Business ethics

Question 1

Ethics

Answer 1

“Doing the right thing.”
- Business ethics: Doing the right thing in business dealings

Question 2

Morals

Answer 2

refer to personal philosophical choices, i.e., what is right and
wrong in intentions, decisions, and actions

Question 3

Virtue

Answer 3

Demonstration of moral practice

Question 4

Ethos

Answer 4

reflects an individual’s attitude toward values: “Doing the right
thing when no one is watching

Question 5

Individualistic culture

Answer 5

Significant emphasis on individual
interests and independence
Prefer individuals to make decisions
Examples: Americans, Australians,
Canadians, Dutch, Scandinavians,
Anglo-Europeans

Question 6

Group-oriented culture

Answer 6

Value groups’ collective beliefs and practices
Strong and dependable relationships critically
important
Decisions usually collective process to reach
group consensus
Examples: Turks, Chinese, Indians,
Indonesians, Japanese, Malaysians,
Philippines

Question 7

“Corporate governance

Answer 7

involves a set of relationships between a
company’s management, its board, its shareholders and other stakeholders.
Corporate governance also provides the structure through which the
objectives of the company are set and the means of attaining those
objectives and monitoring performance are determined

Question 8

International Organization for Standardization

Answer 8

has been guiding organizations in mediating ethical and corporate governance risks since 2009
- develops and publishes international quality management standards, environmental standards, and information security management standard

Question 9

Ethics Theories

Answer 9

Ethical theories are frameworks that guide moral decision-making and are often embedded in our practices without explicit awareness. Understanding these theories can help clarify personal ethics and improve interactions with those who hold different ethical perspectives

Question 10

Ethics

Answer 10

Ethics refers to having appropriate morals, values, and conduct that are accepted by society and individuals.
Moral development, like cognitive development, progresses over time with experience and practice.

Question 11

Meta-Ethics

Answer 11

Meta-ethics examines the nature, foundations, and meaning of ethical concepts

Question 12

Applied Ethics

Answer 12

Applied ethics addresses practical ethical questions in specific contexts, such as personal behavior and business.
Focuses on actions: “Is stealing ethical?” or “Is lying ethical?”

Question 13

Act Utilitarianism

Answer 13

Focuses on evaluating each individual action based on its consequences.

Question 14

Rule Utilitarianism

Answer 14

Advocates following general rules that are likely to produce the greatest happiness over time.

Question 15

Universal Law

Answer 15

Act only according to maxims that can be willed as a universal law.

Question 16

Humanity Principle

Answer 16

Treat people as ends in themselves, not merely as means to an end.

Question 17

Kingdom of Ends

Answer 17

Act as if your actions establish universal laws in a community of rational beings.

Question 18

Ethics from a Macroeconomic Perspective

Answer 18

Ethics at this level looks at the broader socio-economic system and how it influences business behavior and policies.

Question 19

Ethics within a Mesosystem

Answer 19

This level focuses on ethical standards within organizations and businesses, addressing the roles of leaders, employees, stakeholders, and business operations.

Question 20

Ethics of Micro-Conduct

Answer 20

Ethics at this level pertain to the individual actions and decision-making processes of leaders and professionals within an organization.