Question

(Environmental Concerns) Sana, the president of a company that makes paper, has an interest in the environment. She recently went to a seminar on environmental dangers and has decided to take steps to clean things up. She started at home and has now felt compelled to change things at work. Sana had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river. Her company has never been cited because it employs a very large number of people in the community, including the mayor's husband and the chief-of-police's brother. On her mission to clean things up. Sana has decided to go even further than the law requires and implement the very latest environmental protections. When she announced her plan, the chair of the company's board of directors, Jessica, had a meeting with Sana, Jessica told Sana to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees. Furthermore, Jessica told Sana that installing all the new equipment would result in higher prices for the company's paper product and could bankrupt the company because of foreign competition Jessica hinted that Sana could be fired if she persisted. Jessica suggested that Sana should just be concerned with a minimal standard of ethics. Sana decides to go forward with her plan to clean things up under the theory that she wants to treat others in the same manner that she wants to be treated. Under Sana's theory, if she did not understand the importance of the environmental improvements, she would want them to be thrust upon her. Which statement is true regarding meeting the minimal standard of business ethics suggested by Jessica? Decisions must be legal and decisions must also receive a majority vote of acceptance by employees. Decisions must meet the criteria of a follower of utilitarianism. Decisions must receive a majority vote of acceptance by employees. Decisions must meet the criteria of a follower of deontology. Decisions must be legal. Which of these would be a stakeholder in the above company? Future generations only The community only The community and shareholders only The shareholders only The community, shareholders, and future generations

Answer 1

1) (a) It is accurate to say that decisions must legal to the minimum ethical norm for business proposed by Jessica. 2) The corporation would have stakeholders in the community, stockholders, and future generations.

business morals: refers to a code of conduct for business that can help with decision-making.

Business's social responsibility refers to the standards that a community has for a company's behavior.

Values are uplifting abstractions that encapsulate person's belief in what is right and acceptable.

Stakeholders in a business include the owners, management, and employees.

The Golden Ruling says that we should behave toward others in a way that is compatible with how we would prefer to be treated in return

To know more about stakeholders click here

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