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B&S Midterm
Chapters 1, 2, 3, 4 (Part 1) and 13
| Question | Answer |
|---|---|
| What could VUCA stand for? | Volitile, uncertian, complex and ambiguous |
| Complicated vs. Complex Problems | Complicated is easier to solve/predictable while complex is more vexing, annoying and has no one correct solution |
| Economics vs. Ecosynomics | Economics is the study of scarce resources while Ecosynomics is the study of abundance/science of abundance |
| What makes a good company? | Good organization, Good management and Good citizenship |
| Social Contract | the business-society relationship has a mutual expectation of behavior between 2 institutions |
| Social License | Privledge of operating in society with little restrictions based on keeping trust by doing acceptable things in the relationship |
| Macro Level | broader level large system that influences social dynamics through the environment and the government |
| Mezzo Level | specific dynamics in organizations, communities, political parties, etc |
| Micro Level | 1-on-1 Interactions between others |
| Levels of Ethical Assessment | Awareness of ethical implications, ethical implications on people and standards, implications assessed upon use of ethical principles and decisions based on systemic analysis of outcomes |
| 3 Components of Ethics | Theory of Values, Theory of Obligations and Theory of self-conscious thoughts |
| Ethical Theories | Agent-Focused (individuals), Goal-focused (Consequentialism) and Deontological (Golden Rule) |
| The ethical decision making process | recognize the moral issue, make judgements, generate moral intent, engage in moral behavior |
| - vs + human rights | negative rights do not interfere with moral rights while positive rights provide a moral right |
| Agent-Focused Components | Personal Virtue Ethic, Ethical Egoism, Enlightened Self-Interest and Ethics of Caring |
| Goal-Focused Components | Utilitarism, Rule Utilitarism, and Act Utilitarism |
| Deontological Components | Deontology, Moral Rights, Universal Rules, Ethics of Justice and Ethics of Holism |
| Deontology vs. Utilitarism | Deonntolgy looks at the rightness or wrongness of the action is based on the truistic parts of that action while for Utilitarism, its based on the consequences of that action |
| What allows for ethics of justice to exist? | Must be compensatory, distributive, procedural and retributive |
| The Worldviews | Ecocentric, Biocentric, Anthropocentric and Egocentric |
| Stages in Moral Development | Follows Step 2, where it starts at preconventional, then conventional and lastly, post-conventional |
| What are some challenges to ethics? | its subject to bias, where there could be implicit justice, favoritism, over-claiming credit and conflict of interest |
| Ethical implications of right to private property | unequal distribution of wealth and bleeding into intellectual property issues |
| Ethical implications of economic freedom/individualism | has a communal view but, places like homeless shelters and food banks are struggling due to poverty, lack of employees, etc but, if they have agency, it leads to selfishness or egotism |
| Ethical Implications of equality of opportunity | challenging in a capital system, where gender equality is required |
| Steps to Move Forward in Equality of Opportunity | Unequal to Uninformed to sensitive to specific to transformative |
| Ethical Implications of Competition | Oligopolys occur, governments regulate or influence prices, growth of collaborations, etc. |
| Ethical Implications of profits | has negative consequences, viewed as immoral and profit cannot be used as a regulator |
| Ethical Implications of the Work Ethic | government programs mess with unemployment rates and people expect more from their employers |
| Ethical Implications of consumer soveriegnty | Consumers have trouble with self-regulation and the government regulates with the public interest in mind |
| Why should businesses have third party certification? | to follow competitors and repsond to pressure by NGOs |
| Ethical Implications of the Role of Government | its an active participant and a stakeholder/monitor |
| Challenges in Ethics of Capitalism | People are greedy, large corporations have different business failures compared to smaller firms, wealth and income inequalities, discrimination, corporate crime issues and the rise of interest in social justice |
| How can Capitalism be ethical? | allows people to set their own objectives, busniesses must respond to demand and pressure and most people are ethical (have integrity) |
| Primary vs. Secondary Stakeholders | Primary are people who are in the supply chain like shareholders and employees while secondary are more on the outside but have an influence like communities and government |
| Internal vs. External Stakeholders | Internal conceptualizes power in organizations while External contains the public, employee assossiations, etc. |
| Normative vs. Derivative Stakeholders | Normative has a firm that owes/gains benefits from that is an obligation while Derivative has a firm not accept benefits directly but, they hold power in an organization |
| Market vs. Standard Environmentalism | Market believes that economic incentives are more powerful than the rules by government while standard believes government regulation is needed during market failures following environmental activities |
| Stages of a Business in the Environment | Reactive, Compliance, Comprehensive and Commitment |
| Cap and Trade | governments sets emission caps and gives tradable permits to companies |
| Indicators of measuring environmental preformance | Type and # of materials used, source of energy used, impact on biodiversity and emissions, etc. |
Created by:
evehec
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