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Bule 303 Chapter 2 Questions and Correct Verified Answers Latest Version
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Ethics The study of what constitutes right or wrong behavior; moral principals and values applied to social behavior. Business Ethics What constituters right or wrong behavior and the application of moral principals in the business context. Triple bottom line Focuses on a corporation's ...

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  • October 14, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • bule 303 chapter 2 questions and correct verified
  • ethics the study of what constitutes right or wr

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1 | P a g e | © copyright 2024/2025 | Grade A+




Bule 303 Chapter 2 Questions and
Correct Verified Answers Latest
Version
Ethics


✓ The study of what constitutes right or wrong behavior; moral principals

and values applied to social behavior.




Business Ethics


✓ What constituters right or wrong behavior and the application of moral

principals in the business context.




Triple bottom line


✓ Focuses on a corporation's profits, its impact on people, and its impact

on the planet.




What four things should should a business evaluate when making a decision?




Master01 | September, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+

✓ 1. the legal implications of each decision

✓ 2. the public relations impact

✓ 3. the safety risks for consumers and employees

✓ 4. the financial implications




Short-run profit maximization v. long-run profit maximization


✓ In the short-run, a company may increase its profits by continuing to sell

a product, even though it knows that the product is defective. In the

long-run, because of lawsuits, large settlements, and bad publicity, this

unethical conduct would cause the profits to suffer. AKA BUSINESS

ETHICS IS ONLY CONSISTENT WITH LONG-RUN.




Short-run profit maximization example


✓ Purdue Pharma downplaying the addictive tendencies of oxycotin

when it was first put on the market




the internet in relation to public relations




Master01 | September, 2024/2025 | Latest update

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