1.Relative ethics apply to mainly you and your family while universal ethics apply to everyone across
a broad spectrum of situations. Yes ethics should be relative. Because it very important what you do
right and what you do wrong.
2.An ethical dilemma is a decision that involves a conflict of values—a decision in which every potential
course of action has significant negative consequences. Here are 3 hypothetical examples:
In order to meet financial goals of your firm, you need to layoff one of three workers in your group, but all
three workers have been key contributors to the organization. What should you do?
The rules of your firm require that you report any co-workers who are rude to customers. You have just overheard
a co-worker yelling at a customer, but you’re convinced that the customer completely deserved it. What should you do?
The supplier you know and trust has just submitted a bid for ...view middle of the document...
The active leadership of senior management plays an especially strong role in creating and supporting
an ethical climate.
4.The need for social responsibility might conflict with the need to maximize profits in a number of situations.
For example, investing in pollution control equipment, paying foreign contractors a living wage, investing in the
local community, providing workers with top-notch health insurance can all be costly, which impacts profitability.
When social responsibility conflicts with profitability, firms should decide which path to pursue based on both their
values and objectives. They should also consider the potential long-term payoff from investments in social responsibility.
Socially responsible firms often benefit financially in terms of stronger sales and branding, stronger customer loyalty,
and higher employee retention rates.
5.Student opinions on this will differ, but they will probably all acknowledge that companies that help workers
establish a healthy work-life balance are likely to have more loyal, motivated employees and to have an easier time
recruiting the most talented workers. The trade-off, of course, is cost. Providing more work-life balance typically
requires an investment in expensive programs such as childcare, and it requires more tolerance of flexible work hours.
6.Four consumer rights:
The right to be safe
The right to be informed
The right to choose
The right to be heard
7. Planned obsolescence involves deliberately designing products to fail at a certain time in order to shorten the time
between consumer re-purchases. This represents a clear violation of social responsibility because it abuses consumer
trust and wastes consumer money. Long term, the market will typically weed out offenders, but that doesn’t do much to
help short term victims.
8. No system is perfect, but the most responsible firms establish codes of conduct for their vendors, setting clear
policies for human rights, wages, safety, and environment impact. They also monitor and enforce compliance,
proactively pulling contracts from serious violators and rejecting bids from suppliers who don’t meet their standards.