○ Our brains don’t see our own bias. It has a selective filter that screens information about the world. Not necessarily self serving like the SSB. ○ Stubborn view-point and will stick to that one view point. EX: politicians ● Sunk costs/ escalation of commitment ○ People throwing money at a deteriorating situation
○ The more we have invested in something, the more we will stick with it until the bitter end. ● The tangible and the abstract ○ Decision making is naturally impacted more by vivid, tangible, contemporaneous factors than by factors that are removed in time and space. People are moved by relatively minor injuries to their family, friends, and even pets than to the starvations of millions of people abroad. This perspective on decision making can cause problem that can cause ethical dimensions. ○ This makes a negative impact on ethics ○ Moral distance: the farther a person is located from the impact of the action, the easier it is to act immoral ○ Ingroup vs. Outgroup. We care more about our ingroup and things that hit closer to home. EX: People who don’t go to UT dont care if we lose the game. Doesn’t impact them. ● Time delay traps ○ People underestimate long term consequences ○ Immediate loss of revenue seems scary ● Loss aversion ○ People detest losses more than they enjoy gains ○ Endowment effect: we easily attach ourselves to things and value them much more than before we became attached ■ People will make decisions in order to protect their endowment ○ Interacts with framing to make a volatile situation Chapter 38: Focus on business organizations Business leaders should be responsible not only for their own individual actions, but also for those of their firms Employees will work for less for good corporate citizens, and work harder Customers are concerned with the ethics of the companies they purchase from Corporations that act more ethically tend to be more profitable New tech has greatly increased the chances of people and companies being caught for acting unethically Sarbanes-Oxley’s requirements for internal controls have made it easier to detect financial wrongdoing Antitrust laws, food and safety laws, adv regulations, securities regulations, consumer protection, environmental protection, anti corruption laws, equally important laws and workplace safety are examples of legislation triggered by corporate indifference to social concerns Corporations can not be moral agents with separate moral obligations Group dynamics -- groups of employees often behave differently than a single employee Chapter 1: Chapter 2:
● Two types of government: state and federal ● State Courts fall into three general categories: ○ Courts of limited jurisdiction ■ Ex: justice of the peace courts, traffic courts, probate courts ○ General trial courts ■ Courts of general jurisdiction - empowered to hear all cases except those assigned to limited jurisdiction courts ○ Appellate courts ■ Hear appeals from judgments entered by courts below ■
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- Spring '08