Podcast
Questions and Answers
What does ethics primarily deal with?
What does ethics primarily deal with?
- Voluntary human conduct (correct)
- Enforced decisions
- Emotional responses
- Factual judgments
Which statement best defines business ethics?
Which statement best defines business ethics?
- A legal framework for business operations
- The application of ethics in business practices (correct)
- The study of economics in business
- A focus on maximizing profits only
How are normative sciences characterized?
How are normative sciences characterized?
- They focus on factual analysis.
- They analyze what ought to be. (correct)
- They are quantitative in nature.
- They are strictly empirical.
What is a key ethical consideration when introducing advanced technology?
What is a key ethical consideration when introducing advanced technology?
What makes an action classified as cold-blooded murder in ethical terms?
What makes an action classified as cold-blooded murder in ethical terms?
Which of the following is NOT associated with business ethics?
Which of the following is NOT associated with business ethics?
What type of judgments does ethics concern itself with?
What type of judgments does ethics concern itself with?
What is the relationship between productivity and social responsibility in business?
What is the relationship between productivity and social responsibility in business?
What is a key benefit of treating employees with dignity in a business?
What is a key benefit of treating employees with dignity in a business?
Which of the following is a reason for ethical problems in businesses?
Which of the following is a reason for ethical problems in businesses?
What can personal gain cause in a workplace setting?
What can personal gain cause in a workplace setting?
What factor might cause individual values to differ from an organization's goals?
What factor might cause individual values to differ from an organization's goals?
Which scenario is likely to lead to ethical issues within a workforce?
Which scenario is likely to lead to ethical issues within a workforce?
Why can it be difficult to identify unethical employees during recruitment?
Why can it be difficult to identify unethical employees during recruitment?
Which of these does NOT contribute to ethical problems in organizations?
Which of these does NOT contribute to ethical problems in organizations?
What is a consequence of having employees with dubious character?
What is a consequence of having employees with dubious character?
Which value is rated highest among the corporation executives surveyed in 1982?
Which value is rated highest among the corporation executives surveyed in 1982?
What is a potential consequence of unethical behavior in business?
What is a potential consequence of unethical behavior in business?
What is considered the central goal of managers within an organization?
What is considered the central goal of managers within an organization?
Which of the following values was rated the lowest among the surveyed values by corporation executives in 1982?
Which of the following values was rated the lowest among the surveyed values by corporation executives in 1982?
Why might a proprietor choose to ignore unethical practices within their company?
Why might a proprietor choose to ignore unethical practices within their company?
What is indicated as a significant factor that leads to unethical practices in a company?
What is indicated as a significant factor that leads to unethical practices in a company?
Which of the following is NOT listed as a goal that follows from organizational effectiveness?
Which of the following is NOT listed as a goal that follows from organizational effectiveness?
Which value is considered important for managers concerning their jobs?
Which value is considered important for managers concerning their jobs?
What could be the result of an employee becoming a whistleblower?
What could be the result of an employee becoming a whistleblower?
What is a critical ethical conflict faced by companies with unethical employees?
What is a critical ethical conflict faced by companies with unethical employees?
Which of the following abilities was rated as important by 66% of the executives surveyed?
Which of the following abilities was rated as important by 66% of the executives surveyed?
Which value indicates a focus on improving service within organizations?
Which value indicates a focus on improving service within organizations?
How does unethical behavior within a company usually manifest?
How does unethical behavior within a company usually manifest?
What is one of the consequences of effective management as per the values discussed?
What is one of the consequences of effective management as per the values discussed?
What term is used to describe the action of reporting unethical practices in a company?
What term is used to describe the action of reporting unethical practices in a company?
What is a characteristic of employees who may engage in unethical conduct?
What is a characteristic of employees who may engage in unethical conduct?
What is the primary purpose of transformational leadership during mergers and takeovers?
What is the primary purpose of transformational leadership during mergers and takeovers?
Which function of ethics involves setting standards for moral judgment?
Which function of ethics involves setting standards for moral judgment?
What does the term 'responsibility' in the context of ethical behavior refer to?
What does the term 'responsibility' in the context of ethical behavior refer to?
How is universalisability defined in ethical terms?
How is universalisability defined in ethical terms?
What role does honesty in tax payments play in a government's function?
What role does honesty in tax payments play in a government's function?
Which of the following best describes the dynamic relationship in the transition stage of moral development?
Which of the following best describes the dynamic relationship in the transition stage of moral development?
What is indicated by the ultimate end or highest good in ethics?
What is indicated by the ultimate end or highest good in ethics?
What is the significance of better communication at all levels during transitions in organizations?
What is the significance of better communication at all levels during transitions in organizations?
In terms of ethics, what is a significant challenge related to individual needs versus the needs of others?
In terms of ethics, what is a significant challenge related to individual needs versus the needs of others?
What aspect of borrowed funds management is crucial for lending institutions?
What aspect of borrowed funds management is crucial for lending institutions?
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Study Notes
Introduction to Ethics
- Ethics involves the study of moral behavior and conduct; it is categorized as a normative science.
- Normative sciences evaluate facts within the framework of 'what ought to be' rather than 'what is.'
- Ethics concentrates on voluntary human conduct, distinguishing it from compelled actions.
Business Ethics
- Business ethics applies ethical principles within a corporate context, focusing on moral decision-making in business practices.
- Ethical businesses achieve profitability while maintaining ethical practices and fulfilling social responsibilities.
- Conflicts can arise between profit maximization and social responsibilities, especially regarding employee welfare and productivity.
Ethical Dilemmas in Management
- Introducing advanced technology to replace traditional occupations creates ethical dilemmas for management.
- Ethical decision-making in businesses can lead to higher morale and productivity when employees are treated with dignity.
Ethical Challenges Facing Businesses
- Personal gain, individual values differing from organizational goals, and competitive pressures contribute to ethical dilemmas.
- Cross-cultural contradictions pose additional challenges in maintaining ethical standards.
Recruitment and Ethical Behavior
- Recruiting ethically aligned personnel is challenging, as unethical individuals may slip into organizations.
- Businesses must navigate the fine line between employee rights and the need for ethical behavior in hiring practices.
Influence on Organizational Values
- Managers often prioritize organizational efficiency, high productivity, and corporate loyalty along with personal integrity.
- A 1982 survey of corporate executives highlighted values such as responsibility, honesty, and capability as crucial.
Functions of Ethics
- Ethics sets standards for moral judgment, guiding actions deemed right and proper.
- It involves obligations towards ensuring moral duties are met in various situations.
Universalisability
- Universalisability refers to the principle that moral norms should apply universally, fostering the notion of collective ethical responsibility.
Implications of Ethics in Business
- Companies face ethical issues when personal gain overshadows collective organizational goals.
- Whistleblowing encapsulates the ethical conflicts faced when individuals must balance loyalty to the organization with accountability for wrongdoing.
Outcome of Positive Ethical Practices
- Businesses adhering to ethical standards often experience improved employee morale and productivity, leading to enhanced overall performance and reputation.
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