BUS 682 - Exam #1 Study Guide Here is a complete list of topics that might be covered on the first midterm exam. You should be able to define or explain terms or concepts, discuss their significance (explain why they matter), and to apply them to real world examples where appropriate. If there’s anything you don’t understand, be sure to ask (in class, ideally) before the exam. o Corporate Social Responsibility o Principal-Agent model of the firm. o Arguments for and against CSR. o How did corporations come to be treated as legally fictitious “persons”? o Some critics claim that if the corporation is indeed a person, it is a sociopath by nature. What are some of their arguments? o Business ethics o James Rest’s model of ethical decision-making – How/why do executives so often take unethical actions? (Explain: Recognition, Reasoning, Action). o Ethical reasoning: Utilitarianism, Virtue, Rights, Justice. Ethical egoism. Difficulties/problems applying each in the real world?
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