Please Plagirism is Prohibited . You have been asked to give an introductory tal
ID: 395820 • Letter: P
Question
Please Plagirism is Prohibited
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You have been asked to give an introductory talk to new Business students about the meaning of ethics and its role in the Business world. You are going to base your talk on the answers to the following questions.
Write a report which can be given as a talk, based on all parts of all 6 questions:
1. What is the meaning of ‘business ethics’?
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2. Explain the background of the following ethical theories by discussing the contribution of the early philosophers Immanuel Kant and John Stuart Mill and discussing the subsequent development of other ethical theories :
a. Deontological / non consequentialist theories
b. Teleological / consequentialist theories
c. Natural Law theory of individual rights and duties.
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3. Explain the meaning of (i) absolute ethics and (ii) relative ethics. Describe the differences between them.
4. A business person applies for a licence to start a new business and is asked to pay a bribe to obtain the licence. What would his response be if he applies (i) absolute ethics, and (ii) relative ethics?
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5. What is the meaning of ‘Corporate Social Responsibility’? How could it affect the operations of a business?
6. Explain the ethical issues which may affect the way a business runs its operations with respect to:
a. corporate governance
b. the environment
c. customers
d. working conditions for employees
Explanation / Answer
1Ans:- Business ethics talks about application of ethical principles in a business environment. It is necessary to differentiate between right and wrong in an ambiguous business situation and business ethics helps with it.
2 a) Deontological theory talks about moral principles which should be followed in every situation. The decision should not depend upon the outcome but on moral principles.
2 b) Theological ethics talks about application of religious principles in the modern day problem. It says that any decision should be based on the outcome of that decision.
2 c) Natural law theory believes that laws are defined by morality and not by human made laws. These laws are present in human being by inheritance and it can't be taught.
3 Ans:- Absolute theory believes that there can't be any change in ethical principles but relative ethics believes that different situations can have different outcomes, so different principles can be applied.
4Ans: As per absolute ethics he should not pay any bribe because it is wrong. As per relative ethics, different societies might have different tolerance level to bribe. So, it should decided accordingly.
5) Corporate social responsibility talks about responsibility of business houses to care about underprivileged people in society and even towards environment. A CSR activity can even create good brand image for the company because of it's attitude to be people friendly.