Midterm Review Sheet

Midterm Review Sheet - Review Sheet Midterm Exam Cummins Ch...

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Review Sheet: Midterm Exam Cummins, Ch. 1: Ethics o Be able to define formalism and utilitarianism , such that you could identify examples of each. Formalism: Immanuel Kant’s theory of ethics, known as formalism, states that a moral person acts morally irrespective of the consequences, and not based on fear of punishment. He says a moral person acts on good will. Kant is credited for asserting that what is right is right, and what is wrong is wrong, and the judgment about what constitutes moral behavior is to be made without regard to the outcome of the moral decision—only with regard to the decision itself. Utilitarianism : was proposed by Jeremy Bentham and expounded by John Stuart Mill. Utilitarianism states that if the overall outcome is better for most people, it does not matter how you get there (to the outcome). “The ends justify the means”, meaning that the moral theory is tied to the outcome rather than the conduct. The greatest benefit for the greatest number of people is moral as defined by utilitarianism. Pinto fires and personal ethics, Dennis Gioia Brief summary: In the 60’s Gioia wanted to change the world of business so that it would serve societies interests. In the 60’s he was offered a job at Ford Motors CO. 1973 he became Fords Field Recall Coordinator 1970 Pinto introduced Production to inspection in 25 months (industry average 43 months) Production limits 2000: not to exceed 2,000 pounds in weight or 2,000 in cost In low speed rear end collisions fuel tank ruptured Not illegal and could be fixed by redesign but would cost money Ford assessed whether to redesign by establishing a cost – benefit analysis
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There were not very many cases or reports on the Pintos catching fire so Gioia didn’t see a problem associated with the car because the incidents were not of high frequency or of a cause directly traceable therefore unnecessary to recall o What is Gioia’s explanation for why he did not recall the Pinto? The Wal-Mart effect and a decent society: Who knew shopping was so important?, Charles Fishman o What is the point Fishman makes from the Vlasic Pickle case? In other words, why does he bring it up? Wal-Mart wanted to sell a gallon jar of pickles for $2.97, just to show consumers what Wal-Mart was all about: “always low prices.” In essence, Wal-Mart said to Vlasic “If you don’t supply the gallon jar of pickles for $2.97, we will end our partnership and stop carrying the Vlasic brand.” As Wal-Mart’s business was so important to Vlasic, Vlasic felt forced to provide the gallon at the $2.97 even though the price was too low. The reason Fishman brings this story up is to show that Wal-Mart will do whatever it takes to achieve the lowest prices—no matter the cost to the companies that supply them. The author also points out that the price of $2.97 was not market derived (derived by supply and demand), but was artificially created by Wal-Mart to secure the lowest price. o
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This note was uploaded on 04/07/2008 for the course MGMT 402 taught by Professor Split during the Spring '08 term at Arizona.

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Midterm Review Sheet - Review Sheet Midterm Exam Cummins Ch...

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