Consequentialism and Business Ethics Lecture by Professor Tim Kundro

These flashcards cover key concepts, definitions, and ethical dilemmas discussed in the lecture on consequentialism and business ethics.

What is consequentialism?

An approach to ethics arguing that only consequences are what makes something morally good or bad.

What does utility refer to in the context of consequentialism?

Desirable consequences.

What is the greatest happiness principle?

The action we ought to perform in a given situation is the one that promotes the greatest happiness for the greatest number of people.

What are the seven factors in the utilitarian calculus?

Intensity, Duration, Certainty, Propinquity, Fecundity, Purity, and Extent.

What is the difference between act utilitarianism and rule utilitarianism?

Act utilitarianism assesses individual actions for their immediate consequences, while rule utilitarianism assesses the general effects of actions when aggregated over time.

Who is Peter Singer and what does he argue regarding moral responsibility?

Peter Singer argues that proximity is irrelevant and that we ought to prevent bad events from occurring if it does not involve sacrificing anything of comparable moral importance.

What is the trolley problem?

A moral dilemma where one can choose to divert a tram from the main track, saving five people at the cost of one worker on another track.

What does the '1% Pledge' encourage individuals to do?

It encourages individuals to donate 1% of their income to highly effective nonprofit organizations to make a significant impact.

According to Jeffrey Sachs, what percentage of annual income from OECD countries could eliminate global poverty in twenty years?

0.7% of their annual income.

What is intensity in the context of utilitarian calculus?

Strength of the pleasure/pain

What is duration in the context of utilitarian calculus?

Length of time the pleasure/pain lasts

What is certainty in the context of utilitarian calculus?

Level of probability the pleasure/pain occurs

What is propinquity in the context of utilitarian calculus?

How soon the pleasure/pain will occur

What is fecundity in the context of utilitarian calculus?

Extent to which the pleasure will produce more pleasure

What is purity in the context of utilitarian calculus?

The pleasure does not cause concurrent pain

What is extent in the context of utilitarian calculus?

The number of sentiment beings affected by action