ankigpt-export (1) Flashcards
(30 cards)
How can businesses align their management decisions with ethical principles?
By prioritizing ethical and moral considerations in decision-making processes and organizational culture.
How do individual ethics at the micro level influence company ethics?
Individual ethics shape decision-making, which collectively forms a companys ethical culture.
What is the role of moral motives in shaping a companys ethical stance?
They reflect the companys belief in acting according to moral values.
What challenges does deliberative democracy present in the context of corporate governance?
Challenges include idealism, the potential for indecisiveness, and whether achieving consensus is feasible.
What is the general goal of business ethics in terms of maintaining a license to operate?
To meet stakeholder expectations for long-term social acceptance and support.
What is the significance of Kantian theory in the context of business ethics?
It emphasizes universal moral laws and the dignity of individuals, requiring actions to be morally consistent.
How does neo-classical economics view the concept of profit maximization versus social responsibility?
Neo-classical economics prioritizes profit maximization as the primary social responsibility of businesses.
What are the main characteristics of virtue ethics in ethical theories?
Focuses on the intention behind actions and emphasizes moral character and virtues.
How does deontological ethics differ from teleological ethics?
Deontological ethics focuses on the morality of the action itself, while teleological ethics emphasizes the consequences.
What are the advantages and disadvantages of utilitarianism as an ethical framework?
Advantages: inclusive and focuses on the greater good. Disadvantages: potential for discrimination and overgeneralization.
How is morality defined in the context of business ethics?
A system of beliefs, values, and principles that guide an individuals judgment of right and wrong.
How do institutional motives influence ethical behavior in businesses?
They create external pressures from stakeholders like government, customers, and NGOs that lead to ethical actions.
How does discourse ethics contribute to the identification of moral norms?
It facilitates inclusive dialogue among stakeholders to identify and agree on norms collectively.
How do shareholder and stakeholder theories differ in their approach to business ethics?
Shareholder theory focuses on profit maximization, while stakeholder theory emphasizes managing multiple interests for consensus.
What moderators influence the relationship between Corporate Social Performance (CSP) and Corporate Financial Performance (CFP)?
Industry/markets, customers, and employees.
What are the key differences between shareholder theory and stakeholder theory?
Objectives (profit vs responsibility), assumptions, scale of success, and dimensions of success.
What are the micro, meso, macro, and supra levels of ethics?
Micro - individual ethics; Meso - company ethics; Macro - society-wide ethics; Supra - global institutional ethics.
What role does company ethics play at the meso level in guiding employee behavior?
Company ethics provide principles and standards that guide employee actions and decision-making.
What assumptions are made about the Homo oeconomicus model in neo-classical economics?
Assumes individuals are rational, self-interested, fully informed, and have constant preferences.
How can achieving corporate social performance lead to better stakeholder relationships?
It fosters trust and transparency, leading to improved stakeholder engagement and reduced regulatory scrutiny.
How does society-wide ethics at the macro level affect business regulations?
It influences the creation of regulations and policies that govern business practices.
How does ethical behavior lead to employee retention and improved processes?
Ethical practices create a positive work environment, resulting in higher employee satisfaction and loyalty.
What are the forms of legitimacy that businesses can attain?
Pragmatic, moral, and cognitive legitimacy.
What are the three main reasons for the relevance of business ethics?
Institutional motives, moral motives, and economic reasons.
