Business ethics and CSR

Question 0

Ethical formalism (deontological)

Answer 0

• actions should follow a universal law regardless of intentions and consequences
• we have to tell the truth

===> dilemma tell truth if other get harmed?

Question 1

What does the utilitarian (theological) approach to business ethics suggest?

Answer 1

• maximise good
• minimise harm
• the rightness or wrongness of an action depends on its consequences

Question 2

Environmental regulations

Answer 2

• environment as public good

- environmental regulations differ between countries.

Question 3

Who deals with corruption

Answer 3

• OECD

- ORGANISATION FOR ECONOMIC COOPERATION AND DEVELOPMENT

Question 4

4 straw men approaches

Answer 4

• Friedman doctrine: increase profits within the law
• cultural relativism: ethics are culturally determined (where they are)
• righteous moralist: multinationals home country standards should be followed in foreign countries
• naïve immoralist: if others are not following norms firm should not either