Ethical Values correct answers those beliefs and principles that seek to promote human well-being in an impartial way
Business Ethics correct answers -Values, standards, and principles within business
-Studies those values, standards, and principles but also seeks to articulate and defend the o...
MGT 552 QUIZ || with 100% Verified Solutions.
Ethical Values correct answers those beliefs and principles that seek to promote human well-
being in an impartial way
Business Ethics correct answers -Values, standards, and principles within business
-Studies those values, standards, and principles but also seeks to articulate and defend the ones that ought to or should operate in business
Business Ethics (Foundations) correct answers -Ethical theory: rights vs. utility
Basic human rights and property or derivative rights vs. maximizing the overall good
Moral Theory (Morality) correct answers A system of Rules, Norms and Principles for controlling human behavior in order to promote human welfare/flourishing
(Morality cont'd) correct answers -Necessary condition for the very existence of a society; without this chaos
-Works to counteract self-interest
-Goal is to expand human sympathy for interest of others
Descriptive vs. Prescriptive correct answers Prescriptive is how things should be
Descriptive is how things are
Ethics is about prescriptive morality
Prescriptive Moral Theory (Cultural Relativism) correct answers Cultures are so different no common moral foundation
Normative Relativsim correct answers Extreme version.
Nobody as a right to criticize the morality of others or impose their own beliefs
Mechanism of Control correct answers External: relies on punishment and reward
Internal: relies on socialization and internalizing of values and norms
Utilitarianism correct answers A dominant theory of Morality that maximizes happiness/interest satisfaction on balance for all effected.
Focus: Consequentialist, Aggregate, Collective
Utilitarianism (Characteristics) correct answers -Not about benefitting the most people -Cost/Benefit approach: Optimize Net Benefit
-Considers ALL Persons effected as well as ALL viable alternatives
- Considers Long Term Consequences
-Ethical decisions become decisions about factual matters
-Not tied essentially to any specific policy or choice; instead is a framework for deciding between alternatives policies and choices. A theory of Rights correct answers Function: Rights protect Interests of Persons (from the majority, from pursuit of the common good from other persons)
Basic Rights correct answers -Freedom from threats of severe bodily harm by others
-Freedom to express ones opinions
-Ability to collectively determine conditions of a shared social system
-Freedom to associate with others of ones choosing
-Freedom to exercise religious commitments
Derivative Rights correct answers Depend for their importance on contribution towards achieving some other good such as protecting a basic right to promote desired social goal or policy. (Privacy, Press, Property)
Virtue Ethics correct answers Consider the moral character of the individuals How character traits can contribute or obstruct a happy and meaningful life.
Stakeholders correct answers persons or groups that affected or were affected by an organizations decisions, policies, and operations.
Differences: Businesses have a responsibility to consider the interest of all stakeholders beyond just shareholders.
-Shareholders loses privileged positon in stakeholder model; simply another stakeholder rather than the primary beneficiary of business decisions.
Utilitarianism (Stakeholder Model) correct answers Management must consider the well-being of
all stakeholders in business decisions
Rights-Based Theory correct answers People are never a means to an ends; people are an ends themselves.
Ignoring rights of employees and other stakeholders in pursuit of profits is unjust
Organizational Culture correct answers a system of shared meaning held by members that distinguishes the organization from other organizations.
-Creates distinction b/w organizations -Shapes employees self identity
-Controls behavior of members, sets standards, conformity
-Sense making under uncertainty
How an ethical Org Culture is created correct answers Beliefs and values of founder.
Selection of new employees
Guidance of top managers Socialization
Org Structure and Policies
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