Business Ethics

Question 1

Corporate social responsibility

Answer 1

• concept that corporations should be accountable for their actions and the impacts they have
• Businesses have responsibilities to their shareholders. and employees

Question 2

Freidman

Answer 2

• Argued that the only responsibility businesses have is to make profit for shareholders

Question 3

Corporate social responsibility - Kantian Ethics

Answer 3

• action is only truly good if it comes from a good will

- companies that sponsor charitable events in order to promote their own reputations would not be ethical

Question 4

Corporate social responsibility - Utilitarians

Answer 4

• need to way up potential pleasure and pain
• decide that it is in a businesses best interest to act responsibly
• but some cases where acting irresponsibly would cause happiness for greater number

Question 5

Whistle-blowing

Answer 5

• when an employee decides to make public belief that the business is acting unethically
• sometimes whistle-blowers are considered to be unethical. (when they could’ve handled discreetly or present one sided story)

Question 6

Whistle-blowing - Kantian Ethics

Answer 6

• on one hand there is a duty to tell the truth
• on other hand there is a duty of loyalty
• would have to decide which duties outweighed which others

Question 7

Whistle-blowing - Utilitarians

Answer 7

• would have to weigh up if it would bring pleasure or not

- act utilitarians would consider each situation on its own

Question 8

Good ethics is good business

Answer 8

• slogan
• good ethics can be difficult for businesses as sometimes an action that is beneficial for one group can have opposite effect on others

Question 9

Good ethics is good business - Kantian Ethics

Answer 9

• they should do the right thing

- difficult for companies though while trying to survive

Question 10

Good ethics is good business - Utilitarians

Answer 10

• Andrew Crane and Dirk Matten argue that there is are close links between a utilitarian approach to and economics because decisions are based on whichever outcome is likely to produce most beneficial results

Question 11

Globalisation

Answer 11

• about the integration of business, economics, industry and culture between different countries across the world
• creates issues for business ethics as it is more profitable to hire people for lower wages in different countries

Question 12

Rana Plaza

Answer 12

• its collapse is an example of when globalisation caused great harm to workers but was also important in bringing about benefits