Chapter 4

In: Business and Management

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Chapter Four
Business Ethics and Social Responsibility: Doing Well by
Doing Good

Review Questions

How do relative ethics compare to universal ethical standards? Should ethics ever be relative? Provide a rationale for your response.
Relative ethics apply to you and your family. Universal ethics apply to everyone depending on the situations that they encounter. Ethics should be relative because everyone should be held accountable to know the difference between right and wrong.
What is an ethical dilemma? Give 3 examples of ethical dilemmas that workers or managers might face in a business setting.
An ethical dilemma is when you are in put in a situation with negative consequences forcing you to choose between two or more bad options. 1) Your boss tells you to write a check for him to cover the cost of entertaining a company client the previous night. He turns in the necessary receipts, but you over hear him talking to his girlfriend thanking him for the dinner the previous night. 2) You are in real estate, and you have a potential seller who says to help them sell their deceased parents house and they don’t know how much it is worth, but they will be happy with $100,000. You look at the house and realize this house is easily worth $200,000 and would be a perfect house for your sister. 3) You are a teacher, you have a student who is a full time student and is also working full time to pay for college. His job is interfering with his school performance and at the end of the semester, you feel the most he can earn is a D. The school counselor informs you that he needs a C to keep his scholarship or he will have to drop out.
Compare the role of the individual and the role of the organization in ethical decision-making. How can business promote an ethical climate?
The individual role is when your decisions will affect you or your family. The…...

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