Essay on Chapter 6 Business Ethics and Ethical Decision...

1. Discuss the advantages and disadvantages of each decision that Elaine has made. a. 1st decision Graphic, Inc. loan of $10 million. Graphco was a tobacco firm embroiled in litigation concerning the promotion of its products to children. Elaine based her decision by Moral Philosophies which refers to the specific principals or rules that people use to decide what is right or wrong (Ferrell, Fraedrich, Ferrell, Ninth Edition Business Ethics, p 153). The advantage to this decision is she did what she felt was morally acceptable, the disadvantage is she does not have their business and she has no reason to believe they would not pay the loan back and she would have made money for the bank if she accepted and approved the loan†¦show more content†¦The advantage is she stayed away from an ethically questionable company since they were basically price gouging and the disadvantage, if you can get past the ethical decisions the company made, is they are a very successful company. This one she was overruled and forced to sign the loan. d. The last company was from Brazil requesting an agricultural loan to harvest parts of the rain forest and was willing to pay almost 2 points over the going rate on a $40 million loan. To Elaine this had environmental implications and was going against her stand on the environment. Elaine’s philosophy on this decision what is known as â€Å"Virtue Ethics† behavior adhering to moral behavior and what a mature person with â€Å"good† moral character would deem appropriate in a given situation. Advantages in this decision is on her end only, she felt as if she was going to save part of the rain forest but unfortunately the Brazilian company decided to just get the loan somewhere else, one of her competitors which is the disadvantage. 2. What are the Ethical and Legal considerations facing Elaine, Dennis, and UBC? a. Elaine could be forced to start making decisions to save the bottom line for the bank (UBC). She has already lost employees over the past year due to her regulations being too provincial for the emerging global marketplace. Elaine may have to think about re-writing her standards for the bank decisions for approving loans. She already lost one major accountShow MoreRelatedLWC1 Study Guide1467 Words   |  6 Pagesas you prepare for the exam. ETHICAL ISSUES IN BUSINESS: Chapters 1-4 For each of the chapters do the following: Look up the answers to the questions asked below. Answer the end of chapter question (there are only a few) and check your answers. Complete the interactive quizzes in the COS—make sure to write down the ones you miss so that you can focus on specific topics. Chapter 1: 1. How would you define â€Å"business ethics†? 2. How has â€Å"business ethics† developed over time? 3. WhatRead MoreCase: 9 Enron928 Words   |  4 PagesCase 9: Enron; Questionable Accounting Leads to Collapse Bruce Smith Minnesota School of Business BS430 Business Ethics MR. Morris November 25, 2012 1. 2. 1. How did the corporate culture of Enron contribute to its bankruptcy? Effective leaders are good at getting followers to their common goals or objectives in the most effective and efficient way; unfortunately for Enron, in the end Ken Lay and Jeffery skilling were too focused on profits that nothing else mattered. In theRead MoreCorporate Social Responsibility and Single Strongest Argument1106 Words   |  5 Pagesfactors in the social environment that create an atmosphere in which business criticism takes place and prospers. dasdasdassadasdasdadadasdadsdadasdasdassssssssssssssssssssss- ssssssssssssssssssssssssssssssssssssssssssssssssssssssssssss- ssssssssssssssssssssssscourse? Or is it still a vital reality? 4. Give an example of each of the four levels of power discussed in this chapter. Also, give an example of each of the spheres of business power. 5. Explain in your own words the Iron Law of ResponsibilityRead MoreEthics Development Essay1423 Words   |  6 PagesEthics Development Ethics guide the decision-making and actions of an individual. More extensively, collective employee ethics shape the direction of a company. This document will explore sources of ethical influence, both for individuals, and organizations. It will further explain the need for ethics at an organizational level, how those fit in with directions and goals of an organization, and finally conclude with the effect both individual and organizational ethics have on society. PersonalRead MoreOrganizational Ethics934 Words   |  4 PagesWeek Three Managerial Ethics †¢ Identify typical ethical problems of managers. †¢ Recognize differences in ethical behavior and responsibility between an employee and a manager. Course Assignments 4. Readings †¢ Read Ch. 6 7 of Managing Business Ethics. †¢ Read this week’s Electronic Reserve Readings. 5. Learning Team Instructions †¢ Begin preparing for the Ethics in the Workplace Case Study Action Plan Presentation due in Week Five by reading one of the following case studiesRead MoreBusiness Ethics Essay1496 Words   |  6 Pagesï » ¿LAW ETHICS IN THE BUSINESS ENVIRONMENT 6e Test Bank Revisions for the 7th edition by Eric D. Yordy, The W. A. Franke College of Business at Northern Arizona University CHAPTER 1 Law, Ethics, Business: An Introduction Questions 1. Select the best definition of ethics: a. a fairly clear cut set of guides for decision making. b. a set of relatively unclear principles regarding what we must do. c. a set of relatively unclear principles regarding what we should do. d. religious viewsRead MoreThe Importance of Ethics and Values in Business Sustainability1326 Words   |  6 PagesBusiness Management Research Assignment (chapter 5 11) Q1: The importance of ethics and values in business sustainability: Ethics has to do with an individual’s judgment and their morals. Their ethics help us determine right from wrong. â€Å"Values are attitudes towards things like truths, justice, honesty etc.†( Nieuwenhuizen, Oosthuizen Drotskie 2012:95) Ethics and values are important within a business organisation because they influence morals and decisions within an organisation and need toRead MoreThe Ethics Of An Ethical Leader1251 Words   |  6 Pagesherself in the mirror and see an honest, ethical person looking back at them. At the end of the day, my philosophy on ethics is simply Integrity is doing the right thing, even if nobody is watching. By Jim Stovall, American author. What does it mean to be an ethical leader? As I reflect back on the teachings and readings in this course I have learned that as an ethical leader it is important to focus on what is right and to lead with integrity. Ethical leaders realize it begins with them and thatRead MoreBusiness 115 Final Exam Study Guide Essay1334 Words   |  6 Pagesessay question should answer the question completely and average 2 – 3 paragraphs in length. The exam reflects the following course objectives and possible topics: TCO 1 Chapters 1, 2, 3, 5, 6, 13 and 15 Weeks 1, 2, 4 and 5 Given a description of a typical business, demonstrate how that business acts within our economic system to achieve its goals as well as those of society, along with an understanding of how the future may impact these goals. * Understand the relationshipRead MoreChapter 1 Business Ethics2294 Words   |  10 Pageschapter 1 BUSINESS ETHICS, THE CHANGING ENVIRONMENT, AND STAKEHOLDER MANAGEMENT |TOPICS COVERED | 1.1 Business Ethics and the Changing Environment 1.2 WHAT IS BUSINESS ETHICS? WHY DOES IT MATTER? 1.3 LEVELS OF BUSINESS ETHICS 1.4 FIVE MYTHS ABOUT BUSINESS ETHICS 1.5 WHY USE ETHICAL REASONING IN BUSINESS? 1.6 CAN BUSINESS ETHICS BE TAUGHT AND TRAINED