Business Ethics Exam 1
Normative Ethics
A branch of ethics that tries to provide some kind of guidance for determining how we ought to act - what's right and what's wrong, morally speaking.
Valid Moral Argument
A grouping of statements called premises that help to prove a conclusion. If all the premise is above the conclusion are seen as true and excepted then the conclusion must also be excepted. Not to except the conclusion while excepting the premises would result in a contradiction.
Principle of Ends
Act so as to treat every person affected by your action (including yourself) as an end and never as merely the means to an end.
prima facie obligation
An obligation that can be overridden by a more important obligation depending on circumstances.
Opioid Crisis
Current drug crisis caused by overprescription of painkillers and heroin that is plaguing the nation with corruption from big pharmaceuticals, the DEA, and other members of Congress.
briefly discuss what is meant by "the opioid crisis."
Current drug crisis caused by overprescription of painkillers and heroin that is plaguing the nation with corruption from big pharmaceuticals, the DEA, and other members of Congress.
discuss the moral issues related to the opioid crisis. In other words, why do we evaluate the opioid crisis in moral terms and not just in medical or behavioral terms?
Due to the extremities of the impact that the epidemic has had (especially on the youth population) it is a moral issue of right and wrong when there is question of corruption for self-interest and political gain.
discuss the moral issues surrounding giftgiving in the workplace.
Gifts Are familiar parts of the business world. In some cultures gifts are necessities, and without a gift you are seen as disrespectful. However, GIFs can tend to create a sense of gratitude in the recipient, who may feel obligated to reciprocate in someway. For this reason, in a business context gifts can raise conflict of interest problems and even border on bribery. Knowing where to draw the line here is not always easy. But one thing is clear: those who cross the line, wittingly or not, can end up in big trouble.
explain why former DEA agent Joe Rannazzisi is described as a whistle blower in the opioid crisis. In other words, what did Rannazzisi do that made him a whistle blower?
Joe Rannazzisi did a 60 minutes special blowing the whistle on the corruption between pharmaceutical companies, Congress, and the DEA to further the opioid crisis wow he worked there.
Original Position
John Rawls' name for a hypothetical condition in which rational and unbiased individuals select the principles/ground rules of social justice that govern a well-ordered society.
Categorical Imperative
Kant's categorical imperative says that we should always act in such a way that we can will the maxim of our action to be a universal law.
bystander apathy
The more people who are observing an event, the less likely is any one of them to feel obliged to do something. In emergencies, we seem naturally to let the behavior of those around us dictate our response.
bribe
The payment to a person to get them to violate their official duties; that is, to perform an action that is inconsistent with the persons work contract or job responsibilities or with the nature of the work of a person has been hired to do.
Libertarianism
The philosophy of personal liberty. The liberty of each person to live according to his own choices, provided he does not attempt to coerce others and thus prevent them from living according to their choices.
Distributive Justice
The proper distribution of social benefits and burdens (in particular, economic benefits and burdens).
utilitarianism (act-utilitarianism)
Measures consequences of alternative actions and says one ought to do that which brings about the greatest good (happiness or pleasure) for the greatest number in the long-run.
Define Kantianism. include a discussion of the concept of universal acceptability and the principle of ends. Be ready to show your understanding of the two principles by using examples or by applying them to a case.
One of a group of theories that says one ought to adhere to moral laws or duties. Kant's theory rests on specific principles or categorical imperatives: • Universal law - act in a way that you would will that everyone would act if in a similar situation. •Universal acceptability - actions are moral if all rational beings would find it acceptable whether the action is done by them or done to them. •Respect for people - people should be treated as ends and never on me as a mere means to an end.
Kantianism
One of a group of theories that says one ought to adhere to moral laws or duties. Kantianism is an ethical theory by which decisions are based on a sense of duty.
Rawl's Theory of Justice
Rawl's theory presents itself as a modern alternative to utilitarianism, one that he hoped would be compatible with the belief that justice must be associated with fairness and the moral equality of persons.
Ross's Theory of Ethics
Ross believed that we have various moral duties that cannot be reduced to one single obligation to maximize happiness.
summarize Ross's theory of ethics
Ross believed that we have various moral duties that cannot be reduced to one single obligation to maximize happiness. All else being equal, moral people have these obligations: •gratitude •Fidelity •reparation •self improvement •justice •beneficence •non-injury
Discuss how Ross's theory of ethics differs from Kantianism
Ross did not see his prima facie obligations as being absolute and exception list. Ross believed in weighing out moral obligations and picking the obligation that has more relative importance depending on circumstances when you have conflicting obligations.
Discuss how Ross's theory of ethics differs from utilitarianism
Ross rejected utilitarianism as being too simple and as untrue to the way we ordinarily think about morality and about our moral obligations. as people we have more moral duties that cannot be reduced to the single obligation of maximizing happiness.
Explain the concept of Cultural Relativism
Some people do not believe that morality boils down to religion but rather that it is merely a function of what a particular society happens to believe. This view is called ethical relativism, the theory that what is right is determined by what a culture or society says is right.
insider trading
The buying or selling of stocks (or other financial securities) by business "insiders" on the basis of information that has not yet been made public and is likely to affect the price of the stock.
Veil of Ignorance
The hypothetical situation where Rawls asks us to imagine that the people in the original position do not know what social position or status they have in society. The only things that they know are the general knowledge of history, sociology, and psychology. They know nothing about themselves.
Maxmin Rule
The rule that states that you should select the alternative under which the worst that could happen to you is better than the worst that could happen to you under any other alternative. That is you should try to maximize the minimum that you will receive.
Groupthink
The situation when pressure from unanimity with a highly cohesive group overwhelms its members' desire or ability to appraise the situation realistically and consider alternative courses of action.
cultural relativism
The theory that what is right is determined by what a culture or society says is right. Basing an understanding of ethics on the majority belief.
As you think about who should be held responsible for the opioid crisis, identify the one or two groups who you would hold most responsible. Explain why these groups should be held more responsible than others.
The two groups who have the most responsibility for the opioid crisis are the pharmaceutical companies themselves, and the Congress that allowed for these companies to flood the market with extreme amounts of potent, harmful, and addictive drugs since the early 1990s.
discuss the conditions that are sometimes used to determine whether whistleblowing in a particular situation is justified.
Whistleblowing can be seen as morally justified if: •It is done from an appropriate moral motive. — This means that the whistleblowing must be motivated by a desire to expose unnecessary harm, illegal or immoral actions, or conduct counter to the public good or the defined purpose of the organization. •The whistleblower, except in special circumstances, has exhausted all internal channels for dissent before going public. — The duty of loyalty to the firm obligates workers to seek an internal remedy before informing the public of a misdeed. •The whistleblower has compelling evidence that wrongful actions have been ordered or have occurred. — The whistleblower must be specific, and the charges must be backed up. Hard evidence of moral crimes committed by an organization. •The whistleblower has acted after careful analysis of the danger: how serious is the moral violation? How immediate is the problem? How great is the danger? — these criteria focus on the nature of the wrongdoing. Owing loyalty to employers, employees should blow the whistle only for grave legal or moral matters. The greater the harm or the more serious the wrongdoing, the more likely is the whistle blowing to be justified. • The whistle blowing has some likelihood of success. — this criterion recognizes that the probability of remedying and a moral or illegal action is an important consideration.
universal acceptability
You can embrace something as a moral law only if all other rational beings can also embrace it in the same way.
egoism
a view that our only moral obligation is to act in our own perceived self-interest •Suggests that humans naturally behave in selfish ways - that acting in unselfish ways is impossible •Argues that actions that appear to help others are chosen only because these actions are also the best for that individual
discuss the relationship some see between company loyalty and whistle blowing.
employees have duties to their employers, and they may also have other obligations based on the business or professional roles and responsibilities they have assumed. In addition, they have the same elementary moral obligations that all human beings have — including the obligation not to injure others and to be truthful and fair.
using the criteria discussed in chapter 10, discuss whether Rannazzisi was justified in blowing the whistle.
he was. Explain. Explain well mother****er.
define utilitarianism
hey Siri that says that what is right and what is wrong is based on the outcomes or consequences of one action as compared to another. Utilitarianism measures what's right or morally good in terms of pleasure or happiness and it also measures what's wrong or moral evil in terms of pain or unhappiness. The goal of utilitarianism is to choose the action or decision that leads to be greatest long run net good or greatest utility for those affected by the decision.
Grease Payments
legal payments to speed up or ensure performance of normal government duties. these payments are sometimes necessary to ensure that the recipients carry out their normal job duties. The FCPA does not prohibit grease payments to the employees of foreign governments who have primarily clerical or ministerial responsibilities.
diffusion of responsibility
the tendency for individuals to feel diminished responsibility for their actions when they are surrounded by others who are acting the same way.
explain possible problematic consequences of adopting cultural relativism
there is no good reason for saying that the majority you on moral issues is automatically right, and the belief that it is automatically right has unacceptable consequences.
some critics say that the corporate culture of the DEA, the organizational practices and decision making within the DEA, and the DEA relationship with other organizations contributed to the opioid crisis. Explain what these critics see as contributing factors.
throughout the DEA's battle against pharmaceutical companies to combat the opioid crisis, many employees of the DEA ended up flipping and working for the pharmaceutical companies with knowledge of the DEA's investigations.
Whistleblowing
when an employee informs the public about the illegal or immoral behavior of an employer or an organization. "A practice in which employees who know that their company is engaged in activities that cause unnecessary harm, are in violation of human rights, are illegal, run counter to the defined purpose of the institution, or are otherwise in moral inform the public or some governmental agency of those activities."
define whistle blowing. Explain why some see whistleblowing as morally problematic
whistleblowing is the voluntary release of non-public information, as a moral protest, by a member or former member of an organization outside the normal channels of communication to an appropriate audience about illegal and or in moral conduct in the organization or conduct in the organization that is opposed in some significant way to the public interest. According to Professor Sissela Bok, The whistle can be blown in error or malice, privacy invaded, confidentiality violated, and trust undermined. Not least, publicly accusing others of wrongdoing can be very destructive and brings with it and obligation to be fair to the persons accused. In addition internal crying and mutual suspicion make it difficult for any organization to function. And finally one must bear in mind that whistleblowers are only human beings, not saints, and they sometimes have their own self-serving agenda.
Discuss the criticisms of Cultural Relativism
• First, it undermines any moral criticism of the practices of other societies as long as their actions conform to their own standards. • Second, and closer we related, is the fact that for the relativist there is no such thing as ethical progress. although moralities may change, they cannot get better or worse. • Third, from the relativists point of you, it makes no sense for people to criticize principles or practices excepted by their own society.
discuss the criticisms of Kantianism
•Criticizes those who might "do the right thing" but who do it for "the wrong reasons". •tells us the types of actions that are moral but not specifically what to do in a specific situation. •Sometimes the rules that we are meant to follow lead to conflicting actions. •Sometimes the consequences of following a rule are so severe, that following the rule makes absolutely no sense. Kant's rules do not allow for exceptions.
discuss the strengths of utilitarianism
•It's an easy theory to understand. •It is a consistent theory when it comes to common sense. •It does not require knowledge of or agreement on any sorts of moral principles. •It is a natural way of weighing actions, especially in business.
discuss the criticisms of utilitarianism, using examples to illustrate each.
•There is difficulty in measuring the consequences of decision making, especially when looking into the future and when taking into account the greatest tonight good for all those affected. •It can be used to justify actions that many would perceive to be more Levon or morally questionable. •It can result in actions that seem unjust for some of those affected. •It can demand a lot of an individual that is sacrificing more than we think it's just in order to bring about the greatest neck good.
discuss how someone might determine whether giftgiving in the workplace is problematic in a particular situation
•what is the value of the gift? •What is the purpose of the gift? •What are the circumstances under which the gift was given or received? •What is the position or decision making authority of the person receiving the gift? •What is the accepted business practice in the industry? •What is the company's policy? •What is the law?