business ethics Final Study guide
melvin Anshen suggests that there is a relationship between business and society which he termed as
"Social Contract"
what is the importance of the 1916 case of Macpherson V. Buick Motor Car
Recognized the Scope of the Retail Industry Allowed consumers to sue manufacutres, not just those that they had a direct relationship with.
Milton Friedmans argues that
a business's only social responalibity that goes beyond serving the interests of their stockholders
which of the following is a drawback to regulatory approach
a regulation can take away an industry's incentive to do more than the minimum
the statement that best defines rights is
a right is an entitlement to act or to have others act in a certain way
rule utilitarians
believe that the optimal moral code would consist of only one rule,namely,always, act so as to maximize happiness
the only accurate statement about consequentialism is
consequentialism says that the moral rightness of an action is determined soley by its results
a practical basis for discussing moral issues involves taking account of
effects, ideals, and obligations or responsibilties
what is ethnocentricity
excessive focus on ones own group from a superiorty standpoint
people generally speak of two kinds of warranties. What are these two kinds of warranties
express and implied
According to Kant
good will is the only thing that is good in itself
to properly protect consumers
if a product poses a potential, serious threat a company may need to take extradorianary measures to ensure continued safe use of it
for those who are trying to make moral decisions
in a moral discussion, clarifying the facts and spelling out the principles to which people are appealing can help us to reach a solution
according to john rawls
liberty is of little or not importance compared to eqauality
legal paternalism is the doctrine the the law
may justifiably restrict the freedom if the individual for his or her own good
which statement is true concerning moral principles and self interests
morality serves to restrain our purely self-interested desires so that we can all live together
Some argue for the narrow view of corporate social responsiblity on the ground that managers have a promissory obligation to maximizethe profits of their shareholders. As discussed in ch. 5, one problem with this argument is that
promises to try to make the stockholders money don't override all our other obligations
The "rules of the game" for corporate work are intended to
promote open and free competition
eminent domain is the ancient right of government to take what from an indivual
property
According to Locke,
property is a moral right
which of the following represents a utilitarian belief
rightness is determined by what will bring about the most good
Explain a cost-benefit analysis, and how it is relevant to enivormental issues
the cost-benefit analysis for environmental issues is relevant because the cost is low for us to keep the eniroment clean which benefits us by having cleaner air, parks, and streets etc. Which allows us to have a cleaner community
according to libertanism, liberty is the prime value, and justice consists in permitting each live as he or she pleases, free from the interferance of others
the doctrine of caveat emptor means that the law may be justifiably used to restrict the freedom of individuals for their own good.
Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficent. One of these occurs when costs are not paid for, as in pollution, the other is when
there is an imbalance of knowledge between buyer and seller
what is meant by "diffusion of responsibility"
when everyone is responsible, nobody is
according to the legal doctrine of strict product liability
a manufacturer need not be negligent to be held liable for a defective product
the authors shaw and barry use the murder of kitty genovese to illustrate
bystander apathy
which of the following is true of a regulatory approach to enviromental problems
it requires the EPA or other body to determine the most effective, feasible
according to libertarianism
it would be unjust to coerce people to give food or money to the starving
talk justice and injustice appeals to the related notions of
fairness, equality, desert
An error of procedure which wrongly associates something which preceded an event as its cause is known as the past clock fallacy
false
advocates of "naturalistic ethic" believe that penguins are important only because people like them
false
if your conduct is legal, it will also be moral
false
nonconsequentalist theories of ethics never consider the consequences of an action or rule when making a moral judgement
false
the doctrine of Caveat emptor means that the law may be justifiably used to restrict the freedom of indivuduals for their own good
false
truth is created, not discovered
false
a decade after wolves reintroduced to yellowstone park their presence was discovered to
have changed the behavior of elk
which of the following is true regarding immanuel Kant's beliefs
he believed that reason by itself can reveal the basic principles
to the libertarians, their concept of liberty includes and stems from commitment to
private property
According to divine command theory, if something is wrong, then the only reason it is wrong is that God commands us not to do it
true
Immanuel Kant believed that prostitution was immoral beacuse, by selling their sexual services, prostitutes allow themselves to be treated as only a means to an end.
true
business ethics is the study of what constitutes right and wrong, or good and bad, human conduct in a business context
true
unreconginizied assumptions impede our ability to obtain knowledge
true
externalities are
unintended side effects
as a critical thinker, how should you treat your initial reaction to any person, issue or situation
you initial reaction should be to first process the other sides opinion of the situation and filter an answer and not just blurt anything out.
what do economists mean by "the declining marginal utility of money" and how does Brandt use the concept to argue for greater economic equality
For each marginal increase of money, the marginal increase of Happiness is less. Market Basket Example
supererogatory actions are
actions that it would be good to do but immoral not to do
this is not one of the errors of perspective cited by ruggiero
bias of money
"pollution permits" are an example of which of the following methods of acheiving our enviromental goals?
pricing mechanisms
Aristoles formal principle of justice states
similar cases must be treated alike except where there is some relevant differnece
Those with a broader view concerning business obligations believe that with power comes
social responsibility
consequentalism
states that sometimes the consequences of our actions can be morally relevant
due care is
the idea that consumers and sellers do not meet as equals and that consumers interests
Which of the following contributed to more relaxed incorporation procedures of modern times?
the idea that incorporation is a by- product of the people's right to associate, not a gift from the state
the "tragedy of the common" is
the individual pursuit of self-interest can sometimes make everyone worse off
Ruggiero identifies several potential sources of error in our opinions. This was not one of them:
the news media
the case of the "death-bed promise" shows that
utilitarianism may lead to conclusions that conflict with commonsense morality
when ethical relativism is put into practice, it implies that
we cannot say that slavery is wrong if the society in question beleives it is right
According to W.D. Ross's theory
we have various moral duties that can't be reduced to a single, overarching onligations
a key idea of immauel ant's ethical theory is that
we should treat people as ends in themselves, never merely as means
when evaluating two opposing arguments, ruggiero suggests we look for a
when evaluating two arguments you have to see both sides from each parties prespective then as an outsider evaluate. a third alternative