Week 1

Question 1

Define ethics

Answer 1

The study of right and wrong, duty and obligation, moral norms, individual character, and responsibility.

Question 2

Define business ethics

Answer 2

the study of what constitutes right and wrong or good/bad in a business context.

Question 3

Ethical Misconduct (4)

Answer 3

1. Illegal practices at the workplace
2. Conflicts of interest
3. Insider trading
4. Abusive behavior

Question 4

Normative ethics definition

Answer 4

How decisions ought to be made (theoretical)
Normative statement: People should be more important than profit

Question 5

Descriptive ethics

Answer 5

how decisions are actually made (scientific)

Question 6

Ethical Absolutism

Answer 6

claims moral principles are eternal and universally applicable

Question 7

Ethical relativism

Answer 7

Claims that morality is context-dependent and subjective (everyone has other principles and systems about what they believe is morally correct)

Question 8

Objections of ethical relativism (2)

Answer 8

1. What about the progress already made? Some things used to be ethically ok until we realized they were wrong (e.g. slavery)
2. Criticizing other people for their moral beliefs would be like criticizing them for their tastes. That would get us nowhere.

Question 9

Consequentialist

Answer 9

Moral rightness of an action is determined by the outcome of the action.

Question 10

Egoism

Answer 10

an action is morally right if, and only if, it best promotes the individuals best interest.

Question 11

Objections to Egoism (3)

Answer 11

1. Egoists believe that human beings are only motivated by self-interest.
2. Egoists believe that our moral norms are due to the expression of self-interest
3. Egoism could work but only if there was some sort of system that prevented people from pursuing their own interests at the expense of others.

Question 12

Utilitarianism (Act)

Answer 12

Whichever consequence brings the most net happiness or pleasure, should be the action taken.

Question 13

Utilitarianism (Rule)

Answer 13

Draws up general rules based on the principle of utility
Rules are right if they end up producing the greatest amount of happiness for the greatest number of people.

Question 14

Objections to Utilitarianism (3)

Answer 14

● Not concerned how the amount of happiness is distributed
● Some extremely heinous actions can be seen as right
● Is maximizing pleasure/happiness all that matters?

Question 15

The greatest happiness principle (Principle of Utility)

Answer 15

• An action is morally right if it results in the greatest amount of good for the greatest number of people (affected).
• This principle from utilitarians is the idea which allows us to figure out what is the right thing to do

Question 16

3 ingredients of Utilitarianism

Answer 16

Whichever consequence brings the most net happiness or pleasure, this should be the action taken
1. Consequences
a. Every action is for the sake of some end
b. Therefore only the consequence matters
2. Happiness/Utility
a. The ultimate goal for humans is happiness
b. Most happiness and least pain as possible
3. Equality
a. We must view individuals affected as the same
b. Everybody counts as one

Question 17

Kant’s Ethics of Duty/Deontology

Answer 17

Moral Reasoning is not based on factual knowledge and the results of our actions do not determine whether they are right or wrong.
Nothing is good in itself except for goodwill, which simply focuses on the reasoning behind the action, not the consequence of it.

Question 18

The Hypothetical Imperative

Answer 18

• Commands that you should follow if you want something.
  This commands a certain act as a means to an end

Question 19

The Categorical Imperative (2 factors)

Answer 19

Instead of the hypothetical imperative, categorical imperatives are commands you must follow, regardless of your desires.
These are moral obligations are derived from just intellect/reasoning.
Universalizability
Humanity

Question 20

Universalizability

Answer 20

An action is right if, and only if, its underlying principle is universally acceptable (all rational parties involved would agree to do this or have it done to them).
What is not universalizability:
- Random Violence

Question 21

Humanity

Answer 21

One must always act so as to treat other people as ends in themselves, not a means to an end.
Humans are ends in themselves, they should not be used as a way to benefit yourself.
Treat everybody how you want to be treated.

Question 22

Objections to Kant’s Ethics (3)

Answer 22

1. When is a person treated as an ends or merely a means?
   
   • Can be difficult to decipher
2. Policies are too extreme
   
   • For example, lying is always wrong (this should not be treated as black or white).
3. Focuses on duty only
   
   • This ignores other feelings humans have, such as empathy.