CHAPTER REVIEW QUESTIONS
1. Describe ethical relativism and at least three philosophical challenges to this position.
2. Distinguish between utilitarian, principle-based, and virtue-based approaches to ethics. What are the strengths and weaknesses of each?
3. How are utilitarian ethics relevant to business? Explain at least three major challenges to utilitarian ethics.
4. How does principle-based ethics establish a connection between individ- ual rights and the nature of human beings?
5 . Develop a list of virtues and vices. As a helpful way to begin, think about the pledge offered by Boy Scouts and Girls Scouts that begins: “A scout is trust- worthy, loyal, helpful. . . .” Are these various virtues unifi ed in any way?
Ethical Theory and Business 47
ENDNOTES
1 Fortune, June 25, 2001. This special report included the following articles: “The Great CEO Pay Heist” by Geoffrey Colvin (p. 64), “This Stuff Is Wrong” by Carol Loomis (p. 73), “The Amazing Stock Option Sleight of Hand” by Justin Fox (p. 86), and “CEO Pay: The Boss’ gains outstrips investors’ gains again. Did we Learn any- thing?” by Scott DeCarlo, Forbes , April 4, 2012.
