Midterm Flashcards

Question

What are the properties of responsibility?

Answer 1

``` Accountable for actions Accept fault Apologize Don't blame others Take reasonable steps to correct what led to the mistake so that it will not happen again I the future. ```

Answer 2

Avoid unnecessary harm Do good when little cost to oneself Sensitive to others' feelings

Answer 3

Obey laws Assist community Protect environment

Answer 4

Morality depends on whether the majority of the reference point (e.g. firm, industry/competitors, customers, society/community) believes the activity should be considered morally acceptable. Moral judgment can easily change based on time, circumstance, culture, etc. Consequences or individual moral rights can be ignored. The views of a single person should not constitute sufficient justification for determining what is ethical.

Answer 5

Psychological egoism is when people act according to their own perceived self-interest (not a moral standard). Ethical egoism is when people (or the firm itself) only act according to their own perceived long-term self interest (a moral standard). Altruism or self sacrifice is unacceptable. Do you let your friend know about the job?

Answer 6

Greatest good for the greatest number. Determine the costs and benefits for each stakeholder under each alternative. Select alternative that produces greatest net good (or least cost). E.g. Should google's car swerve to avoid children? Susan vs. David pain/pleasure example. Criticisms: difficulty with measurement, unable to deal with rights (individuals could be sacrificed) and justice (minorities suffer burdens with few benefits).

Answer 7

It is only moral if the sum total of the benefits are greater than the costs for a given action AND the net benefits are greater than all other possible alternatives. It is only moral if the net benefits are greatest for all people affected by the action, not just the person performing the action.

Answer 8

The moral worth of an action is based on the reasons or motive for acting. You must act based on moral duty and not merely due to concern over consequences. The categorical imperative determines moral duty: - universalizability: if everyone did it, would it become self-defeating - reversibility: put yourself in the other person's shoes - respect: don't treat people merely as a means to an end Problem: consequences potentially ignored

Answer 9

Action is morally right if it respects the rights of individuals affected by the action. - consumer or employee's right to life, health, and safety creates duty on company to prevent and disclose known dangers - shareholder's right to property creates duty on directors, managers, and employees not to steal their property (through fraud, theft, conflicts of interest, or possibly charitable giving without consent). Criticism: difficult to resolve conflicting rights (ex. can you test drug on homeless alcoholics?)

Answer 10

Creates duty on others not to interfere: - consumer's right to life, health, and safety creates duty on company to make safer products and disclose known dangers. - shareholder's right to property creates duty on managers and employees not to steal their property

Answer 11

``` Retributive Compensatory Procedural Societal Distributive ```

Answer 12

Just imposition of punishments and penalties upon those who do wrong (fine corporation, put CEOs in jail). - person was not ignorant or unable - certain person actually did wrong - punishments consistent and proportioned to the wrong

Answer 13

Just ways of compensating people for what they have lost when wronged by others (ex. Restitution). - action causing injury was wrong or negligent - person's action was cause of injury - person voluntarily caused injury (not accident)

Answer 14

Fairness in the process (ex. Bidding for a contract) - impartial, unbiased, objective - transparent - reasons given Ex. Cutting cake to share with friend

Answer 15

Rawlsianism (John Rawls) The veil of ignorance: - if unborn, what principles would you like to establish for your society? Key fairness principle - inequalities are arranged so that they are to the greatest benefit of the least advantaged and remain under conditions of fair equality of opportunity.

Answer 16

Equitable or fair distribution of the benefits (ex. wages) and burdens (ex. firing) imposed by an action or policy. Similar individuals should be given similar benefits and suffer similar burdens OR treat people the same except when they differ in relevant ways.

Answer 17

- Contribution/productivity (ex. How much output) - Effort (how hard one tries) - merit/seniority (how long have you been there) - needs and abilities (how much is able to be produced or required) - equality (everyone treated the same regardless of differences)

Answer 18

Public/newspaper test - would you want your decision to appear in the newspaper? Parent/child test - what would you tell your child to do? Pillow/sleep test - will your decision allow you to sleep peacefully?

Answer 19

- Relevant facts - Ethical issues - Alternatives (moral imagination) - Stakeholders (who is affected or can affect the firm) - Ethical analysis (apply moral standards to alternatives) - Recommended action (steps/preparation, who must be persuaded, contingency plan)

Answer 20

- Under reversibility, you would want promise to be kept if you were Lori. - under Kantism, she should keep her promise - conflicting loyalties - utilitarianism - everyone benefits if you tell B&B Core values? Relativism? Egoism? Rights? Justice?

Answer 21

1960s - CSR - social impact - do good 1970s - business ethics - morality - avoid harm 1980s - stakeholder management - non-shareholders - balance interests 1990s - sustainability - natural environment - ensure future 2000s - corporate citizenship - philanthropy and community - contribute to society

Answer 22

Social economic Environmental

Answer 23

To mislead about green efforts

Answer 24

Economic (required) - be profitable Legal (required) - obey the law Ethical (expected) - be ethical Philanthropic (desired) - be a good corporate citizen

Answer 25

Economic - be profitable - egoism Legal - obey the law & avoid lawsuits - relativism Ethical - go beyond the law (Circles overlap) Body shop is right in middle. Anonymous donation is legal but not ethical/economic.

Answer 26

A corporation's only social responsibility is "to make as much money as possible while conforming to the basic rules of society": - obey the law - conform to ethical custom (business norms where you do business) - acting without deception or fraud

Answer 27

Business should do more than make money, we believe that companies have additional ethical obligations (i.e. beyond Friedman's criteria) and/or philanthropic obligations (ex. helping to solve social problems)

Answer 28

- stakeholder theory - moral obligations to all stakeholders, not merely shareholders - social contract - corporation is a citizen of society (reciprocity) - social power - social responsibility arises from power held by corporation, able to do more good

Answer 29

A social investment is an investment made with an intent to take into account the impact of the investment on the society in which the investment is made. Economic return may or may not be the principal goal of the investment. Over $3T in assets (12% of all $ invested)

Answer 30

- greed - insatiable desire for something and you will do anything to fulfill it - selfishness - unwilling to share (but not insatiable) - self interest - might be willing to share - enlightened self interest - how can I help other people because it helps me - altruism or self sacrifice - completely selfless

Answer 31

Greed is good. Greed works.

Answer 32

Accept Quit Sabotage Blow the whistle (internal or external)

Answer 33

- wrong is serious enough to justify injuries caused to oneself and one's family - reasonable attempts to prevent the wrong have failed - clear evidence organization is engaged in wrongful activity - reasonably certain whistle-blowing will prevent the wrong or avoid it's repetition

Answer 34

- false claims act of 1986 - whistleblowers involving misconduct by government contractors can receive 25-30% of judgment - sarbanes-oxley act of 2002 - public companies must set up hotlines, ensure protections against retaliation for whistle-blowing) - Dodd-frank act of 2010 - reward of whistleblower voluntarily provides the SEC with original information that leads to a successful prosecution)

Answer 35

- exhaust all internal channels - confirm family support - contact a lawyer - find another job first - anonymous if possible - document everything - find others to come forward with you

Answer 36

- contract view - buyer beware - merely comply with the contract and have disclaimers to release liability - due care - sellers take care - produce safest possible goods and fully disclose if defects remain - paternalistic and how much must be done to ensure a safe product? - social cost - strict liability - pay for all injuries caused due to defect in product - encourages careless consumers and leads to huge insurance premiums

Answer 37

- contract view - relativism, egoism, core values (promise keeping) - due care - core values (honesty, caring), Kantianism (respect), rights (safety) - social cost - utilitarianism, justice (fairness)

Answer 38

Moral rights - consent Reversibility - go into patient's shoes Respect

Midterm Flashcards

(62 cards)