1) Explain the difference between teleological and deontological perspectives wi
ID: 452031 • Letter: 1
Question
1) Explain the difference between teleological and deontological perspectives with an emphasis on the utilitarian and Kantian theories. Suggest drawbacks and strengths of each view. Use examples to illustrate your positions.
2) Explain the Aristotlean view of ethics as well as his conceptualization of justice
3) What is Affirmative Action? What can be its possible drawbacks? Use examples to explain.
4) How do ethical issues arise at every level of the marketing matrix (the 4 Ps)? Explain with examples, preferably real-world examples.
5) Explain at least four types of ethical misconduct in financial transactions.
6) What is a hostile take over? Explain some measures (at least two) to prevent such takeovers.
7) Milton Friedman suggests that an emphasis on social responsibility would result in loss of shareholder value. Do you agree? Explain with appropriate justification
8) What are the different strategies that firms can use to engage in social responsibility?
9) What is ethical relativism and absolutism as related to international business? What are the solutions to this dilemma?
Explanation / Answer
Answer-1 The criticism against Kant’s theory is that it relies on subjective judgment. Kant’s theory judges what principles should be universalizable, which allows possibilities on being able to justify committing horrendous acts.
Answer-2 Aristotle’s view of virtues was made up of two types of virtues. One of them is moral virtues and the other is intellectual virtues. Aristotle’s virtues are different than Plato’s because in contrast to Plato’s view, Aristotle believed in order to attain a virtue, one must practice the virtue until it comes naturally to an individual.
Answer-3 Affirmative Action perpetuates societal inequalities by causing reverse discrimination hence creating a new inequality. Such programs assume that belonging to a racial minority and disadvantage in the workplace go hand in hand. Therefore organizations with Affirmative Action-oriented racial quotas do not actually contribute to the rectification of societal disadvantage as an upper-class African American applicant will be given preferential treatment in hiring to a similarly qualified or more highly qualified white American from a poorer socio-economic background on the basis of race.
Answer-4 The ethical issues are related to every level. The product that is made has to be made fit for the customers and sould use the utilitarian principle of thhics. The same if true for the otehr P of marketing also the same.
Answer-5 The four types of eithcal misconducts are:
1. Price fixing: Between the competitors in the business.
2. Insider tarding: using inside information for personal gains by the promotors.
3. Unjustifiable salaries to the higher level management like CEO.
4. Chasing short term profits from the investors money.
Answer-6 Hostile takeover is the phenomenon in which the the acquirer makes a bid to take all the assets of the business at a stipuleted price mentioned in the offer.
The hostile takeover can be prevented by:
1. Establishing the stock securities with the differential voting rights.
2. By establishing the ESOP for the employees. It ensures that the utmost faith for the company would be there for the company as teh employees are the stakeholders too.
Answer-7 No I dont agree with his point. The reason is for the creation of brand value the firm should make the society happy and pursue such acts that are rewarding for all the stakeholders of the business and not shareholders only.
Answer-8 The strategies are:
1. Involve the customers and get them motivatedf for the different cause you as a company have initiated and make them understand that as a company you are there forthem for a longet duration.
2. Use the social media as a platform to deliver wht you are as a company.
3. Make publicity with the help of some pubilcity agency.
Answer-9 Cultural relativism is the belief that the values and practices of the local area determine what is ethical. Moral absolutism is the belief that there are absolute truths that apply universally and that these truths are more important than local values. Sometimes, one society tries to impose their ethics on another society. This is particularly true in the international business arena. When this occurs, it is called ethical imperialism.
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