Business ethics

• Explain the term shareholders

  People who own or own part of a business
• Explain the term stakeholders

  Anyone/anything that has an interest or is affected by a business
• What is corporate social responsibility ? (CSR)

  Concept that corporations/businesses need to be held accountable for the impact their actions have
• Who disagreed with CRS?

  Friedman
• Who said it’s a business purpose to make money ?

  Friedman
• What does Friedman say about businesses other expectations?

  No other expectations for the business apart from profit
• What does Friedman say about business behaviour?

  Can behave how they want if they don’t break the law
• How does Nestlé support Friedman’s view on CSR? (Case study)

  Behave unethically by selling harmful products however it creates profit - doesn’t break law
• Who agrees with CSR?

  Dame Anne Mills
• What is the quote associated with Dame Anne Mills regarding CSR?

  Good ethics is good business
• According to Mills, what is needed between customers and a business? (CSR)

  trust
• What should a business do to create profit according to Mills (CSR)

  • Do the right thing

  • treat employees ethically = work harder
• How does Ben & Jerry’s support Mills view on CSR?

  • behave ethically which reflects their brand values
• What is the Kantian view on corporate social responsibility and why?

  Agrees - businesses have a duty to not exploit customers or use them as a means to an end for profit
• What is the utilitarian view on corporate social responsibility?

  Both

  Agree - unethical business behaviour goes against the principle of utility

  Disagree - businesses can’t please everyone therefore harm must be done to benefit the majority
• Define whistleblowing

  When an employee discloses illegal behaviours made by a company
• give 3 examples of whistleblowing

  • Fraud

  • health and safety violations

  • damage to environment
• Give reasons why people SHOULD whistleblow

  • brings justice to people

  • people are legally protected from the company to whistleblow
• Which law protects people for whistleblowing?

  Public interest disclosure act 1998
• Give reasons why people SHOULDN'T whistleblow

  • company sensitive info revealed benefits rival business

  • people whistleblow due to personal grudges and not to do the right thing
• Why would Kantian ethics agree with whistleblowing?

  • Universalism - its wrong to lie

  • kingdom of ends - in an ideal world corruption is exposed

  • companies = duty to not exploit people
• Why would Kantian ethics disagree with whistleblowing?

  Employees = duty (of loyalty) to shareholders and company
• Why would utilitarianism agree with whistleblowing?

  Outcome could stop future harm to the majority
• Why might utilitarianism disagree with whistleblowing?

  • can cause end of a company = job losses = pain
• How does the Edward Snowdon case support whistleblowing?

  exposed NSA for spying on American citizens without their knowledge
• Explain globalisation

  Advanced technology has allowed businesses to operate globally
• What are the positives of globalisation? (ao2)

  • companies employ people from developing countries

  • migrant workers share their cultures - eg food

  • companies have larger customer base
• What are the negatives of globalisation? (ao2)

  • companies exploit workers - sweatshops

  • increased global weapon trade = terrorism

  • human trafficking
• How do Foxcon factories support the negatives globalisation? (ao2)

  • Don’t pay their workers

  • are known to abuse their staff

  • have high rates of suicide
• Why would Kantian ethics disagree with globalisation?

  Companies = duty to not exploit their workers
• Why would Kantian ethics agree with globalisation?

  Companies = duty to maximise profit globally
• Why would utilitarianism disagree with globalisation?

  Exploits the majority (workers) to create happiness for citizens in developing countries
• Why would utilitarianism agree with globalisation?

  Creates happiness by offering jobs and sharing cultures