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Question 1

Introduction to Business Ethics

Answer 1

Business ethics examines the relationship between capitalism and ethics, questioning whether businesses should adhere to ethical principles.

Question 2

Good Ethics is Good Business

Answer 2

The idea that ethical business decisions lead to profitability and a positive public image, avoiding government regulation.

Question 3

Utilitarianism and Business Ethics

Answer 3

Utilitarians believe some restrictions on business are necessary to maximize overall happiness and prevent harm.

Question 4

Kantian Ethics and Business Ethics

Answer 4

Kantians assert businesses must not treat people as mere means and should uphold duties, including fair treatment and honesty.

Question 5

Libertarian View on Business Ethics

Answer 5

Libertarians like Milton Friedman argue businesses’ sole responsibility is to maximize profit, equating profit with ethical good through economic freedom.

Question 6

Corporate Social Responsibility (CSR)

Answer 6

CSR is the theory that businesses have ethical responsibilities toward the environment and their communities.

Question 7

Types of CSR

Answer 7

CSR includes Environmental CSR (reducing environmental impact) and Community CSR (respecting human rights, avoiding exploitation, philanthropy).

Question 8

CSR vs ESG

Answer 8

ESG (Environmental, Social, and Governance) extends CSR by including the requirement to avoid political corruption.

Question 9

Utilitarianism on CSR

Answer 9

Utilitarians generally support environmental CSR but might reject philanthropy as a business responsibility unless it maximizes happiness.

Question 10

Kantian Ethics on CSR

Answer 10

Kantians demand respect for workers and avoidance of exploitation, fraud, and environmental harm.

Question 11

Critique of CSR as Window-Dressing

Answer 11

Critics argue CSR can be hypocritical, serving as PR to distract from a business’s overall unethical practices.

Question 12

Anand Giridharadas on CSR

Answer 12

Anand Giridharadas criticizes CSR as self-serving, emphasizing that businesses, such as Amazon, should do less harm rather than more good.

“We don’t need you to do more good. We need you to do less harm.”

Question 13

Globalisation

Answer 13

Globalisation refers to the integration of businesses globally, raising issues like CSR violations and monopolies.

Question 14

Impact of Globalisation on CSR

Answer 14

Globalisation can lead businesses to violate CSR, especially in developing countries where regulations are weaker.

Question 15

Monopolies and Globalisation

Answer 15

Globalisation can create monopolies, undermining competition and innovation, which harms the free market.

Question 16

Utilitarianism on Globalisation

Answer 16

Utilitarians might support globalisation if it maximizes happiness but oppose its negative aspects like market manipulation.

Question 17

Kant on Globalisation

Answer 17

Kantians oppose globalisation when it leads to CSR violations and exploitation.

Question 18

Whistleblowing

Answer 18

Whistleblowing involves leaking information about unethical business practices, with both positive and negative consequences.

Question 19

Utilitarianism on Whistleblowing

Answer 19

Act utilitarianism supports whistleblowing if it maximizes happiness, depending on the specific situation.

Question 20

Kant on Whistleblowing

Answer 20

Kantians support whistleblowing as it aligns with the duty to tell the truth and treat people as ends. Kant would also regard the treatment of people as mere means to be wrong due to the second formulation of the categorical imperative.

Question 21

Sweatshops

Answer 21

Sweatshops are factories with poor working conditions, relevant to CSR, globalisation, and whistleblowing debates.

Question 22

Utilitarian Defence of Sweatshops

Answer 22

Some utilitarians argue sweatshops provide better opportunities than alternatives in impoverished regions, though conditions are poor.

Question 23

Criticism of Utilitarianism in Business Ethics

Answer 23

Utilitarianism can justify bad actions if they result in greater overall happiness, conflicting with deontological human rights.

Question 24

Kantian Critique of Utilitarianism

Answer 24

Kantian ethics opposes treating people as mere means, regardless of the positive consequences.

Question 25

Adam Smith on Capitalism

Answer 25

Adam Smith argued that rational self-interest in a free market leads to societal prosperity, benefiting everyone.

Question 26

Utilitarianism on Capitalism

Answer 26

Utilitarians support free markets for general happiness but advocate for restrictions to address market failures.

Question 27

Kant on Capitalism

Answer 27

Kantian ethics supports market interactions that treat individuals as ends, but opposes exploitative practices.

Question 28

Milton Friedman on CSR and Globalisation

Answer 28

Friedman asserts that a business’s only responsibility is to maximize profits for shareholders, rejecting CSR and market restrictions.