ownership and control
- shareholder rights vs. managerial discretion
- what are the roles and responsibilities of a corporation that individuals do not have
two perspectives that have conflicting values correct answers 1) Shareholder Value
2) stakeholder Value
Shareholder Value correct answers maximize profits within the law and morality standards
(Friedman)
Stakeholder Value correct answers advance the interests of all stakeholders even at the expense
of profit
what do shareholders own? correct answers shareholders invest in the promise of maximum
shareholder value in exchange for taking on the firms residual risk
- promise stays with the shares as they change from hand to hand over time
3 arguments for shareholder value correct answers 1) legal arguments
2) economic imperative
