Is Business Bluffing Ethical?
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The ethics of business are impersonal game ethics. No one should condemn business because its standards of right and wrong differ from the prevailing traditions of morality in society.
- Just as the ethics of ordinary morality are suspended in games, so they are suspended in business. A business person is not, therefore, immoral if she does not follow ordinary morality in the course of doing business.
- It is impossible to be successful in business if one applies the ethical standards of private life. Therefore business people are entitled to conduct business on a different standard of morality.
A person might have serious qualms about some of the seemingly immoral activities associated with business and not be able to reconcile the activities that take place in business with his personal beliefs.
The morality of business practices cannot be judged on the standards of private morality. So long as a business practice is legal and produces a profit it is morally acceptable.
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Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when
A) there is an imbalance of knowledge between buyer and seller. B) business would be an "inept custodian" of public values. C) firms are unwilling or simply refuse to maximize profits. D) corporate culture promotes dysfunctional social relations.
Corporations should welcome the outside opinions of society as a whole, local communities, customers, suppliers,
employees, managers, and stockholders.
a. True b. False
Which of the following best describes the caring model of the organization?
a. Caring is focused on quality and profitability. b. Caring should be viewed as a way to increase productivity. c. Caring is personal in nature. d. Caring will enhance the performance of those who receive the care.
Which of the following relies on utilitarian solutions?
a. deontological theories b. virtue theories c. Asian and African theories d. teleological theories