15 Questions
Which ethical theory is Flo applying in her business decisions for Grounds Maintenance, Inc.?
The principle of rights
What is the ethical concern regarding Corporate Lockdown Inc.'s responsibilities?
An ethical duty beyond those duties mandated by law
What principle does CEO Quinn tend to base his decisions on?
The Golden Rule
What concept is Plastic Paints, Inc. demonstrating by ensuring safety and minimal environmental impact?
Corporate social responsibility
Which ethical theory does Gina adhere to as the owner of Hi-way Transport, Inc.?
The principle of rights
According to the utilitarian theory of ethics, what is not required?
The acquiring of the means of production by workers.
What is a key factor in determining whether a business decision is ethical?
Affecting the rights of others.
In business deals, what ethical standards does Gerard, the chief executive officer of HomeCare, Inc., follow?
Philosophical reasoning.
What is Discount Retail Corporation expected to do as a 'citizen'?
Participate in bettering communities and society.
In studying business law, what does ethics include in a business context?
Right or wrong behavior.
What is not an effective way to deter unethical behavior in the workplace?
Distributing rewards without regard to ethics.
What should be monitored by an ethical program to be effective in large corporations like Hatchery Inc.?
A committee that is separate from other corporate departments.
What does Dian and other officers of Extraction Corporation apply in business contexts?
The consequences of an action.
What is not required for the application of the utilitarian theory of ethics?
The acquiring of the means of production by workers.
According to the view that Discount Retail Corporation is a 'citizen,' what is the company expected to do?
Participate in bettering communities and society.
Study Notes
Ethical Theories and Business Decisions
- Flo's business decisions at Grounds Maintenance, Inc. are guided by teleological ethics, which considers the consequences of actions.
- Corporate Lockdown Inc.'s responsibility is a concern due to its potential social and environmental impact.
Decision-Making Principles
- CEO Quinn tends to base his decisions on the principle of self-interest, prioritizing personal gain.
Business Ethics and Social Responsibility
- Plastic Paints, Inc. demonstrates corporate social responsibility by ensuring safety and minimizing environmental impact.
- Gina, owner of Hi-way Transport, Inc., adheres to deontological ethics, which focuses on moral rules and duties.
Utilitarian Theory
- According to utilitarian theory, maximizing overall happiness or well-being is the primary goal, but it does not require equal distribution of happiness.
Ethical Decision-Making
- A key factor in determining whether a business decision is ethical is its impact on stakeholders.
Business Ethics Standards
- Gerard, CEO of HomeCare, Inc., follows principles of justice and fairness in business deals.
Corporate Citizenship
- Discount Retail Corporation, as a 'citizen', is expected to contribute to the common good and uphold ethical standards.
Business Law and Ethics
- Ethics in a business context includes morals, values, and principles that guide decision-making.
Effective Ethics Programs
- An ineffective way to deter unethical behavior in the workplace is relying solely on punishment.
- An effective ethics program should monitor and enforce ethical standards, particularly in large corporations like Hatchery Inc.
Business Ethics Application
- Dian and other officers of Extraction Corporation apply virtue ethics, which focuses on character development, in business contexts.
- The utilitarian theory does not require absolute moral rules or equal distribution of happiness.
Test your knowledge of business ethics with this quiz, featuring scenarios related to ethical decision-making in the workplace. Explore various ethical principles and apply them to real-world situations.
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