Business Ethics Overview
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Questions and Answers

What does the word "ethics" come from and what does it mean?

The Greek word "ethos", meaning "behavior".

What are the three fundamental characteristics of ethics?

  • Ethics has human behaviour as the primary object of study. (correct)
  • Ethics is part of philosophy. (correct)
  • Ethics has a practical methodology and practical ends. (correct)
  • Ethics focuses on the outcome of the actions, not the intentions.

    • Ethics as a practical study can be defined as " a guide for human excellence".

    True (A)

    In contemporary ethical theory, the "act-centered" approach is more common.

    <p>True (A)</p> Signup and view all the answers

    The term "deontological" comes from the Greek word "deon" which means "duty" or "what I need".

    <p>True (A)</p> Signup and view all the answers

    What are the two formulas of Kant's categorical imperatives?

    <p>The Formula of Humanity (A), The Formula of Universal Law (B)</p> Signup and view all the answers

    What does the "Formula of Universal Law" mean?

    <p>To act only on that maxim [criteria] by which you can at the same time will that it should become a universal law.</p> Signup and view all the answers

    What does the "Formula of Humanity" mean?

    <p>Act in such a way that you treat humanity, whether in your own person or in any other person, always at the same time as an end, never merely as a means.</p> Signup and view all the answers

    The main focus of consequentialism is the intentions behind the actions, not the consequences.

    <p>False (B)</p> Signup and view all the answers

    What is Utilitarianism?

    <p>A famous stream within consequentialism, focusing on the greatest happiness of the greatest number.</p> Signup and view all the answers

    Who are the fathers of Utilitarianism?

    <p>Jeremy Bentham and John Stuart Mill.</p> Signup and view all the answers

    The Principle of Utility is known as the “greatest good for the greatest number”.

    <p>True (A)</p> Signup and view all the answers

    What are the key ethical dilemmas that arise from the Principle of Utility?

    <p>The trolley dilemma and the doctor's dilemma.</p> Signup and view all the answers

    The "Moral Machine Experiment" is a recent initiative to explore the trolley dilemma in the context of self-driving cars.

    <p>True (A)</p> Signup and view all the answers

    What is the main criticism of the Principle of Utility?

    <p>It can lead to morally questionable actions if the end justifies the means.</p> Signup and view all the answers

    Virtue ethics focuses on the actions and not the person who is acting.

    <p>False (B)</p> Signup and view all the answers

    According to Aristotle, eudaimonia is a good that we desire for its own sake.

    <p>True (A)</p> Signup and view all the answers

    Aristotle viewed virtues as abstract concepts and not practical dispositions.

    <p>False (B)</p> Signup and view all the answers

    Aristotle defines virtue as "a habit of choosing, which keeps a mean in relation to ourselves according to the determination of reason"

    <p>True (A)</p> Signup and view all the answers

    According to Aristotle, what are the main characteristics of a good or virtuous person?

    <p>They realize what Aristotle called ‘the good life’ and eupraxia. (A), They are competent and knowledgeable. (C), They are good with mastery, consistency, and joy. (D)</p> Signup and view all the answers

    The doctrine of the mean means that virtue is in the middle point between two extreme opposite vices.

    <p>True (A)</p> Signup and view all the answers

    What are the four cardinal virtues?

    <p>Temperance (A), Practical Wisdom (B), Courage (D), Justice (E)</p> Signup and view all the answers

    What is practical wisdom?

    <p>The virtue that enables us to identify the good end we need to pursue and to choose the best means to achieve it.</p> Signup and view all the answers

    What is justice?

    <p>The habitual disposition which gives each person what is due to him/her.</p> Signup and view all the answers

    What is courage?

    <p>The virtue that enables us to persevere in pursuing the good, even when we are in the middle of obstacles.</p> Signup and view all the answers

    What is temperance?

    <p>The virtue of moderation that helps us to moderate our desires and control our passions.</p> Signup and view all the answers

    According to Aristotle, we can acquire virtues through imitation, experience and rules.

    <p>True (A)</p> Signup and view all the answers

    Business ethics is about choosing the best version of oneself.

    <p>False (B)</p> Signup and view all the answers

    Social ethics focuses on the good of each and every one living in a society.

    <p>True (A)</p> Signup and view all the answers

    The main ethical theories are Deontological ethics, Utilitarianism and Virtue ethics.

    <p>True (A)</p> Signup and view all the answers

    Flashcards

    Ethics

    A philosophical and practical study of human acts and behavior.

    Philosophy

    The love of knowledge; ethics is a branch of this.

    Deontological Ethics

    Ethical approach focusing on duties and adherence to rules.

    Categorical Imperative

    Kant's command that must be followed unconditionally.

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    Consequentialism

    Ethical theory assessing the morality based on consequences.

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    Utilitarianism

    A branch of consequentialism aiming for greatest happiness.

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    Principle of Utility

    Act to produce the greatest good for the greatest number.

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    Virtue Ethics

    Focus on developing good character traits for ethical living.

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    Eudaimonia

    A state of flourishing and living well according to virtue.

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    Doctrine of the Mean

    Virtue lies between two extremes (excess and deficiency).

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    Cardinal Virtues

    Four pivotal virtues: wisdom, justice, courage, temperance.

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    Practical Wisdom

    The ability to identify good ends and the means to achieve them.

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    Justice

    Giving each person what is due; fairness in interactions.

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    Courage

    The virtue of perseverance in pursuing the good despite challenges.

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    Temperance

    Moderation in desires and actions; balance in enjoyment.

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    Moral Experience

    Everyday experiences that shape our ethical understanding.

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    Philosophical Inquiry

    Systematic questioning to understand ethics and morality.

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    Free Will

    The capacity to make choices independent of external constraints.

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    Agent-Centered Theories

    Ethical theories focusing on the person performing the action.

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    Act-Centered Theories

    Focus on the action itself rather than the person's character.

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    Kant's Ethical Law

    Moral laws that everyone must follow for ethical behavior.

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    Happiness in Business

    Linking business practices to societal well-being and happiness.

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    Ethics in Organizations

    Moral principles guiding behavior within companies.

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    Social Ethics

    Ethics that considers the common good for all in society.

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    Ethical Reflection

    Critical examination of moral beliefs and choices.

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    Aristotle's Ethics

    Ethical framework focusing on virtues and practical wisdom.

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    Human Excellence

    Striving for the best version of ourselves through ethical living.

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    Ethics in Daily Life

    Application of ethical principles in everyday scenarios.

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    Ethical Dilemmas

    Complex situations where moral choices need to be made.

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    Study Notes

    Business Ethics

    • Focuses on philosophical foundations of business ethics
    • Explores concrete applications of business ethics to daily business life
    • Introduces ethical theories like deontology, consequentialism (including utilitarianism), and virtue ethics
    • Examines how ethical theories relate to everyday choices and prominent ethical theories
    • Notes that ethics examines human behavior and practical application
    • Argues that ethics is a practical discipline, helping one achieve human excellence and guiding virtuous conduct in the contexts of flourishing, actions, and decision-making.

    Table of Contents

    • Covers topics like philosophical frameworks for business ethics, defining ethics, practical aspects of ethics, ethics in the context of lives, perspectives on human action, deontological ethics, consequentialism, utilitarianism, the principle of utility, limits of principle of utility, the trolley dilemma, virtue ethics, comparing ethical theories, and ethics in business.

    Chapter 1: Philosophical Frameworks for Business Ethics

    • Introduces the philosophical foundations of business ethics, with a focus on concrete applications.
    • Discusses what ethics means to you in a class brainstorming activity.
    • Defines ethics as rooted in Greek word "ethos" meaning behavior.
    • Highlights three key characteristics of ethics: ethics is part of philosophy, focuses on human behavior, and has practical methodology and practical ends.
    • Separates ethics (a rational, systematic approach to morality) from moral experience (pre-philosophical).
    • Examines whether all actions are free, distinguishing actions under our control (moral acts) from those not under our control (acts of man).
    • Outlines different perspectives on human action, considering the context of the action.

    Deontological Ethics

    • Examines deontological ethics as rooted in "duty" and focused on categorical imperatives to be used in all scenarios.
    • Includes the Formula of Universal Law (act only on that maxim you can universalize) and the Formula of Humanity (treat humanity as an end, not merely as a means).

    Consequentialism and Utilitarianism

    • Explains consequentialism as evaluating actions based on their consequences, particularly focusing on utilitarianism as a prominent consequentialist approach
    • Utilitarianism seeks the greatest good for the greatest number, a Principle of Utility to bring about this outcome, and famous issues like Doctor's Dilemma and Trolley Dilemma to present the limits of this principle
    • Highlights ethical dilemmas to show limits of utilitarianism.

    Virtue Ethics

    • Positions virtue ethics as a method to evaluate actions based on the character traits and flourishing of the individual and the society
    • Defines virtue ethics as focusing on developing virtuous character and understanding the concept of eudaimonia (flourishing) and the doctrine of the mean, a golden midpoint between excess and deficiency of actions
    • Outlines the importance of virtues, like courage, temperance and justice, in leading a flourishing life
    • Explores the significance of virtues in acquiring a virtuous life, with a review of Plato's cardinal virtues- practical wisdom, justice, courage and temperance.

    Ethics as a guide to human excellence

    • Reviews different ethical theories
    • Highlights how ethics can be a guide to human excellence
    • Outlines the relationship between ethics, business, personal, and social.

    About the Author

    • Marta Rocchi is an Assistant Professor in Corporate Governance and Business Ethics at DCU Business School.
    • She holds a PhD and MSc in Economics, and specialization in the ethics of finance.

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    Business Ethics - 2023 PDF

    Description

    This quiz delves into the philosophical foundations of business ethics and its practical applications in daily business life. It covers essential ethical theories such as deontology, consequentialism, and virtue ethics, illustrating their relevance to decision-making and human behavior. Explore how these theories guide conduct and promote human excellence in business practices.

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