Introduction

Question 0

What is morality?

Answer 0

Morality is concerned with the norms, values and beliefs embedded in social processes which define right and wrong for an individual or a community

Question 1

What is business ethics?

Answer 1

The study of business situations, activities and decisions where issues of right and wrong are addressed

Question 2

What is ethics?

Answer 2

Ethics is concerned with the study if morality and the application of reason to elucidate specific rules and principles that determine right and wrong for a given situation. These rules and principles are called ethical theories.

Question 3

Why is business ethics important?

Answer 3

1) the power and influence of business in society is greater than ever before
2) business has the potential to provide a major contribution to our society eks jobs, taxes, environment
3) business malpractice can infect harm on individuals, communities and environment
4) few business people have this training
5) ethical violations continue to occur
6) demand on businesses of being ethical is becoming more complex
7) BE can provide the ability to assess the benefits and problems associated with different ways of managing ethics in organizations
8) provides us with knowledge that transcends the traditional framework of business studies and confront us with some of the most important questions faced by society

Question 4

Main priorities in addressing ethical issues in large corporations?

Answer 4

Financial integrity, employee/customer issues

Question 5

Main priorities in addressing ethical issues in small businesses?

Answer 5

Employee issues

Question 6

Approach to managing ethics in large corporations?

Answer 6

Formal, public relations and/or system based

Question 8

Approach to managing ethics in small corporations?

Answer 8

Informal, trust based

Question 9

Responsible and/or accountable to (small businesses)?

Answer 9

Owners

Question 10

Main constraints for business ethics in large corporations?

Answer 10

Shareholder orientation, size and complexity

Question 11

Main constraints for business ethics in small businesses?

Answer 11

Lack of resources and attention

Question 12

What is globalization?

Answer 12

A process which diminishes the necessity of a common and shared territorial basis for social, economic and political activities, processes and relations

Question 13

Why is globalization relevant for business ethics?

Answer 13

1) cultural issues
2) legal issues
3) accountability issues

Question 14

Ethical impacts of globalization for shareholders?

Answer 14

Provides potential for greater profitability but also greater risk

Question 15

Ethical impacts of globalization for employees?

Answer 15

Outsourcing can reduce cost and therefore provide jobs but also raise the potential for exploitation

Question 16

Ethical impacts of globalization for consumers?

Answer 16

Provides social benefits but also cultural imperialism and wearernization

Question 17

Ethical impacts of globalization for suppliers and competitiors?

Answer 17

Suppliers in developing countries face regulation form MNCs through supply chain management. Small scale indigenous competitors are exposed to powerful global players

Question 18

Ethical impacts of globalization for civil society?

Answer 18

Brings companies in direct interaction with local communities thereby raising the possibilities for erosion of traditional community life

Question 19

Ethical impacts of globalization for government and regulation?

Answer 19

Weakens governments and increases the corporate responsibility. Confront government with corporations form regions with different cultural expectations

Question 20

Who is responsible for ethical conduct in business? Europe, North America, Asia

Answer 20

E) Social control by the collective
NA) the individual
A) top managment

Question 21

Who is the key actors in business ethics? Europe, North America, Asia

Answer 21

E) government, trade unions, corporate associations
NA) the corporation
A) government, corporation

Question 22

What are the key guidelines for ethical behavior? Europe, North America, Asia

Answer 22

E) negotiated, legal framework of business
NA) corporate codes of ethics
A) managerial discretion

Question 23

What are the key issues in business ethics? Europe, North America, Asia

Answer 23

E) social issues in organizing the framework of business
NA) misconduct and immorality in single decisions situations
A) corporate governance and accountability

Question 24

What is the dominant stakeholder management approach? Europe, North America, Asia

Answer 24

E) formalized multiple stakeholder approach
NA) focus on shareholder value
A) implicit multiple stakeholder approach, benign managerialism

Question 25

What is sustainability?

Answer 25

Sustainability refers to the long-term maintenance of system according to environmental, economic and social considerations

Question 26

What is the triple bottom line?

Answer 26

John Elkington - businesses does not have one single goal, namely adding economic value, but it has an extended goal set which necessitates adding environmental and social value too

Question 27

Responsible and/or accountable to (large corporations)?

Answer 27

Shareholders and others stakeholders