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Flashcards in Business ethics Deck (38)
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1

Define 'capitalism'

An economic system based on private ownership of how things are made and sold, in which businesses compete freely to make profits

2

Define 'shareholder'

A person who has invested money in a business in return for a share of the profits

3

Define 'corporate social responsibility'

A sense that businesses have wider responsibility than to their shareholders including their communities and their enviornment

4

Define 'whistle-blowing'

When an employee discloses wrongdoing to the employer or public

5

Define 'globalisation'

The international integration of economies, industries, markets, cultures and policies

6

Define 'stakeholder'

A person who is affected by or involved n some form of relationship with a business

7

Define 'consumerism'

A set of social beliefs that put a high value on acquiring material things

8

Is corporate social responsibility an example of socialism or capitalism?

Socialism

9

What is Kant's view on how people should be treated within a business, (workers and customers)?

- Treat people as an end in itself not a means to an end
- Companies that control and monitor employees seem to be without respect for human dignity
- Companies that don't ensure safe working conditions are treating their workers as a means
- You cannot mislead customers with false information

10

What is the general view of utilitarianism in business ethics?

- If the greatest good is to get the greatest profit then maximise income at all costs
- Don't just act in the interest of the shareholder but also the stakeholders, workers, the environment, the community and the national economy

11

Explain Kant's shopkeepers example

1) Honest because they're scared of being caught to give short change
2) Honest because it's their duty
Only the second shopkeeper is being moral

12

Give a disadvantage of Kant's views

Abstract - tells us what is right and wrong but not how to act

13

Give a disadvantage of Utilitarianism

No regard for human value

14

Milton Friedman

Textbook

15

Give a quote from Adam Smith

"It is not from the omnibenevolence of the butcher... we expect our dinner but from their regard to their own self-interest"

16

Adam Smith is the founder of (1)

Capitalism

17

Karl Marx - Gov intervention is essential to avoid what?

Exploitation of workers

18

What is the Protestant work ethic?

Hard work, frugality and discipline are an aspect of a person's salvation, capitalism incentivises human behaviour for the result of self-interest

19

What are two disadvantages of the Protestant work ethic?

- Encourages greed and moral corruption
- Capitalism encourages consumerism at the expense of human relationships

20

How are whistleblowers treated by law in the UK?

Protected as witnesses and so don't need to provide evidence

21

What are two advantages of whistleblowing?

- Improves work safety
- Encourages businesses to accept social corporate responsibility

22

What are Kant's views of whistleblowing?

Accepted as long as people are not treated as an end and so duty beyond employment encourages people to take personal risk

23

What is the Utilitarian view on whistleblowing?

Depends on the severity caused by the wrongdoing, it is justifiable for companies to break rules to succeed whereas rule utilitarians believe that the greatest good comes from following rules

24

What are imperatives? (Kant)
What are Kant's two types?

Instructions telling people what to do
Categorical and hypothetical

25

What are hypothetical imperatives?

Instructions on what to do to achieve a goal

26

What are categorical imperatives?

What to do irrespective of desire (moral behaviour)

27

Give some effects of globalisation

- Increased TNCs
- Increased competition in manufacturing industries
- Lower wages abroad causes loss of jobs in MEDCs
- Cultural erosion

28

A Utilitarian may be in favour of globalisation due to (1) as a result of global trade but the (2) divide is increasing and the utilitarian does not have specific notions of (3) and so may see globalisation as greater good despite individual suffering

1 - millions lifted out of poverty
2 - rich-poor
3 - individual human rights

29

A Kantian may be concerned that globalisation will increase (1) in LEDCs where TNCs have greater power than the government. This may be seen as (2) causing (3) loss. Everyone should have the same freedom with (4) and a sufficient (5) to support independent living

1 - exploitation of workers
2 - neo-colonialism
3 - national identity
4 - government control
5 - salary

30

What environmental issues have been caused by globalisation?

LEDCs have greater priorities than the environment and so standards decrease including building safety regulations