Exam (elaborations)
BUS 404 Anderson Exam 1/Q’s and A’s
- Course
- Institution
BUS 404 Anderson Exam 1/Q’s and A’s
[Show more]
Content preview
BUS 404 Anderson Exam 1/Q’s andA’s
Ethics - -study of what is right or good for human beings
-Business Ethics - -study of what is right and good in a business setting
-Ethical Fundamentalism - -individuals look to a central authority or set of
rules to guide them in ethical decision making (could be religious, political, or
other basis: e.g. Karl Marx, Bible, Koran, Torah)
-Ethical Relativism - -asserts that actions must be judged by what
individuals subjectively feel is right or wrong in the circumstances
(everybody individually decides for herself/himself)
-Situational Ethics - -one must judge a person's actions by first putting
oneself in the actor's situation (e.g. "I had to lie to my mother and take $100
from her wallet, because of the unique circumstances of I needed to a
birthday gift for my close friend.")
-Utilitariansim - -moral actions are those that produce the greatest net
pleasure compared with net pain (e.g. net societal benefit v. net loss)
-Act Ultilitarianism - -assesses each separate act according to whether it
maximizes pleasure over pain (does this specific act generate more pleasure
than pain?)
-Rule Utilitarianism - -supports rules that on balance produce the greatest
pleasure for society (establish general rules where sometimes benefit does
not outweigh cost)
-Cost-Benefit Analysis - -quantifies the benefits and costs of alternatives
-Deontology - -holds that actions must be judged by their motives and
means as well as their results (with a goal of just results)
-Kant's Categorical Imperative - -for an action to be moral, it must:
potentially be a universal law that can be applied consistently, and respect
autonomy and rationality of all human beings and only act as you expect
others to in same situation
-Kant Universal - -"if I allow you to do this, then I must allow everybody to
do so"
, -Kant Motives - -the ends does NOT justify the means; motive matters
-Kant Practical - -"I meant and intended to do something good/helpful, but a
bad result occurred"
-Social Ethics Theories - -focus on a person's obligations to other members
in society and on the individual's rights and obligations within society
-Social Egalitarians - -believe that society should provide all its members
with equal amounts of goods and services regardless of their relative
contributions ("let's give everybody a welder, stethoscope, and ceramic
kiln")
-Distributive Justice - -stresses equality of opportunity rather than results.
some will do better than others, but a fair share to all provides such an
opportunity ($100 tuition for everybody does NOT guarantee that everybody
graduates)
-Libertarians - -stress market outcomes as the basis for distributing
society's rewards
-Progressive Taxation Discussion - -Federal and State income tax rates
increase based upon income. Low income persons pay nothing. High income
individuals can use legal tax shelters to avoid taxation.
-Intuitionism - -a rational person possesses inherent power to assess the
correctness of actions
-Good Person - -individuals should seek out and emulate good role models
-Choosing an Ethical System - -Kohlberg's stages of moral development is a
widely accepted model
-Corporations as Moral Agents - -because a corporation is a statutorily
created entity, it is not clear whether it should be held morally responsible
-Regulation of Business - -governmental regulation has been necessary
because all the conditions for perfect competition have not been satisfied
and free competition cannot by itself achieve other societal objectives
-Corporate Governance - -vast amounts of wealth and power have become
concentrated in a small number of corporations, which in turn are controlled
by a small group of corporate officers
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now