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Gavin Walton
- July 19, 2024
Hello and welcome to the one and only ultimate guide on how to excel in your study.com Business 108: Business Ethics final proctored exam! Whether this is your first time tackling business ethics and your goal is to sail through it or you need an easy one-stop guide, you are in the right place. This specific course presents a rather engaging insight into the business ethics concept enabling one to grasp how generalized ethics function within companies and their effect on the societal and governmental framework. Also, it deals with making the world a better place – who in their right mind would have an issue with that?
As you may have an idea when reading the word “ethics”, it may seem a bit dull; however, this class is filled with case studies, group activities, and advice that has nothing in common with dullness. However, after reading this guide, you will be ready for the exam and successful passing of it is a guarantee. Well then, fasten your seat belt, take out your preferred study food, and let us begin this ethical adventure!
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What to Expect from Business 108 Class 📖
Okay, let me explain to you what is going to be included or offered in the Study.com Business 108: Business Ethics course. In this class, you will be equipped with detailed information that encompasses ways in which ethical issues are managed in commerce regions. It introduces the major ethical theories right from the structure, process, and implications of ethical theories to real bitterness of business decisions. They will cover ground as simple as ethical decision-making all the way to as complex as corporate social responsibility and business with reference to globalization.
As the name implies, the course is divided into 17 chapters; every one of which offers great lessons and knowledge. Ethics is going to be introduced from the ground up—starting with the introduction to various ethical theories, which will be followed by other topics that build on the knowledge of this topic. Prepare for such issues as ethics in business, business as an agent affecting the stakeholders, and business, government, and society interconnections. Spoiler alert: You should know that these topics are heavily covered in the exam, so please, make sure you pay close attention to them.
Later, you will be able to focus on narrowing processes such as public relations, diversity in organizations and staff, and ethical issues contingent upon technologies and globalization. This way, they’ll also get familiar with such topics as consumer relations, environmental concerns, and special interest groups. At the end of this course, you’d be in a good position to complete the final proctored exam of the business ethics course.
Actually, it is essential to emphasize that this class is not only about knowing or memorizing theories and concepts but about their application. The proctored final exam will contain questions that will aim at ascertaining whether you are capable of analyzing and evaluating ethical problems in business environments; therefore, do not tend to read only the surface of the material presented in this course. The lessons are there for you to follow, the quizzes are important and do not skip them, and do not hesitate to expand the explored section when something sparks your curiosity.
Week-by-Week Study Plan to Ace Business 108 Exam📝
Preparing for your Business Ethics exam requires systematic study and understanding of key concepts. Follow this week-by-week study plan to stay on track and excel in your coursework:
Week 1: Understanding Ethical Theories
Day 1-2: Begin with an overview of ethical theories such as deontology, consequentialism, and virtue ethics.
- Watch Introduction to Ethical Theories on YouTube.
- Read chapters 1-3 in your textbook.
Day 3-4: Dive deeper into each ethical theory, understanding its principles and applications.
- Use Quizlet to review key terms and concepts.
- Discuss with peers or join online forums for further clarification.
Day 5: Complete practice questions on ethical theories.
- Use Study.com quizzes to test your understanding.
Week 2: Corporate Social Responsibility (CSR) and Sustainability
Day 1-2: Study the concept of CSR and its importance in modern business ethics.
- Watch CSR Explained for a comprehensive overview.
- Read chapters 4-5 in your textbook.
Day 3-4: Analyze case studies on successful CSR initiatives and their impact.
- Explore real-world examples from companies like Patagonia or Ben & Jerry’s.
- Reflect on the ethical dilemmas and decisions faced by these companies.
Day 5: Review and summarize your learning on CSR.
- Create flashcards on Quizlet for quick revision.
Week 3: Ethical Decision-Making and Moral Dilemmas
Day 1-2: Learn about frameworks for ethical decision-making.
- Study the steps involved in ethical decision-making processes.
- Watch Ethical Decision Making Models.
Day 3-4: Practice applying ethical decision-making models to hypothetical scenarios.
- Use Study.com interactive scenarios to practice.
- Discuss case studies with classmates to gain different perspectives.
Day 5: Review and refine your understanding of moral dilemmas.
- Write a reflective essay on a moral dilemma you’ve encountered or researched.
Week 4: Global Business Ethics and Cultural Considerations
Day 1-2: Explore how ethics vary across cultures and global business environments.
- Watch Global Business Ethics Explained.
- Read chapters 12-14 in your textbook.
Day 3-4: Discuss the challenges of implementing ethical practices in multinational corporations.
- Research cultural dimensions and their impact on business ethics.
- Review case studies on ethical challenges in global business.
Day 5: Summarize your understanding of global business ethics.
- Prepare for the exam with a mock test on Study.com.
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Free External Resources to Study 📂
In as much as business ethics is an ever-evolving field, having access to a wide variety of learning resources will significantly improve your grasp of ethical theory, issues, and real-life situations. undefined:
∙ YouTube Channels and Playlists:
- CrashCourse Business Ethics: Engaging videos covering key concepts and theories in Business Ethics. Watch CrashCourse Business Ethics
- Khan Academy Business Ethics: Free educational videos exploring ethical dilemmas in business contexts. Explore Khan Academy Business Ethics
- Ted-Ed Business Ethics: Animated lessons on ethical theories and their applications in real-world scenarios. Visit Ted-Ed Business Ethics
∙ Quizlet Flashcards:
- Business Ethics Flashcards: Sets covering key terms and case studies in Business Ethics. Access Business Ethics Flashcards on Quizlet
- Ethical Theories Flashcards: Flashcards focusing on different ethical frameworks like utilitarianism and deontology. Explore Ethical Theories Flashcards on Quizlet
∙ OpenCourseware:
- MIT OpenCourseWare: Free course materials including lectures and readings on ethical decision-making in business. Access MIT OpenCourseWare on Business Ethics
- Coursera Business Ethics Courses: Online courses with video lectures and quizzes on corporate social responsibility and ethical leadership. Explore Coursera Business Ethics Courses
∙ Online Articles and Blogs:
- Harvard Business Review: Articles and case studies providing insights into ethical challenges in business. Read Harvard Business Review on Business Ethics
- Business Ethics Blog: Analysis and commentary on current issues in corporate ethics and governance. Visit Business Ethics Blog
∙ Podcasts:
- The Business Ethics Podcast: Interviews and discussions on ethical dilemmas and best practices in business. Listen to The Business Ethics Podcast
- TED Talks Business: Talks by thought leaders on ethics, innovation, and leadership in the business world. Explore TED Talks Business
Such resources as articles, case studies, and video material offer a rich secondary source of material to support your learning and develop a richer comprehension of the principles and realities of business ethics. That is why these external sources are helpful in the learning process of Business Ethics: Some people enjoy more graphic illustrations, others prefer such tools as articles or more discussions, and though it may be hard to believe, some people might even like interactivity.
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Key Topics to Focus On🔑
- Ethical Decision Making
Concept: Ethical decision-making therefore defines an organized way of making decisions after a moral analysis has been made of the likely actions. It encompasses being sensitive to the stakes that can be affected in the course of implementing a decision, obeying the values of ethical practice, and making a decision that reflects the right values like fairness, justice, and integrity among others. Ethical judgment as a challenge in managerial decision-making concerns leaders by putting them in a position where there is an ethical conflict that has different challenges on one hand and different solutions on the other.
Example: Suppose a drug manufacturer has come up with a drug that is used to treat a critical disease that has infected and affected many people in society today. Ethical decisions would, therefore, mean establishing a price that would ensure the company makes profits to its owners but which patients could afford to pay. There are issues of ethical responsibility focusing on the accessibility of this health commodity to patients, implications for consumers’ health, and organizational viability.
- Corporate Social Responsibility (CSR)
Concept: CSR is an organization’s responsibility towards sustaining the triple bottom line; economic, social, and ecological, over and above its legal requirements. CSR programs are generally based on environment conservation, improving social welfare, uplifting the standard of living of people in communities, and practicing proper labor relations. It is a process in which organizations encompass social and environmental issues in their operations and relations with others.
Example: The CSR programs of Starbucks are highly developed and quite versatile. The company has successfully adopted natural sourcing of coffee beans, buys beans from local growers through fair trade, and supports social causes like education and healthcare facilities. All these acts help in building and strengthening Starbucks’ corporate image and in establishing a good relationship with its stakeholders in the long run.
- Globalization and Ethics
Concept: Globalization is the integration of Global economies, and it transcends borders to join different standpoints of the world hence creating opportunities and ethical dilemmas for commercial organizations. Global ethics concerns itself with principles relating to respect for people’s rights, labor treatment, cultural sensitivity, and diversity. International businesses have to be ethical while conducting their businesses across the world to guarantee that they respond to the norms that prevail internationally and to help in the development of the world.
Example: The ethical decision of Nike was questioned regarding its responsibility for workers’ rights in its factories located overseas. Negative practices in the workplace and low salaries stimulated the company to start CSR initiatives aimed at the work conditions and the quality of the lives of the workers. Nike’s response shows how global companies are in the dilemma of functioning the supply chains and keeping ethical outlooks across various cultures besides the contrasting legal frameworks.
- Ethics in Marketing
Concept: Marketing ethics relates to truth, accuracy, and fairness in communication, particularly in the advertising and promotional strategies that are used to sell products or services. It covers the protection of consumers’ privacy rights, refraining from using deception in marketing practices and advertising and using proper techniques in persuading people to patronize their products or services. Ethical marketing is a marketing practice that seeks to ensure customer satisfaction, a company’s perceived and actual image and positively align organizations and their products with societal norms of good conduct.
Example: Ethical marketing is illustrated in this paper by a famous campaign called “Real Beauty” by the Dove Company. The campaign rejected the stereotypical beauty of thin young women of color that was common in most fashion magazines of the time. Finally, Dove focused on body positivity and self-esteem, and that was accepted by consumers, which contributed to maintaining the company’s integrity in the advertisement.
Comparison Table: Ethical Decision-Making vs. CSR
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Aspect
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Ethical Decision Making
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Corporate Social Responsibility (CSR)
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Definition
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Evaluating actions based on moral principles
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Commitment to operate ethically and contribute to society
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Focus
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Stakeholder impact, ethical standards
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Environmental sustainability, social justice
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Example
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Pharmaceutical pricing decisions
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Sustainable sourcing, community engagement
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Importance
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Balancing profitability with ethical considerations
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Going beyond profit to benefit society
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Comparison Table: Globalization and Ethics vs. Ethics in Marketing
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Aspect
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Globalization and Ethics
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Ethics in Marketing
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Challenge
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Respecting human rights globally
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Honest promotion, consumer privacy protection
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Example
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Nike's labor practices in developing countries
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Dove's "Real Beauty" campaign
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Focus
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Cultural diversity, environmental impact
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Inclusive advertising, promoting diversity
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These detailed explanations provide a comprehensive understanding of each key topic in business ethics, illustrating their significance and application in real-world scenarios.
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Frequently Asked Questions (FAQ)❓
Q: Why has business ethics been a subject of study among scholars and students?
A: Understanding business ethics becomes important as it makes it easier for a person to analyze difficult ethical decisions in business organizations. It is a guide that enables one to make sound business decisions while taking into account the pecuniary gains as well as the ethical dilemmas.
Q: In what way could business ethics influence the culture of the business organization?
A: Business ethics play an important role in the overall business culture since they provide guidelines for employees’ conduct, determine business values, and affect public opinion. Businesses that follow ethics are known to help create a good workplace culture that people would like to work in.
Q: In what ways does globalization influence business ethical systems?
A: Globalization compounds business ethics issues since companies are forced to operate in different cultures, legal requirements, and values within different countries. It presents a test to business organizations in their pursuit of maintaining good ethics both locally and internationally.
Q: With regard to the concept of ethical dilemmas, is it worthwhile to explore how such conflicts of interest can be solved in Business?
A: Some of the ethical issues can be solved through the application of ethical decision–making models including utilitarianism, deontology, and virtue. Companies may also have ethics committees or consult an attorney.
Q: This paper aims at answering the following question: What is the relevance of codes of ethics in organizations?
A: Policies and codes of ethics are always an important set of regulations that act as a direct reference for employees for ethically correct behavior within the course of performing work. They ensure uniformity in the manner in which decisions are made and also assist in eradicating ethical pitfalls.
Q: The following are the effects of unethical behavior in business:
A: Some of the consequences include legal consequences where the organization finds itself on the wrong side of the law, the company’s reputation is lowered, the customers do not trust the company, employees are dissatisfied and the company faces penalties. Long-term impact consists of lower profitability and limitations to the company’s development.
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Conclusion 📄
Therefore, Business 108: Business Ethics is not merely understanding legalities, but the groundwork for the moral conduct of businesses globally. Over this course, you have explored many significant issues such as ethical decision-making, globalization affecting the business world, and individual values in the organizational culture.
These concepts are important to learn not only for passing the tests but for handling endeavors in the thus envisaged environments of business. Thus, as you progress in your degree or in your profession, it’s important to emphasize that ethical issues are more than concepts to be discussed, but real-life situations that one needs to navigate.
This knowledge obtained from this course will help you to act professionally and rightly in your organization, enhance ethical principles, and make efficient decisions for your company and yourself.
Keep on learning, doubting, and experimenting with these concepts in your academic process and life. Ethics in business can be described as a component of compliance, but it is much more than that as it is a question of character, credibility, and longevity.
