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GMS802
Chapter 1
| Question | Answer |
|---|---|
| Why is Ethics an Uncomfortable Topic for Managers? | Ethics is viewed as a highly technical discipline. Many see ethics as involving blame and fault. Ethics is seen as an idealistic endeavour while management is often considered to be all about hard numbers and practical results. |
| What is Ethics? | Our effort to figure out: What we should do and how we should live. How to justify our behaviour. |
| Why Study Ethics? | To clarify your values so you can make decisions that align with them. To respect yourself as a person of good character. |
| Three Traditions In Ethics? | Deontology, Character (Virtue) Ethics, Consequentialism (Utilitarianism) |
| Denotology | Looks at the actions or "means" people use to achieve their goals |
| Character (Virtue) Ethics | Looks at the agents or "persons" who are acting in the situation |
| Consequentialism (utilitarianism) | Looks at the ends of "goals" that are outcomes of actions |
| Actions (Deontology) | deon- duty or obligation. Evaluates actions based on standards of right and wrong. Standard of human decency, worth, and respect rule out treating others in certain ways. (Lying to them, physically harming them) |
| Agents (Character/Virtue Ethics) | Focuses on the person. A person of good character demonstrates vrirtues i.e fairness, trustworthiness, courage |
| Ends (Consequentialism) | Focuses on the end result produced by an action. An action which creates more good than bad in terms of achieving our goal is considered good. |
| Utilitarianism | Seeks to create the most favourable balance of benefit over harm |
| Standards of Conduct 5 core Principles | Beneficence, Nonmaleficence, Autonomy, Justice, Responsibilty |
| Beneficence | People should provide help to others |
| Nonmaleficence | People should avoid causing harm to others |
| Autonomy | People should be free to make their own choices |
| Justice | People ought to give others what they are due and operate with fairness |
| Responsibility | People have certain expectations of themselves, which they expect in return from others |
| Rationalization | The process of convincing yourself that a decision is fair and defensible, when, in fact, it merely serves your own interests or offers an easy way out. |
| Publicity Test | Could you defend your choice if it were made public? |
| Reversibility Test | Put yourself in the position of the person who would suffer the primary negative consequences of a decision. |
| Generalizability Test | Would your decision be acceptable for others in a similar situation? |
| You are accountable to stakeholders | you must be able to defend your decisions to stakeholders who have the power to influence the fate of your firm. |
| Ethics talk is helpful | defending your decision in ethical terms is particularly important when dealing with stakeholder groups outside the firm. |
| Ethical decisions are part of the job | you are responsible to resolve ethical dilemmas in business and in your personal life |
| Personal integrity is important | Pay attention to decisions that make you feel very uncomfortable or violate your sense of integrity |
Created by:
rafi.sultani
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