28 Questions
What was the initial perception of business ethics back in 1993?
It was seen as a passing trend that would soon fade away.
How was business ethics being incorporated into companies in the early 1990s?
Through new-hire orientations and management training programs.
What was the academia's stance towards business ethics in the early 1990s?
It was gaining traction as a subject for serious academic study.
How did one prominent business writer for Fortune Magazine describe the state of American business in 2007?
Praising its resurgence after a period of humiliation.
What did Smith propose as the source of a good life?
Expression of beneficence
Why did Smith argue that self-love can spur individuals to improve their condition?
To better one's own condition
According to Smith, what must individuals balance to be considered virtuous?
Prudence, strict justice, and benevolence
What did Kidder emphasize about the success of capitalism?
It needs a moral foundation
What event is mentioned as outdoing itself on the shame index just about a year after business seemed to be back?
The financial markets collapse
Why is business ethics considered far from a fad?
Because it's an ongoing phenomenon that must be better understood and managed
Who are mentioned as contributing to Enron's collapse besides Enron executives and employees?
Enron's auditors and bankers
What scandal is described as unparalleled in scope and fueling public outrage like no other business disaster in the text?
Financial industry debacle in 2008
Why were people angry and mistrustful after the financial debacle?
Due to the lack of regulations in business practices
What did Rushworth Kidder emphasize in relation to Adam Smith's work?
The significance of aligning business practices with ethical values
Why does the text mention Adam Smith's book 'The Theory of Moral Sentiments'?
To illustrate the disconnect between business practices and ethical principles
What does Adam Smith's quote at the beginning of his book suggest about human nature?
Human beings are primarily selfless and empathetic
What is defined as ethical behavior in business according to the text?
Behavior consistent with society's agreed upon business principles
How do many of the standards surrounding ethical behavior in business manifest?
As laws
Why is it important to consider the relationship between law and business ethics?
To understand that following the law doesn't always encompass ethical behavior
What influences the decisions of individuals in work organizations?
Characteristics of both individuals and organizations
What does the text suggest about the role of good upbringing in determining ethical conduct?
It is an important factor but not the only one.
Why do some individuals believe ethics should not be taught?
It is believed that ethics should be a personal issue.
In the context of organizational ethics, what is one reason mentioned for teaching employees about ethical dilemmas?
To help recognize and deal with ethical issues at work.
Why is it likened to failing to teach a machinist how to operate a machine safely if employees are not helped to recognize the risks in their jobs?
It poses a danger similar to operating a machine without proper training.
What does the text define as 'ethics'?
A code of conduct governing individuals or groups
How does the text suggest employers handle ethical conduct?
By focusing on conduct and developing policies for employee activities
What is the primary emphasis of the text regarding ethics?
Conduct and ethical standards governing individuals or groups
Why might there be controversy about teaching ethics, according to the text?
'Ethics' having multiple definitions
Explore the aftermath of a crisis that left people worldwide angry and mistrustful of various entities in the business world. Learn about the risks of divorcing business from ethics and values through recent business history examples.
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