Senior Secondary (HKDSE) · Ethics and Religious Studies
5 multiple-choice questions marked as you go, and 3 written questions with worked solutions. All on Business and Economic Ethics .
An advertisement for a luxury car emphasizes the social status and perceived success associated with owning the vehicle, rather than its practical features or environmental impact. While effective in driving sales, critics argue that such advertising fosters a culture of materialism and social comparison. Which of the following best describes a negative ethical effect of this type of advertising?
A large multinational electronics company sources components from a global supply chain where the supplier factory mandates excessive overtime (70+ hours per week) and pays workers the minimum statutory wage, which is significantly below the local living wage. The electronics company justifies this arrangement by arguing that their purchase orders stimulate the regional economy, providing jobs that, while poorly paid, are better than no jobs at all (an appeal to consequentialist outcome).
Which of the following ethical frameworks or principles presents the most profound challenge to the multinational company's justification?
A multinational corporation decides to relocate its manufacturing facilities to a country with lower labor costs and weaker environmental regulations. While this move significantly boosts shareholder profits, it leads to job losses in the home country and increased pollution in the host country. From a perspective of corporate social responsibility, which of the following stakeholders' interests are most likely being neglected?
A multinational coffee corporation pays its farmers a 'Fair Trade' premium that is \( 20\% \) above the global market price, even though current market prices are very low due to oversupply. This practice is most consistent with which ethical approach to business policies?
A company chooses to use cheaper, non-recyclable packaging to maximize short-term profits for its owners, even though this decision significantly increases the long-term waste management costs for the local community. This decision-making process primarily prioritizes ______ over ______.
Identify three main stakeholders that a corporation has ethical obligations toward, besides its shareholders, when considering its Social responsibility within Business and Economic Ethics.
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A large manufacturing corporation, AlphaCo, faces pressure from environmental groups to invest heavily in pollution control technology. This investment would significantly reduce environmental harm to the local community but also cut into the company's profit margin and potentially lead to local layoffs.
(a) Explain the ethical conflict arising from the corporation's primary profit motive versus its social responsibility in this situation. Use the concept of utilitarian consequences in your explanation.
(b) Identify three distinct categories of AlphaCo's stakeholders (e.g., consumers, community, shareholders) in this scenario, and briefly outline the primary obligation the corporation owes to each one regarding the decision to implement pollution control measures.
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The concept of Social Responsibility of Corporations often creates a tension between the "profit motive" and the interests of various stakeholders. A multinational tech company discovers that one of its primary rare-earth mineral suppliers in a developing nation uses child labor and provides unsafe working conditions. Switching to a certified "fair trade" supplier would increase production costs by \( 15\% \), potentially lowering the company's annual dividends for shareholders.
(a) Define social responsibility in the context of business and identify three specific stakeholders the company must consider in this dilemma.
(b) Evaluate this situation from the perspective of justice/fairness/equality. Specifically, explain how the "profit motive" might conflict with the principle of just treatment for workers in the global supply chain.
(c) Suggest one way the company could balance its obligations to shareholders with its ethical responsibility to the community.
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