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EMBA 266 BUSINESS ETHICS AND CORPORATE GOVERNANCE MID-TERM EXAM ROBERT PAUL ELLENTUCK

1. Virtue Ethics requires the Board to look at itself, and determine what kind of company do we want to be? Will should be fired since his actions are not the kind of actions that the company wants its executives to be involved in. Not due to some hard and fast rule, but based on the character of the board (as actor) and the company. The kind of company that the board wishes to be seen as, and what they want to be able to think of themselves as, are the driving force in firing Will. Does the Board want to the world to be a place where behavior like Wills is tolerated, or do they want it to look like a place where such actions are not tolerated. This is not the kind of company that we want our company to be. We do not want to have behaviors such as Wills occurring. We do not want to perceive ourselves, nor have other perceive us as such a company. What is important is the effect this has on the Board, not the firing.

2. No. They have not breached the duty of care. They have been involved in the business decision, informing themselves. They have not breached the duty of loyalty, there was no self-dealing or. They have not breached good faith, since they have not been inattentive. While the 20 minute discussion was quick, they had all previously drafted memos on the topic showing their involvement. The directors must breach one of four specific situations for financial liability Breach of duty of loyalty, breach of good faith, breaches under section 174, and any acts deriving personal benefit.

3. The statement fails to consider the impact on others. A decision may promote virtue of decision maker, but may harm others. No consideration is given to the consequences of the action (consequentialism). You can promote your own virtue, but cause others harm. Also fails to consider rights ethics, an act can be illegal though promote decision makers virtue, and can also be immoral.

By not considering the impact of ethical decision, ignoring the action itself, and the outcome, the individual decision maker may promote their virtue at the expense of others. Does not consider what is done to other people, only the decision maker.