University of Toronto Ethical Decision Making Questions

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Business Finance

University of Toronto

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Instructions - Students can use any source to support their answer. Please provide proper sourcing for any non-textbook or lecture slide citation. For textbook or lecture slides, please note the page or slide number the content is pulled from. Essentially, I want to know if you are pulling the content directly from the text or slides (which is ok). - Each answer will have a maximum word count of 500 words (approximately 1 page, single spaced, size 11 font). YOU CAN use point form or bullets to support your answer. - Please submit either a word document or a pdf. Please do not submit a ‘pages’ document. - Students can use images, tables, or graphics to support their answer. - Each question has an assigned weight which will be identified at the end of the question. Notes - As you will soon read, the questions require consideration of all elements of the course thus far. I encourage you to use multiple chapters from the text, live lecture content, external sources, or even recent media. I want you to display that you are understanding of the concepts being introduced and the appropriate usages of those concepts. - Remember, you are building points up from 0 as you answer these questions→ not losing points for not completing a rubric. Question 1 You are the co-owner and co-founder of a company. After completing your year-end bookkeeping, you find out that 3% of your projected profit has simply ‘disappeared’. After some investigatory accounting you deduce that it could only be your co-owner/co-founder who could have had stolen the money. You, however, do not have firm evidence that your partner was, in-fact, stealing the money. What do you do? Use at least two normative ethical theories to support your answer. Use the term ‘prism’ in the response in the correct context. Context: The Company has maintained a profit of 15% per year for the last 5 years. Prior to the 5 year mark, the company broke even. You and your partner split 2/3 of the company profits each year while the final 1/3 is re-invested back into the company. You are not overly wealthy, but you make a more than comfortable living to support your partner and two children. Your profit for the year in question is still 15% despite the lost 3% to perceived theft. Question 2 You are the President of the University of Windsor. Due to the COVID-19 pandemic, you and your leadership team have decided to move all classes in the upcoming Fall 2020 term to an online only delivery method. Identify 5 affected stakeholder groups, determine where each stakeholder would be located on the ‘Stakeholder Salience Model’ (Mitchel, 1997) (label the area they are located ex. Dominant stakeholder), justify why that stakeholder group would be in that area. Question 3 Explain the key theme or finding that Richard Wilkinson identifies in his TED Talk: How income inequality harms society? Explain the relationship Wilkinson discussed between Sweden and Japan? Question 4 (20 marks) You are the CEO for 3M. In the peak of the COVID-19 outbreak in North America, the President of the United States has just enacted the Defense Production Act. The act allows the President to ban the sale and distribution of 3M’s N95 masks to any other country in the World (despite 3M already having contracts with Canada and other countries and those countries being in dire need of the masks). You have just been informed that the President of the United States is expected to ban the sale and distribution of your N95 masks to any other countries besides the USA within the next 24 hours. Your task: Write a letter to the President of the United States outlining your stance on what your company (3M) would like to do. Justify your stance using content learned from the first 5 chapters of the text and lectures. Please use the Ethical Decision Making Model (Rest 1986) as a framework for your letter. Use the most appropriate content you have learned in this class to support your letter.
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Ethical Decision Making

Student’s First Name, Middle Initial(s), Last Name
Institutional Affiliation
Course Number and Name
Instructor’s Name and Title
Assignment Due Date

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Ethical Decision Making
Question 1
Dealing with ethical dilemmas can be problematic. It for this reason that Crane et al.
(2019) argues that there is no single ethical theory or approach that is more practicable when it
comes to dealing with situations that involve ethical dilemmas (Chapter 3, Slide, 33). Crane et al.
prescribe a prism of ethical theories; a variety of normative considerations to solve ethical
dilemmas (Chapter 3, Slide, 33). Going by the description of issues at play, it is apparent that no
single ethical approach can conclusively deal with the problem. It is important that underlying
issues likely to affect the appropriateness of the choice taken to be considered. This caution is
underscored by the fact that there is no conclusive evidence to link the alleged theft to the coowner.
In light of the issues in question, a pluralist approach may be more suitable for dealing
with the problem. Personal interest is one of the considerations that I will consider when
deciding the right course of action to take. Specifically, I will consider the consequence of the
action taken on my ability to earn a living and provide for my family (Crane et al., 2019, Chapter
3, slide 34). Personal interest consideration calls upon placing personal interest above everything
else. The second step towards arriving at most suitable decisions involves social consequences
consideration (Crane et al., 2019, Chapter 3, slide 34). The goal is to arrive at a decision that is
likely to increase the overall benefits to everyone affected.
Considering that there is no conclusive evidence to link the theft to my co-owner and the
likelihood false allegations is likely to have on the work environment, following egoism and
utilitarianism ethical guidelines seems more appropriate. Egoism ethical theory prescribes that an
action or decision should be deemed morally right if the consequences resulting from the action
are more favorable to an individual (Crane et al., 2019, Chapter 3, Slide 13). Since the goal of
egoism ethical perspective is to maximize personal interest, the best decision will encompass
investing the alleged theft and seeking compensation. On the other hand, utilitarianism ethics, the
right decision to be taken is the one that maximizes the benefits to the majority (Crane et al.,
2019, Chapter 3, Slide 14). Since the profit share has not been affected, and there is no evid...

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