Exam 2: The Role of Ethics in Decision Making

Profits and business ethics are not contradictory.

Because property is a legal system created to focus on individual ownership, it contains no issues of morality.

Achieving and maintaining an ethical business corporation is a laudable but difficult task. What are some of the obstacles that a corporation faces, by its very nature, in seeking an ethical culture?

Modern business ethics reflects elements of both formalism and consequentialism, but tends to focus more heavily on consequentialism.

Adam Smith, the author of The Wealth of Nations, perhaps the most famous book on economic theory ever written, denied the existence of any moral element in human nature that goes beyond self-interest.

How might corporate managers promote a culture of open communication within a corporation?

Peter is an 84-year-old with a heart condition. He has no family and minimal health insurance. He is on a fixed income and barely has enough money to survive. His doctor tells him that he needs to take a particular medicine for three months or his condition will severely worsen. The medicine will cost $450 and only $150 of the cost is covered by insurance. Peter goes to the bank and hands the teller a note saying, "Give me $300.00 or I'll detonate a bomb." When Peter is later apprehended, he told the police that he stole the money to buy needed medicine. Understanding that bank robbery is a crime, is there an ethical theory that can serve to justify Peter's actions?

The Protestant ethic proved to be a great influence on modern capitalism, but its focus on absolute moral values was replaced by a focus on wealth and mass consumption.

Making ethical or moral decisions to promote the common good is a significant principle of ethical _____.

What were the four observations made by the Spanish journal, Boletin Circulo, about business ethics?

The Wealth of Nations was written by _____.

Growing diversity in the workplace has reduced concerns over ethical values.

How could a utilitarian argue for the view that the tobacco industry is a positive part of society?

The Protestant ethic is rooted in:

Ethical formalists maintain that:

Ambrose Bierce posited that individuals in large groups such as corporations feel more responsibility and accountability for what happens in the group than they do for what happens in their individual lives.

To harm others' safety and health, freedom of choice, or liberty of movement is to infringe their right of property.

What is created through the morality of property, or the legal right to exclude others from the resources one has or acquires?

Much has been made in recent years of the disparity of property in the United States. Many say that it is unjust that a small percentage of Americans can own and control a large majority of the country's wealth and resources. Many oppose this view, responding that the very nature of property acknowledges that some may have more than others, but are not immoral for using or controlling more resources. Discuss the various views on the morality of property and your own views on modern America's property disparity.

Stakeholder theory suggests that ethical corporate behavior: