ETHS 8020 Cheat Sheet Chapter #1 Law and Ethics govern two different realms Law embodies the ethics of business Law is inappropriate for regulating certain business activities Law is slow to develop Law employs moral concepts that are not precisely defined Law is unsettled on whether a course of action is legal The exclusive reliance on law alone and failure to act responsibly can result in legislation and litigation Chapter#2 Fiduciary is when someone acts in discretion of another’s assets Candor – Information must be transparent Care – Must be prudent, make sure decisions are suitable for beneficiary Loyalty – Must act in best interest of beneficiary and avoid taking personal advantage of relationship Principles for Ethical Reasoning Welfare – greater good of society Duty – Obligation to act morally Rights – Entitlement Fairness – Equal treatment Dignity – Respect Honesty – Truth Integrity – Personal Character built over time Chapter#3 Teleological Ethics – Has an end Consequences are primary Utilitarianism – 4 Principles - Hedonism – Must have some pain - Maximalism – More pain than pleasure - Consequentialism – Look at the consequences - Universalism – Looking at the entire situation to determine ethics overall Kantian – Duty - Actions are ethical by the inherent nature - Doesn’t focus on the Consequences - Universalizability – Everyone is treated the same, what if everybody did that - Respect for Persons – treat everyone as human beings - Dignity - Rationalization – Use logic in your decisions – left brain thinking Virtue Ethics – Everyone gets this wrong, it is not very applicable – doing something memorable, being successful, rewarding lives, character trait that manifests itself, something that we always practice, not when anyone is looking, somethings that everyone can admire, very exemplary Rawls Egalitarian Theory – Social and economic inequalities are to be arranged so that they are both to the greatest benefit to the least advantaged to give fair and equality treatment of every opportunity Biggest Chapter’s for long answers is Privacy, Finance, International Business and Health and Safety. All short answer questions are from the textbook. No internet surfing is needed. Make sure when you answer the long answer questions, you relate your answer to the chapter, it’s principles. Please read the questions to see what theories you need to apply. Please apply ethical framework throughout. If it asks for another theory, please apply that one instead. Headings for Privacy Challenges for Privacy Meaning of Privacy Privacy Away from Work Privacy for Employee Records Big Data Analytics Using the Internet Headings for Health & Safety Rights in the workplace Hazardous Work Reproductive Hazards Product Safety – Due Care, Strict Liability and Contractual Headings for Finance Financial Services Financial Markets Insider Trading Hostile Takeovers Headlines for International Business Different Standards Guidelines for Multinationals Wages & Working Conditions Bribery Human Rights (Hopper Weatlh, Chapter 3, Pg 23) APA Formatting CSR – Corporate Social Responsibility Shareholder Theory - Businesses being motivated by profit Stakeholder Theory – Involves Employee’s, Customer’s, Shareholders, Suppliers, Government , Special Interest Groups, Media. How are these groups being impacted.
