week 5 moral phiolosphies

Question 1

define morality

Answer 1

The specific principles or values people use to decide right from wrong

Person-specific

Guidelines for determining how to settle conflicts and optimize mutual benefit

Provide direction in formulating strategies and resolving ethical issues
No single moral philosophy is accepted by everyone

Question 2

explain economic systemsq

Answer 2

Adam Smith
The father of free market capitalism
Developed the idea of the invisible hand
Milton Friedman
Markets reward or punish for unethical conduct without the need for government regulation
Currently the dominant form of capitalism
The U.S. is exporting the idea of free market capitalism to other countries
Free markets may not solve all problems

Question 3

explain value orientation

Answer 3

Economic value orientation: Values that can be quantified by monetary means
If an act produces value, accept it as ethical

Idealism: Places special value on ideas and ideals as products of the mind
Positive correlation to ethical decision-making

Realism: The view that an external world exists independent of our perceptions
Everyone is guided by self-interest
Negative correlation to ethical decision-making

Question 4

explain economic value orientation

Answer 4

Economic value orientation: Values that can be quantified by monetary means
If an act produces value, accept it as ethical

Question 5

explain idealism (value orientation)

Answer 5

dealism: Places special value on ideas and ideals as products of the mind
Positive correlation to ethical decision-making

Question 6

Explain Realism (value orientation)

Answer 6

Realism: The view that an external world exists independent of our perceptions
Everyone is guided by self-interest
Negative correlation to ethical decision-making

Question 7

explain difference between monists hednoitsts and pluralists

Answer 7

Monists: only one thing is intrinsically good
Hedonists: personal pleasure is the ultimate good
Pluralists: no one thing is intrinsically good

Question 8

explain obligation theories

Answer 8

focus on means and motives

Deontology

Question 9

explain goodness theories

Answer 9

focus on end results of actions

Teleology, utilitarianism

Question 10

explain teleogy (consequentialism)

Answer 10

Considers an act as morally right or acceptable if it produces the desired result or consequence such as pleasure, knowledge, career growth, the realization of a self interest, or utility

Assesses moral worth by looking at 
the consequences for the individual
Examples
Egoism
Utilitarianism

Question 11

categories of telology

Answer 11

Egoism
Right or acceptable behavior defined in terms of consequences to the individual
Maximizes personal interests

Enlightened egoists
Have a long-term perspective
Do consider well being of others
Self-interest still deciding factor

Utilitarianism
Greatest good for greatest number of people 
Concerned with consequences
Considers a cost/benefit analysis
Behavior based on principles of rules that promote the greatest utility rather than on an examination of each situation
Rule utilitarians
Behaviour based on principles or rules
Act utilitarians
Behaviour based on actions

Question 12

explain dentology

Answer 12

Also known as non-consequentialism or universalism
Focuses on the rights of the individual, not consequences (considers intentions)
Believes in equal respect and views certain behaviors as inherently right
Proposes that individuals have certain inherent freedoms
Freedoms: conscience, consent, privacy, speech and due process
Rule deontologists
Conformity to general moral principles
Act deontologists
Evaluate ethicalness based on the act

Question 13

explain relativist perspective

Answer 13

Defines ethical behavior subjectively from the experiences of individuals and groups
Relativists use themselves or those around them as their basis for defining ethical standards
A positive group consensus indicates that an action is considered ethical by the group
Acknowledges that we live in a society in which people have different views
Different forms are: Descriptive; Metaethical; and Normative relativism

Question 14

what is virtue ethics

Answer 14

What is moral in a given situation is not only what conventional wisdom suggests, but also what a “moral” character would deem appropriate.
Elements include truthfulness, trust, self control, empathy, and fairness.
Attributes in contrast to virtue include lying, cheating, fraud, and corruption.
Virtues that support business transactions (see table 6.2)

Question 15

explain justice

Answer 15

Fair treatment and due reward in accordance with ethical or legal standards

Distributive justice: An evaluation of the results of a business relationship

Procedural justice: Considers the processes and activities that produce desired outcomes

Interactional justice: Based on relationships between organizational members, including employees and managers

Question 16

Moral philosophies must be assessed on a continuum

Answer 16

Moral philosophies used to make personal and work-related decisions vary
(Arrow to)

Differences exist in professional and private goals and pressures

An individual’s moral philosophy may change to become compatible with the work environment

Question 17

Importance and ProblemsKohlberg’s Theory

Answer 17

Shows that individuals can change their values through moral development
Supports management’s development of employee’s moral principles
However, the three hit theory says
Kohlberg used questionable research methods
His theory contradicts basic moral philosophy
His theory, while reliable, may not be valid