Existentialism and Contractarianism Essay

1) Read chapters champion through tierce of your textbook 2) discriminate and direct contrast the Existentialism and Contractarianism good rightfulnesssuit Compargon some(prenominal) existentialism and contractarianism frame controls be two of the three deontological frameworks outlined in chapter one(a). Deontological frameworks localize on the duty or arrangement in determining whether the bodily functions atomic number 18 properly or wrong. wrinkle Existentialism tensenesses on separate demeanor while contractarianism foc delectations on fellowship as a whole. Existentialism highlights that the plainly person who can determine pay and wrong is ground on the melt exclusivelyow of the person making the ratiocinations. As a result, duty is connected with actions content each respective(prenominal) determines the value of his/her actions. Contractarianism, or fond contract possible action, highlights that individuals agree to social contracts to be penis s indoors society. As a member of society, each individual agrees to trustworthy social norms. As a result, the set and norms ruined by society must be fair to all(prenominal)one who is a member of society.3)Compare and contrast Teleological, Deontological, and coalesce Frameworks Compare Teleological, Deontological, and Mixed frameworks are each foundational philosophies towards ethical take up.Contrast Teleological frameworks focus on the results of the conduct of the individual and the ramifications, positive and negative, resulting from the actions and conduct of individuals. Deontological frameworks focus on duty or responsibleness in determining whether the actions are right or wrong. Mixed frameworks combine theories from some(prenominal) teleological and deontological frameworks. Mixed framework system supports that through the seven manoeuver principles listed below, individuals develop a level of intuition that becomes corporal in their conclusiveness-making processes. The seven guiding principles perpetrate from twain the teleological and deontological frameworks. The seven guiding principles includeFidelity- ground on deontological surmisal and states that an individual of necessity to keep verbalised and implicit promises. Reparation- establish on deontological possibility and states that an individual must act on repairing the consequences for previous wrongful acts. Gratitude- based on deontological theory and states that an individual must be able to show gratitude for the kindness that others project given to him/her. Justice- based on deontological theory and states that an individual should try to see that whatsoever goods are fairly distributed. Beneficence- Based on teleological theory and states that an individual should focus on trying to improve the lives of others. Self-improvement- pulls from both deontological and teleological theories and states that an individual should improve oneself by focusing on virtue and intelligence. Noninjury- based on teleological theory and states that an individual should not cause both accidental injury to others.4)Compare and contract the guiding principles of the spherical short letter Standards Codex and the Mixed Framework principles. Compare Both the Mixed Framework and orbicular Business Standards Codex principles are standards that act to promote fairness and to interpret and prise ethical way. Contrast The Mixed framework principles focus on individuals, but the international Business Standards Codex principles focus on companies around the world.The mixed framework principles were outlined in the question above, but here(predicate) are brief definitions for each of the Global Business Standards CodexFiduciary Principle- individually officer and director of a guild has the legitimate obligation to act in the best touch of the stakeholders and other employees in spite of appearance the menage. Property Principle- based on the notion tha t e real employee should respect property as sound as the rights of the pick out goters of property. Reliability Principle- based on the belief that it is the employees responsibility to honor the commitments he or she makes to the tauten. transparence Principle- based on the belief that e really employee should conduct business in a truthful and open manner.It is expected that employees will not make decisions based on a personal matter. Dignity Principle- based on the belief that each employee needs to respect the dignity of all individuals fairness Principle- based on the belief that stakeholders who extradite a vested interest in the truehearted should be treated fairly. Citizenship Principle- based on the belief that e really employee should act as a responsible citizen in the community. reactivity Principle- based on the belief that employees bind a responsibility to respond to requests for training about the operations from the variant stakeholders.5)What are the four types of unintentional unethical behavior? Implicit Prejudice- occurs based on unconscious mind beliefs. Common examples include biases based on ethnic and gender differences. In-Group Favoritism- occurs when a decision maker forms a bias toward individuals in the same sort out as the decision maker. An Example would be if a stereotype favors employees who share the same political caller association.Actual or Potential Conflicts of Interest- occurs when in that location are personal benefits for making a decision that are not ready(prenominal) to others. Claiming Credit for Others Actions- occurs when the decision makers believe that they are above amount in their stock duties, responsibilities, and general intellect, which results in above average performance. An example would be when an individual group member feels that he/she contributed more than he/she actually did to the groups general performance.6)Briefly compare and contrast moral, immoral, and amoral manager s. Immoral manager- one who not only does not complaint how his/her decisions reach the stakeholders, but the actions are actively counter to what is the right and ethical intimacy to do. They focus on only their own goals and the goals of the high society and consider law requirements as constraints or barriers that are ignored when their collective actions are implemented. Amoral manager- one who would be considered ethically neutral.An amoral manager does not focus proactively on ethical issues nor does he/she try to advisedly go against the social and legal norms that are expected of the firm by society. The riskiness with an amoral manager is that because ethical considerations are not contemplated in the decision-making process, the manager may incidentally commit unethical acts and not ascertain the impact the decision had on various stakeholders. Moral managers- one who understands the importance and relevance of considering ethical issues when they are making deci sions. These managers not only meet the minimal legal standards, but similarly are proactive in presenting ethical leadership to the firms employees and other stakeholders.7)Define Corporate affectionate ResponsibilityCorporate responsibility is the obligation that companies have to develop and implement courses of action that aid in social issues that impact society. This term is utilise by corporations to hint several topics including legal responsibility, fiduciary duty, legitimacy, and kind donations.8)Define the c formerlypt of stakeholder as it applies to business morality Stakeholders are defined as any group that has a vested interest in the operations of the firm. Traditional stakeholders for a firm include employees, suppliers, shareholders, customers, the government, local communities, and society as a whole. Stakeholders have a vested interest in the firm therefore, they are greatly impact by the ethical behavior of the firm, including economical, legal, and envi ronmental c erstwhilerns.9)Read fount 7 on pages 265-283 of the textbook and answer questions 1, 2, and 3 on page 283 What are cookie blow reserves? Explain Enrons use of this concept. Cookie jar reserves are funds set aside by a firm to be used to adjust the monetary performance in any given point of time. The usage of the reserve is that it allows the firm to increase its financial performance by transferring the reserves into the occurrent period financial statements to sustain run across the financial performance of the firm. Enron is the perfect example of using these reserves because of two very favorable factors. The first is that Enron dealt in vast term energy contracts that are onerous to calculate a true market place value. As a result, Enron had the opportunity to bring into being all the years of the contract within a one-year window allowing them to curb the financial statements. This manipulation would only work if you have a co-operative external tender. David Duncan of Arthur Andersen was very accommodating to Enron in this manner and accept this type of aggressive accounting.Identify as many stakeholders as you can in this eluding. For each, explain how they were affected by the events contact the demise of Enron. Employees- the employees were devastated by the demise of Enron. non only did they lose their jobs, but to a fault for a vast majority of the employees all of their retirement funds were in Enron stock. They were not allowed to sell the stock during the quick flux so they ended up with about nothing in their retirement accounts at the end of Enron. Stockholders- The stockholders also were disadvantageously impacted by the demise of Enron. The free follow of the Enron stock until it was worthless than $1 ensured that the stockholder endured heavy losses in their Enron investment. Government- subsequently a sluggish start, the SEC became very involved in the operations of Enron.A number of top-level executives wer e tried by the arbitrator de bug outment as well as jillions of dollars recovered in restitution to dish pay for the losses endured by the employees and the stockholders. Suppliers- The suppliers also were left with little recourse once Enron went bankrupt. All the top priority secured creditors would pop the first chance to recover their coin from Enron. Unless the supplier was a secured creditor, they may have received very little from Enron once it declared bankruptcy. Local Community- The Houston community was severely impacted by the demise of Enron. not only was Houston a home for a number of Enron employees, but also the get wind of the city was negatively impacted by the demise of Enron. It also did not help that the professional baseball park was called Enron orbital cavity (it is now named after fruit juice producer, Minute Maid).Summarize the main points of this case in one succinct paragraph. The case is about greed in the highest order. The company from its orig in quickly focused on increasing market capitalization at any cost. Employees were selected based on how well they could play the game. The winners were rewarded handsomely and the losers were fired. The corporate subtlety was one in which it was Enron against the world and Enron kept on winning. However, like a fifth column horse, the true Enron was hollow inside. Once the stomach of cards collapsed, it was left to the stockholders and the employees to pick up the pieces.Update on Case (not part of the assignment)- In 2007, Credit Suisse paid $61.5 million, UBS concord to pay $115 million and Deutsche hope agreed to pay $25 million to settle litigation pertaining to their role in the Enron fraud. In January 2008, former lead auditor at Arthur Andersen, David Duncan, agreed to settled allegations filed by the SEC that he had violated securities law by signing audit reports that were dishonest and misleading. No fine was issued but Duncan was debar from appearing before the SEC as an accountant. In March 2008, Citigroup settled litigation claims against it for it actions during the Enron scandal for $1.66 billion.