BUS 600 - Week 3 Assignment #1 -> Chap 2 Ethics

3-6 ideas learn from each of Chapter 2 Ethics


Ethics
1) Social Responsibility of Business
A business is responsible for making sure that the community is helped out by its presence as much as the community helps out the business. In most places, local business is a source of income, tax revenues for the city, and a means in which people can make a better life for themselves.

2) Relativism and Its Four Forms
Things are rarely black and white. Relativism proposes that ethics are “relative” to the personal, social, and cultural circumstances in which one finds oneself. Its four forms:
a. Naïve Relativism – every person has his or her own standard that enables him or her to make choices; nobody may morally judge another. E.g. you have your 10-year old to help out with your business; outsiders might not make moral judgment that it is an act of child slavery.
b. Role Relativism – distinguishes between our private selves and our public roles. E.g. if you were a firearm CEO, your role requires you look out for the best firearm even if you personally are against guns.
c. Social Group Relativism – similar to naïve relativism. People refer to social norms to render ethical judgment. “Industry practices”, “professional codes of conduct” are the cop-outs of the social relativist.
d. Cultural Relativism – there isn’t a “universal” moral code by which to judge another society’s moral and ethical standards. There exist countries outside of te US where it is customary to bribe government officials for preferential treatment.

3) Stakeholder Analysis – A framework considering who is affected by a business decision
A stakeholder is any person or organization, who can be positively or negatively impacted by, or cause an impact on the actions of a company, government, or organization. As a first step a list should be made of all potentially affected parties, then evaluate all the “harms and benefits” that an action involved. The next level of analysis is to determine each of the affected parties’ “right and responsibilities”.