Exam 1

Question 1

Divine Command Theory

Answer 1

Resolution of dilemmas is based upon religious beliefs

Question 2

Natural Law

Answer 2

There are certain rights and conduct controlled by God, and no matter what a society or government does, those rights and law remain supreme

Question 3

Ethical Egoism Theory

Answer 3

Egoists believe they should should make decisions that maximize their own self interest.

Question 4

Utilitarian Theory

Answer 4

Defines right or acceptable behavior as that which provides the greatest good to the greatest number of people. Have to do a cost/benefit analysis which compares all alternatives before choosing the one that is best.

Question 5

Trolley Problem

Answer 5

Utilitarians would favor whatever option in which the greater number of lives are saved.

Question 6

Categorical Imperative

Answer 6

Individuals should evaluate their actions in light of the consequences that would follow if everyone in society acted the same way

Question 7

Contractarians and Justice

Answer 7

Veil of ignorance. What rules would you impose if you had no idea whether you would be a prince or a pauper

Question 8

Rights Theory

Answer 8

Everyone has a set of rights and the government is obligated to protect those rights

Question 9

Moral Relativists

Answer 9

Definitions of ethical behavior are derived subjectively from the experiences of individuals and groups

Question 10

Virtue Ethics

Answer 10

An acquired set of virtues is used to make decisions

Question 11

Peter Drucker

Answer 11

Above all do no harm

Question 12

Laura Nash 12 Questions

Answer 12

Have you defined the problem accurately, how would you define the problem if you stood on the other side of the fence, how did this situation occur in the first place, to whom and what do you give your loyalties as a person and as a member of an organization, what is your intention in making the decision, how does this intention compare with the likely results, whom could your decision injure, can you engage the affected parties in a discussion of the problem before you make your decision, are you confident that your position will be as valid over a long period of time, could you disclose without qualm your decision to people, what is the symbolic potential of you action if understood or misunderstood, under what condition would you allow exceptions to your stand?

Question 13

Dr. Norman Vincent Peale and Kenneth Blanchard

Answer 13

Is it legal? Is it balanced? How does it make me feel?

Question 14

Warren Buffett

Answer 14

Contemplating any business act an employee should ask himself whether he would be willing to see it immediately described by an informed and critical reporter on the front page of the local paper

Question 15

The Wall Street Journal Model

Answer 15

Am I in compliance with the Law? What contribution does this choice of action make to the company, shareholders, community and others? What are the short and long term consequences?

Question 16

Types of ethical dilemmas

Answer 16

Taking things that don’t belong to you, saying things that aren’t true, giving or allowing false impressions, buying influence or engaging in conflict of interest, hiding or divulging information, taking unfair advantage, committing acts of personal decadence, perpetrating interpersonal abuse, permitting organizational abuse, violating rules, condoning unethical actions, balancing ethical dilemmas

Question 17

Steps for Analyzing Ethical Dilemmas

Answer 17

1) Make sure you have a grasp of all of the facts available. Be sure you are familiar with all the facts
2) List any information you would like to have but don’t and what assumptions you would have to make to resolve the dilemma
3) Take each person involved in the dilemmas and list the concerns they face or might have. Be sure to consider the impact on those specifically mentioned in the case
4) Develop a list of resolutions for the problem
5) Evaluate the resolutions for costs, legalities, and impacts
6) Make a recommendation on the actions that should be taken

Question 18

Caring

Answer 18

High concern for people, Low concern for performance

Question 19

Integrative

Answer 19

High concern for people, high concern for performance

Question 20

Apathetic

Answer 20

Low concern for people, low concern for performance

Question 21

Exacting

Answer 21

Low concern for people, high concern for performance

Question 22

Milton Friedman

Answer 22

When business people advocate that businesses have a social responsibility that are “preaching pure and unadulterated socialism”
Only people can have responsibilities
Agency- relationship between two parties, where one of the parties called the agent agrees to represent or act for the other called the principal

Question 23

Edward Freeman

Answer 23

The notion that managers have a duty to stockholders with the notion that managers bear a fiduciary duty to stakeholders.

Question 24

Stakeholders

Answer 24

Have a stake or claim in some aspect of a company’s products

Question 25

Primary Stakeholders

Answer 25

Those whose continued association is absolutely necessary for a firm's survival

Question 26

Secondary Stakeholders

Answer 26

Do not typically engage in transactions with a company and are not essential for its survival

Question 27

How we avoid ethical dilemmas

Answer 27

Call it a different name, rationalizing dilemmas away

Question 28

Ice T and the Body Count Album

Answer 28

Ice T released album depicting despair and anger that is in American inner cities. In 1992 Protestors grew and Ice T withdrew "cop killer" then split with time warner. Time warner backed Ice T and even did a 4 for 1 stock split. Time warner then moved in a direction releasing movies like free willy. Primary people involved were: Attorneys Gerald Levin- TW president Time Warner Employees Time Warner stakeholders/stockholders Ice T Law enforcement Resolutions: Rights theory Ethical Egoism Divine Command theory

Question 29

NASA Challenger

Answer 29

Launch was set to take place on a cold cloudy day with temps below 30 degrees. Launch had already been delayed several times due to the weather and the recommended temp range for boosters. Booster temp range was between 40 and 90 degrees. NASA failed to fix the O ring and also launch below recommended temps resulting in the challenger carrying teacher and students to blow up. Primary people involved: 7 astronauts Deceased astronauts and their familes Students of teacher Thinkol company CEO of thinkol Thinkol engineers Emplyees of thinkol Stockholders of thinkol Larry Mulloy- said not to launch Alan Mcdonald- director of the solid rocket motors project Bob Lund Resolutions: Virtue Ethics Ethical Egoism Wall Street Journal

Question 30

Penn State

Answer 30

Jerry Sandusky stated second mile and would sexually assault children. Many people knew about this but never told. Those people along with Sandusky would face criminal charges. People Involved: Jerry Sandusky Joe Paterno Wendell Courtney Alycia Chambers Ron Schreffler Jerry Lauro Vicky Triponey Second Mile Board of Trustees Graham Spanier Tim Curley Gary Schultz Thomas Harmon Jim Calhoun Micheal Mcqueary Cynthia Baldwin Resolutions: Ethical Egoism Rights Theory Categorical Imperative

Question 31

Guns

Answer 31

Guns have been a hot topic for a while. Smith and wesson was number one gun retailer and were bought by a british company. Laws began to pass regarding the size of gun magazines and now more citizens are calling for more gun related laws. People involved: Firearm and ammunition manufacturers The national rifle association Legislative Tomkins George Tucker John Lott Saf-t-hammer lock corporation Lawyers involved in litigation Resolutions: Rights Theory Utilitarianism Peter Drucker Theory