ethics study guide

Ethics study guide - THIS WAS THE FINAL LAST YEARSOME DUDE TOLD US THE QUESTIONS AND WE ANSWERED THEM.BUT I STILL SOMEHOW GOT B ON FINAL LOL What

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
THIS WAS THE FINAL LAST YEAR …SOME DUDE TOLD US THE QUESTIONS AND WE ANSWERED THEM. .BUT I STILL SOMEHOW GOT B ON FINAL LOL What is your stance of businesses role in society, Why? What’s your stance’s views on layoffs in the company. - Long-term wealth model o Ways in which profits should be generated, and once generated, put to use o Profits generated not to be made at the expense of society or the environment and that they be productively reinvested for the benefit of the corporations stakeholders - Corporations obligations to society 1. Do not externalize costs onto society -Address and minimize the public costs they incur before they declare private profits 2. Do not deplete natural resources irretrievably -Preserve and renew resources so that they remain available for future generations - Why long term wealth model? Having demonstrated their worth in the marketplace, corporations’ technology and managerial innovations can transcend the life of the company to become part of society’s wealth-generating capabilities * strategies to downsizing Organizational redesign - repositioning employees, rearranging of job positions and responsibilities -If management allows, employees can offer creative alternatives to cut costs and increase productivity by this design. With different stakeholder groups, If you were running a company. A)give two options for each group B)Tell me which option you would choose and why. (1. Consumers and product safety: list two things and explain, 2. employees and discrimination I. Consumer and Product safety: 1. The Social Costs/Strict Liability - Manufacturer should pay cost of injuries due to defects in products, foreseen or unforeseen and despite exercise of due care - Matter of public policy - Injuries are externality that should be internalized Choose this one: Why? Because this view gives manufacturers incentive to work to prevent future accidents, most effective allocation of social costs associated with use of product. - Key Question: Did harm or injury result from a
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
defect of the product? 2. The contract view - - Firm offers a product with certain characteristics and consumer agrees to pay a certain price for the product with those characteristics - Both parties understand agreement and neither has been deceived or unduly influenced - Manufacturers duties - Comply with term of contract - Avoid misrepresentation -
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/06/2009 for the course BCOR 3010 taught by Professor None during the Fall '07 term at Colorado.

Page1 / 5

Ethics study guide - THIS WAS THE FINAL LAST YEARSOME DUDE TOLD US THE QUESTIONS AND WE ANSWERED THEM.BUT I STILL SOMEHOW GOT B ON FINAL LOL What

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online