BUSI 4601- Final Exam Guide - Comprehensive Notes for the exam ( 25 pages long!)
30 Nov 2017
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Document Summary
Conceptual framework and ethical vocabulary needed to defend decisions. Ethics were invented because ethical behaviour is not congruent with self-interest. Ethics is more closely connected with welfare of society. Law and business world function due to voluntary compliance. For ethics to work, society must foster an attitude/desire to be ethical. People agree on what is ethical (rational consensus) and act accordingly. Business ethics provides a conceptual framework for making defensible business decisions that consider all stakeholders. Ethics not as precise as math/chemistry because it is harder and more effort has been put to study chemistry/math. Key point of ethics is to apply conditions of rational choice in a cogent manner. Myths: myth 1 (learn ethics as kids, too late to change behavior as adults) ethical maturity grows with cognitive ability, cognitive ability grows throughout life stages. Ethical analysis training can help process along: myth 2 (no point in studying ethics, we all know what is right)
