Business Ethics Flashcards
What happened to Apple in 2010?
They had a string of production workers commit suicide in Longhua, China in protest of long work hours and low pay.
Despite the events of 2010, what happened to Apple’s profit increase?
Apple saw a 52% profit increase that year.
What do H&M do?
Pay hourly rates of 13p/hr in sweatshops in Myanmar and Bangladesh.
Would a Kantian ethicist agree with GEIGB?
No, as they would argue businesses shouldn’t act morally to make money, but should act morally out of good will.
Strength of applying Kantian ethics to Business Ethics
Exploitation is never allowed, as the notion of treating people as ends in themselves is engrained in Kant’s hypothetical imperatives.
What does Nestle do?
Nestle have vast plantations on the Ivory Coast that utilise child and slave labour to produce cocoa.
Quote from Henry Ford
“A business that makes nothing but money is a poor kind of business.”
Quote from Milton Friedman
“To make as much money for their shareholders as possible”
What did a study conducted at Norwich University show?
The stock price of the 100 firms with the most ethical business cultures outperformed peers by 300%.
Who was Jack Welch?
Chairman and CEO of General Electric
“Buy or bury the competition”
What is CSR?
A corporations obligation to its stakeholders.
Quote from Kant (+book) on exploitation
“Act that you treat humanity never merely as a means but always at the same time as a ends”- Groundwork in the Metaphysics of Morals
What is the Public Interest Disclosure Act?
1998
Encourages whistleblowing that serves the public’s interest by threatening 10 yrs in prison for businesses that seek retribution for whistleblowers.
What did Norman Bowie argue?
Whistleblowing only violates a “prima facie duty of loyalty to ones employer.”-meaning it may at first seem immoral but it is better to serve public interest.
Who was Edward Snowden?
An employee at the National Security Agency who reported a mass surveillance programme monitoring US/UK internet activity without consent. He was convicted of violating the Espionage Act of 1917 and is currently hiding in Russia.
