Exam 8: Ethics and Social Responsibility of Business

Which of the following is the difference between maximize profits theory and moral minimum theory?

Charlotte works as a teacher in Africa.Every Sunday,she visits nearby villages and convinces families to send their children to school.She arranges accommodation for these children and helps them with their education.In a recent interview,Charlotte mentioned that she looks up to Mother Teresa not only for inspiration but also to resolve ethical dilemmas.Charlotte's approach to ethics is characteristic of ________.

According to the moral minimum theory,a business that corrects the social injury it causes has met its duty of social responsibility.

ULab,Inc.,a biotechnology firm,recently had a fire in one of their offices which resulted in the office building being gutted.The employees were not trained for a fire drill,and the 10-storey building had no fire escape route which resulted in many employees being hospitalized for physical injuries,burns,and toxic smoke inhalation.What important social responsibility theory was ULab negligent of by not training their employees in case of a fire and not installing a fire exit?

Differentiate between Kantian ethics and Rawls' social justice theory.

Which of the following is characteristic of ethical fundamentalism?

According to Kantian ethics,a person is under no moral obligation to abide by a contract if it turns out to be detrimental to the obligated party.

Analyze the business environment that led to the enactment of the Sarbanes-Oxley Act.

The corporate citizenship theory contends that corporations owe a duty to promote the same social goals as individual members of society.

________ is a moral theory which holds that individuals must decide what is ethical based on their own feelings about what is right and wrong.

Ethical relativism theory holds that individuals must follow an outside source for ethical rules or commands.

________ is a moral theory with origins in the works of Jeremy Bentham and John Stuart.

Portman,who runs a computer hardware store,had signed a contract with Stewie,Inc.to deliver 125 computer monitors.He was to deliver it by the 5th of August,but by the 3rd of August,Portman could not arrange for the monitors,as his usual supplier was not available.Portman then decided to go to another supplier who had a higher selling price rather than cancel the contract with Stewie,Inc.as he believed it was his duty to do so.What of the following moral theories matches Portman's behavior?

Why is maximize profits theory not acceptable in today's business world?

________ is a set of moral principles or values that governs the conduct of an individual or a group.

Explain why few philosophers advocate ethical relativism as an acceptable moral theory.

Under the theory of ________,if a business corrects the social injury it causes,it has met its duty of social responsibility.

Discuss the criticism of Kantian ethics with an example.

Which of the following moral theories matches the dictum "I will keep the rules if everyone else does"?

Kant's philosophy and ethics is based on the premise that people should avoid reasoning when arriving at ethical decisions.