Bus. Law - Ch. 2
When using values to determine the overall purpose that a firm has, it is important to do which of the following?
The precise definition of the value that is being discussed.
If when making the decision about whether to move their plant to Honduras, Smooth Ride management considered how they would feel if details of the move were the focus of a headline story on the front page of the Wall Street Journal, which test would they be applying?
The public disclosure test.
The H in the WPH framework for business ethics stands for ________.
how, or the avenues the firm will use to guide it to its ultimate decision
The universalization test is a useful ethical guide because ___________.
it causes us to consider the effects of others doing what we are about to do
What does it mean when we say that ethics guides the law?
The evolution of the law moves in a direction that legislatures and courts see as more ethical.
________ are the basic unit of business ethics.
Values
The W in the WPH framework for business ethics stands for ________.
who, or the identity of the stakeholders
Business ethics shape the development of the law in what fashion?
The ideals and standards of business ethics point lawmakers in directions where additional laws are needed.
Why is it not ethical necessarily for Smooth Ride to decide where it locates by simply obeying the law?
The law does not cover all aspects of human conduct that have ethical effects.
When making the decision as to whether to move the plant to Honduras, which of the following would be a relevant stakeholder or stakeholders?
All of the listed entities would be relevant stakeholders.
Establishing a code of ethics can benefit the firm but has the following limitation.
It can never provide the firm with a single best answer for what it should do.
Why is the question raised by Smooth Ride's consideration of a move to Honduras an ethical dilemma?
It is a question about right and wrong business conduct with no clear right or wrong answer.
Business ethics provide a set of standards for ethical behavior, but they can never provide ________.
absolute right answers
The public disclosure test is a useful ethical guide because _________.
as social beings, we want others to think highly of us
The study of what is good or right is ____________.
ethics
Business ethics is not adequately pursued just by obeying the law because __________.
ethics asks us not just what the law is, but what it should be
