Chapter 5: Ethics and Business Decision Making

Question 1

What are some strategies of Ethical decision making? (6 basic guidelines)

Answer 1

1) The Law, is the action you are considering legal?
2) Rules and Procedures
3) Values; Not looking for loopholes in society’s policies
4) Conscience
5) Promises
6) Heroes

Question 2

What are “Duty-Based Ethics”?

Answer 2

Often are derived from revealed truths, such as religious precepts, and can also be derived from philosophical reasoning.

Question 3

What are some Examples of “Duty-Based Ethics”?

Answer 3

1) Religious ethical standards such as the 10 commandments
2) Kantian Ethics; Philosophical reasoning, Immanuel Kant, identified general moral behaviors based on the fundamental nature of human beings.

Question 4

Which style of Ethics implies that human beings have basic rights?

Answer 4

Duty-Based Ethics.

Question 5

What are “Outcome Based Ethics”?

Answer 5

outcome oriented, it focuses on the consequences of an action, not on the nature of the action itself or on any set of pre established moral values or religious beliefs. An action is morally correct or “right” when among the people it affects, it produces the greatest amount of good for the greatest amount of people.