Chapter Questions About Business

Business is based on self- interest view on ethics in that it is an interest in all matter that relate to me, y friends, my family and the society in which I live. Utilitarianism. 2. Is someone who makes ethical decision based on enlightened self-interest worthy of more or less praise than someone who makes a similar decision based solely on economic considerations? Someone who makes ethical decisions based on enlightened self-interest is worthy of more praise. Self-interest motives people to form peaceful civil societies.

The desire for personal security means that individuals voluntarily limit their personal freedoms in order to secure social harmony. Whereas a decision based solely on economics considerations are selfish. This means that the decision only concerns the individual, places the individual’s needs and concerns about those of others. In this case, it purely suggests that they are only doing it for the money. 3. Since happiness is extremely subjective, how would you objectively measure and assess happiness? Do you agree with J. S. Mill that arithmetic can be used to calculate happiness? Is money a good proxy for happiness?

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It would be done through self-reporting, by being asked questions and having to quantify the number of how happy that scenario makes you. This could lso be done with a brain, heart rate and sweating monitoring whilst being asked the same question to establish a correlation for future tests. I do not agree with J. S. Mill, as I think that anyone can do things with numbers, and they do not always make sense. There is no common unit of measurement for happiness, nor is one person’s happiness the equivalent of another person happiness. Money cannot buy happiness, as it cannot capture the degree of happiness felt. . Is there any categorical imperative that you can think of that would have universal application? Isnt there an exception to every rule? If it’s okay for me to lie, it’s okay for other to lie to me” There are exception to every rule, depending on the objective to be achieved by someone. In the lying example, if the person was to go to court, they would not be able to lie. 5. Assume the Firm A is publicly traded company that puts its financial statements on the web. This information can be accessed and read by anyone, even those who do not own shares of Firm A.

This a free-rider situation, where an investor can use Firm A as a means to making an investment decision about another company. Is this ethical? Do free-riding reat another individual as a mean and not also as an end? The practical imperative does not suggest that you cannot use people, but simply that if you treat them as a means, then you must simultaneously treat them as end. It also states that everyone is entitled to pursue their own personal goals as long as they do not violate the practical imperative. Treating others as end means that we acknowledge them that we are all part of society, part of a moral community.

This is ethical, as the free-riding is pursuing their own personal goals on investment, and did not violate anything. . How does a business executive demonstrate virtue when dealing with a disgruntled shareholder at the annual meeting? Virtue ethics is a broad term for theories that emphasize the role of character and virtue in moral philosophy rather than either doing one’s duty or acting in order to bring about good consequences. A virtuous person is someone who has ideal character traits. These traits derive from natural internal tendencies, but need to be nurtured; however, once established, they will become stable.

The business executive could demonstrate virtue by being understanding adjustment of differences), respectful (giving particular attentions), considerate (by thinking carefully about someth ing before making a decision), cooperation (work together to fix the problem), courage and determination (strength to preserve and withstand difficulty), fairness and ethical (treating people that dot not favour others while being morally right and good), flexibility (willing to try different things), gentleness (showing a kind nature), honesty and integrity (being fair and truthful), patience (ability to wait without being annoyed) and being optimistic (expecting good things to happen). . Commuters who have more than one passenger in the car are permitted to drive in a special lane on the highway while all the Other motorists have to contend with stop-and-go traffic. What does this have to do with ethics? Utilitarianism – in this theory, the situation above is correct. As the result of the special lane creates a greater amount in pleasure than pain in ways such as reduced cars and traffic volume, less pollution, and shorter trips. Deontology – in this theory, the situation above is correct.

The motivation of the decision making is on a personal level ofthis will get me there quicker, nd also on a society level that im doing this to reduce pollution, traffic volume, etc. Justice ” in this theory, the situation above is correct. Anyone can use the special lane if they have more than 1 person, there is nothing stopping anyone by discrimination of race etc. Fairness – in this theory, the situation above is correct. They get a immediate benefit of getting to work quicker, but everyone as a society benefits from their benefit, as there is less pollution, more car parks, less traffic. Virtue – in this theory, the situation above is correct. This is because it is based on the morals of the person, they re not exploiting anything, are abiding by the rules, have to put effort into it and be committed.

Insurance and Genetically Inherited Diseases (BDI 58) 1 . Do you consider it unethical for insurance companies to charge high-risk people a higher premium than low-risk people? find it plausible as it gives an accurate description to the insurance company what that are paying for – if someone is genetically carrying a disease that is very expensive to treat, it is only fare that their premium is a true representation – otherwise other customers rates will rise to cover the cost of all these their medical expenses . Are insurance companies acting responsibly when they require customers to disclose medical information and/or submit to a medical examination?

If there are certain laws that prohibit the distribution of this information well then they are not acting responsibly however if they have non discloser statements and an up to date privacy policy, customers information and details are safe – just like going to the doctor. 3. How would you argue in favour of Judy WasyIycia-Leis’ proposed legislation? -discrimination -unfairness to equality 4. How would you argue against Judy Wasylycia-Leis’ proposed legislation? Unfair to other customers who are paying extra to cover a portion of those that has pre determined diseases -insurance companies have a right to know for future economic outflows when they become material Terrorist payments (BDI 60) 1 . Should Alex join the Board of directors of Consolidated Mines International Inc.?

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Chapter Questions About Business. (2017, Jul 19). Retrieved from