Midterm1

Question 1

What are the 7 Ethical Theories

Answer 1

Self-interest, Utilitarianism, Caring, Universal Rules, Individual Rights, Justice, Virtue

Question 2

Contemporary CSR Concepts (3)

Answer 2

Corporate Sustainability, Reputation Management, Social Impact Management

Question 3

3 Ethics Theories

Answer 3

Rule-Based, Consequential, Virtue

Question 4

Challenges to Capitalism

Answer 4

greed, mistrust, economic downturns, business failures, corporate crime

Question 5

Conscious Capitalism

Answer 5

concerned about the 3BL (social, economic, environmental)

Question 6

Cultural Relativism

Answer 6

upholds that culture differs fundamentally from one another

Question 7

Ethical Relativism

Answer 7

upholds that morality is relative to the norms of one’s culture

Question 8

Why do we behave ethically (Kohlberg’s Theory)

Answer 8

Most of us: to avoid punishment or gain rewards
Many of us: to follow the law
Very few of us: to do what is right

Question 9

Decision making process (EDM Model)

Answer 9

1. Facts
2. Ethical issues
3. Stakeholders
4. Alternatives
5. Impact on stakeholders (theories)
6. Decision and guidance
7. Monitor outcomes

Question 10

S.P.I.C.E.(R).

Answer 10

Society
Partners
Investors
Customers
Employees
(R)egulators

Question 11

Define Stakeholder

Answer 11

Someone who can significantly affect or be affected by the decision of a company