BUL 4421 CHAPTER 2 CORRECT
SOLUTIONS
Business Ethics - ANSWER-The use of ethics and ethical principles to solve business
dilemmas.
Ethical Dilemma - ANSWER-A question about how a person should behave that
requires the person to reflect about the advantages and disadvantages of the optional
choices for various stakeholders.
Ethical Guidelines - ANSWER-A simple tool to help determine whether an action is
moral.
Values - ANSWER-Positive abstractions that capture our sense of what is good and
desirable.
WPH Process of Ethical Decision Making - ANSWER-A set of ethical guidelines that
urges us to consider whom an action affects, the purpose of the action, and how we
view its morality (whether by utilitarian ethics, deontology, etc.).
Ethics - ANSWER-The study and practice of decisions about what is good or right.
Social Responsibility of Business - ANSWER-The responsibility of firms doing business
within a community to meet the expectations that the community imposes on them.
Stakeholders - ANSWER-The groups of people affected by a firm's decisions.
SOLUTIONS
Business Ethics - ANSWER-The use of ethics and ethical principles to solve business
dilemmas.
Ethical Dilemma - ANSWER-A question about how a person should behave that
requires the person to reflect about the advantages and disadvantages of the optional
choices for various stakeholders.
Ethical Guidelines - ANSWER-A simple tool to help determine whether an action is
moral.
Values - ANSWER-Positive abstractions that capture our sense of what is good and
desirable.
WPH Process of Ethical Decision Making - ANSWER-A set of ethical guidelines that
urges us to consider whom an action affects, the purpose of the action, and how we
view its morality (whether by utilitarian ethics, deontology, etc.).
Ethics - ANSWER-The study and practice of decisions about what is good or right.
Social Responsibility of Business - ANSWER-The responsibility of firms doing business
within a community to meet the expectations that the community imposes on them.
Stakeholders - ANSWER-The groups of people affected by a firm's decisions.
