review chapter 2 making ethical decisions and mana
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Making Ethical Decisions
Making Ethical Decisions
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Review Chapter 2 Making Ethical
Decisions and Managing a Socially
Responsible Business
Corporate Social Responsibility - answer Concern of businesses for the welfare of
society as a whole. Is voluntary. Obligations are broad. Extend beyond investors in the
company to include workers, suppliers, consumers, communities, and society at large.
Legal Rights - answer Certain rights guaranteed by the government and its laws. U.S.
Constitution and its amendments define the rights of American citizens. Examples,
freedom of religion, speech, and assembly; protection from improper arrest and
searches, and proper access to counsel.
Deontology - answer Philosophy that people should meet their obligations and duties
when analyzing an ethical dilemma. This person will follow his/her obligations because it
is considered ethically correct.
Advantage - Produces consistent decisions because they will be based on the person's
set duties.
Utilitarianism - answerInfluences choices between right and wrong. Focuses on the
consequences of an action taken by a person or organization.
Negative issues
- impossible to accurately determine how a decision will affect a large number of people.
- involves both winners and losers. Example, manager fires 5 people rather than putting
everyone on a 30-hour workweek.
Human Rights - answerRights to life, freedom, happiness. Denying these rights is
unethical in most parts of the world.
Justice - answerWhat is fair according to prevailing standards of society.
Varies from society to society.
An equitable distribution of the burdens and rewards that society has to offer.
Ethical Issue - answerSomeone must choose between a set of actions that may be
ethical or unethical.
Personal Code of Ethics - answerPeople choose between right and wrong.
Ethics Training Programs - answerTo develop an awareness of questionable business
activities and practice appropriate responses. 80 percent of U.S. companies provide
some sort of ethics training for employees.
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