BAET 20300 Study Guide - Final Guide: Moral Relativism, Logotherapy, Executive Compensation

• School: ND
• Department: Bus Admin - Ethics
• Course: BAET 20300
• Professor: Jessica Mc Manus Warnell

Document Summary

Course objectives: raise ethical awareness, improve ethical knowledge, improve ethical judgment. Libor scandal plot by multiple banks to manipulate interest rates for profit. Malden mills doing the right thing isn"t necessarily great for business. Ethical values serve end of human well-being. Model for ethical decision-making: understand facts, identify ethical issues involved, identify stakeholders and how they"ll be affected, explore alternatives, consider consequences, make principled decision. Ex. of aig bonuses and executive salary caps: executive compensation can be unethical, compensation may incentivize unethical behavior (selfish) Ethical theories= systematic answers to fundamental question of how humans should live their lives. Approaches: utilitarian amount of people (the greater good) even if it benefits greater good. Focused on consequences (the ends justify the means) Support any action that results in greatest satisfaction for greatest. Challenge: can hurt individual/minority if using them as the (cid:498)means(cid:499) May sacrifice good of individuals for overall good of mankind.