Class Notes 1-25 - Class Notes 1/25/12 CHAPTER 3 BUSINESS...

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Class Notes 1/25/12 CHAPTER 3 – BUSINESS ETHICS Short term profit maximization – A way for companies to show profit immediately to account for CEO’s large pay. Oxycotin needed to get their drug out, so they lied about it being addictive. Theories of Ethical Reasoning: 1. Categorical Imperative – Created by Kant People should decide how to act based on the consequences that would result if everyone acted in the same way. 2. Utilitarianism – Created by Jeremy Bentham An action is correct or morally right when it produces the greatest amount of good for the greatest amount of people. (Greater good theory). Example: Nike’s current factory is in the Oregon, would you move the factory to Vietnam or keep it in the Oregon? Vietnam is much cheaper with labor. It is not for the greater good to move to Vietnam, Nike eventually moved their plant to Vietnam and it hurt the economy. 3. Corporate Social Responsibility: a. Corporate Citizenship: Corporations should act as good corporate citizens and contribute
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Class Notes 1-25 - Class Notes 1/25/12 CHAPTER 3 BUSINESS...

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