Ethics and Business

Question 1

What must responsible decision making rely on?

Answer 1

The personal values and principles of the individuals involved

Question 2

What is the concept of butterfly effect?

Answer 2

A simple flap of butterfly in Manila might cause typhoons in Singapore

Question 3

TAASA

Ethics is NOT…

Answer 3

• the same as feelings and emotions
• about legality
• about following the culturally accepted norms
• science
• a religion

Question 4

FRUCV

What are the five sources of ethical standards?

Answer 4

• Fairness or Justice
• Rights Approach
• Utilitarian Approach
• Common Good Approach
• Virtue Approach

Question 5

Under this approach, ethical action is the one that provides the most good or does the least harm.

Answer 5

Utilitarian Approach

Question 6

This approach deals with consequences; it tries both to increase the good done and to reduce the harm done.

Answer 6

Utilitarian Approach

Question 7

Its ethical corporate action is the one that provides the most good and does the least harm for all who are affected.

Answer 7

Utilitarian Approach

Question 8

Under this approach, ethical action is the one that best protects and respects the moral rights of those affected.

Answer 8

Rights Approach

Question 9

This approach starts from the belief that humans have dignity based on their human nature per se or on their ability to choose freely what they do with their lives.

Answer 9

Rights Approach

Question 10

This approach means that under a kind of dignity, people have a right to be treated as ends and not merely as means to other ends.

Answer 10

Rights Approach

Question 11

What are the examples of moral rights?

Answer 11

1. Rights to make one’s own choices about what kind of life to lead
2. Rights to be told the truth
3. Rights not to be injured
4. Rights to a degree of privacy

Question 12

What is the particular duty mentioned in the often-said rights imply duties?

Answer 12

Duty to respect others’ rights

Question 13

This idea implies that ethical actions treat all human beings equally - or if unequally, then fairly based on some defensible standard.

Answer 13

Fairness or Justice

Question 14

It is the notion that life in a community is good in itself, and our actions should contribute to that life.

Answer 14

Common Good Approach

Question 15

This approach suggests that the interlocking relationships of society are the basis of ethical reasoning.

Answer 15

Common Good Approach

Question 16

This approach suggests that the respect and compassion for all others, especially the vulnerable, are requirements of ethical reasoning.

Answer 16

Common Good Approach

Question 17

This approach calls the attention to the common conditions that are important to the welfare of everyone.

Answer 17

Common Good Approach

Question 18

What are the questions to answer when using the Common Good Approach?

Answer 18

1. How does one benefit from society?
2. Who benefits from one’s actions?

Question 19

It is a very ancient approach to ethics where ethical actions ought to be consistent with certain ideal virtues that provide for the full development of humanity.

Answer 19

Virtue Approach

Question 20

What enables us to act according to the highest potential of our character and values?

Answer 20

Virtues

Question 21

What are the questions asked in a Virtue Approach?

Answer 21

1. What kind of person qill I become if I do this?
2. Is this action consistent with my acting at my best?

Question 22

What requires a trained sensitivity to ethical issues and a practiced method for exploring the ethical aspects of a decision and weighing the considerations that should impact our choice of course of action?

Answer 22

Good ethical decisions

Question 23

What are the five steps in the framework for ethical decision making?

Answer 23

1. Recognize an Ethical Issue
2. Get the Facts
3. Evaluate Alternative Actions
4. Make a Decision and Test it
5. Act and Reflect on the Outcome

Question 24

Which step in the framework is the following question?

Could this decision or situation be damaging to someone or to somegroup?

Answer 24

Recognize an Ethical Issue

Question 25

# Which step in the framework is the following question? Does this decision involve a choice between a good and a bad alternative?

Answer 25

Recognize an Ethical Issue

Question 26

# Which step in the framework is the following question? Is this issue about more than what is legal or what is most efficient? If so, how?

Answer 26

Recognize an Ethical Issue

Question 27

# Which step in the framework is the following question? What are the relevant facts of the case? What facts are not known? Can I learn about this situation? Do I know enough to decide?

Answer 27

Get the Facts

Question 28

# Which step in the framework is the following question? What individuals and groups have an important stake in the outcome? Are their stakes high or low? Are some concerns more important? Why?

Answer 28

Get the Facts

Question 29

# Which step in the framework is the following question? What are the options for acting? Have all the relevant persons and groups been consulted? Have I dentified creative options?

Answer 29

Get the Facts

Question 30

# Which step in the framework is the following question? What approach? Which option will produce the most good and do the least harm?

Answer 30

Evaluate Alternative Actions * Utilitarian Approach

Question 31

# Which step in the framework is the following question? Which approach? Which option best respects the rights of all who have a stake?

Answer 31

Evaluate Alternative Actions * Rights Approach

Question 32

# Which step in the framework is the following question? Which approach? Which option treat people equally and proportionately?

Answer 32

Evaluate Alternative Actions * Justice Approach

Question 33

# Which step in the framework is the following question? Which approach? Which option best serves the community as a whole, not just some members?

Answer 33

Evaluate Alternative Actions * Common Good Approach

Question 34

# Which step in the framework is the following question? Which approach? Which option leads me to act as the sort of person I want to be?

Answer 34

Evaluate Alternative Actions * Virtue Approach

Question 35

# Which step in the framework is the following question? Considering all the approaches, which option best addresses the situation?

Answer 35

Make a Decision and Test it

Question 36

# Which step in the framework is the following question? If I told someone I respect - or told a television audience - which option I have chosen, what would they say?

Answer 36

Make a Decision and Test it

Question 37

# Which step in the framework is the following question? How can my decision be implemented with greatest care and attention to the concerns of all stakeholders?

Answer 37

Act and Reflect on the Outcome

Question 38

# Which step in the framework is the following question? How did my decision turn out, and what have I learned from this specific situation?

Answer 38

Act and Reflect on the Outcome