Business Management - Question and Answer

Running Head: BUSINESS MANAGEMENT 1
BUSINESS MANAGEMENT

BUSINESS MANAGEMENT 2
Table of Contents
Question 1................................................................................................................................ 3
Question 2................................................................................................................................ 3
Question 3................................................................................................................................ 4
Question 4................................................................................................................................ 5
Question 5................................................................................................................................ 6
Question 6................................................................................................................................ 7
References............................................................................................................................... 8

BUSINESS MANAGEMENT 3
Question 1
Explain at least two reasons why complying with the law is not enough for a business to
be ethical?
Only complying with the law is not enough for a business ethical. The core reason lies in the
difference between ‘compliance’ and ‘ethical’. Compliance stands for what a business ‘must’
do. Whereas, ‘ethical’ stands for a business should do. For instance, here are a few reasons
why complying with the law is not enough for a business to be ethical.
1. One such reason can be that laws are not all encompassing. A business can be
following the laws but still be unprincipled and uncaring in nature.
2. Another reason can be that, the law is the same for everyone but every business is
different. Application of the same law in every business will lead to different
outcomes which in turn will affect the client base differently, adversely or positively.
Hence, it is the business’s moral duty to be ethical after complying with the law
(MacCallum, 2017).
Question 2
What is the difference between relativist and Universalist perspective on ethics?
The relativist ethical view and Universalist ethical view are two kinds of meta-ethical views
which aim on understanding the reason behind different ethical properties and judgments.
The Universalist perspective of ethics stands for the application of ethics to all individuals
despite their preferences, background, history or traits. Ethical universalism is more of an
idealistic approach whereas, the relativist perspective, views ethics more realistically and
explains why different cultures can view the same action in different manners (Arsalidou,
2018).