Business Ethics and Leadership Exam Questions With 100% Verified Answers
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Business Ethics And Leadership
Business Ethics and Leadership Exam
Questions With 100% Verified Answers
Descriptive - answerSpelling out the ethical theories
people actually hold
Philosophical - answerEvaluating the justifications for different ethical theories; finding the
best views
Moral Realism - answerThe theories wil...
Business Ethics and Leadership Exam
Questions With 100% Verified Answers
Descriptive - answer✔Spelling out the ethical theories
people actually hold
Philosophical - answer✔Evaluating the justifications for different ethical theories; finding the
best views
Moral Realism - answer✔The theories will are examining are moral realist theories which
supposed that:
Moral value and principles are objective (mind- independent/real)
Moral values or principles are universally valid (apply to everyone)
• What about moral anti-realism? Comes in several varieties:
Moral Relativism - moral facts are relative to culture Moral Subjectivism - moral facts are
relative to individuals Moral Skepticism - moral facts cannot be known Moral Nihilism - moral
facts are not real
Moral Psychology - answer✔Moral psychologists have identified the way we actually make
moral judgments and decisions
This is a descriptive endeavor
Toby Groves' Story - answer✔Guy who said he's never commit fraud then did
Promise to his father
• Successful mortgage loan company, good reputation
• Company falls $250,000 into debt
• Fraudulent loan #1: falsified income on mortgage loan application Not enough; company in
deeper debt
• More fraud: "air loans" on nonexistent properties Help from his own employees and employees
at title companies
• Busted by FBI; pretty much immediate confession • ~100 jobs, ~$7 million lost
Homo Economicus - answer✔Humans are fundamentally and consistently rational.
We know what we want.We consistently take the means to get
what we want.
•Irrationality is a rare departure from the norm.
System 1 vs. System 2 - answer✔System 1Automatic, quick, often subconscious Tunnel vision,
acting on a script/schema
• System 2Slow, requires effort & concentration Thinking things through
Heuristics - answer✔simple efficient rules used to form judgments and make decisions
Quick, relatively automatic Often subconscious
Biases - answer✔when heuristics lead us astray
Hurricane Charley - answer✔What happened in Florida after hurricane Charley?
Terrible damage, huge power losses Major price increases for water, food, ice,
generators, hotels, roof repair, etc.
Claims of price-gouging
Anti-price-gouging laws used to impose penalties
Uber Surge Pricing - answer✔When there's lots of demand, Uber jacks up the price Supposed to
incentivize more drivers to be on the road
(help supply meet demand) Designed to keep waiting times down
• New Year's Eve, Early New Year's DayPrices 4-10 the usual rateLots of would-be riders pay
way more than intended Others are "priced out"
The Big 3 Moral Considerations - answer✔1. Welfare—promoting well-being
for everyone
2. Freedom—respecting autonomy, holding people responsible
3. Virtue—promoting good character
Challenges to Ethics - answer✔Nihilism: there are no true moral principles
Moral skepticism: we can't know the true moral principles
Relativism, subjectivism: moral principles hold true only relative to particular cultures or
individuals
Early Ethics: Virtue - answer✔Ethics in Ancient Greece, China (2000+ years ago)
•Focus on good character, not merely right actions
"How to be?" rather than "what to do?"
What is virtue? - answer✔What makes a person good, virtuous? Developing their nature
wellVirtue = moral excellenceVice = moral deficiency
About habits
• Analogy: a good person & a good knifeHave to know a knife's purpose to know if it is good
Why? Fulfillment of purpose = good
Utilitarianism - answer✔Do what promotes the best consequences
"Greatest good for the greatest number"
Depends on the facts on the ground—what really does promote the most good for the most
people
• What are the best consequences? What is good? Pleasure (Bentham)Pleasures (Mill)Desire
satisfaction (contemporary - Hare, Singer)
Deontology (Kant) - answer✔Motivation is what matters—not consequences •What's the right
motive/intention?
Acting according to the right general principle (maxim)
• What's the right maxim?One that is consistent & universalizableOne that protects freedom,
respects autonomy
Kant's Categorical Imperative - answer✔"[A]ct only in accordance with that maxim through
which you can at the same time will that it become a universal law." (Groundwork, 4:421)
Maxims must be rational if everyone were to adopt them
You don't get to make an exception of yourself
Example: thou shalt not lie
Connections to the Big 3 - answer✔1. Welfare: We should act to promote
well-being
Utilitarianism
2. Freedom: We should promote and protect freedom
Kant's Deontology
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