Business Ethics Flashcards
What must you know about Business Ethics
Corporate social responsibility
Whistle Blowing
Good ethics is Good business
Globalisation
What is Corporate social responsability
The idea that a business or organisation has ethical responsibilities to the wider community and environment even though they’re a private company
What is Whistle Blowing
Is when an employee acts in the public interest to alert the employer or public to wrongdoing within the organisation
What are the types of whistleblowing
Private - thoughts expressed within the company
Public - thoughts expressed outside the company
What are the protentional reasons for whistleblowing
Discrimination, Illegal activity, Bullying, Rules broken
What may be a cost of whistleblowing
Loss of jobs and suicide
Why should whistleblowing be promoted within companies
Ensures social responsibility
Encourages integrity from employees
Greater good
What does it mean by ‘good ethics as good business’
Adam Smith approach is utilitarian, its idea is that we will harm our reputation and make less money ultimately if we harm employees
What two things did Adam Smith create
Law of supply and demand: how much a business charges or how much it pays it’s workers is linked to how many workers are available
Division of labour: Makes several people work on one thing rather than one person be overworked
What is globalization
The integration of economies, industries, markets, culture and policy-making around the world
We are all connected more and more through the internet
What are some effects of globalisation
+ Cheaper production in other countries
-. Loss of national identity
+ Better trade links
-. Countries being taken over by Western industries
What would a Utilitarianist say about Business Ethics
Support for globalisation as there would be more jobs and more money
Judgment needs to be made with whistleblowing
Minimum state intervention
What would a Kantian say about Business Ethics
A person needs to be honest even if it were bad for business
Would want employee to work out of duty and not a pay check
Supportive of whistleblowing and ethics of people/workers
