p.12
Moral Standards vs. Legal Standards
What is the divine command theory?
It posits that something is wrong solely because God commands us not to do it.
p.6
Moral Philosophy and Ethical Theories
What distinguishes moral standards from other types of standards?
Moral standards are validated by the quality of arguments or reasoning, not by authoritative bodies.
p.8
Moral Philosophy and Ethical Theories
What distinguishes morality from etiquette and law?
Morality is distinct from etiquette (rules for well-mannered behavior) and law (statutes and regulations), as well as from professional codes of ethics.
p.5
Ethics in Business and Organizational Contexts
How is an organization defined in the context of this book?
As a group of people working together to achieve a common purpose.
p.5
Moral Standards vs. Legal Standards
What is the difference between moral questions and factual questions?
Moral questions concern behavior that affects human welfare, while factual questions are based on objective facts.
p.11
Moral Standards vs. Legal Standards
What is the 'Golden Rule'?
The principle of treating others as one would like to be treated.
p.10
Moral Philosophy and Ethical Theories
What influences the moral principles we accept?
Upbringing, behavior of those around us, cultural standards, experiences, and critical reflections.
p.7
Moral Standards vs. Legal Standards
What are the four kinds of law?
Statutes, regulations, common law, and constitutional law.
p.9
Moral Standards vs. Legal Standards
What is the limitation of law in providing moral guidance?
The law cannot cover all possible human conduct and can be too blunt an instrument for adequate moral guidance.
p.12
Moral Philosophy and Ethical Theories
How do the moral instructions of major religions impact moral reasoning?
They are often general and imprecise, necessitating personal engagement in moral reasoning.
p.8
Moral Standards vs. Legal Standards
Can violating the law ever be morally permissible?
Yes, there can be circumstances where violating the law is morally permissible or even required.
p.6
Moral Philosophy and Ethical Theories
What is the significance of the civil rights movement's actions regarding etiquette?
They highlighted the moral injustice behind socially accepted but discriminatory etiquette.
p.2
Corporate Governance and Accountability
What warning did Enron Vice President Sherron Watkins give to Kenneth Lay?
That the company could soon 'implode in a wave of accounting scandals.'
p.12
Moral Standards vs. Legal Standards
What is a key argument against the idea that morality must be based on religion?
Atheists can lead moral lives, indicating that morality does not solely depend on religious belief.
p.10
Ethics in Business and Organizational Contexts
Why must professionals critically assess the rules of their code?
Because not all rules are purely moral, and being part of a profession does not guarantee sound moral principles.
p.11
Ethics in Business and Organizational Contexts
What is a key aspect of Jewish commitment to morality?
Expressions of justice and righteousness.
p.10
Moral Standards vs. Legal Standards
What is ethical relativism?
The doctrine that right and wrong are determined by what a particular society believes.
p.3
Corporate Governance and Accountability
What constitutes job discrimination?
Unfair treatment of employees based on characteristics such as race, gender, or age, rather than their abilities or qualifications.
p.4
Ethics in Business and Organizational Contexts
What is the primary focus of the book?
Ethics as it applies to business.
p.7
Moral Standards vs. Legal Standards
What does constitutional law refer to?
Court rulings on the requirements of the constitution and the constitutionality of legislation.
p.8
Moral Philosophy and Ethical Theories
What does Dr. Martin Luther King, Jr. argue about segregation in his 'Letter from Birmingham Jail'?
He argues that all segregation statutes are unjust as they distort the soul and damage personality, creating false senses of superiority and inferiority.
p.11
Relationship Between Morality and Religion
What worldview does any religion provide to its believers?
A worldview that includes moral instructions, values, and commitments.
p.11
Moral Standards vs. Legal Standards
What is the concept of original sin in the context of morality?
The belief that humans are born morally flawed.
p.8
Corporate Governance and Accountability
What is the significance of the 1954 Supreme Court decision mentioned by King?
It struck down the 'separate but equal doctrine,' which permitted racially segregated schools.
p.11
Ethics in Business and Organizational Contexts
How do Christians express their love for God?
By emulating the life of Jesus of Nazareth.
p.3
Ethics in Business and Organizational Contexts
What fundamental question does ethics address?
How should I live my life?
p.1
Enron's Financial Collapse
What accolade did Fortune magazine give to Enron for six consecutive years?
America’s 'Most Innovative Company.'
p.10
Moral Philosophy and Ethical Theories
What is the central question for philosophers regarding moral principles?
Whether those principles can withstand critical scrutiny.
p.7
Moral Standards vs. Legal Standards
What is a statute?
A law enacted by legislative bodies, such as Congress or state legislatures.
p.12
Ethics in Business and Organizational Contexts
What does Pope Francis criticize in his 2013 apostolic exhortation 'The Gospel of Joy'?
He rejects an 'economy of exclusion' and criticizes blind faith in a free market that perpetuates inequality.
p.6
Moral Philosophy and Ethical Theories
What are some examples of good etiquette in business?
Writing follow-up letters, returning phone calls, and dressing appropriately.
p.9
Moral Standards vs. Legal Standards
How do laws relate to societal moral standards?
Laws tend to reflect changes in what a society takes to be right and wrong, but they are not sufficient to establish moral standards.
p.9
Professional Codes of Ethics
What role do professional codes of ethics play?
They govern the conduct of members of a profession and adherence is required for membership.
p.11
Relationship Between Morality and Religion
How do the Jewish and Christian traditions view humans?
As unique products of divine intervention, endowed with consciousness and the ability to love.
p.9
Professional Codes of Ethics
What can happen if a professional code of ethics is violated?
It may result in disapproval from peers or loss of one's license to practice.
p.5
Ethics in Business and Organizational Contexts
What broader view does the book take regarding moral issues?
It addresses organizational ethics as well as business ethics.
p.2
Ethics in Business and Organizational Contexts
What moral issues in business are often overlooked compared to high-profile cases like Enron?
The mundane, everyday moral challenges faced by working men and women.
p.9
Professional Codes of Ethics
How can professional codes of ethics vary?
They can be unwritten or written, vague or specific, and may involve a mix of moral rules.
p.1
Opaque Financial Practices
What financial strategy did Enron use to obscure its financial records?
Enron created a complex structure of off-balance-sheet special-purpose entities.
p.10
Moral Standards vs. Legal Standards
What moral obligation arises from agreeing to a professional code?
Assuming the rules don't require morally impermissible conduct, there is a moral obligation to follow them.
p.3
Moral Standards vs. Legal Standards
What distinguishes morality from etiquette, law, and professional codes of conduct?
Morality involves principles and values that govern right and wrong behavior, while etiquette and law are more about social norms and regulations.
p.10
Relationship Between Morality and Religion
What is the relationship between morality and religion according to some views?
Some believe morality is solely based on religion, which is a mistaken view.
p.4
Corporate Governance and Accountability
What is the purpose of the MBA oath signed by students?
To pledge not to advance personal interests at the expense of enterprise or society and to refrain from unethical practices.
p.7
Moral Standards vs. Legal Standards
What is common law?
The body of judge-made law developed from court opinions and precedents.
p.2
Corporate Governance and Accountability
What was Enron known as in the investment banking industry?
The 'deal machine' due to its generation of significant investment banking business.
p.8
Moral Standards vs. Legal Standards
What is an example of a legal action that can be morally wrong?
Brokers not being legally required to act in their customers’ best interests when advising on retirement money.
p.6
Moral Philosophy and Ethical Theories
What does it mean for a standard to be nonmoral in character?
It means the standard is based on social norms rather than ethical considerations.
p.5
Moral Standards vs. Legal Standards
How do moral standards differ from other types of standards?
Moral standards take priority over other standards, including self-interest.
p.11
Corporate Governance and Accountability
What role do religious bodies play in societal issues?
They articulate positions on political, educational, economic, and medical issues, influencing public opinion.
p.10
Moral Philosophy and Ethical Theories
What is the philosophical issue regarding moral principles?
Whether those principles can be justified, rather than how we came to have them.
p.1
Enron's Financial Collapse
What was the significance of Enron's bankruptcy?
It was the largest Chapter 11 filing in U.S. history.
p.3
Ethics in Business and Organizational Contexts
When, if ever, is an employee morally required to blow the whistle?
When they witness unethical or illegal activities that harm others and have exhausted other avenues for addressing the issue.
p.7
Moral Standards vs. Legal Standards
How can an action be illegal but morally right?
For example, helping a Jewish family hide from the Nazis was illegal but morally admirable.
p.7
Moral Standards vs. Legal Standards
Why is it important to distinguish between legality and morality?
Because breaking the law isn't always immoral, and legality doesn't guarantee morality.
p.7
Moral Standards vs. Legal Standards
What role do courts play in determining the constitutionality of laws?
Courts can rule on whether laws are compatible with the constitution and declare them invalid if they conflict.
p.7
Moral Standards vs. Legal Standards
What is the significance of administrative regulations?
They are legally binding rules established by boards or agencies within their statutory powers.
p.6
Moral Philosophy and Ethical Theories
How does etiquette differ from morality?
Etiquette refers to socially acceptable behavior, while morality involves ethical considerations.
p.2
Corporate Governance and Accountability
How many Wall Street analysts recommended selling Enron stock just before its bankruptcy?
Only two out of sixteen analysts.
p.12
Moral Standards vs. Legal Standards
What is a common belief about the relationship between morality and religion?
Many believe that morality must be based on religion for moral guidance or incentive.
p.2
Corporate Governance and Accountability
What role did large banks play in Enron's fraudulent activities?
They helped manufacture Enron's fraudulent financial statements.
p.6
Moral Philosophy and Ethical Theories
Can violations of etiquette have moral implications?
Yes, violations can raise moral issues, such as disrespect or perpetuating inequality.
p.12
Moral Philosophy and Ethical Theories
What motivates people to act morally, according to the text?
People may act morally out of habit, personal standards, concern for others, peer approval, or to avoid punishment.
p.8
Moral Standards vs. Legal Standards
What might happen if someone sees an accident victim but chooses not to help?
Legally, they are not obligated to help, but morally, their action could be considered wrong.
p.2
Corporate Governance and Accountability
What was the consequence for Citibank regarding Enron's collapse?
Citibank had to pay $2 billion to Enron's victimized shareholders.
p.8
Corporate Governance and Accountability
How does law relate to morality?
Law codifies a society’s customs, ideals, norms, and moral values.
p.2
Corporate Governance and Accountability
How many members of Congress received money from Enron or its accounting firm?
212 out of 248 members on the investigating committees.
p.6
Moral Philosophy and Ethical Theories
What is a debated question regarding moral standards?
What constitutes adequate grounds or justification for a moral standard.
p.12
Moral Philosophy and Ethical Theories
Why do critics reject the divine command theory?
They argue that moral wrongness exists independently of God's commands; God forbids actions because they are wrong, not the other way around.
p.9
Professional Codes of Ethics
What is an example of an unwritten professional code?
Professors should not date their students.
p.2
Corporate Governance and Accountability
What was Arthur Andersen's primary concern according to the text?
Its auditing and consulting fees rather than its fiduciary responsibilities.
p.9
Moral Standards vs. Legal Standards
What is the relationship between law and moral conduct?
The law generally prohibits egregious affronts to moral standards but breaches can still occur.
p.5
Moral Standards vs. Legal Standards
What are moral standards concerned with?
Behavior that is of serious consequence to human welfare.
p.1
Kenneth Lay's Role and Actions
What actions did Kenneth Lay take regarding Enron's stock as the company faced financial collapse?
He recommended the company's stock to employees while cashing in his shares.
p.1
Impact on Employees and Investors
How much did Enron's stock fall, impacting employees' retirement accounts?
The stock fell from a high value to only a few pennies a share, costing employees over a billion dollars.
p.2
Corporate Governance and Accountability
What was the outcome for Arthur Andersen after the Enron scandal?
The firm was convicted of obstructing justice and was driven out of business.
p.5
Ethics in Business and Organizational Contexts
What does business ethics study?
What constitutes right and wrong (or good and bad) human conduct in a business context.
p.5
Ethics in Business and Organizational Contexts
Why do some people dismiss the idea of business ethics?
They believe that business has no ethics and consider themselves realistic.
p.3
Ethics in Business and Organizational Contexts
What are some social and psychological factors that can jeopardize an individual's integrity?
Peer pressure, organizational culture, and personal circumstances can all impact moral decision-making.
p.4
Moral Philosophy and Ethical Theories
Who is Cicero and what did he discuss regarding business ethics?
A Roman philosopher who debated the ethical obligations of merchants in situations of market scarcity.
p.4
Ethics in Business and Organizational Contexts
What does the term 'business' encompass in this context?
Any organization whose objective is to provide goods or services for profit.
p.4
Ethics in Business and Organizational Contexts
What is the role of businesspeople?
To participate in planning, organizing, or directing the work of business.
p.2
Corporate Governance and Accountability
What action did a partner at Arthur Andersen take when the Enron scandal began to break?
Organized the shredding of incriminating Enron documents.
p.11
Moral Standards vs. Legal Standards
Can you name a specific example of the 'Golden Rule' from a religion?
In Christianity: 'Therefore all things whatsoever ye would that men should do to you, do ye even so to them.' (Matthew 7:12)
p.1
Enron's Financial Collapse
What was the result of Enron having to redo its financial statements for a three-year period?
Profits dropped by $600 million and debts increased by $630 million.
p.1
Enron's Financial Collapse
How did Enron's stock perform in terms of growth during its peak years?
It increased by 40%, 58%, and 89% in consecutive years.
p.10
Impact on Employees and Investors
What is the importance of living up to professional standards?
It can be a significant source of personal satisfaction.
p.4
Ethics in Business and Organizational Contexts
How is business ethics defined?
The study of what constitutes right and wrong, or good and bad, human conduct in a business context.
p.4
Corporate Governance and Accountability
What recent actions have business schools taken regarding ethics?
They have introduced new rules on including ethics in their curricula.
p.10
Professional Codes of Ethics
What is the role of professional codes of ethics in business?
They provide guidelines for moral obligations, etiquette, and economic interests, but are not completely reliable.
p.1
Kenneth Lay's Role and Actions
What was Kenneth Lay convicted of?
Conspiracy and multiple counts of fraud.
p.3
Moral Philosophy and Ethical Theories
What role do values and ideals play in a person's life?
They guide individual behavior and decision-making, influencing what is considered right or wrong.
p.3
Corporate Governance and Accountability
How should organizations respond to the problem of sexual harassment?
By implementing clear policies, providing training, and ensuring a safe environment for all employees.
p.5
Moral Standards vs. Legal Standards
What is a key characteristic of moral standards?
Their soundness depends on the adequacy of the reasons that support or justify them.
p.5
Moral Standards vs. Legal Standards
What conventional moral norms are mentioned?
Norms against lying, stealing, and killing.
p.10
Corporate Governance and Accountability
What should professionals do when their standards conflict with ordinary ethical requirements?
They must be alert and assess the situation critically.
p.3
Moral Philosophy and Ethical Theories
What is the significance of sound moral reasoning?
It helps individuals make justified moral judgments and distinguish right actions from wrong actions.
p.4
Moral Philosophy and Ethical Theories
What is the difference between ethics and morals according to most people?
Most people see no real distinction between a person’s morals and a person’s ethics.
p.3
Moral Standards vs. Legal Standards
What is the doctrine of ethical relativism?
The belief that moral standards are not absolute and can vary based on culture or individual circumstances.
p.3
Moral Philosophy and Ethical Theories
What is the relationship between morality and self-interest?
Morality often requires individuals to consider the welfare of others, which can conflict with self-interest.
p.4
Ethics in Business and Organizational Contexts
What ethical dilemma does the example of the honest merchant from Alexandria illustrate?
Whether to inform buyers about additional wheat arriving in Rhodes or to sell at the best price without disclosing that information.
