Ethical Decision-Making Quiz

Course Timetable

• The course covers Business Ethics & Corporate Social Responsibility
• The timetable includes both in-person and online sessions
• Topics include introductions, personal ethics, normative theories, descriptive theories along with business ethics and management
• Specific dates and formats (e.g., in person, online) for different sessions are listed

Program for today

• Topics for the day are listed, like ethical and social responsibilities of companies, Stakeholder Theory

How to participate?

• Instructions for a collaborative online discussion platform (wooclap) are given, using event code BECSR

Flaw #1, Flaw #2, Flaw #3

• The purpose of a corporation is to maximize profits
• Managers should run the corporation for shareholders
• People are merely self-interested

What is a corporation?

• Corporations are a dominant form of businesses in a global economy
• Corporations hold independent legal status from their owners/shareholders, and have responsibilities, rights, and responsibilities of their own
• Corporations own their assets, including factories, offices, machinery etc
• Corporations are legally responsible for their actions

Are corporations morally and socially responsible?

• Some argue human beings bear moral and social responsibilities, not corporations
• Managers act as agents of shareholders & should focus solely on maximizing profit.
• Social and environmental issues are distractions from core business, and are irresponsible if they reduce profits
• Businesses should operate within the existing free-market rules

The Externalities, Power & Dependency arguments

• Corporations create negative consequences (e.g., pollution, resources depletion, community problems) for which they bear moral responsibility
• Corporations are powerful entities which wield influence in society, therefore have a responsibility to use power responsibly
• Corporations and society are mutually dependent, thereby having the responsibility to consider the interests of stakeholders

Carroll's CSR Model

• CSR signifies a company's effort to meet the economic, legal, ethical & philanthropic requirements of a given society
• Economic responsibilities form the foundation
• Legal responsibilities are based on a societal codification of right and wrong
• Ethical responsibilities focus on what is right, fair & just
• Philanthropic responsibilities involve community contributions and enhancing quality of life

CSR narrow view VS broad view

• A narrow view recognizes limited social responsibility and strictly confines their actions to what's legally required
• A responsive view means responding to market requests for contributions, and acting on a case by case basis
• A proactive view involves integrating social responsibility into a business' strategy, and contributing as part of business goals

Stakeholder Theory of the Firm

• A stakeholder in an entity is any person or group affected by or who affect the achievement of its objectives
• Two core principles for corporations are: 1) not violating others' rights, and 2) bearing responsibility for effects of actions on others

Stakeholder Vs CSR

• The CSR approach emphasizes corporate responsibilities
• The stakeholder approach focuses on groups the corporation has responsibility towards

Managing stakeholder expectations

• Key stakeholders, like employees, partners, customers, and the government, and how to manage their expectations.
• Stakeholders are linked to the company in a network-like model

Ethical Conduct in Business: Case Studies

• Specific organizational case studies are referenced to illustrate issues of ethical behavior

Instructions

• Detailed instructions for group work concerning films/series and ethical case studies, including steps for film/series selection, ethical decision analysis/justification (using theories from class)
• Instructions regarding which ethical theories to use (normative & descriptive), factors that influence ethical decision making, plus group presentation guidelines & deadlines

Deadlines to Remember

• Different deadlines for completing and submitting the various phases of the project are outlined

Ethical Theories: Practical Guide

• Summary and comparison of approaches/theories, including utilitarianism, deontology, and virtue ethics
• Explaining what these are and how they differ, using examples where relevant

Three Ethical Tests

• Methodology for assessing ethical dimensions of decisions, for judging whether it's morally right or wrong (The Rights test, The Outcomes Test, & The Integrity Test)

Normative Ethical Theories I & II

• Discussion of normative ethical theories: including utilitarianism, deontology, and virtue ethics
• Their basic principles, features, and implications, and how they apply to various situations.

Descriptive Ethical Theories

• Focuses on how ethical decisions are actually made in business
• Explains factors that influence the process and outcome of decisions including individual and situational factors

Stages in Ethical Decision Making

• Four stages: Awareness, Judgement, Intention, and Behavior
• Important aspect of the role of normative ethics in decision making

Factors influencing ethical decision making

• Individual factors (e.g., age, gender, culture, moral development, locus of control, rationalization, unconscious biases, and moral imagination)
• Situational factors : (e.g., power, emotional distance, bounded ethicality, organizational culture, authority, and moral framing, and pressure)
• These factors affect individuals who make ethical decision-making

Rationalizing Unethical Behaviors

• Different strategies used to justify unethical behaviors
• Examples of unethical behaviors, like cheating on exams, corruption and denouncing colleagues for promotion.

Limits of Deontology and Utilitarianism

• Focuses on the limitations and criticisms of the normative ethical theories of deontology, and utilitarianism's shortcomings in real-world application, considering how difficult it is to assess and define these theories in a business context

Formal Ethics Programmes

• Four main orientations: 1) Compliance, 2) Values, 3) External, and 4) Protection.
• Explaining the different orientations and how they address ethical issues

Business Ethics in a Global World

• Explanations of globalization and its relevant ethical issues
• Ethical impacts of globalization on various stakeholder groups (shareholders, employees, consumers, competitors, civil society groups, governments, and regulations)
• Methods for ethical business in the international context, including regional contrasts.

Sustainability

• The ethical implications of corporate sustainability
• Different approaches to understanding and engaging with sustainability issues
• Discusses the triple bottom line concerning economic, societal, and environmental parameters

Ethics & AI

• Ethical concerns and opportunities in Artificial Intelligence (AI)
• Framework assessing AI impact with regards to whether it's harmful, valuable or underused to society
• Clarifies the 3 key components (lawful, ethical, and robust) which are necessary to ensure trustworthy AI

ChatGPT & Moral Issues

• What ChatGPT is, its capabilities, and how it creates responses
• Potential benefits and risks (misuse) of Chat GPT regarding ethical issues of AI

Regional Differences

• Analysis of differing approaches to ethical conduct across various regions (e.g., Europe, North America, Asia) in business.
• Factors such as management styles and accountability differences.
• Comparing the key ethical issues in these regions.

Dimensions of Global Business Ethics

• Important dimensions of global business ethics
• Issues about differing ways of doing business, impacts on indigenous businesses, and the varying standards of labor and environment.
• Challenges in establishing accountability over an extended supply chain.

Sustainability and Tensions

• Discussion of tensions and difficulties in pursuing sustainability
• Three key components: levels (multifaceted), radical change, and contextual factors.

Sustainability is Not Easy,

• Illustrates the inherent complexity of implementing sustainability initiatives
• Emphasizes the need for large-scale changes, considerable investment of resources, and the significance of the Land Gap within climate plans

Understanding How to Tackle Ethical Challenges in an AI-Driven World

• How to evaluate opportunities, address risks, understand different ethical issues, and develop responsible AI practices
• Discussion of frameworks and guidelines used to navigate ethical dilemmas in AI
• Applying ethical principles for decision-making concerning AI.

Test your knowledge on ethical decision-making principles and theories. This quiz covers various ethical tests, approaches, and the stages involved in making moral judgments. Challenge yourself to understand the complexities of corporate ethics and social responsibility.