Business ethics

• What is Corporate Social Responsibility?

  Businesses have a wider responsibility.
• Who is a shareholder?

  Person invested money in business.
• What is a stakeholder?

  Person affected or involved in the business.
• What does whistle-blowing mean?

  Employee disclosing wrongdoing to authority.
• What is capitalism?

  Economic system based on private ownership.
• What is globalization?

  Integration of economics, industry, and culture globally.
• What is consumerism?

  Social belief that material objects have high value.
• What are the responsibilities of corporations according to Corporate Social Responsibility?

  • Responsible for actions and implications.
  • Responsibility to shareholders and employees.
  • Ensure safe conditions, fair treatment, and fair pay.
• What did Milton Friedman argue about business responsibility?

  Only responsibility is to make profit for shareholders.
• What is the quote by Milton Friedman regarding business responsibility?

  “One social responsibility of business is profit.”
• What does Cardinal Vincent Nichols argue about business responsibilities?

  Businesses have duties towards the community.
• What is a risk to a business's reputation?

  Negative effects on stakeholders.
• What is the difference between stakeholders and shareholders?

  Stakeholders have needs; shareholders have interests.
• Why do businesses give surplus to charity?

  To enhance ethical reputation.
• What is the Kantian perspective on ethical actions?

  Action is good if it comes from good will.
• What does the Kantian perspective say about pollution?

  Caring about pollution is good for reputation.
• What is the utilitarian approach to business actions?

  Analyze pain/pleasure to determine morality.
• What does Act Utilitarianism focus on?

  Each situation on its own merit.
• What does Rule Utilitarianism emphasize?

  Adherence to general consensus rules.
• What are the benefits of good ethics in business?

  • Prioritizing ethical supply chains.
  • Not harming the environment for profit.
  • Collaborating with non-profit organizations.
• What is the dilemma of businesses acting ethically for profit?

  Ethical actions may only benefit some groups.
• What challenge do ethical businesses face?

  Competing with unethical competitors.
• How do higher wages affect business pricing?

  Higher wages often lead to higher prices.
• What is the compromise position in ethics?

  Only practical ethical positions for impractical choices.
• What does Kantian ethics say about doing the right thing?

  Do the right thing for its own sake.
• What is the utilitarian view on greatest happiness?

  Interests can conflict with judgment.
• What did Adam Smith argue regarding capitalism?

  Good service benefits everyone in the end.
• What are the effects of globalization on businesses?

  • Integration of business, culture, and industry.
  • Greater range of affected stakeholders.
  • Issues like cheap labor and lax safety laws.
• What are the negative effects of globalization on wages?

  Lowering wages and job losses in developed countries.
• What cultural impact does globalization have?

  Loss of culture or national identity.
• What was the Rana Plaza factory collapse?

  Event that pressured companies to improve conditions.
• What does the Kantian perspective say about worker treatment?

  Duty to treat people with dignity and safety.
• What is the utilitarian view on cheap goods?

  Good outweighs the bad on a large scale.
• What is the preferential option of employees?

  Employees' interests should be prioritized.
• What did Bentham and Mill advocate for?

  Social reforms and improving working conditions.
• CR issues happen among the whole value chain, Human rights violations/other problems are concerned in the upstream and which one in the downstream?

  -upstream is supplier oriented, so mostly childlabour and enviroement in the raw material is a topic and environmental issues in the factory. Downstream is consumer oriented so Recyling, and Health issues/safety of consumers is often a topic
• What happened in RANA PLAZA in Bangladesh (human rights case)

  Rana Plaza was a house where textile fabric workers llived, who worked for Benetton, Mango. It collapsed in 2013 1000 died 2000 injuerd. Because the construction was built on a ow quality to save costs.
• What are also indirect reason for the Rana Plaza incident?

  Worldwide competition, outsorcing production to low-wage countries, too less state control
• What was the Reaction to RANA Plaza by the Bangladeshi Government?

  To regulary inspet the safety of textile factories - 18 were closed in 2013, minimum salary. Trade Unions were signed by many other companies so that workers can report wrong doings. Creation of the RANA PLAZA Trust fund - payment to the surviving ones.
• Witch formal national law in the constitution was made after the rana plaza?

  Accord on Fire and Safety