BUL 4421-Midterm FAU Gendler COMPREHENSIVE EXAM
QUESTIONS |FREQUENTLY TESTED QUESTIONS |RECENTLY
TESTING REAL EXAM QUESTIONS|VERIFIED SOLUTIONS
(100% CORRECT)
The school of jurisprudence which holds that because society requires
authority, a legal and authoritative hierarchy should exist. When a law is
made, therefore,
obedience is expected because authority created it.
1. Must abide by duly authorized law
2. Law is distinct from morality
3. Moral questions about the law should not interfere with our inclination to
obey it.
4. A judge may write that she is deciding to enforce the law in question but
that her decision does not necessarily mean she sees the law as the
morally correct rule.
Legal Positivism
A school of jurisdiction that:
1. Follows tradition or custom to shape the law
2. Is closely linked with the doctrine of stare decisis
3. We assume past practice was the product of careful thought.
Historical School (aka tradition or custom)
,Judges who follow this school of thought are more likely to depart from
past court decisions to account for the fact that our society is constantly shifting
and evolving.
1. Judges should consider more than just the law
2. Judges should consider factors such as social and economic
conditions (Ex: The law protects pregnant women)
Legal Realism
An economic school of jurisprudence in which all costs and benefits of a
law are given monetary values. Those laws with the highest ratios of
benefits to costs are then preferable to those with lower ratios.
(Ex: (i) Polluted land is an economic loss, as it cannot be used for farming or
recreation. Polluted water can be toxic for fish and cannot be used for
drinking (ii) the price of environmental cleanup and lost productivity in the
economy as a whole may be even greater.
Cost Benefit Analysis
Chapter 2: Business Ethics
Chapter 2: Business Ethics
The use of ethics and ethical principles to solve business dilemmas.
Business Ethics
,Example of bad Business Ethics:
Ex: Accutane
- Is a company doing the right thing when it attempts to reduce the costs of
advertising by not listing all possible complications of the medicine for the
consumer?
Business Ethics include (but are not limited to) (3): P,C, SR
1. Decisions in choosing a method of production.
2. Decisions regarding how to compete with competing firms.
3. Social responsibilities of the firm
Decisions in choosing a method of production (example: bribes):
1. Dealing with bribes
2. Some companies only work on bribes in order to supply it.
3. Siemens AG is now forced to restructure itself to do business ethically and
legally.
WPH Framework for Business Ethics (3):
1. Who the decision impacts (stakeholders)
2. Purpose of the decisions
3. How to make the decisions (i.e. guidelines)
, Stakeholders of a firm are the many groups of people affected by the firm's
decisions, including but not limited to (6): MECCOF
FACE-COM
1. Management
2. Employees
3. Customers
4. Community where the firm operates
5. Owners/shareholders
6. Future generations
How should we think about the future generation stakeholders?
Think more broadly about additional stakeholders who may be affected just
as much in the long run. Then we will be less likely to make decisions that
have unintended
negative ethical impacts.
The basic unit of business ethics is ___ _.
values
Positive notions that capture our sense of what is good or desirable.
values
We derive our ethics from the interplay of ___ _.
values
QUESTIONS |FREQUENTLY TESTED QUESTIONS |RECENTLY
TESTING REAL EXAM QUESTIONS|VERIFIED SOLUTIONS
(100% CORRECT)
The school of jurisprudence which holds that because society requires
authority, a legal and authoritative hierarchy should exist. When a law is
made, therefore,
obedience is expected because authority created it.
1. Must abide by duly authorized law
2. Law is distinct from morality
3. Moral questions about the law should not interfere with our inclination to
obey it.
4. A judge may write that she is deciding to enforce the law in question but
that her decision does not necessarily mean she sees the law as the
morally correct rule.
Legal Positivism
A school of jurisdiction that:
1. Follows tradition or custom to shape the law
2. Is closely linked with the doctrine of stare decisis
3. We assume past practice was the product of careful thought.
Historical School (aka tradition or custom)
,Judges who follow this school of thought are more likely to depart from
past court decisions to account for the fact that our society is constantly shifting
and evolving.
1. Judges should consider more than just the law
2. Judges should consider factors such as social and economic
conditions (Ex: The law protects pregnant women)
Legal Realism
An economic school of jurisprudence in which all costs and benefits of a
law are given monetary values. Those laws with the highest ratios of
benefits to costs are then preferable to those with lower ratios.
(Ex: (i) Polluted land is an economic loss, as it cannot be used for farming or
recreation. Polluted water can be toxic for fish and cannot be used for
drinking (ii) the price of environmental cleanup and lost productivity in the
economy as a whole may be even greater.
Cost Benefit Analysis
Chapter 2: Business Ethics
Chapter 2: Business Ethics
The use of ethics and ethical principles to solve business dilemmas.
Business Ethics
,Example of bad Business Ethics:
Ex: Accutane
- Is a company doing the right thing when it attempts to reduce the costs of
advertising by not listing all possible complications of the medicine for the
consumer?
Business Ethics include (but are not limited to) (3): P,C, SR
1. Decisions in choosing a method of production.
2. Decisions regarding how to compete with competing firms.
3. Social responsibilities of the firm
Decisions in choosing a method of production (example: bribes):
1. Dealing with bribes
2. Some companies only work on bribes in order to supply it.
3. Siemens AG is now forced to restructure itself to do business ethically and
legally.
WPH Framework for Business Ethics (3):
1. Who the decision impacts (stakeholders)
2. Purpose of the decisions
3. How to make the decisions (i.e. guidelines)
, Stakeholders of a firm are the many groups of people affected by the firm's
decisions, including but not limited to (6): MECCOF
FACE-COM
1. Management
2. Employees
3. Customers
4. Community where the firm operates
5. Owners/shareholders
6. Future generations
How should we think about the future generation stakeholders?
Think more broadly about additional stakeholders who may be affected just
as much in the long run. Then we will be less likely to make decisions that
have unintended
negative ethical impacts.
The basic unit of business ethics is ___ _.
values
Positive notions that capture our sense of what is good or desirable.
values
We derive our ethics from the interplay of ___ _.
values
