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BUS 356 Exam 1
| Question | Answer |
|---|---|
| You can't arrive at an _____ (ethical claim) strictly by appealing to the _____ (empirical or descriptive claim). | Ought, is |
| Ethics and law are both _____, but very _____ | Important, different |
| An ethical theory involving equality, impartiality, and maximization of social utility | Utilitarianism |
| An approach to ethics that isn't concerned with the consequences of our actions or possessing virtue, but instead is concerned with the duties that we have toward others | Deontology |
| An ethical theory that posits that possessing virtue is necessary to the flourishing, good life | Aristotelian virtue ethics |
| Utilitarianism focuses on the ______ of our actions and how they ______ social good or utility | Consequences, maximize |
| For Aristotle, all people have a specific _____ (purpose) that involves using reason, which helps us _____ as a person | Telos, flourish |
| Virtue is a _____ middle-ground between excess and deficiency | Moderate |
| What is considered a virtue can change with _____ and _____ | Time, culture |
| For Kant's deontological ethics, we have certain _____ _____ toward others and ourselves that derive from our ______ | Absolute duties, personhood |
| For Kant, people should be treated as _____ in themselves, and never merely as a _____ | Ends, means |
| A type of protection you have against another (like a moral force field protecting you from the actions of others) | Right |
| Basic thesis of Friedman's work: any company that is primarily owned by _____ should be exclusively concerned with increasing _____ _____ in any legally viable fashion | Shareholders, shareholder value |
| A business or any other group cannot be properly said to have ______ for Friedman, only people within the group can have them | Responsibilities |
| If we want to address social challenges such as long-term unemployment, economic inequality, and environmental degradation then this, for Friedman, should be done by _____ _____, not by making _____ do the work of _____. | Political action, corporations, government |
| Basic thesis of Freeman's work: the notion of managerial capitalism should replace the idea that managers have a duty to _____ with the idea that managers have a fiduciary relationship to _____. | Shareholders, stakeholders |
| Managers, for Freeman, should invoke a method of ______ the ______ of various stakeholders, when a lack of balance occurs here the existence of the firm is placed in jeopardy. | Balancing, interests |
| Partridge's Thesis: a basic breakdown in _____ between _____ and the _____ they serve has emerged in many different industries, but there is hope that this trend can change | Trust, businesses, consumers |
| Nearly all new businesses must start in this era because they are an ‘unknown commodity’ and they can only become established and be successful if others trust them. During this era a business has a clear mission and sticks with it | The honesty era |
| In this era, now the business is established and doing well. Enter here the temptation to pursue short-term profits, often put in terms of efficiency, at the expense of mission | The efficiency era |
| In this era, now that the focus of the firm has become ever increasing profits as quickly as possible it drifts further away from its original mission | The deceptive era |
| In this era, the firm’s deception is eventually found out and others no longer trust them to deliver on the promise of their mission. Once this happens the firm has no choice but to apologize and plea with stakeholders to stick with them | The apologetic era |
| Fink's thesis: The world faces many ______ and governments generally are not doing an adequate job of addressing these ______. Business can play a substantial role in addressing these ______ | Challenges |
| Asare's Thesis: boycotts are not _____ and have historically been used to exert _____ power and encourage _____. The article examines the utility of boycotts and whether they actually drive social change. | New, collective, change |
| Economic boycotts have the potential to _____ others who are not the intended _____, like when company's lay off employees due to lost profits | Harm, targets |
| The _____ of a business is to make profit, but the _____ could be to solve any problem in the world | Function, purpose |
Created by:
Liechtensteiner