Chapter 2 Ethical Theory and Business
Chapter Two – Ethical Theory and Business
Review Questions
1. Describe ethical relativism and at least three philosophical challenges to this position.
2. Distinguish between utilitarian, deontological, and virtue-based approaches to ethics.
What are the strengths and weaknesses of each?
3. How are utilitarian ethics relevant to business? Explain at least three major challenges to
utilitarian ethics.
4. How does deontological ethics establish a connection between individual rights and the
nature of human beings?
5. Develop a list of virtues and vices. As a helpful way to begin, think about the pledge
offered by Boy Scouts and Girl Scouts that begins: “A scout is trustworthy, loyal,
helpful…” Are these various virtues unified in any way?
Chapter Two – Ethical Theory and Business
Discussion Questions
1. The United States has established a minimum wag law. Should there be a maximum wage
law?
2. What standards should be used to establish a fair wage? Are the standards for executives
different from those for hourly workers? What factors determine what someone deserves
for pay?
3. Should salary be tied to results such that an executive whose company loses money
should earn less than an executive whose company makes a profit?
4. Are large salaries more justified as incentives to produce beneficial consequences, or as
rewards for past accomplishments? Are there available alternatives to money that might
serve as incentives and rewards?
5. Can anyone ever make too much money for their own good?
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