SMG SM 131 Study Guide - Midterm Guide: Samuel D. Waksal, Business Ethics, Token Money

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Kabrina Chang

Document Summary

Topics included: types of thinking, blind spots, how unethical are you, outsmart your own biases, why do good people do bad things, improving decision making by using ethical frameworks. 7. dan ariely: ted talk: how do business and ethics work together, failure to investigate gm, making principal decisions, peter drucker and albert carr, martha stewart, practice problems. System 1 thinking: based on intuition or emotion, quick, effortless: what you see is all there is . System 2 thinking: slower, more conscious, logical, and critical: what you see is not all there is . Being so committed to a goal that you overlook ethical lapses. Giving a business decision a super ceding value over a known ethical issue. Incentives that promote/ force individuals to take unethical decisions. Example: sears wanted to increase production and sales so their mechanics started overcharging and fixing things that weren"t broken because they were getting paid based on how much work they did.