Exam 2: Business Ethics

Bill would like to propose to the board of directors of Bizmarc, Inc., that the corporation distribute one percent of its pre-tax yearly income to feed the poor.To Milton Friedman and others, Bill's proposal might be considered unethical, because it violates the purpose for which the corporation was established.

The stakeholder model for the societal role of the business corporation:

Which of the following best describes the Libertarian social ethics theory?

Jeremy Bentham was a proponent of utilitarianism.

According to Milton Friedman, the social obligation of a corporation is to return as much money as possible to its shareholders.

Kant's approach, like that of ethical fundamentalists, asserts that universal laws stem from the direct pronouncements of God.

Harvard philosopher John Rawls stressed liberty as the most important obligation owed by a society to its members.

Which of the following presents ethical dimensions for a business?

The ethical theory of intuitionism proposes that:

Situational ethics, unlike ethical relativism, judges a person's ethics, but first looks at the decision or act from the perspective of the actor.

Discuss each of the following ethical theories with regard to whether you accept or reject them for your own actions and decisions. a.Intuitionism and the "Television Test." b.Rule Utilitarianism. c.Ethical Relativism. d.Ethical Fundamentalism. e.The deontological approach.f.Milton Friedman's ideas on corporate governance.

Ethical relativism holds that when any two individuals or cultures differ regarding the morality of a particular issue or action, they are both correct because morality is relative.

What is unjust to a social egalitarian will also be unjust to a libertarian.

A major criticism of utilitarianism as an ethical theory is:

Deontologists are criticized for rigidity and excessive formalism.

Although corporations are not persons but artificial entities created by the state, it is clear that they can and should be held morally accountable.

Act utilitarianism supports rules that, on balance, produce the greatest good.

Arguments exist which oppose business involvement in socially responsible activities.These arguments involve profitability, unfairness to employees and shareholders, accountability, and lack of expertise managing socially useful activities.

In what way or ways are situational ethics and ethical relativism similar?

An ethical decision-making approach that relies on a central authority or set of rules, such as the Koran or the Bible, is: