Question
What are ethics?
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Question 2 of 22
What are “Business Ethics”?
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Question 3 of 22
What can occur as a result of unethical business practices?
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Question 4 of 22
What are the differences between ethical, moral, and legal decisions?
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Question 5 of 22
What is an example of a business exercising a moral decision?
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Question 6 of 22
How is a legal decision different than ethical and moral decisions?
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Question 7 of 22
What is an example of something being unethical but not illegal?
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Question 8 of 22
What is a dilemma?
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Question 9 of 22
What are “Ethical Dilemmas”?
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Question 10 of 22
Describe Mary Kay’s ethical dilemma.
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Question 11 of 22
What would you do if you were in Mary Kay's position?
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Question 12 of 22
What motivates ethical decisions?
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Question 13 of 22
What are the conditions that make an ethical dilemma?
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Question 14 of 22
What are “Ethical Principles”?
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Question 15 of 22
What are four common ethical principles that help ensure a consistent and disciplined approach to making good, ethical decisions?
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Question 16 of 22
What is “Integrity”?
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Question 17 of 22
What is “Trust”?
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Question 18 of 22
What is “Accountability”?
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Question 19 of 22
What is “Transparency”?
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Question 20 of 22
What are other examples of ethical principles?
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Question 21 of 22
What is the “rule of law”?
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Question 22 of 22
Use this text box to take any additional notes on the class discussion.
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Question 2 of 22
What are “Business Ethics”?
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Question 3 of 22
What can occur as a result of unethical business practices?
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Question 4 of 22
What are the differences between ethical, moral, and legal decisions?
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Question 5 of 22
What is an example of a business exercising a moral decision?
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Question 6 of 22
How is a legal decision different than ethical and moral decisions?
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Question 7 of 22
What is an example of something being unethical but not illegal?
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Question 8 of 22
What is a dilemma?
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Question 9 of 22
What are “Ethical Dilemmas”?
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Question 10 of 22
Describe Mary Kay’s ethical dilemma.
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Question 11 of 22
What would you do if you were in Mary Kay's position?
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Question 12 of 22
What motivates ethical decisions?
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Question 13 of 22
What are the conditions that make an ethical dilemma?
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Question 14 of 22
What are “Ethical Principles”?
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Question 15 of 22
What are four common ethical principles that help ensure a consistent and disciplined approach to making good, ethical decisions?
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Question 16 of 22
What is “Integrity”?
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Question 17 of 22
What is “Trust”?
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Question 18 of 22
What is “Accountability”?
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Question 19 of 22
What is “Transparency”?
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Question 20 of 22
What are other examples of ethical principles?
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Question 21 of 22
What is the “rule of law”?
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Question 22 of 22
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Answers
GPT-4o mini
Sure! Here are answers to your questions based on common concepts in ethics and business ethics:
**Question 1: What are ethics?**
Ethics refers to a set of principles or moral values that guide individuals in determining what is right or wrong in behavior and decision-making. It encompasses ideas about fairness, justice, and the distinction between right and wrong conduct.
**Question 2: What are “Business Ethics”?**
Business ethics are the principles and standards that guide behavior within the world of business. These ethics apply to every aspect of a company’s operations, from the treatment of employees and suppliers to the impact on communities and the environment, and they help businesses navigate issues like corporate governance, internal policies, and stakeholder relations.
**Question 3: What can occur as a result of unethical business practices?**
Unethical business practices can lead to a variety of negative outcomes, such as loss of reputation, legal penalties, financial loss, decreased employee morale, loss of customer trust, and potential boycotts or protests. Long-term consequences may include business failure and damage to overall industry standards.
**Question 4: What are the differences between ethical, moral, and legal decisions?**
Ethical decisions are based on established principles governing behavior, moral decisions are rooted in personal beliefs about right and wrong, and legal decisions are based on laws and regulations. While there's overlap, an action can be ethical but not legal, or legal but not ethical.
**Question 5: What is an example of a business exercising a moral decision?**
An example of a business exercising a moral decision might be a company choosing to pay its employees a living wage rather than the minimum wage, despite the latter being legal. This action reflects a commitment to fairness and equality over mere compliance with the law.
**Question 6: How is a legal decision different than ethical and moral decisions?**
Legal decisions are dictated by laws and regulations established by governing bodies, and these laws must be followed regardless of personal or organizational beliefs. In contrast, ethical and moral decisions may vary based on personal beliefs and societal norms, and may not always align with legal requirements.
**Question 7: What is an example of something being unethical but not illegal?**
An example could be a company engaging in deceptive advertising practices. While it may not be illegal, it can be considered unethical as it misleads consumers and undermines trust.
**Question 8: What is a dilemma?**
A dilemma is a situation in which a person faces a difficult choice between two or more conflicting options, each of which may be undesirable or carry significant consequences.
**Question 9: What are “Ethical Dilemmas”?**
Ethical dilemmas occur when a person must choose between two or more conflicting ethical principles, leading to a situation where adhering to one principle may contravene another.
**Question 10: Describe Mary Kay’s ethical dilemma.**
As I don't have specific details on "Mary Kay's ethical dilemma," I'll provide a general scenario: Mary Kay Ash, the founder of Mary Kay Cosmetics, may have faced dilemmas such as deciding whether to prioritize profit margins while cutting costs (potentially at the expense of ethical labor practices) or investing in sustainable practices that could harm profits in the short term.
**Question 11: What would you do if you were in Mary Kay's position?**
If I were in Mary Kay's position, I would strive to uphold ethical standards by focusing on sustainable practices and equitable treatment of employees and suppliers. I would seek to balance financial well-being with a commitment to social responsibility.
**Question 12: What motivates ethical decisions?**
Motivations for ethical decisions include personal values, organizational culture, social and community norms, legal obligations, and the desire to maintain integrity and reputation.
**Question 13: What are the conditions that make an ethical dilemma?**
Conditions that create an ethical dilemma typically include conflicting values or principles, significant consequences associated with chosen actions, limited options, and the need for a decision.
**Question 14: What are “Ethical Principles”?**
Ethical principles are the foundational values and beliefs that guide behavior and decision-making in ethical contexts. They serve as benchmarks for evaluating actions and determining what is considered right and wrong.
**Question 15: What are four common ethical principles that help ensure a consistent and disciplined approach to making good, ethical decisions?**
1. Honesty: Commitment to truthfulness in actions and communications.
2. Fairness: Ensuring equity and justice in treatment and decision-making.
3. Respect: Acknowledging the dignity of all individuals and valuing their perspectives.
4. Responsibility: Being accountable for one’s actions and their consequences.
**Question 16: What is “Integrity”?**
Integrity is the quality of being honest and having strong moral principles. It involves consistency in actions, values, methods, measures, and principles, representing a commitment to ethical behavior.
**Question 17: What is “Trust”?**
Trust is the belief in the reliability, truth, ability, or strength of someone or something. In a business context, trust is crucial for building and maintaining relationships with employees, customers, and stakeholders.
**Question 18: What is “Accountability”?**
Accountability is the acknowledgment and assumption of responsibility for actions, decisions, and their consequences. It includes being answerable to others and maintaining a commitment to ethical standards.
**Question 19: What is “Transparency”?**
Transparency refers to the openness and clarity with which organizations communicate their practices, decisions, and policies. It involves providing stakeholders with accessible information, fostering trust, and promoting accountability.
**Question 20: What are other examples of ethical principles?**
Other examples of ethical principles include:
- Benevolence: The commitment to do good and promote well-being.
- Loyalty: Being faithful to commitments and relationships.
- Justice: Ensuring equality and fairness in treatment and opportunities.
- Sustainability: The responsibility to protect the environment and future generations.
**Question 21: What is the “rule of law”?**
The rule of law is the principle that all individuals and institutions are accountable to the law, which is fairly applied and enforced. It ensures justice, protects rights, and limits arbitrary power.
**Question 22: Use this text box to take any additional notes on the class discussion.**
(Note: This is a personal space for you to add any relevant thoughts, summaries, or reflections from class discussions related to ethics and business ethics.)
Feel free to adjust any of the answers according to specific course content or expectations!
**Question 1: What are ethics?**
Ethics refers to a set of principles or moral values that guide individuals in determining what is right or wrong in behavior and decision-making. It encompasses ideas about fairness, justice, and the distinction between right and wrong conduct.
**Question 2: What are “Business Ethics”?**
Business ethics are the principles and standards that guide behavior within the world of business. These ethics apply to every aspect of a company’s operations, from the treatment of employees and suppliers to the impact on communities and the environment, and they help businesses navigate issues like corporate governance, internal policies, and stakeholder relations.
**Question 3: What can occur as a result of unethical business practices?**
Unethical business practices can lead to a variety of negative outcomes, such as loss of reputation, legal penalties, financial loss, decreased employee morale, loss of customer trust, and potential boycotts or protests. Long-term consequences may include business failure and damage to overall industry standards.
**Question 4: What are the differences between ethical, moral, and legal decisions?**
Ethical decisions are based on established principles governing behavior, moral decisions are rooted in personal beliefs about right and wrong, and legal decisions are based on laws and regulations. While there's overlap, an action can be ethical but not legal, or legal but not ethical.
**Question 5: What is an example of a business exercising a moral decision?**
An example of a business exercising a moral decision might be a company choosing to pay its employees a living wage rather than the minimum wage, despite the latter being legal. This action reflects a commitment to fairness and equality over mere compliance with the law.
**Question 6: How is a legal decision different than ethical and moral decisions?**
Legal decisions are dictated by laws and regulations established by governing bodies, and these laws must be followed regardless of personal or organizational beliefs. In contrast, ethical and moral decisions may vary based on personal beliefs and societal norms, and may not always align with legal requirements.
**Question 7: What is an example of something being unethical but not illegal?**
An example could be a company engaging in deceptive advertising practices. While it may not be illegal, it can be considered unethical as it misleads consumers and undermines trust.
**Question 8: What is a dilemma?**
A dilemma is a situation in which a person faces a difficult choice between two or more conflicting options, each of which may be undesirable or carry significant consequences.
**Question 9: What are “Ethical Dilemmas”?**
Ethical dilemmas occur when a person must choose between two or more conflicting ethical principles, leading to a situation where adhering to one principle may contravene another.
**Question 10: Describe Mary Kay’s ethical dilemma.**
As I don't have specific details on "Mary Kay's ethical dilemma," I'll provide a general scenario: Mary Kay Ash, the founder of Mary Kay Cosmetics, may have faced dilemmas such as deciding whether to prioritize profit margins while cutting costs (potentially at the expense of ethical labor practices) or investing in sustainable practices that could harm profits in the short term.
**Question 11: What would you do if you were in Mary Kay's position?**
If I were in Mary Kay's position, I would strive to uphold ethical standards by focusing on sustainable practices and equitable treatment of employees and suppliers. I would seek to balance financial well-being with a commitment to social responsibility.
**Question 12: What motivates ethical decisions?**
Motivations for ethical decisions include personal values, organizational culture, social and community norms, legal obligations, and the desire to maintain integrity and reputation.
**Question 13: What are the conditions that make an ethical dilemma?**
Conditions that create an ethical dilemma typically include conflicting values or principles, significant consequences associated with chosen actions, limited options, and the need for a decision.
**Question 14: What are “Ethical Principles”?**
Ethical principles are the foundational values and beliefs that guide behavior and decision-making in ethical contexts. They serve as benchmarks for evaluating actions and determining what is considered right and wrong.
**Question 15: What are four common ethical principles that help ensure a consistent and disciplined approach to making good, ethical decisions?**
1. Honesty: Commitment to truthfulness in actions and communications.
2. Fairness: Ensuring equity and justice in treatment and decision-making.
3. Respect: Acknowledging the dignity of all individuals and valuing their perspectives.
4. Responsibility: Being accountable for one’s actions and their consequences.
**Question 16: What is “Integrity”?**
Integrity is the quality of being honest and having strong moral principles. It involves consistency in actions, values, methods, measures, and principles, representing a commitment to ethical behavior.
**Question 17: What is “Trust”?**
Trust is the belief in the reliability, truth, ability, or strength of someone or something. In a business context, trust is crucial for building and maintaining relationships with employees, customers, and stakeholders.
**Question 18: What is “Accountability”?**
Accountability is the acknowledgment and assumption of responsibility for actions, decisions, and their consequences. It includes being answerable to others and maintaining a commitment to ethical standards.
**Question 19: What is “Transparency”?**
Transparency refers to the openness and clarity with which organizations communicate their practices, decisions, and policies. It involves providing stakeholders with accessible information, fostering trust, and promoting accountability.
**Question 20: What are other examples of ethical principles?**
Other examples of ethical principles include:
- Benevolence: The commitment to do good and promote well-being.
- Loyalty: Being faithful to commitments and relationships.
- Justice: Ensuring equality and fairness in treatment and opportunities.
- Sustainability: The responsibility to protect the environment and future generations.
**Question 21: What is the “rule of law”?**
The rule of law is the principle that all individuals and institutions are accountable to the law, which is fairly applied and enforced. It ensures justice, protects rights, and limits arbitrary power.
**Question 22: Use this text box to take any additional notes on the class discussion.**
(Note: This is a personal space for you to add any relevant thoughts, summaries, or reflections from class discussions related to ethics and business ethics.)
Feel free to adjust any of the answers according to specific course content or expectations!