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Flashcards in Business Ethics Deck (12)
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1

Corporate social responsibility

- concept that corporations should be accountable for their actions and the impacts they have
- Businesses have responsibilities to their shareholders. and employees

2

Freidman

- Argued that the only responsibility businesses have is to make profit for shareholders

3

Corporate social responsibility - Kantian Ethics

- action is only truly good if it comes from a good will
- companies that sponsor charitable events in order to promote their own reputations would not be ethical

4

Corporate social responsibility - Utilitarians

- need to way up potential pleasure and pain
- decide that it is in a businesses best interest to act responsibly
- but some cases where acting irresponsibly would cause happiness for greater number

5

Whistle-blowing

- when an employee decides to make public belief that the business is acting unethically
- sometimes whistle-blowers are considered to be unethical. (when they could've handled discreetly or present one sided story)

6

Whistle-blowing - Kantian Ethics

- on one hand there is a duty to tell the truth
- on other hand there is a duty of loyalty
- would have to decide which duties outweighed which others

7

Whistle-blowing - Utilitarians

- would have to weigh up if it would bring pleasure or not
- act utilitarians would consider each situation on its own

8

Good ethics is good business

- slogan
- good ethics can be difficult for businesses as sometimes an action that is beneficial for one group can have opposite effect on others

9

Good ethics is good business - Kantian Ethics

- they should do the right thing
- difficult for companies though while trying to survive

10

Good ethics is good business - Utilitarians

- Andrew Crane and Dirk Matten argue that there is are close links between a utilitarian approach to and economics because decisions are based on whichever outcome is likely to produce most beneficial results

11

Globalisation

- about the integration of business, economics, industry and culture between different countries across the world
- creates issues for business ethics as it is more profitable to hire people for lower wages in different countries

12

Rana Plaza

- its collapse is an example of when globalisation caused great harm to workers but was also important in bringing about benefits