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Ethics and Moral Principles
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Ethics and Moral Principles

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Questions and Answers

What do norms refer to in the context of ethics?

  • Enduring beliefs about what makes a preferable existence
  • The distinction of right and wrong
  • Moral laws that we adhere to because they have a rational appeal
  • Beliefs about what we find valuable and that tell us how we should act day-to-day (correct)
  • What is a limitation of the distinction of right and wrong in ethics?

  • It uses a logic that is able to offer compelling arguments against abuses
  • It is not able to offer compelling arguments against abuses (correct)
  • It is not reflexive and critical
  • It is difficult to resolve disputes because it assumes basic goods need to be protected in society
  • What is the primary responsibility of a corporation according to the Stakeholder Theory?

  • To increase its profits as much as possible (correct)
  • To prioritize the interests of its employees
  • To prioritize the interests of all stakeholders
  • To prioritize the interests of the environment
  • What is the purpose of stakeholder analysis in business ethics?

    <p>To handle complexity and criticism in performance achievement</p> Signup and view all the answers

    What is a characteristic of continental philosophers' approach to ethics?

    <p>They are skeptical of absolutist claims</p> Signup and view all the answers

    Why is business ethics not considered aporetic?

    <p>Because it provides answers to questions</p> Signup and view all the answers

    What do principles refer to in the context of ethics?

    <p>Moral laws that we adhere to because they have a rational appeal</p> Signup and view all the answers

    What is a limitation of the approach that assumes a distinction of right and wrong?

    <p>It assumes that there are no basic goods that need to be protected in society</p> Signup and view all the answers

    According to Bentham's moral arithmetic, what is the basis for moral judgement?

    <p>Objective assessment of pleasure and pain</p> Signup and view all the answers

    What is the main goal of Bentham's hedonistic calculus?

    <p>To maximize pleasure for the greatest number of people</p> Signup and view all the answers

    What does Bentham mean by saying 'It is better to be a human dissatisfied than a pig satisfied'?

    <p>It is better to strive for excellence than to be satisfied with mediocrity</p> Signup and view all the answers

    Who determines what constitutes 'higher' and 'lower' pleasures according to Bentham?

    <p>Competent judges</p> Signup and view all the answers

    What is a key characteristic of goods according to Bentham?

    <p>They are incommensurable</p> Signup and view all the answers

    What is the primary focus of Bentham's moral arithmetic?

    <p>Assessing the pleasure and pain of actions</p> Signup and view all the answers

    What is the role of competent judges in Bentham's moral arithmetic?

    <p>To determine the 'higher' and 'lower' pleasures</p> Signup and view all the answers

    What is the core idea behind Bentham's hedonistic calculus?

    <p>That all actions contribute to more or less happiness</p> Signup and view all the answers

    What is the primary task of business organizations in a society?

    <p>To create wealth</p> Signup and view all the answers

    Why is stakeholder theory considered dangerous?

    <p>Because it undermines democracy</p> Signup and view all the answers

    What is the role of politicians in a society according to the text?

    <p>To distribute wealth</p> Signup and view all the answers

    What is the main argument against stakeholder theory?

    <p>It is a form of socialism</p> Signup and view all the answers

    What is the main idea behind Friedman's point of view?

    <p>That businesses should focus on making a profit and let politicians distribute wealth</p> Signup and view all the answers

    What is the main idea behind the concept of reasonable pluralism?

    <p>That we need a plural perspective on the relation between business and society</p> Signup and view all the answers

    What is the separation fallacy?

    <p>The idea that the economy can be separated from all other domains of society</p> Signup and view all the answers

    What is the relationship between the economy and other domains of society according to the text?

    <p>They are influenced by and part of each other</p> Signup and view all the answers

    What is the main idea behind the concept of a 'natural contract'?

    <p>A contract that allows humans to reframe from violence with respect to nature</p> Signup and view all the answers

    Why does Serres argue that nature should become the object of fear?

    <p>Because nature does not punish humans for their actions</p> Signup and view all the answers

    What is the relationship between humanity and nature, according to Serres?

    <p>Humans are in a deadly struggle with nature</p> Signup and view all the answers

    What is the main concern of Serres in terms of human impact on nature?

    <p>Finding a way to live together with nature</p> Signup and view all the answers

    What is the instrumental view of nature, according to Serres?

    <p>Nature is a source of resources for humans</p> Signup and view all the answers

    What is the consequence of humans taking too much from nature, according to Serres?

    <p>Nature will take back from humans</p> Signup and view all the answers

    What is Serres' criticism of science?

    <p>Science has developed in a way that prioritizes experts</p> Signup and view all the answers

    How does Serres view the relationship between nature and culture?

    <p>Nature is deeply intertwined with culture</p> Signup and view all the answers

    What is the main approach of Freeman's perspective on business?

    <p>Prescriptive, wanting to prescribe actions for businesses</p> Signup and view all the answers

    What is the main difference between Freeman's and Friedman's approaches?

    <p>Freeman wants to prescribe actions, Friedman wants to let businesses decide</p> Signup and view all the answers

    What is the relevance of the stakeholder theory debate?

    <p>It is important for managers to know what society expects from them</p> Signup and view all the answers

    What is the underlying spirit of philanthro-capitalism?

    <p>Richesse oblige</p> Signup and view all the answers

    What is a criticism of the stakeholder theory?

    <p>It puts too much emphasis on powerful stakeholders</p> Signup and view all the answers

    What is a limitation of firm-centric models?

    <p>They are sham models</p> Signup and view all the answers

    What is a key aspect of moral responsibility?

    <p>The human face</p> Signup and view all the answers

    What is a flaw of the stakeholder theory, according to Levinas?

    <p>It is too focused on firms, not individuals</p> Signup and view all the answers

    Study Notes

    Ethics

    • Ethics engages with concepts like norms, values, and principles to understand what society believes is right and wrong.
    • Values are enduring beliefs about what makes a preferable existence.
    • Norms are beliefs about what is valuable and guide our daily actions.
    • Principles are moral laws that we adhere to because they have a rational appeal.
    • The distinction between right and wrong can be used as a political tool to protect those in power from dissent and criticism.
    • Continental philosophers emphasize the need for contextual awareness, as what makes sense to one group may not be sensible to others.

    Stakeholder Theory

    • Stakeholders have different perspectives on what firms should achieve.
    • Stakeholder analysis is a way to handle complexity, acknowledging that performance is never without criticism or negative aspects.
    • The stakeholder theory is criticized for undermining democracy, as it allows entrepreneurs to distribute wealth without being accountable to the public.
    • Friedman's view is that a corporation's sole responsibility is to increase profits within the boundaries of the law and moral beliefs.
    • Stakeholder theory is seen as a form of socialism, as it doesn't take democracy seriously.
    • Reasonable pluralism is needed to understand the relationship between business and society.
    • The economy cannot be separated from other domains of society, and is influenced by culture, ethics, and society.

    Criticisms of Stakeholder Theory

    • The theory has theoretical flaws, such as too much emphasis on powerful stakeholders.
    • Firm-centric models are flawed, and thinking is not the same as acting.
    • The stakeholder theory is overly rational and bureaucratic, and does not consider the human face of moral responsibility.
    • Reading Levinas, it becomes apparent that the stakeholder theory is only concerned with firms, not individuals.

    Bentham's Hedonistic Calculus

    • Hedonistic calculus is a scientific approach to morality, using numbers to evaluate the virtuousness of an action.
    • Bentham proposes a moral arithmetic, where moral judgment is based on objective calculations, not emotions.
    • The goal is to maximize pleasure for the majority of the group.
    • All actions, ideas, or values contribute to the sum of happiness.
    • Goods are incommensurable, and there is no common measure for them.

    Serres' Natural Contract

    • The natural contract is necessary to reframe from violence with respect to nature.
    • Humanity's impact on nature is significant, and we need to find a way to live together with nature.
    • Nature is not just an instrumental source, but has value in and for itself.
    • Science has a role in delivering facts about the world, but experts should not be the sole decision-makers.
    • Nature is deeply intertwined with culture, and we must find a way to balance our relationship with nature.

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    Explore the concepts of ethics, norms, values, and principles that shape our understanding of right and wrong in society.

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