Business etthics Essay Example

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Studies show that people hate losses twice as much as they enjoy gains? Is that consistent with your experience?

This is absolutely consistent with some of the experiences I have faced. For instance, every time I failed in my exams, the frustrations seemed to be too overwhelming even to be handled. Quite often, it will seem to affect other activities I am supposed to undertake in my life. On the other extreme, every time I performed extremely well in academics, I somehow treated as normal. I had this feeling that succeeding is something inbuilt and therefore no surprises when I excel.

Have you ever been caught off guard doing something you probably shouldn’t have been doing (eating the last cookie in the cookie jar, peeking in someone’s diary, touching your mother’s jewelry) and when surprised with the question: «What are you doing?», quickly and almost automatically (and falsely) said: «Nothing!»

Yes, on several occasions. I realized I would say no before I retract that statement and admit that indeed I was having a bite from the forbidden snack. In most scenarios where I am caught off guard, I find myself admitting almost instantaneously after denying. I find this to be common not just in my life, but in many other people especially age mates.

A recent study found that when people were under time pressure, they were more willing to cheat to avoid losses («losing the sale») than to accrue gains («getting the sale»). Do you think that is how you would react?

Quite often, business people are concerned with the reputational effect that losses have on their businesses. Nevertheless, to me I believe gains and losses have proportional effect on the business and it might be hard to differentiate either. Losses will have to be hated and gains loved in equal measure.

Can you think of any situations where you or someone you know may have made decisions affected by loss aversion?

I have seen teenagers who have gone through early pregnancies and the greatest risk they take is to undergo abortion. This shows that they are doing anything possible to conceal the loss from parents as well as their male counterparts.

What steps can people take to minimize the chance that loss aversion will help lead them to act unethically?

I believe people ought to regulate their ego in order to ensure that it is not driving them into making stupid mistakes.

Activity 12

Name some abilities that are essential for someone to be a moral agent.

There are so many features that define moral agents. One is the ability to reason or engage their brains. This is very critical in order for the person to have influence over a situation or a certain element. They must also be living in a society which means there are other living organisms. In addition, they must have the freedom to act in any given situation. This will also make it possible for them to exert dominance. In the same way, they must have some moral principles.

What is necessary for someone to be a subject of moral worth?

A subject of moral worth refers to any individual that is capable of being harmed or inflicted some kind of suffering. These do not necessarily need to be living organisms because even natural resources like water have been found to be subjects of moral worth. They must exhibit the ability to be manipulated or be harmed in some way.

What is the difference between someone being a subject of moral worth and someone being included in the moral community?

An individual who is considered a subject of moral worth is any element or organism that is capable of being harmed. On the other hand, someone being included in the moral community can either be a moral agent or moral subject.

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