BUSA 2106 TEST QUESTIONS AND ANSWERS A+
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Economic Interdependence
Problem arises bc the executives and managers who control what the stockholders own
are sometimes able to manipulate corporate actions for their own benefit actions that
have unacceptable risks to the owners and others
What are the end results of ethical matters?
Leading the "good life" (those moral goals and objectives we choose to pursue)
Morality
Involes what we mean by our (MYSELF) values of right and wrong
Ethics
A systematic statement of right and wrong together with a philosphical system
Ethics and Law
Ethical values are ultimately superior to law in ensuring responsible business behavior
Differences BTW ethics and law
1. Many ethical values (i.e. treatment of animals) are not enforced and many laws (i.e.
regarding traffic violations) do not address ethical concerns
2. Motivation to observe moral rules comes from within, the motivation to observe law
comes from outside
Formalism
Affirms absolute mortality. An act in itself is right or wrong; always in every situation (A
lie is a lie)
Categorical Imperative
You have a moral duty to act in the way you believe everyone should act( Act how you
wish others to act) - Kant
Social Contract Theory
Concerns itself with how to construct a just society given the many inequalities of
wealth, knowledge, and social status
What should we assume with the Social Contract Theory?
That we don't know our age, gender, race, intelligence, strength, wealth, or social status
bc it keeps us from being self-interested in the ethical values we consider
Rawls 1st priniciple
Everyone is entilited to certain basic equal rights
Rawls 2nd principle
Social and economic inequalities must be based on what a person does and everyone
has equal opportunity for achievement
Consequentialism
Concerns itself with the moral consequences of actions rather than with the morality of
the actions themselves (Lying isnt unethical, its the loss of trust or harm done by lying
that's unethical)
How does a consequentialist determine whether an action is ethical or unethical?
If actions increase the common good, they are ethical. If actions cause overall harm to
society, they are unethical.
GRADED. Buy Quality Materials!
Economic Interdependence
Problem arises bc the executives and managers who control what the stockholders own
are sometimes able to manipulate corporate actions for their own benefit actions that
have unacceptable risks to the owners and others
What are the end results of ethical matters?
Leading the "good life" (those moral goals and objectives we choose to pursue)
Morality
Involes what we mean by our (MYSELF) values of right and wrong
Ethics
A systematic statement of right and wrong together with a philosphical system
Ethics and Law
Ethical values are ultimately superior to law in ensuring responsible business behavior
Differences BTW ethics and law
1. Many ethical values (i.e. treatment of animals) are not enforced and many laws (i.e.
regarding traffic violations) do not address ethical concerns
2. Motivation to observe moral rules comes from within, the motivation to observe law
comes from outside
Formalism
Affirms absolute mortality. An act in itself is right or wrong; always in every situation (A
lie is a lie)
Categorical Imperative
You have a moral duty to act in the way you believe everyone should act( Act how you
wish others to act) - Kant
Social Contract Theory
Concerns itself with how to construct a just society given the many inequalities of
wealth, knowledge, and social status
What should we assume with the Social Contract Theory?
That we don't know our age, gender, race, intelligence, strength, wealth, or social status
bc it keeps us from being self-interested in the ethical values we consider
Rawls 1st priniciple
Everyone is entilited to certain basic equal rights
Rawls 2nd principle
Social and economic inequalities must be based on what a person does and everyone
has equal opportunity for achievement
Consequentialism
Concerns itself with the moral consequences of actions rather than with the morality of
the actions themselves (Lying isnt unethical, its the loss of trust or harm done by lying
that's unethical)
How does a consequentialist determine whether an action is ethical or unethical?
If actions increase the common good, they are ethical. If actions cause overall harm to
society, they are unethical.
