Chapter 6 Flashcards
Define Moral Philosophy
The specific principles or values people use to decide right from wrong. Guidelines for determining how to settle conflicts and optimize mutual benefit. Provide direction in formulating strategies and resolving ethical issues
What is Milton Friedman known for finding out?
-Markets reward or punish for unethical conduct without the need for government regulation -Currently the dominant form of capitalism
Who is Adam Smith?
-The father of free market capitalism -Developed the idea of the invisible hand
Define the Invisible Hand
is essentially a natural phenomenon that guides free markets and capitalism through competition for scarce resources. Adam Smith assumed that individuals try to maximize their own good (and become wealthier), and by doing so, through trade and entrepreneurship, society as a whole is better off. Furthermore, any government intervention in the economy isn’t needed because the invisible hand is the best guide for the economy.
No single moral philosophy is accepted by everyone. True or false?
True
Economic systems (influence/are influenced by/both) individual’s morals and society’s laws as a whole.
both. Economic systems depend on individuals coming together and sharing philosophies. Creates values, trust and expectations, allowing the system to work
What is economic value orientation?
Values that can be quantified by monetary means. If an act produces value, accept it as ethical
Difference between Idealism and Realism
Idealism: Places special value on ideas and ideals as products of the mind, such as Positive correlation to ethical decision-making. Realism is the view that an external world exists independent of our perceptions. Everyone is guided by self-interest. Negative correlation to ethical decision-making
The U.S. is (exporting/importing/neither/both) the idea of free market capitalism with other countries
exporting, despite fact that free markets may not solve all problems
What do Monists believe?
believe that only one thing is intrinsically good
Hedonism says that pleasure is the ultimate good. True or false?
True. There is also qualitative and quantitaitve hedonism.
Pluralists believe that no one thing is intrinsically good. True or False?
True
Which two ideas do the more modern view of instrumentalists, or pragmatics, reject?
Basically say that the end does not always justify means.
- Ends can be separated from the means -
- Ends, purposes, or outcomes are intrinsically good in and of themselves.
Book gives example of successful bankers that ended up dying poor, in jail, or of suicide. Thus, does money always guarantee happiness? Do ends always justify means?
Difference between qualitative and quantitative hedonism
quantitative - more pleasure is better qualitative - it is possible to get too much of a good thing like pleasure
Describe Obligation theories
Emphasize the means and motives by which actions are justified. Teleology and Deontology categories
What is the teleology category of obligation theory?
moral philosophies in which an act is considered morally right or acceptable if it produces some desired result such as pleasure, knowledge, career growth, realization of self interest, wealth, utility, fame, etc. Assess moral worth based off of consequences, thus called consequentialists at times.
What is the name of the theories that focus on the end result of actions and the goodness or happiness created by them?
Goodness Theories
Describe the deontological category of Obligation theories
Focuses on moral philosophies on rights of individuals and intentions of a behavior rather than consequences.
Deontologists Believe in compliance with stable moral principles defines ethicalness. True or false?
True
Nonconsequentialist belongs to (ontology/deontology)
Deontology. Nonconsequentialism - respect for persons. Individuals have certain rights - freedom on conscience, freedom of consent, freedom of privacy, freedom of speech, and due process Ontology is an unrelated subject.
Immanuel Kant is a contemporary deontologist. True or false?
True. He established the categorical imperative - Ethical acts can be viewed by everyone and the rationale behind the act is suitable as a universal principle
Define egoism
defines right or acceptable behavior in terms of consequences to the individual. Maximizes personal interests
Utilitarianism seeks the greatest good for the greatest number of people. True or false?
True
Two important teleological philosophies are egoism and utilitarianism. True or false?
True
Difference between Rule and Act utilitarians
Rule utilitarians: Determine behavior based on principles designed to promote the greatest utility Act utilitarians: Examine a specific action itself; not the rules governing it
What is an enlightened egoist
Take a long-term perspective and allow for the well-being of others though their own self-interests remain paramount
Define the Relativist Perspective
Individuals and groups derive definitions of ethical behavior subjectively from experience
Difference between Rule Deontologists and Act Deontologists
Rule deontologists: Conformity to general moral principles determines ethicalness Act deontologists: Actions are the proper basis on which to judge morality
Descirbe Metaethical relativism.
Proposes people see situations from their own perspectives. No objective way of resolving ethical disputes between different value systems and individuals
What are the three types of relativism? (DMN)
Descriptive, Metaethical, Normative
The three types of Justice are? (DIP)
Distributive - how things are distributed in society. Is it equal or fair? Interactional - everyone treating fairly the same. Procedural - we look at everyone equally with same process
Virtue Ethics states that Ethical behavior follows conventional moral standards and compares behavior against a standard “good” moral character. True or false?
True. Can be summarized as: -Good corporate ethics programs encourage individual virtue and integrity -The virtues associated with appropriate conduct form a good person -The ultimate purpose is to serve the public good -The well-being of the community goes together with individual excellence
Define procedural justice
Considers the processes and activities that produce desired outcomes
Difference between Descriptive and Normative relativism.
Descriptive relativism: Relates to observations of other cultures Normative relativism: Assumes one person’s opinion is as good as another’s
What are the six states of Kohlberg’s Model of Cognitive Moral Development? Also the Milgram Experiment
1.Punishment and obedience (doing what is told to avoid punishment) 2.Individual instrumental purpose and exchange (fairness for self) 3.Mutual interpersonal expectations, relationships, and conformity (conformity/rule-following/approval-seeking) 4.Social system and conscience maintenance (duty/authority/maintaining social order) 5.Prior rights, social contract, or utility (law-abiding, moral reasoning) 6. Universal ethical principles (abstract ethical principles take root)
Explain Interactional Justice
Based on relationships between organizational members, including employees and managers
Individuals use (different/similar/) moral philosophies for personal decisions than they use for work-related decisions
different. Two things may explain this behavior: -Pressures for workplace success differ from the goals and pressures in outside life -Morale character may change to become compatible with the work environment
Describe distributive justice
An evaluation of the results of a business relationship
The following three levels of ethical concern were raised by Kohlberg’s Model. True or false? 1.Concern with immediate interests and rewards and punishments 2.Concern with right as expected by the larger society or some significant reference group 3.Seeing beyond norms, laws, and the authority of groups or individuals
True
What was the importance of Kohlberg’s theory?
Shows that individuals can change their values through moral development Supports management’s development of employee’s moral principles
What may be a reason for white collar crime?
-Patterns of activities become institutionalized and may encourage unethical behaviors -Undecided employees go along with the majority, whether ethical or unethical -WCCs increase after economic recessions -Some businesspeople may have inherently criminal personalities, corporate psychopaths
Define White Collar Crime
Illegal acts committed for personal and/or organizational gain by abusing the trust and authority associated with a given position. White collar criminals are educated people in positions of power and respectability
Which sector has a high level of White collar crimes?
Financial sector
What do the three points of the three-hit theory say?
-Kohlberg used questionable research methods -His theory contradicts basic moral philosophy -His theory, while reliable, may not be valid
Are White collar crimes increasing, stable, or decreasing?
Increasing steadily. levels, not just the top levels of management, resulting in increased government efforts to detect and punish WCCs.
(Most/less than half/all/no) unethical behavior is not for personal gain, but to meet performance goals
Most. Rewards for performance goals and corporate culture in general are the most important drivers of ethical decision making. Equipping employees with skills that allow them to understand and resolve ethical dilemmas will help them make good decisions
What is the 4th stage of Kohlberg’s model?
4.Social system and conscience maintenance (duty/authority/maintaining social order)
Name one of the common justifications for white collar crimes.
(see image attached, slide 23)
What is the third stage of Kohlberg’s model?
- Mutual interpersonal expectations, relationships, and conformity (conformity/rule-following/approval-seeking)
Top internet fraud complaints are (FBI-related/identitfy-theft) scams. True or false?
True. Identity theft is second
What is Kohlberg’s second stage?
Individual instrumental purpose and exchange (fairness for self)
Difference between Kohlberg’s 5th and sixth stage?
5.Prior rights, social contract, or utility (law-abiding, moral reasoning) 6. Universal ethical principles (abstract ethical principles take root)
What is Kohlberg’s first stage?
1.Punishment and obedience (doing what is told to avoid punishment)
