Exam 8: Ethics and Social Responsibility of Business

Milton Friedman was a strong critic of the theory of maximizing profits for shareholders.

According to the theory of ethical relativism,there are universal ethical rules to guide a person's conduct.

According to the moral minimum theory,a corporation that pollutes a body of water and then compensates those affected by the pollution has met its moral minimum duty of social responsibility.

Adhering to the teachings and philosophies of Karl Marx is a form of ethical fundamentalism.

Some proponents of corporate social responsibility argue that a corporation's duty is to make a profit while avoiding causing harm to others.This theory of social responsibility is called the moral ________.

Under ethical fundamentalism,persons look internally and decide for themselves whether a course of action is appropriate.

The theory of business social responsibility that holds that a business has a duty to generally do good for society is:

One reason for criticizing Rawl's theory of social justice is that the blind "original position" for choosing moral principles is impossible in the real world.

Following the theory of utilitarianism,if an action would increase the good of twenty-five people by one unit each and an alternative action would increase the good of one person by twenty-six units,the former action should be taken.

A criticism of utilitarianism is that:

Which theory of social responsibility contends that a business owes only one responsibility,and that is to produce the highest return for its shareholders?

Someone that follows the principle: "Get rich or die trying" is adhering to the categorical imperative.

You,your father and your sister are rock climbing when there is a accident.The three of you are now dangling from a single rope attached by a single cam to the rock face.The cam is slipping due to the combined weight of the three of you.If nothing is done,all three of you will die.You are in the middle and your sister is above you.If your father doesn't have a knife and begs you to cut the rope but you can't because your religion teaches you that taking a life for any reason is wrong,what ethical theory are you exhibiting?

According to Kantian ethics,keeping a promise to abide by a contract is a moral duty,unless the contract turns out to be detrimental to the obligated party.