Business Ethics Theology Final Exam

Havard on Magnanimity

- Pursuit of noble, great objectives and personal virtues. - Service-oriented leadership that seeks the greater good and fosters personal and collective development. - An integral role for virtues like humility and courage in ethical decision-making and mentoring others. - Developing individuals, building virtuous organizational cultures, and positively impacting society by inspiring and guiding others toward ethical and virtuous actions.

Virtue

A habitual disposition to do the good; a good habit that forms our character

What role does culture play in a company's pursuit of ethics?

Ethical Standards: Culture defines acceptable ethical standards. Leadership Example: Ethical leadership sets the tone. Decision-Making: Culture affects ethical decision processes. Communication: Open dialogue supports ethics. Accountability: Culture encourages responsibility. Training: Ethical culture values learning and development. Risk Management: It helps identify and address risks. Stakeholder Relations: Trust is built with ethical culture. Sustainability: It impacts long-term success and reputation. Employee Engagement: Morale is higher in ethical cultures. Compliance: Culture aids in legal compliance.

Three Ingredients for Human Flourishing

Knowledge, Choice and Virtue Knowledge: Every human being has some knowledge of what is morally good and morally bad and by this knowledge, we are inclined toward morally good action and away from morally bad action Choice: If we choose to act in accord with this knowledge, we will acquire virtues, which dispose us toward morally good actions Virtue: By acquiring virtue, we not only do good things, but also become good persons.

What are some related virtues or opposed vices to the four cardinal virtues?

The four cardinal virtues (prudence, justice, fortitude, and temperance) are accompanied by related virtues and opposed vices: Prudence: Related Virtues: Wisdom, discernment, foresight, discretion. Opposed Vices: Impulsiveness, recklessness, thoughtlessness. Justice: Related Virtues: Fairness, equity, honesty, integrity. Opposed Vices: Injustice, inequality, dishonesty, corruption. Fortitude: Related Virtues: Courage, bravery, perseverance. Opposed Vices: Cowardice, fearfulness, weakness. Temperance: Related Virtues: Self-control, moderation, restraint. Opposed Vices: Excess, indulgence, intemperance, glutt

What does it mean to say that prudence is the "charioteer of the virtues"?

The phrase "prudence is the charioteer of the virtues" means that prudence plays a crucial guiding and controlling role in the practice of all virtues. In this analogy, prudence is likened to the charioteer, the person who steers a chariot pulled by horses. Here's what this statement implies: Guiding Virtues: Prudence helps individuals discern and choose the right course of action when faced with moral decisions. It guides individuals in determining how to apply other virtues, such as courage, justice, and temperance, in specific situations. Balancing Virtues: Prudence ensures a balance among virtues. It prevents excesses or deficiencies in the practice of virtues. For example, it helps one strike the right balance between being courageous and reckless or between being just and overly strict. Practical Wisdom: Prudence is often described as practical wisdom. It involves the ability to make sound judgments and decisions based on a deep understanding of ethical principles, a sense of morality, and practical knowledge of the circumstances. Integration of Virtues: Prudence integrates virtues into a harmonious moral life. It helps individuals navigate complex moral choices by considering all relevant factors, including moral principles, consequences, and the context in which decisions are made. In essence, prudence acts as the wise and discerning guide that ensures the virtues are exercised in a way that leads to ethical and virtuous behavior. It is the virtue that helps individuals make morally sound choices and apply other virtues effectively in their daily lives.

Purpose of Business - JPII

- Serve humanity and the common good. - Respect human dignity in all aspects of business. - Promote solidarity and social justice. - Be responsible stewards of natural resources and the environment. - Make ethical decisions and act with honesty and transparency. - Consider the principle of subsidiarity in decision-making. -View profit as a means to the end of promoting well-being and development not a means to acquire wealth Businesses should prioritize the well-being of employees, contribute to the welfare of communities, and uphold ethical and moral values in their operations. In his view, business should be a force for social and economic justice, promoting human dignity and the greater good of all, rather than pursuing profit at any cost.

Habit

repetitive action that characterizes who somebody is over time

What is the common good according to Gaudium et spes?

"Gaudium et Spes" is one of the documents produced during the Second Vatican Council Human Dignity: The document asserts that the common good is intimately connected to the dignity of every human person. It emphasizes the inherent worth and value of every individual and their right to the conditions necessary for a dignified life. Social Nature of Humanity: "Gaudium et Spes" recognizes that human beings are social by nature and that we live in community with others. As such, it is the responsibility of society, including governments and institutions, to promote the common good. Respect for Human Rights: The document underscores the importance of respecting and protecting the fundamental human rights and freedoms of all individuals, as these are essential elements of the common good. Justice and Solidarity: Justice is crucial for the common good. "Gaudium et Spes" emphasizes the significance of just social structures and fair economic systems that distribute resources and opportunities. It also promotes solidarity, mutual responsibility, and care for one another in society. Promotion of Peace: The common good is linked to peace, both nationally and internationally. The document urges efforts to address conflict causes and promote reconciliation.

Obstacles to knowing the truth

-limitations of reason -inconstancy of the human heart (28) -lack of certainty (29)

Deontology (Duty Ethics)

Approach to ethics that judges the morality of an action based on the action's adherence to rules. Described as duty or obligation, because rules 'binds you to your duty'

Utilitarianism

idea that the goal of society should be to bring about the greatest happiness for the greatest number of people

Ethical Egoism

the belief that individuals should live their lives so as to maximize their own pleasure and minimize their own pain

What economic system, if any, does Catholic social teaching propose?

According to Catholic social teaching, good governments and good economic systems find ways of fostering human dignity, solidarity and subsidiarity

What is the central problem of capitalism, according to Amintore Fanfani?

**Amintore Fanfani's View on the Central Problem of Capitalism**: - Capitalism separates human aims by prioritizing economic utility. - Economic rationalization becomes dominant, overshadowing other life principles. - This separation is rooted in political and economic liberalism. - Fanfani believes capitalism neglects external moral and ethical principles. - He criticizes capitalism for the substitution of means for ends and its impact on virtues. - In capitalism, virtues take on different meanings and motivations. - Fanfani emphasizes the contrast between the Catholic order and capitalism. - He argues that Catholicism's core principles remain unchanged despite historical contingencies.

Define blind spots and identify some common ones.

**Blind spots** are cognitive biases or limitations that affect decision-making. Some common ones include: - Loss Aversion: Fear of losing more than gaining. - Present Bias: Preferring immediate rewards over long-term benefits. - Overconfidence: Overestimating one's abilities and beliefs. - Confirmation Bias: Seeking information that confirms existing beliefs. - Anchoring: Giving too much importance to the first piece of information. - Herd Mentality: Following the majority, even against personal beliefs. - Status Quo Bias: Preferring the current situation and resisting change. - Availability Heuristic: Relying on readily available information. - Sunk Cost Fallacy: Continuing due to past investments, even if it doesn't make sense. - Overoptimism: Being overly optimistic about the future and outcomes. Blind spots can lead to suboptimal decisions, and nudges aim to address them.

What is ethical fading? What are forecasting errors?

**Ethical Fading**: - Ethical fading happens during decision-making. - It occurs when ethical considerations become less prominent. - The "should self" (rational) gives way to the "want self" (emotive). - Personal desires or pressures can lead to ethical considerations taking a backseat. **Forecasting Errors**: - Forecasting errors are mistakes in predicting outcomes of actions. - People tend to rationalize their decisions, acting as "lawyers" for themselves. - Prudence helps in making ethical decisions by considering consequences and moral values. - Ethical fading and forecasting errors can hinder prudent decision-making.

According to the Second Vatican Council (Vatican II), what is the lay apostolate? Why does it matter?

**Lay Apostolate According to the Second Vatican Council (Vatican II):** - Refers to the role of laypeople (non-ordained members of the Church) in the mission of the Church. - An extension of the Church's mission to spread the Gospel in the world. - Engages in works and practices stemming from their Christian faith, both within ecclesiastical structures and in secular environments. - Empowered by the sacraments, especially Baptism and Confirmation, to bear witness to Christ in their personal, family, and social lives. **Why It Matters:** - Reinforces the idea that all members of the Church, not just the clergy, have a role in its mission. - Allows the teachings of the Church to be integrated into various sectors of society through the actions and lives of laypeople. - Recognizes the importance of secular professions and activities as arenas for Christian witness and service. - Encourages active participation and co-responsibility of laypeople in the life and mission of the Church.

According to Alexendr Havard, how is realism different from cynicism, idealism, or skepticism?

**Realism**: - **Definition**: Recognizing things as they truly are and acting accordingly. - It's a balanced perspective, acknowledging both the limitations and potentials of situations. - Encourages leaders to confront challenges head-on while remaining hopeful about achieving positive outcomes. - Based on a belief in the intrinsic worth of every individual and the capacity for growth and transformation. **Cynicism**: - Views situations with distrust, often believing that people are motivated solely by self-interest. - Tends to see the negative aspects of situations and dismisses genuine efforts or positive intentions. - A form of self-protection against disappointments. **Idealism**: - **Definition**: A belief or pursuit of noble ideals, often unrealistically so. - Can be out of touch with the practical realities of a situation. - While it can inspire and motivate, taken to an extreme it can lead to disappointment when ideals aren't realized. **Skepticism**: - **Definition**: A questioning attitude or doubt towards accepting something as true. - Can lead to indecision or inaction because of a reluctance to commit without complete proof. - When applied constructively, it encourages critical thinking and examination. When excessive, it can paralyze action or prevent trust. According to Havard, a virtuous leader is rooted in realism. This means they recognize and confront the challenges before them, but they also remain hopeful and believe in the potential for positive outcomes. Realism, as understood by Havard, avoids the pitfalls of cynicism (which can become too negative and distrustful), idealism (which might overlook practical challenges), and skepticism (which may inhibit action).

According to Benedict XVI, what is the role of the Church and the state in pursuing justice? Is social justice enough, or do we need something more?

**Role of the Church and the State in Pursuing Justice**: 1. **Church's Role**: - Proclaim the Gospel, inherently advocating for justice and love. - Shape the moral conscience of believers. - Champion the dignity of all, especially the marginalized. - Provide moral guidance without wielding political power. 2. **State's Role**: - Enact policies for the common good and well-being of all. - Protect human rights, especially for the vulnerable. - Ensure equitable distribution of resources. - Foster a culture of peace and mutual respect. **Is Social Justice Enough?**: - Justice should go beyond just material needs; it must recognize each person's inherent dignity. - Charity (love) is vital, adding personal concern to the concept of justice. - True justice acknowledges the spiritual dimension of humanity. - A blend of social justice with ethical and spiritual values ensures a more holistic approach. Benedict XVI emphasizes that while social justice is crucial, it needs the warmth of charity and recognition of spiritual dignity for completeness. Both the Church and state play pivotal but distinct roles in this endeavor.

What is shareholder theory? What are some arguments for or against it? Who makes these arguments?

**Shareholder Theory**: Shareholder theory, often associated with Milton Friedman, posits that the primary duty of a corporation is to its shareholders, with its main objective being to maximize shareholder value / Using the resources of the corporation to increase the wealth of the latter by seeking profits (KRISTOL = YES) social justice is a term used to justify public, and government intervention into private-sector problems the state intervening in trying to create "social" justice leads to the limitation of human freedom (FRIEDMAN =YES) the manager of a corporation is the agent of the principals (the shareholders) the agent has a moral obligation to fulfill their promise to the principals (to maximize profits so long as it does not conflict with applicable laws or ethical customs) (STOUT = NO) **Risks of Short-Termism**: By focusing solely on shareholder value, especially in the context of modern financial markets, companies can become nearsighted and prioritize short-term stock price increases at the expense of long-term corporate health and stability. **Role of Other Stakeholders**: Stout acknowledged the importance of other corporate stakeholders, such as employees, customers, creditors, and the broader community. She posited that considering these stakeholders could lead to more sustainable and successful corporate strategies in the long run. **Moral and Ethical Concerns**: Beyond legal and strategic arguments, Stout suggested that an excessive focus on shareholder value could lead companies to make decisions that, while possibly legal, are ethically questionable or detrimental to society.

What is stakeholder theory? What are some arguments for or against it? Who makes these arguments?

**Stakeholder Theory**: Stakeholder theory = organizations and corporations should strive to do right by all their stakeholders (customers, suppliers, employees, communities and financiers, shareholders, banks) and that in doing so, the organization will achieve true, lasting success (STOUT = YES) shareholders don't own corporations → corporations own themselves. Shareholder primacy is a bad return in the long run. There is no single "shareholder value" "satisficing" is a way to serve the interests of many different types of stakeholders "satisficing" : pursuing multiple objectives and aiming to do reasonably well in each of them, rather than solely maximizing a single objective. (FRIEDMAN= NO) To spend another's money for the sake of "general social interest" is to impose a tax on those persons" Friedman argued that the primary responsibility of a business is to its shareholders, and its principal objective should be to maximize profits, as long as it's within the bounds of the law and ethical customs. Rather than businesses voluntarily acting against their profit motive to serve societal interests, Friedman argued that any societal goals should be imposed by democratic means, typically through laws and regulations. It's the government's role to address social issues, not businesses. (McCKLOSKEY and MINGARDI =NO) "A price on the stock market does a better job of getting the long-term right than a committee of busybodies from the outside." "For a market economy to work, people do not need to be perfectly informed on what is going

Is it possible to have control over one's emotions? Is one blameworthy or praiseworthy for her emotions? Why or why not?

- Temperance involves moderating desires and achieving balance in the use of pleasures and goods. - It can extend to emotional control to some extent. - People can develop self-control and emotional regulation skills. **Blameworthy or praiseworthy for emotions:** - Praiseworthy when exercising self-control, maintaining emotional balance, and responding virtuously. - Initial emotional reactions are often involuntary and not blameworthy. - Focus on how individuals handle and express emotions.

Virtue vs. Rules - Barry Schwartz

1) Rules require enforcement a. External punishment can crowd out internal motivation 2) Rules are a blunt instrument when it comes to judging whether a practice is on track and what compromises an institution can make to assure survival

Diseases of Leadership applied to the Wells Fargo Case Study

- Wells Fargo scandal involved unauthorized accounts opened by employees. - Enrolled them in various banking products and services without their permission / The unauthorized accounts often incurred fees, such as overdraft charges and maintenance fees, which harmed customers financially. - Sales quotas and incentives drove unethical behavior. - Customers were harmed with fees and damaged credit scores. - The bank faced legal consequences and regulatory fines. - Whistleblowers faced retaliation, highlighting a toxic culture. Immortality Syndrome: The scandal at Wells Fargo revealed a corporate culture that seemed to prioritize short-term profits over long-term sustainability. The leadership may have exhibited a sense of invincibility, believing they could continue with unethical practices without consequences. Excessive Busyness: The aggressive sales targets and pressures on employees to meet them might have led to excessive busyness, with employees feeling compelled to engage in unethical practices to meet unrealistic goals. Poor Coordination: There appeared to be a lack of coordination and oversight within the organization, as the scandal involved thousands of employees engaging in fraudulent activities without sufficient checks and balances in place. Indifference to Others: The unethical practices, such as opening unauthorized accounts for customers, demonstrated an indifference to the well-being and interests of customers.

What should characterize a society conducive to business, according to Pius XII?

-No excessive taxation -Laborer is respected as a member of society with dignity (122) -Fair competition -No complicated or regimented obstacles -Some (limited) social security -Increasing material goods should be oriented to spiritual development, free from selfish motives, and give generously to those in need (121) 1. **Moral Integrity**: Honest and fair business operations. 2. **Dignity of Work**: Just wages and good working conditions. 3. **Subsidiarity**: Local decision-making in business matters. 4. **Common Good**: Business benefits for all society members. 5. **Private Property**: Protected but serving societal good. 6. **Balanced Wealth**: Avoiding extreme wealth disparities. 7. **Harmony and Cooperation**: Collaboration among economic players. 8. **Family Support**: Business practices that uphold family values.

What are SOME of the twelve steps of humility in the Rule of Saint Benedict?

1. **Fear of God**: Recognize that God is always watching and adjust your actions accordingly. 2. **Self-Denial**: Not to do one's own will or seek one's own pleasure. 3. **Obedience**: Submit to superiors willingly and unconditionally, viewing them as representatives of God. 4. **Patient Endurance**: Accept suffering and difficult situations without growing weary or retreating. They emphasize the importance of self-awareness, self-discipline, and a gradual detachment from worldly desires. Ultimately, these steps aim to help individuals achieve a state of inner peace, humility, and a closer connection with God through self-transformation and a focus on spiritual growth.

According to Clayton Christensen, what three questions should every businessperson ask herself, and why do these matter?

1. **How can I be sure that I'll be happy in my career?** - This question emphasizes the importance of job satisfaction and fulfillment. Christensen argues that while immediate compensations like salary might provide short-term pleasure, long-term job satisfaction comes from intrinsic motivation, such as the alignment of the job with one's passions, strengths, and larger purpose. 2. **How can I be sure that my relationships with my spouse and family become an enduring source of happiness?** - Personal relationships, particularly with family, are foundational to an individual's overall well-being. Christensen highlights that nurturing these relationships requires deliberate effort, understanding, and prioritization. Investing time and energy in family can provide lasting happiness and stability. 3. **How can I be sure I'll stay out of jail?** - While the question might seem facetious, Christensen uses it to underline the significance of integrity and ethical decision-making. Small compromises in personal and professional ethics can snowball over time, leading to significant moral lapses. By setting and sticking to ethical boundaries, individuals can ensure they act with integrity throughout their lives. These questions matter because they guide individuals toward a life that's not just successful in conventional terms but also fulfilling and morally sound. Christensen's emphasis is on long-term satisfaction, enduring happiness, and ethical integrity, which, in his view, are pivotal for a life well-lived.

Extrinsic vs Intrinsic forms of motivation

1. **Intrinsic Motivation**: - **Definition**: Intrinsic motivation comes from within an individual. It's the motivation derived from personal satisfaction or a sense of inner fulfillment. - **In Context of Virtue and Morality**: Being virtuous or moral because it aligns with one's personal values, beliefs, or sense of self. Acting morally not for any external reward or recognition but because one genuinely believes it's the right thing to do or finds inherent joy in being virtuous. - **Example**: Someone might help others because it brings them personal joy and fulfillment, or they genuinely believe in the importance of kindness, irrespective of any external factors. 2. **Extrinsic Motivation**: - **Definition**: Extrinsic motivation is driven by external factors or influences. It's the motivation to act based on external rewards or to avoid negative consequences. - **In Context of Virtue and Morality**: Acting virtuously or morally because of external factors such as societal praise, rewards, avoiding punishment, or societal pressure. The focus is on the consequences of the action rather than the action's inherent value. - **Example**: Someone might avoid lying not because they believe lying is wrong, but because they fear societal judgment, punishment, or to gain a good reputation. When examining virtue and morality, intrinsic motivation aligns more closely with the idea of acting morally for its own sake because it's genuinely valued. In contrast, extrinsic motivation aligns with acting morally due to societal or external pressures and rewards. Both forms of motivation can lead to moral behavior, but they stem from different reasons and can have different implications for personal moral development and authenticity of actions.

Define the logic of exchange, the logic of the gift, and the logic of the market in Caritas in Veritate (Love or Charity in Truth)

1. **Logic of Exchange**: - Refers to the reciprocal relationship in markets where goods, services, or values are traded between parties. - Each party gives to receive, ideally of equal or greater value. - Tied to justice, ensuring fair benefits for both parties. 2. **Logic of the Gift**: - Goes beyond transactional relationships, emphasizing self-giving and generosity. - Echoes God's unconditional love, highlighting human relationships and the common good. - Should be integrated into economic activities, introducing selflessness and altruism. 3. **Logic of the Market**: - Refers to market mechanisms where prices are determined by supply and demand. - Can allocate resources and drive innovation. - Must be guided by a strong juridical framework and ethical considerations to prevent inequalities and exploitation. In "Caritas in Veritate," Pope Benedict XVI emphasizes complementing markets and exchange with the logic of the gift, ensuring economic activities promote human development, dignity, and the common good rooted in justice and love.

Why do Havard, Sison et al., Mattison, and others argue that a rules-based approach to ethics is not sufficient?

1. **Shallow Moral Understanding**: Relying solely on rules can lead to a superficial grasp of morality. Without understanding the underlying values and principles, moral decisions may become mechanical and lack personal conviction. 2. **Lack of Flexibility**: Ethical dilemmas are complex and nuanced. Strict adherence to rules may limit the ability to address unique situations or consider broader implications. 3. **Overemphasis on Negative Prohibitions**: Rules often focus on what not to do. This approach may neglect fostering positive virtues and proactive ethical behavior. 4. **Freedom of Indifference vs. Freedom for Excellence**: - **Freedom of Indifference**: Viewing freedom as unconstrained choice. In a rules-based system, this may result in mere compliance without internalizing deeper significance. - **Freedom for Excellence**: The freedom to pursue the good, develop virtues, and reach full potential. It goes beyond rules, emphasizing internalization and virtuous living. 5. **Development of Virtues**: Many ethicists advocate for a virtue-based approach, prioritizing the cultivation of good character over rule-following. Virtues guide ethical decisions holistically and align with one's character. 6. **Moral Creativity**: A rules-based approach may hinder moral creativity, limiting the ability to address new and unforeseen ethical challenges. In summary, while rules provide a foundation for ethical behavior, they may not fully foster moral development and decision-making. A comprehensive understanding of ethics encompasses virtues, principles, and an orientation towards human flourishing.

What is eudaimonia ?

A system of ethics that evaluates actions in terms of their capacity to produce happiness. <It comes from "eu" ("good") and "daimōn" ("spirit"), and has its most influential expression in Aristotle's Nicomachean Ethics (c. 330 BC)>

What qualities characterize the good abbot/abbess according to Saint Benedict of Nursia?

1. **Spiritual Leader**: The abbot/abbess is the spiritual father/mother of the monastic community, guiding the monks or nuns in their spiritual journey and ensuring the observance of the Rule. 2. **Final Authority**: The abbot/abbess holds the ultimate authority in the monastery. All important decisions, including admissions and expulsions, are made by them. 3. **Teacher and Disciplinarian**: They are responsible for the instruction of the monks or nuns and for maintaining discipline within the community, correcting those who stray. 4. **Role Model**: The abbot/abbess should lead by example, embodying the virtues and values of monastic life and setting a standard for the rest of the community. 5. **Consultation**: While holding authority, the abbot/abbess is also encouraged to consult with the community, especially the senior members, before making significant decisions. 6. **Caregiver**: They are to show care and concern for each member, being mindful of individual needs and ensuring the well-being of all. 7. **Accountability to God**: The Rule reminds the abbot/abbess that they will be held accountable to God for the souls of their monks or nuns, emphasizing the gravity and responsibility of their role. 8. **Equity**: The abbot/abbess should treat all monks or nuns with fairness, showing no favoritism and ensuring that all are given equal opportunity for spiritual growth. The Rule of Saint Benedict outlines a vision of communal life where the abbot or abbess plays a central role, guiding and leading the community towards spiritual growth and harmony.

According to Fides et Ratio -Who are we as human beings? -Why does the search for truth matter? -What are different ways of coming to know the truth?

1. **Who Are We as Human Beings?** - Human beings are created in the image and likeness of God, granting them unique dignity and rational capability. - Our innate nature drives us to seek truth, ask profound questions about existence, and strive for understanding and wisdom. - Humans, through reason and reflection, have the unique ability to seek and recognize truth, especially concerning God, the self, and the world. 2. **Why Does the Search for Truth Matter?** - Truth is fundamental to human freedom and fulfillment. By recognizing and living in accordance with truth, humans find genuine freedom and realize their full potential. - Without truth, human actions and freedoms become meaningless or misguided. Knowing the truth anchors our actions in a deeper understanding of reality. - The search for truth leads us closer to God, the ultimate Truth. The pursuit of truth, particularly about God, profoundly influences how one lives. 3. **Different Ways of Coming to Know the Truth**: - **Reason**: Human rationality allows us to analyze, deduce, and draw conclusions about the world. Philosophy, sciences, and arts provide avenues for reason to operate. - **Faith**: Revealed through religious experiences, sacred scriptures, and traditions. Faith provides insights into truths that may surpass the grasp of reason alone. a. Scientific truth: based on immediate evidence or confirmed by experimentation b. philosophical truth: attained through the powers of human intellect c. religious truths: grounded in philosophy, offered by religious traditions to address ultimate questions "Fides et Ratio" emphasizes that faith and reason are not contradictory but complementary. Both are crucial for realizing truth fully. By harmonizing faith and reason, humans can navigate the complexities of existence and draw closer to the ultimate Truth,

Moral Profile of a Leader According to Havard

Alexandre Havard, founder of the Virtuous Leadership Institute and author of "Virtuous Leadership: An Agenda for Personal Excellence," emphasizes leadership grounded in virtue and character. According to Havard, key virtues for leaders include: 1. **Magnanimity**: aspiring to greatness, aiming for excellence, and making a significant impact. 2. **Humility**: recognizing limitations, valuing others, and being open to learning and growth. 3. **Prudence**: making right decisions through discernment, foresight, and good judgment. 4. **Courage**: taking risks, facing challenges, and remaining steadfast in doing what's right. 5. **Self-control**: mastering passions, impulses, and emotions to align actions with values. 6. **Justice**: being fair, respectful, and committed to treating everyone with dignity. 7. **Wisdom**: deep understanding of people, situations, and principles that promotes the common good. For Havard, true leadership stems from character, cultivated through these virtues. Leaders embodying these virtues inspire and uplift others, contributing to personal and collective flourishing.

Why does Barry Schwartz and/or our other authors think businesses need virtue?

Barry asserts that we have lost certain rich institutions and structures that provided constraints on our worst impulses in the economic realm, thus giving rise to the tolerance of public vices in business practice. Other authors, like Pius XII, James Otteson and Clayton Christensen agree. Trust and Reputation: Virtue enhances trust and reputation. Employee Engagement: Virtuous practices boost employee engagement. Customer Loyalty: Ethical businesses attract and retain loyal customers. Sustainability: Virtue contributes to long-term business sustainability. Positive Impact: Virtuous companies can have a positive societal impact. Ethical Leadership: Ethical leaders set the tone for the organization. Ethical Risk Mitigation: Virtuous businesses ethically mitigate risks. Innovation: A culture of virtue can foster innovation. Business is a practice that require institutions to support them and protect them from the goal of "trying to survive" → should be structured to encourage human flourishing Virtue in business is not only a moral imperative but also a practical approach that can lead to long-term success, trust, and sustainability. By operating with integrity and ethical principles, businesses can create a positive impact on society and strengthen their relationships with stakeholders.

What is behavioral ethics? What is bounded ethicality?

Behavioral ethics is a field that draws inspiration from Behavioral Economics and utilizes observation and psychological research to examine ethical decision-making. Unlike normative ethics, which focuses on how people ought to behave, behavioral ethics is descriptive, aiming to understand how people actually behave in ethical situations. One key finding within behavioral ethics is the concept of "bounded ethicality," which acknowledges that individuals may not always make consistently ethical choices due to cognitive limitations and other factors. Bounded Ethicality: Bounded ethicality is the idea that our ability to make ethical choices is often limited or restricted because of internal and external pressures: Believing in Ethical Behavior: People may assume that because they perceive themselves as ethical individuals, their behavior will inherently align with ethical principles. This overconfidence can lead to unintentional unethical actions. Unconscious Biases: Individuals may hold unconscious biases or prejudices that influence their decision-making without them being aware of it. These biases can lead to unethical behavior. Conflicts of Interest: Situations where personal interests conflict with ethical principles can create ethical blind spots. The desire for personal gain or advancement may lead individuals to compromise their ethical standards. Behavioral Ethics and the Ford Pinto Scandal: Behavioral ethics can shed light on the Ford Pinto scandal by examining decision-making processes and ethical lapses. It offers insights into how individuals prioritize factors like cost savings or corporate interests over safety and ethics.

Relativism

Belief that moral principles vary by culture or personal preference. No universal moral standards.

What is a just wage, according to Catholic Social teaching? What questions should be taken into account when trying to quantify such a wage?

Catholic social tradition (CST) is quite explicit that a just wage provides a decent life for the worker, starting with but also going beyond a good paycheck to include regular and reasonable hours, a safe and healthy work environment, and an overall employment scenario providing resources for self-development both at work and outside of work. (for the entire household) Principles for Determining a Just Wage (according to CST): Mutual agreement does not necessarily imply justice. Wages should cover basic needs. Rights due to human dignity. Consideration of individual needs and contributions. Wages should not threaten business survival. Wages should encourage employment and reduce unemployment. Support for family wage or allowances. Solidarity and subsidiarity in governing business and government roles. Not solely left to market operations.

Is compliance with ethics codes enough for ethical behavior? Why or why not?

Compliance with ethics codes alone is insufficient for ethical behavior, as highlighted by the authors. Reasons include: Moral Character Development: Ethical conduct requires internalizing virtues beyond rule-following. Habituation of Virtue: Ethical behavior involves consistent practice of virtues. Human Dignity and Common Good: Ethical actions should respect dignity and benefit society. Integrity and Authenticity: Ethical behavior reflects genuine commitment, not mere compliance. Ethical Leadership: Leaders should inspire virtue, fostering an ethical culture. In summary, while compliance with ethics codes is a necessary foundation for ethical behavior, it is not sufficient on its own. True ethical behavior requires the development of moral character, the habitual practice of virtues, alignment with ethical principles, authenticity, and ethical leadership. These elements collectively contribute to a more comprehensive and genuine commitment to ethical conduct.

Define consumerism and describe some of its aspects and qualities (consider William Cavanaugh [optional], Pope Francis, and John Paul II)

Consumerism is excessive consumption driven by a culture valuing material possessions and personal gratification. It includes: Materialism: Prioritizing material wealth and possessions for happiness and status. Endless Consumption: A cycle of constant buying and upgrading, contributing to a throwaway culture. Individualism: Emphasizing personal desires over communal values. Commodification: Treating relationships, experiences, and nature as commodities. Excessive Advertising: Creating desires for unnecessary products. Environmental Impact: Depleting resources and causing pollution. Economic Inequality: Aggravating disparities in wealth. Superficiality: Prioritizing appearance and trends over deeper values. Pope Francis and John Paul II critique consumerism and call for balanced, responsible consumption with an emphasis on solidarity, environmental stewardship, and human dignity. William Cavanaugh explores how consumer culture shapes desires and relationships.

What are Cremers' three "c's" of business, and can you discuss their relation to one another?

Contribute: Business should contribute to human well-being by providing goods and services that meet people's needs and enhance their lives, reflecting the Catholic principle of serving others and respecting human dignity. Cooperate: Cooperation in business emphasizes collaboration, teamwork, and ethical interactions among stakeholders, aligning with Catholic values of solidarity and working for the common good. Compete: While competition is important in business, it must be guided by ethics to achieve material, moral, and social excellence, ensuring that it does not lead to unethical practices that undermine the other two principles. These principles underscore the importance of ethical and responsible business practices in serving both individual and societal needs while upholding Catholic values.

Why can curiosity be a vice? What virtue is opposed to, and what kinds of curiosity are there, according to Bradford Littlejohn?

Curiosity as a Vice: Opposed Virtue: Curiosity can be a vice when it is not tempered and lacks virtuous qualities. Virtues defending against curiosity as a vice are prudence or temperance, as they promote measured and responsible inquiry. Types of Curiosity According to Bradford Littlejohn: Objects of Knowledge (Curiosity can err in the objects of knowledge, leading to various forms of vice) : Arrogant Curiosity: Desiring knowledge of things that only God can know, displaying arrogance in seeking beyond human limits. Meddling Curiosity: Involves prying into matters that are not meant for us to know, often associated with gossip and a lack of boundaries. Distracting Curiosity: Pertains to knowledge that may be suitable for us but is not relevant or timely at the moment. Mode of Knowledge (Different modes of curiosity can also lead to vice) : Intemperate Curiosity: Involves an excessive and feverish desire for knowledge, which can lead to immoderate behavior. Impertinent(irrelevant) Curiosity: Concerns seeking certainty in matters where certainty cannot be attained, leading to frustration and anxiety. Shallow Curiosity: Involves only a superficial interest in knowledge, quickly moving on from one topic to another without depth. End (Purpose) of Knowledge (Curiosity can become a vice when the purpose of knowledge is skewed) : Possessive Curiosity: Occurs when individuals seek knowledge to privatize the truth and take pride in their own knowledge, fostering a possessive attitude.

What would be needed for Ryan's proposals for social reform to work? Was he successful? Why or why not?

For Msgr. John Ryan's proposals for social reform to work, several conditions would be needed, including ethical transformation, collaboration, legislation, education, and economic stability. While Ryan had some influence and partial success in advancing social justice principles, his vision faced challenges and limitations. Partial reforms were implemented, but the full scope of his ideas was not realized during his lifetime. However, his work continues to inspire discussions about economic and social justice.

Define the various parts of courage.

Definition of Courage: Courage is the ability to confront difficulties, risks, and dangers with confidence. Types of Courage: moral courage (standing up for what's right) physical courage (facing physical threats) emotional courage (managing emotions in tough situations). Courage and Truth: Courage involves upholding moral truths, even when unpopular, as seen in Martin Luther King Jr.'s actions. Thomas Aquinas on Fortitude: It's about overcoming obstacles and curbing fear and daring. Barriers to Courage: Fear of retaliation, futility, and negative consequences can hinder courage. Strategies for Courage: Embrace emotions, find role models, rehearse, and leverage strengths. Role of Leaders: Leaders foster a culture of courage by seeking feedback, setting an example, and preventing retaliation. Courage as "Just Say No" (Havard): Havard identifies courage against various vices and promotes virtues like magnanimity, humility, justice, prudence, temperance, and fortitude.

Why does Msgr. John Ryan argue that socialism is flawed? Is it possible to support a "reformed" socialism?

Deprivation of Opportunity: Socialism, in Ryan's view, deprives individuals of the opportunity to invest their savings in land and improve their condition in life. Lack of Incentive: He contends that socialism destroys individual incentive, leading to a loss of independence, self-reliance, and self-respect. Inefficient Production: Ryan believes that socialism cannot provide the necessary motives for efficient and sufficient production. People may not work as hard for the common good as they do for personal gain. Bureaucratic Power: He argues that socialism gives excessive political and economic power to bureaucrats. Inadequate Transformation: Ryan suggests that socialism cannot automatically transform human motivation from egoism to altruism. As for supporting a "reformed" socialism, Ryan's perspective leans more toward reforms within a capitalist framework rather than endorsing socialism as a solution. He emphasizes the importance of individual action and state action to address social and economic injustices while upholding the principles of justice, charity, and the common good.

Virtue Ethics (Plato and Aristotle)

Develop virtues and determine conduct by those virtues.

Why are the works of mercy a "scandal" according to Dorothy Day?

Dorothy Day viewed the works of mercy (feeding the hungry, clothing the naked, sheltering the homeless, etc.) not only as essential Christian duties but also as radical acts that challenged the prevailing socio-economic systems. To Day, these acts are a "scandal" in multiple senses: 1. **Challenge to Societal Values**: In a society driven by materialism and individualism, prioritizing the needs of the marginalized and impoverished is countercultural. Engaging in the works of mercy directly counteracts societal norms that often prioritize profit over people. 2. **Indictment of the System**: The very need to perform the works of mercy highlights the failures of a society to care for its most vulnerable members. It's a "scandal" that such acts are necessary in the first place. 3. **Personal Sacrifice**: Day believed that true commitment to the works of mercy required personal sacrifice, which could be "scandalous" to those who valued personal comfort and security (we choose to work out, pay exorbitant amounts money for our favorite meals, novelty items etc. but personal sacrifice in service of others is considered a stretch to many) 4. **Radical Love**: The unconditional love and solidarity shown to the marginalized through the works of mercy can be "scandalous" in a society that often places judgment upon people based on their socio-economic status or utility (resistance is challenging) Dorothy Day's use of the term "scandal" in connection with the works of mercy is a powerful critique of both societal values and systemic injustices, emphasizing the radical nature of Christian love and service.

What does Dorothy Day mean when she says that it is "by little and by little that we are saved?"

Dorothy Day, a prominent Catholic social activist and co-founder of the Catholic Worker Movement, emphasized the significance of small actions, personal commitment, and the daily sacrifices in one's spiritual journey and service to others. When she says, "by little and by little that we are saved," she is highlighting several ideas: 1. **Incremental Progress**: Spiritual growth and social change often come about through small steps, not just grand gestures or sudden transformations. 2. **Daily Commitment**: Every day provides opportunities for acts of charity, kindness, and self-sacrifice, which contribute to our salvation and the betterment of the world. 3. **Personal Responsibility**: Each individual has a role in bringing about the Kingdom of God on earth, even if it's through seemingly minor acts of love and service. 4. **Value of the Ordinary**: The mundane and ordinary moments of life are where most people find opportunities for virtue and grace. Day's emphasis on "by little and by little" is a call to recognize the value of consistent effort, the importance of small acts done with great love, and the cumulative effect of our daily choices in our journey towards salvation and creating a just society.

Discuss some strategies for improving ethical behavior.

Ethical Training: Provide ethics training to employees. Clear Policies: Develop and communicate ethical policies. Whistleblower Protection: Establish mechanisms for reporting concerns. Ethical Leadership: Demonstrate and expect ethical behavior from leaders. Accountability: Hold individuals responsible for unethical actions. Ethics Committees: Form teams to review ethical issues. Transparency: Share information openly within the organization. Ethical Incentives: Reward ethical conduct and decision-making. Continuous Evaluation: Regularly assess and adjust ethics programs. Stakeholder Engagement: Involve stakeholders in ethical discussions. Codes of Conduct: Develop and adhere to ethical codes of conduct. Moral Support: Create a culture that encourages ethical discussion

What is honorable business, according to James Otteson?

From James Otteson: one part of our "final end" is living in a just and humane society His argument: 1) We want a just and humane society 2) A just and humane society depends on a variety of social institutions, including political, moral, economic, cultural, and civic institutions 3) Included in those institutions is a properly functioning market economy 4) A properly functioning economy requires honorable business 5) Honorable business includes industries, firms, and individual business people creating value. Business should create value for all of its stakeholders. He suggests that businesses should aim to not only generate profit for their owners but also to benefit employees, customers, suppliers, and society as a whole. In his view, businesses should operate in a way that respects individual rights and fosters cooperation and mutual benefit, ultimately contributing to human flourishing and societal well-being. Otteson's perspective emphasizes the ethical and social responsibilities of businesses in addition to their economic objectives. **honorable business = firms creating genuine value, and engaging in mutually voluntary, mutually beneficial, positive-sum transactions → contribute to a just and humane society** Emphasizes: - Respect for Property Rights - Voluntary Exchange - Mutual Benefit - Honesty and Transparency - Long-Term Perspective - Respect for Rights and Dignity - Rule of Law - Responsibility and Accountability

What does the HEXACO research from Taya Cohen conclude about good employees and managers?

Good Employees: High Honesty-Humility: Good employees are honest, sincere, and devoid of greed or manipulation. They are trustworthy, dependable, and unlikely to engage in unethical actions. High Emotionality: These employees have a strong emotional connection to their work and colleagues. They are empathetic, understanding, and foster positive relationships and teamwork. High Conscientiousness: Good employees are reliable, diligent, and have a strong work ethic. They take their responsibilities seriously, meet deadlines consistently, and pay attention to detail. Good Managers: High Honesty-Humility: Effective managers prioritize the well-being of their team and the organization. They exhibit honesty, sincerity, and integrity. High Emotionality: Good managers are empathetic and emotionally connected to their team. They actively listen, understand needs, and provide support when needed. High Agreeableness: Managers with high agreeableness are cooperative, patient, and skilled in conflict resolution. They create a harmonious work environment and value input from their team. High Conscientiousness: Effective managers are organized, responsible, and detail-oriented. They excel in task management and ensure productivity and accountability. *Good leaders have high levels of guilt-proneness, making them sensitive and responsible for their subordinates' needs.*

Purpose of Business - Pius XII

His argument: 1) Innovation and enterprise are innate to human beings (creativity) 2) Business and labor is an expression of these innate values 3) Through labor, the human being fulfills moral, personal, familial, social obligations. 4) Fulfilling these obligations is valuable, for oneself and for others. - Pope Pius XII emphasized that the purpose of business should align with principles of social justice and the common good. - Business should not prioritize profit at the expense of the well-being of individuals and society. - Respect for the dignity of workers, fair wages, and good working conditions are essential in business. - Business should be rooted in local communities and serve their needs, following the principle of subsidiarity. Overall, business should contribute positively to the flourishing of society and uphold principles of solidarity.

What virtues should a good businessperson exhibit, according to Pius XII?

Honesty and Truthfulness: Pope Pius XII emphasized the importance of honesty in business dealings, urging truthfulness and integrity in all transactions. Justice: Fair and equitable treatment of employees, customers, and stakeholders is a key virtue in business, according to Pope Pius XII. Charity and Compassion: Pope Pius XII called for kindness and concern for others in business relationships, highlighting the social impact of decisions. Solidarity: Pope Pius XII stressed unity and interconnectedness in business, emphasizing contributions to the common good of society. Prudence: Wise and morally sound decision-making is essential in business, considering long-term consequences. Temperance: Pope Pius XII urged moderation and self-control in the pursuit of wealth and success, avoiding excessive greed. Fortitude: Business resilience requires courage and determination, even in the face of challenges, as emphasized by Pope Pius XII. Prayer and Spirituality: A strong connection with God through prayer guides business decisions and actions, according to Pope Pius XII.

Why does "purpose" matter for Christensen?

In "How Will You Measure Your Life?", Clayton Christensen underscores the importance of "purpose" for several profound reasons: 1. **Foundation for Decisions**: A clear sense of purpose provides a stable foundation upon which life's important decisions can be made. When faced with choices or crossroads, understanding one's purpose can serve as a guiding compass. 2. **Long-term Fulfillment vs. Short-term Gains**: Christensen observes that many people might prioritize short-term achievements or tangible rewards, like promotions or salary hikes. However, these often don't lead to long-term fulfillment. Purpose pushes individuals to seek deeper, more enduring sources of happiness and satisfaction. 3. **Guard Against Ethical Drift**: One of Christensen's central arguments is about the risks of "marginal thinking," where small compromises can lead to significant moral missteps over time. A strong sense of purpose ensures that one's moral and ethical boundaries are clear, preventing unintended drifts from one's core values. 4. **Motivation and Resilience**: Purpose serves as a powerful motivator. When individuals are aligned with their purpose, they tend to be more resilient, persistent, and enthusiastic in their endeavors, even when facing challenges or setbacks. 5. **Relationships and Commitment**: Christensen emphasizes that purpose isn't just about individual achievement but also about how one relates to others. A clear purpose often entails commitments to family, community, or larger causes, which can bring profound meaning and happiness. 6. **Legacy and Impact**: For Christensen, considering how one might measure their life involves contemplating the legacy one leaves behind. A life driven by purpose is more likely to have a positive, lasting impact on others and the world. In essence, for Christensen, purpose matters because it's integral to a life that's not only successful in material or societal terms but also meaningful, fulfilling, and guided by integrity and values.

What is solidarity according to John Paul II in Solicitudo Rei Socialis?

In "Solicitudo Rei Socialis," Pope John Paul II defines solidarity as: More Than Compassion: Solidarity is not just a feeling of compassion or distress for others' misfortunes. It is deeper and more active. Commitment to the Common Good: Solidarity involves a firm and persevering determination to commit to the common good, meaning the good of all individuals and society as a whole. Responsibility for All: It emphasizes a sense of responsibility for everyone, recognizing that every individual's actions impact the larger community. Beyond Economic Obstacles: While acknowledging economic barriers to development, it also stresses the need for new spiritual attitudes. Virtue of Solidarity: Solidarity is characterized as a moral and social virtue, essential for ethical behavior and societal well-being. Responsibility of the Influential: Those who are more influential or powerful have a particular responsibility to support and share with the weaker or less fortunate. Christian Dimension: In a Christian context, solidarity takes on the dimensions of total gratuity, forgiveness, and reconciliation. It views others not just as equals but as the living image of God, deserving of love and respect. Person-Centered Economy: The call is for an economy that focuses on the human person, prioritizing human dignity and welfare over mere profit and power. Beyond Commutative Justice...Solidarity implies we need Distributive Justice

According to Fanfani, Catholicism and capitalism seem in many cases to uphold the same common virtues. What is the difference between them?

In capitalism, these virtues have different meanings, different origins, and different ends a. Private property: right to use vs. right to possess b. Respect of personality: human dignity vs. human autonomy c. Limitation of absolutism: cooperation vs. individualism d. The value of hard work: as penance and homage to God vs. as means to success and a lack of trust in Providence. e. Honesty: to avoid offending God vs. maintaining a good reputation f. Liberality: to be stewards of God's goods vs. human order

According to John Ryan, what individual and state action is needed to establish and secure a socially just order?

Individual Action: Honest and Equitable Agreements: Individuals should engage in fully honest and equitable agreements in their economic transactions. Refraining from Violence: Non-violence is essential in personal interactions and economic relationships. Recognition of the Limits of Private Property: Individuals should recognize the limitations on private property rights and avoid excessive exploitation. Right to Organize and Strike: Workers have the right to organize into labor unions and engage in strikes when necessary to protect their rights and interests. Formation of Cooperatives, Associations, and Guilds: Workers should consider forming cooperatives, associations, and guilds in various industries to collectively address economic and labor issues. State Action: State Intervention: The state has a role in intervening to address social and economic injustices, particularly for the poor and marginalized. Protection of Rights: The state should protect the rights of workers, including the rights to strike, practice religion, and enjoy rest. Regulation of Working Hours: Government regulation of working hours to ensure fair and reasonable conditions for workers. Living Wage: There should be legislation to ensure that all employees, both male and female, receive a living wage, which is based on the intrinsic worth and dignity of the worker. Social Insurance: The state should provide social insurance programs for unemployment, accidents, sickness, and old age to provide security for workers. Breaking Monopolies: Government should take measures to break down monopolies and promote fair competition in the market. Taxation: Consider increasing taxes on medium and large incomes to fund social programs and address income inequality.

What strategies can be pursued within a company to encourage courage, transparency, and honesty in the workplace?

Lead by Example: Leaders should set a precedent by openly discussing ethics and demonstrating honesty. Feedback Channels: Establish open-door policies, suggestion boxes, or anonymous hotlines for employees to voice concerns. Recognition: Acknowledge and commend employees who report issues, fostering a culture of appreciation. Zero Retaliation: Make it clear that retaliation against whistleblowers is unacceptable. Reduce Hierarchy: Create an environment where power dynamics don't inhibit employees from sharing thoughts. Feedback Loop: Provide feedback on actions taken in response to concerns to ensure transparency. Role Models: Encourage employees to identify ethical role models within the organization. Ethics Training: Regularly educate employees on company values and the importance of honesty. Skill Development: Equip employees with the skills to address ethical dilemmas effectively. Inclusivity: Involve employees in decision-making processes when relevant. Ethical Framework: Communicate a clear ethical framework outlining company values. Support Networks: Establish forums for employees to discuss ethical matters and seek guidance. Anonymous Reporting: Offer anonymous reporting options to protect those who fear retaliation. Policy Updates: Periodically review and update ethical policies to stay current. Transparency Initiatives: Promote transparency through open-book management or financial disclosure. Conflict Resolution: Implement a fair and transparent conflict resolution process. Ethical Tools: Provide decision-making tools and ethical frameworks to help employees navigate complex situations.

What personality traits do the best and most successful leaders possess?

Magnanimity (Havard) - Quality of being generous and noble in spirit, characterized by a willingness to think and act on a grand scale Humility - Virtue of recognizing one's limitations and imperfections, coupled with a willingness to listen, learn, and serve without seeking personal glory or recognition Prudence(Practical wisdom) - Making sound judgments and decisions based on a combination of experience, knowledge, and reflection Justice - Equitable treatment of others Temperance - Control over desires and impulses Fortuitous(Courage) - The ability to face difficult situations with bravery, determination, and resolve

For Alexander Havard, why is magnanimity a crucial virtue of leaders? How is it different from megalomania or small-mindedness?

Magnanimity is crucial for leaders as it inspires greatness, full potential, and a vision beyond personal gain. It encourages generosity, compassion, and purposeful integrity. A magnanimous leader is humble, yet confident, ambitious, yet selfless, and capable of uplifting others. Megalomania, however, stems from egoism, seeking personal power and glory at others' expense. Small-mindedness lacks ambition, vision, and generosity, failing to inspire effective leadership. In summary, magnanimity fosters great-hearted, noble, and generous leadership, making a positive impact guided by purpose and values.

Define prudence, justice, fortitude, and temperance, and describe the natural (acquired) virtues in relation to the supernatural (theological) infused virtues.

Natural Virtues (virtues that individuals can develop through their own efforts and practice. They are acquired through human reason and experience. Prudence, justice, fortitude, and temperance are examples of natural virtues.): 1. Prudence: The virtue that enables individuals to make sound judgments and decisions based on moral principles and practical wisdom. It involves the ability to discern what is right and choose the most appropriate means to achieve the desired ethical goals. 2. Justice: The virtue concerned with giving each person their due, whether it be in terms of rights, respect, or fairness. It involves treating others with equity and upholding moral and legal obligations. 3. Fortitude: The virtue of courage and strength in facing difficulties, dangers, and challenges, particularly in the pursuit of moral and virtuous actions. It allows individuals to persevere in the face of adversity. 4. Temperance: The virtue of self-control and moderation. It helps individuals regulate their desires and appetites, ensuring that they do not become excessive or lead to harmful behaviors. Supernatural (Theological) Infused Virtues (virtues that are believed to be infused into the human soul by divine grace. These virtues go beyond what human effort alone can achieve. They include): Faith: Theological virtue that enables belief in God and acceptance of divine revelation. Hope: Theological virtue that instills confidence in God's salvation and the eternal life to come. Charity (Love): Theological virtue that guides individuals to love God above all else and to love their neighbors as themselves.

What are some negative effects of technology? What is the dopamine effect?

Negative Effects of Technology: Distracted Thinking: Technology leads to distracted thinking and superficial learning, hindering deep understanding. Reduced Attention Span: Overuse of technology contributes to shorter attention spans and decreased productivity. Information Overload: The internet overwhelms with excessive data, causing decision paralysis. Diminished Critical Thinking: Relying on quick answers may diminish critical thinking skills. Social Isolation: Excessive screen time can replace face-to-face interactions, leading to social isolation. Privacy Concerns: Technology compromises personal privacy through data breaches and surveillance. The Dopamine Effect: Dopamine drives human behavior, fueling desire, seeking rewards, and pleasure. It makes us curious about ideas and information, contributing to technology addiction. The internet offers a constant stream of visually enticing content, stimulating dopamine and leading to addictive behaviors.

What is characteristic of the founding of business studies at Notre Dame?​

Notre Dame's business studies, rooted in its Catholic identity, emphasizes business as a noble vocation serving the common good. Integrating moral, ethical, and theological principles, the curriculum upholds that business leaders should act with integrity and societal commitment. As O'Hara states, business education at Notre Dame aims to produce individuals with sound business theory, strong character, and ideals rooted in divine principles, emphasizing commerce's primary function as a service to humanity. Theory and skills are not enough: Notre Dame should send [people] into business with a sound knowledge of business theory...good character...and with sound conceptions of business morality based on works of scripture, and with the kind of good character that will put those moral principles into practice under whatever temptations the world may offer.

Three "fonts" of morality

Object: the matter, the "what" of an action, described as accurately and concisely as possible; that towards which the human will is directing itself (external to the acting person) Intention: the purpose pursued in an action (internal to the acting person) Circumstances: the secondary elements of a moral action that can increase its moral goodness or evil

Why is Pope Leo XIII opposed to socialism? Does this mean that he favors capitalism? Why or why not?

Opposition to Socialism: Private Property: Leo XIII strongly defends the right to private property, which socialism seeks to abolish or radically alter. He argues that private property is natural and necessary for the stability and flourishing of individuals and families. Family Rights: Leo XIII emphasizes the importance of the family unit, which he believes socialism undermines by transferring the responsibilities and rights of families to the state. Moral and Social Order: He is concerned that socialism threatens the moral and social order by promoting class conflict and disregarding individual rights in favor of collective control. Stance on Capitalism: Critique of Unregulated Capitalism: While Leo XIII does not explicitly endorse capitalism, he also critiques its excesses, particularly the exploitation of workers and the neglect of the poor and vulnerable. Call for Ethical Capitalism: He advocates for a version of capitalism that respects the dignity of labor, ensures fair wages, and upholds the rights of workers. This includes the right to form unions and the duty of employers to treat employees justly. Subsidiarity and Solidarity: His teachings align with principles of subsidiarity (handling matters at the lowest possible level) and solidarity (a commitment to the common good), suggesting a balanced approach to economic organization that neither fully embraces unregulated capitalism nor socialism. He opposed socialism because he believed it contradicted Catholic principles like private property and individual rights. However, he did not unconditionally favor capitalism. He emphasized the need for a balanced approach that respects individual rights, promotes social justice, and allows limited government intervention when necessary to protect workers' rights and the common good.

Is profit a good, bad, or neutral goal in business? Why or why not?

Positive View of Profit: Milton Friedman, as discussed in his essay "The Social Responsibility of Business is to Increase its Profits," argues that the primary goal of a business is to generate profit for its shareholders. He views profit as a means to allocate resources efficiently and promote economic growth. Neutral View of Profit: Some authors, such as Irving Kristol in "A Capitalist Conception of Justice," may see profit as a neutral goal in business. Profit is acknowledged as a necessary aspect of a functioning market economy but is not explicitly labeled as good or bad in itself. Mixed View of Profit: Pope Francis, in his encyclical "Laudato Si'," addresses the pursuit of profit within the context of environmental and social concerns. He acknowledges the role of profit but emphasizes that it should not come at the expense of social and environmental well-being. Profit is viewed more critically in situations where it leads to exploitation or harm. Balanced View of Profit: St. John Paul II, as reflected in his writings on social and economic justice, emphasizes the importance of profit within the framework of the common good. He recognizes the legitimate pursuit of profit but underscores the ethical responsibility of businesses to consider the well-being of all stakeholders, including employees and society. In summary, whether profit is considered good, bad, or neutral in business depends on the ethical, social, and economic context within which it is pursued

What does St. Basil the Great think that wealth does to our hearts?

Potential to Harden Hearts: Wealth can lead to a hardening of the heart, making individuals less compassionate and more self-centered. Source of Greed and Selfishness: An excessive focus on wealth fosters greed and selfishness, detracting from spiritual and moral values. Lack of Compassion for the Needy: Wealth can make individuals less empathetic towards the poor and needy, leading to neglect of charitable duties. Corruption of Morals and Priorities: Attachment to wealth can corrupt one's morals, shifting focus from spiritual growth to material gains. Wealth as a Tool for Charity: St. Basil urges the rich to use their wealth for charitable purposes, aligning with Christian virtues of generosity and kindness. Risk of Spiritual Poverty: Hoarding wealth or using it solely for personal gain can lead to spiritual impoverishment, distancing individuals from Christian teachings. In essence, St. Basil views wealth as a potential risk to moral and spiritual well-being, advocating for its use in supporting and showing compassion to others.

How do our authors claim one can grow in virtue?

Practice and Habituation: Repeated virtuous actions form virtuous habits. Reflection and Self-Examination: Assessing actions and motives identifies areas for improvement. Education and Formation: Learning about ethics provides knowledge for virtuous choices. Spiritual Practices: Faith and hope grow through prayer and meditation. Moral Decision-Making: Consistently choosing the morally right path fosters virtue. Community and Accountability: Virtuous communities uphold values and provide support. Lifelong Journey: Virtue development is a lifelong commitment and process.

What is a pre-commitment device and how does it help one's growth in temperance and self control?

Pre-commitment Device and Growth in Temperance/Self-Control: Definition: A pre-commitment device is a proactive strategy for making virtuous choices and exercising self-control, especially in situations with anticipated temptation. Streamlined Decision-Making: Pre-commitment simplifies decision-making by eliminating the need for constant willpower, allowing individuals to stick to their commitments even in the face of temptation. Overcoming Weaknesses: It is particularly effective in overcoming known weaknesses or intemperate tendencies, providing structure and support for virtuous goals. Immediate Reinforcement: Pre-commitment offers immediate positive reinforcement, serving as a reminder of virtuous intentions and increasing adherence to chosen paths. Consistency: It promotes consistency in virtuous behaviors by acting as a reminder and support system, ensuring alignment with virtuous goals. Long-Term Benefits: Utilizing pre-commitment devices leads to long-term benefits, fostering self-control, temperance, and the development of virtuous habits.

Give some qualities and characteristics of servant leadership according to Vocation of a Business Leader - the book. Can you give examples of some virtuous leaders we discussed in our class? Why were they exemplary?

Qualities and Characteristics of Servant Leadership According to "Vocation of the Business Leader": Service to Others: Servant leaders prioritize serving the needs of others, including employees, customers, and the broader community. They genuinely care about the well-being of those they lead. Listening and Empathy: They actively listen to others and seek to understand their perspectives and concerns. This empathetic approach helps in decision-making and problem-solving. Humility: Servant leaders display humility and recognize that they are part of a larger team. They don't seek personal glory but rather celebrate the achievements of their team members. Stewardship: They view their leadership role as a stewardship responsibility, emphasizing the ethical and responsible use of resources, both human and material. Commitment to the Common Good: Servant leaders work toward the common good of all stakeholders, not just profit. They consider the social and environmental impact of their decisions. Examples of Virtuous Leaders from Your Syllabus: St. Benedict of Nursia: St. Benedict is known for his Rule, which laid the foundation for monastic life in the Christian tradition. His emphasis on humility, obedience, and community-building serves as a model for servant leadership. John O'Hara, CSC: John O'Hara's dedication to business education at Notre Dame reflects his commitment to forming virtuous leaders. He encouraged students to integrate ethical values into their professional lives.

What is a reciprocity style? What characterizes a taker, a matcher, and a giver? (according to Adam Grants)

Reciprocity styles refer to the different ways individuals approach interactions and exchanges with others. Grant categorizes people into three main reciprocity styles: Takers: Characteristics: Takers are individuals who tend to approach interactions with a mindset of getting as much as possible. They are primarily focused on their own needs, often looking for opportunities to benefit themselves without giving much in return. Behavior: Takers are more likely to take credit for others' work, exploit relationships for personal gain, and prioritize their own interests over those of others. Outcome: While takers may achieve short-term success, their approach can lead to negative consequences in the long run, such as damaged relationships and a lack of trust from others. Matchers: Characteristics: Matchers are individuals who aim to maintain a balance between giving and taking. They operate on the principle of reciprocity, seeking to give back to others in proportion to what they receive. Behavior: Matchers are more likely to engage in quid pro quo interactions, where they reciprocate favors and maintain an equilibrium in their relationships. Givers: Characteristics: Givers are individuals who have a predisposition to help and contribute to others without expecting immediate or direct reciprocity. They are motivated by a genuine desire to assist and make a positive impact on others' lives. Behavior: Givers are more likely to provide support, share knowledge, and offer assistance without keeping score. They may offer help unconditionally, even when there is no guarantee of receiving something in return.

What is the role of finance? What are its internal and external goods? When does finance cease to be used virtuously, according to our authors?

Role of Finance: emphasizes the pursuit of internal goods within financial practices. Finance, in this context, is seen as a complex and cooperative human activity, where internal goods are central to its definition as a practice. These internal goods are closely tied to the standards of excellence specific to finance and contribute to the moral and professional development of individuals within the field. 1) To promote household and corporate savings 2) To allocate funds 3) To manage and distribute risks 4) To facilitate a reliable payment system Internal Goods: Pursuit of Excellence: Striving for high standards in financial activities, emphasizing ethical conduct. Moral and Professional Development: Cultivating virtues such as honesty and integrity within the finance profession. Contribution to the Common Good: Aiming finance to benefit society broadly, beyond individual gains. When Finance Ceases to Be Virtuous: Finance becomes non-virtuous when overshadowed by external goods like profit, power, and status, leading to: External goods: Profit Over Ethics: Prioritizing profit with disregard for ethical implications. Engaging in Deceptive Practices: Such as market manipulation or fraud. Neglecting the Common Good: Focusing on individual/corporate gains at society's expense.

What does Ryan mean by security, sufficiency, and status?

Security: Assurance of economic and social well-being, including protection against unemployment, sickness, accidents, and old age through social safety nets. Sufficiency: Access to a minimum standard of living that meets basic needs, ensuring no one suffers extreme poverty or deprivation. Status: Recognition of workers as contributors to the common enterprise, involving participation in decision-making, profit-sharing, and a sense of dignity in their work.

What does Socrates think of morality, and what does Glaucon believe?

Socrates believes that living a just life is more rewarding and fulfilling than living an unjust life and that the desire for good transcends pleasure. Intrinsic Motivation: Socrates argues that the Good is not merely desirable for external rewards or consequences but is an intrinsic and inherent quality. He believes that true justice and morality are pursued for their own sake. Socrates' View on Morality: Intrinsic Morality: Morality is intrinsic to the human soul. --------------- Glaucon argues that the Good is desirable for hedonistic reasons: pleasure, delight, physical stimulation, etc Good as a Social Contract: Glaucon suggests that people only practice justice because they fear the consequences of injustice and desire the benefits of social order. In his view, people are naturally inclined to pursue their own self-interest and would act unjustly if they could do so with impunity. Glaucon's View on Morality: Extrinsic Motivation: People act justly due to fear of consequences and societal rewards. Self-Interest: Suggests that individuals would act unjustly if they could do so with impunity. - Ring of Gyges Thought Experiment: Introduces the idea that even just individuals would act immorally if they had the power of invisibility and no consequences --> This challenges the intrinsic value of morality and proposes a more self-interested view of human behavior.

According to St. John Chrysostom, what was wrong with the rich man? How did Lazarus suffer? Who should we imitate and why?

St. John Chrysostom, an early Christian theologian and preacher, offered a commentary on the parable of the rich man and Lazarus from the Gospel of Luke (Luke 16:19-31). According to Chrysostom: Rich Man's Wrongdoings: The rich man in the parable was condemned for his excessive wealth and his indifference to the suffering of Lazarus. Chrysostom emphasized that the rich man's sin was not merely in his wealth but in his failure to show compassion and help the poor and suffering Lazarus, who lay at his gate. Lazarus's Suffering: Lazarus was a poor beggar who suffered greatly from poverty, hunger, and illness. Chrysostom highlighted the stark contrast between the opulence and comfort of the rich man's life and the destitution and suffering of Lazarus, who longed for the crumbs that fell from the rich man's table. Imitating Lazarus and Not the Rich Man: Chrysostom encouraged his listeners and readers to imitate Lazarus rather than the rich man. He believed that Lazarus exemplified humility, patience, and endurance in the face of suffering. Chrysostom emphasized the importance of showing compassion, helping the less fortunate, and living a life of virtue and charity. Chrysostom's interpretation of the parable underscores the moral lesson that excessive wealth, when accompanied by indifference to the suffering of others, can lead to spiritual peril. He urged people to cultivate virtues like compassion, humility, and charity and to be mindful of the needs of the less fortunate, following the example of Lazarus rather than the rich man.

Would a universal basic income be just according to the authors we have read? Who might argue for or against such a proposal?

Supporting UBI: Catholic Social Teaching (CST): Basic Needs and Human Dignity: CST emphasizes that wages should provide for basic needs and respect human dignity. UBI could be seen as a tool to guarantee this minimum standard for all. Solidarity and Subsidiarity: UBI could embody solidarity by distributing wealth more evenly and subsidiarity by allowing individuals more freedom to make decisions affecting their lives. Opposing UBI: Libertarian View: Free Consent in Wages: Libertarians might argue that UBI undermines the principle of free market and consent, where wages are determined by mutual agreement between employer and employee, not by state intervention. Economic Efficiency and Incentive to Work: Capitalist Concerns: From a capitalist viewpoint, UBI might be seen as potentially disincentivizing work and harming economic productivity. Leo XIII's Concerns about State Interference: State's Role in Wage Justice: While Leo XIII acknowledges the state's role in protecting workers, he also cautions against undue interference. A UBI program could be viewed as overreach by the state in individual and market affairs.

Vatican II on The Christian Businessperson

The Christian Businessperson Vocation of the Laity: All laypeople, including businesspeople, have a specific Christian vocation to seek God's Kingdom by engaging in worldly affairs and directing them according to His will. Dignity of Work: Work is essential for human dignity. Christian businesspeople should see their work as a service to society and a participation in God's creation, rather than just a means for profit. Common Good: Business activities should aim for the common good of society, considering the well-being of all, especially the poor and marginalized, in decision-making. Social Justice: Christian businesspeople have a duty to ensure just and equitable practices that respect human dignity, including fair wages, good working conditions, and workers' rights. Economic Activity and Morality: Economic activity is not separate from moral considerations. Christian ethics should guide business practices, avoiding the pursuit of profit at the expense of human values. Avoiding Greed: Christian businesspeople should avoid the temptation of greed and excessive wealth and view wealth as a means to serve others, not an end in itself. Role in the Global Community: With the interconnectedness of the global economy, Christian businesspeople have a responsibility to consider the global impact of their actions, contributing to peace, justice, and human development worldwide. Witnessing the Faith: Christian businesspeople should witness to Christ in their professional lives through their interactions with others and the ethical choices they make.

Morality of Happiness

The Eudaimonistic Rationale for doing good (virtue) Do something ethical → Develop virtue→ Reach a state of flourishing/life of excellence Morality of happiness is doing what is right because it brings you fulfillment. This perspective is often associated with virtue ethics, which places a strong emphasis on the development of virtuous character traits as the path to living a good and meaningful life.

Morality of Obligation

The Non-Eudaimonistic Rationale for doing good (focuses on consequences as a motivation) Do Something Unethical → Get Caught → Face Consequences → 😖 Often associated with deontological ethics and adherence to socially defined moral principles, morality of obligation is doing what is right in fear of what may happen if you do not.

What is subsidiarity?

The principle of Catholic social teaching that holds that a higher unit of society should not do what a lower unit can do as well (or better).

Are we selfless or selfish by nature? Why does the answer to this question matter?

The question of whether humans are inherently selfless or selfish has significant implications for ethics, moral development, social policies, leadership, conflict resolution, and individual attitudes. It influences how we structure societies, organizations, and personal relationships. Selfless vs. Selfish Tendencies: Selfish Perspective: Authors like Thomas Hobbes and Ayn Rand have argued that humans are primarily motivated by self-interest. They believe that individuals act to maximize their own well-being and survival. Selfless Perspective: Philosophers like Jean-Jacques Rousseau and proponents of altruism argue that humans possess innate empathy and altruistic tendencies. They believe that people can act in ways that benefit others without expecting personal gain. Implications: Ethical Frameworks: The answer to this question can influence how ethical theories are developed and applied. If humans are seen as primarily selfish, ethical systems may focus on regulating self-interest. If they are considered selfless, ethics may emphasize empathy and altruism. Social Structures: Understanding human nature can inform how societies are organized. If humans are viewed as selfish, social structures may prioritize individual rights and competition. If they are seen as selfless, cooperation and collective well-being may take precedence. Policy Decisions: The perspective on human nature can impact policy decisions related to economics, welfare, and social justice. If people are believed to be selfless, policies may be designed to promote the common good. If they are seen as selfish, policies may focus on incentives and competition.

Give an account of how the virtues work together. Can one have only one of the virtues?

The virtues, both natural and theological, work in harmony to shape an individual's moral character and guide their actions. It's important to understand that these virtues are interconnected, Interconnected Virtues: The virtues complement and support each other, creating a balanced and virtuous life. Each virtue plays a specific role, and together, they form a comprehensive ethical framework. Balanced Moral Character: Possessing only one virtue, while neglecting others, leads to an imbalanced moral character. For example, having prudence without justice may result in wise decisions that lack fairness. Emphasizing charity without temperance may lead to selflessness at the expense of self-control. Comprehensive Guidance: The virtues collectively provide comprehensive guidance for ethical decision-making. Faith and hope guide beliefs and motivations, while prudence and justice steer actions in alignment with moral principles. Holistic Approach: Isolating a single virtue often oversimplifies complex moral dilemmas. Ethical challenges require a multifaceted approach that draws on various virtues to address different aspects of the situation. In summary, the virtues work together because they fulfill distinct functions in shaping moral character and ethical behavior. Emphasizing just one virtue, while neglecting others, does not lead to a complete and balanced moral life.

Vocation of lay people

Universal Call to Holiness: All Christians, including the lay faithful, are called to holiness. This call is rooted in their baptism and is not limited to those in religious life or the clergy. Active Participation in the Church's Mission: The lay faithful are called to actively participate in the Church's mission. They do this by bearing witness to Christ in every environment, including their families, workplaces, schools, and communities. Distinct Role in the Secular World: The laity have a unique and particular role in bringing the Gospel to the secular world. They are called to transform and sanctify the temporal order through their work, social relationships, and civic engagements.

What three fundamental ethical principles should a society uphold when seeking a socially just capitalism, according to John Ryan?

Universal Destination of Goods: According to this principle, the earth and all its potential resources belong to all members of the human race who have natural rights. In other words, there should be a recognition that the goods of the earth are meant for the benefit of all people, and not just a select few. This principle emphasizes the common ownership of resources and the idea that everyone has a right to a share in the world's goods. Just Use of Goods: Society is morally obliged to use the goods of the earth in a just and charitable manner. Private property is considered morally right because it is necessary for human welfare. However, owners of property should use it in a way that allows non-owners to have access to these resources on reasonable terms. This principle stresses the importance of balancing individual property rights with the needs of the broader community. Subordination to the Common Good: According to this principle, every member of society is subordinate to the organic unity of the whole. It recognizes that individual liberty with regard to property should cease to be morally valid when it encroaches upon the liberty of others or violates principles of justice and charity. This principle underscores the idea that individual actions and property ownership should align with the common good and the welfare of society as a whole.

**How Virtue Ethics Differs from Other Approaches**

Virtue ethics emphasizes the development and practice of virtues (good character traits) as the path to eudaimonia (ultimate happiness and fufillment). In a business context, this approach focuses on the moral character of individuals and organizations. 1. **Character-Centered**: Unlike consequentialist approaches (like utilitarianism) that focus on outcomes, or deontological approaches that prioritize rules, virtue ethics is centered on the development and expression of good character and virtues. 2. **Holistic Approach**: Virtue ethics takes a holistic view of human beings, emphasizing the integration of feelings, rationality, and actions. It's not just about making ethically right decisions, but also about being the kind of person who naturally does the right thing. 3. **Long-Term Perspective**: While some ethical approaches might focus on individual actions or decisions, virtue ethics is more concerned with long-term moral development and the cultivation of virtues over a lifetime. 4. **Internal Motivation**: Virtue ethics underscores internal motivation. The virtuous person acts ethically not because of external pressures or rewards, but because it's in line with their character. 5. **Context Sensitivity**: Virtue ethics recognizes the importance of context. It doesn't provide a fixed set of rules but encourages individuals to use their judgment, cultivated through the development of virtues, to act appropriately in various situations. In a business context, a virtue ethics approach emphasizes cultivating virtues like honesty, integrity, and courage in leaders and teams. This approach argues that virtuous businesses navigate ethical challenges effectively, foster trust, and contribute positively to society.