Business Ethics

• What is the main focus of business ethics?

  The relationship between capitalism and ethics
• What is the view that good ethics is good business?

  Good business decisions are good ethical decisions
• Why do proponents of CSR argue that good ethics is good business?

  It’s profitable to have a good public image
• What do utilitarians and Kantians believe about business decisions?

  Some restrictions on business are necessary
• What do libertarian economists like Milton Friedman believe about business and ethics?

  They believe business and ethics are unrelated
• What are the three sub-issues in business ethics?

  • Corporate social responsibility (CSR)
  • Globalisation
  • Whistleblowing
• What is corporate social responsibility (CSR)?

  Businesses have ethical responsibilities to society
• What is environmental CSR?

  Responsibility towards the environment
• What are some actions included in environmental CSR?

  Reducing pollution and using renewable energy
• What is community CSR?

  Responsibility towards social communities and human rights
• What are some actions included in community CSR?

  Avoiding exploitation and treating employees well
• What does philanthropy in CSR involve?

  Donating money to charitable causes
• What does ESG stand for in CSR?

  Environmental, social, and governance
• How can CSR/ESG benefit businesses financially?

  By minimizing risks and improving public relations
• What do utilitarians believe about free market capitalism?

  It maximizes happiness through profit maximization
• How do Bentham and Mill view environmental CSR?

  They likely accept it due to climate change
• What is Kantian ethics' view on market interactions?

  They should not treat people as mere means
• What are some responsibilities under Kantian ethics regarding community CSR?

  Paying fair wages and providing safe environments
• What is the critique of CSR as hypocritical window-dressing?

  It may distract from unethical business practices
• What does Anand Giridharadas argue about corporate social responsibility?

  It can be self-serving and hypocritical
• What is the impact of globalisation on corporate social responsibilities?

  It can lead to violations of CSR
• What is offshore outsourcing?

  Building products in factories in third world countries
• What is a monopoly in business?

  A business dominating a market with no competition
• How can corporations influence government policies?

  By financing election campaigns and lobbying
• What is the utilitarian view on offshore outsourcing?

  It may be acceptable if happiness is maximized
• What is whistleblowing?

  Leaking information about a company's wrongdoings
• What was revealed in the Facebook case study regarding whistleblowing?

  Internal documents showed harm to teenage girls
• What is the downside of whistleblowing?

  It may cause financial losses for the company
• What does act utilitarianism say about whistleblowing?

  It is right if it maximizes happiness
• What is Kant's view on lying in business?

  Lying cannot be universalized and is always wrong
• What are sweatshops?

  Factories employing workers in poor conditions
• How are sweatshops related to CSR?

  Businesses should ensure no sweatshop involvement
• What is the utilitarian defense of sweatshops?

  They provide the best opportunity for workers
• What was the Primark case study about?

  Primark used exploitative factories with child labor
• How does utilitarianism compare to Kant regarding business ethics?

  Utilitarianism justifies actions based on outcomes
• What is the primary profit incentive for businesses to open sweatshops in third world countries?

  It is cheaper than regulated factories.
• What is the consequence of businesses stopping to open sweatshops in third world countries?

  People will lose a potential economic step up.
• Why might a Utilitarian support globalization?

  It can lead to overall happiness and lower prices.
• What unethical practices were Primark associated with in their case study?

  Child labor and low wages for long hours.
• What action did Primark take in response to exploitative factories?

  They cut ties with those suppliers.