Exam (elaborations)

BUSMHR 2292 Questions and Correct Answers the Latest Update and Recommended Version

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BUSMHR 2292

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BUSMHR 2292

Paine's Basic Ethics Framework, what was his framework article about? → -Markets are amoral, but market participants frequently must make ethical judgements (Trust) → → -Repeats links between ethics and performance → → -Despite those links, Paine argues we haven't done a good job o...

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busmhr 2292 questions and correct answers the lat
paines basic ethics framework what was his frame

Institution BUSMHR 2292
Course BUSMHR 2292

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BUSMHR 2292 Questions and Correct
Answers the Latest Update and
Recommended Version
Paine's Basic Ethics Framework, what was his framework article about?

→ -Markets are amoral, but market participants frequently must make ethical judgements
(Trust)
→
→ -Repeats links between ethics and performance
→
→ -Despite those links, Paine argues we haven't done a good job of integrating ethics
strategies into management decision making strategies
→
→ -Paine suggests a framework for doing so:
→
→ -Difficulty is that we often use emotion, rather than reason, to resolve ethical issues.
→
→ -Ordinarily, IF we use reason, often it is to attempt to justify our action AFTER THE
FACT
→
→ -There CAN be MORE THAN ONE ethical answer
→
→ This is a Stakeholder Analysis:
→ -Figuring anyone who can affect or anyone who is affected by a decision and how
they're affected

Albert Einstein Quote

→ "The intuitive mind is a sacred gift and the rational mind is a faithful servant."

Paine's 4 Questions for us to consider what Ethical Standard may apply

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,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!

→ 1. Is the action consistent with the actor's basic DUTIES?
→
→ 2. Does it respect the RIGHTS and other legitimate claims of the affected parties?
→
→ 3. Does it reflect BEST PRACTICE
→
→ 4. Is it compatible with the actor's own deeply held COMMITMENTS ("core values")?

Duty

→ Requirement to act or not to act towards others
→
→ Basic moral duties in law or codes

Right

→ Requirement in others to behave in a certain fashion toward you - also often in law or
codes
→
→ Converse of duty (Ex: West Point Three Rules of Thumb)

West Point - Three Rules of Thumb

→ 1. does action attempt to deceive or allow deceit?
→
→ 2. does action gain or allow gain of privilege or advantage to which i or someone else
would not otherwise be entitled
→
→ 3. would i be dissatisfied by the outcome if i were on the receiving end of action?

What are Best Practices

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, 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!

→ Principles or Standards of excellence (ethics codes, voluntary standards)
→
→ Ideals, values, aspirations

Commitments

→ Self-chosen or subjective moral convictions (principles, core values, standards of
integrity)
→
→ "You can make money without doing evil" - One of Google's "What we believe"
statements

ELI lens info from other quizlet

→ add it

Two Approaches to 'Justice'

→ 1. Distributive Justice
→
→ 2. Procedural Justice

Distributive Justice

→ Concerns the nature of a society just allocation of goods in a society

Procedural Justice

→ The idea of fairness in the processes that resolves disputes and allocates resources
→
→ concerns the fairness and the transparency of the processes by which decisions are
made

4 Steps suggested in Paine's Framework

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