3 Ethical Frameworks

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Question 1. Identify and define three ethical frameworks discussed by Halbert & Ingulli. Provide a detailed and documented example of a corporate executive using each of these frameworks.
1. Free Market Ethics: deals with the consideration of only shareholders and the profit for which they receive. (Halbert & Ingulli, 2008, pg. 10) In other words, the greed of the shareholders is only of concern and not the community in which the company stands.
2. Deontology Ethics: deals with the “respect for life, fairness, telling the truth, keeping promises – no matter the consequences.” (Halbert & Ingulli, 2008, pg. 14) It essentially goes with the belief that duty and rights come before the consequences of the action.
3. Virtue Ethics: deals with who …show more content…

Inadequate Capitalization: A corporation should have enough capital to run itself. (Maffei, 2011, pg. 112) The business that the corporation conducts should prove that it can sustain itself no matter what sector the business is in.
Question 4. Identify and discuss two major laws that are enforced by the Department of Labor.
a. The Family and Medical Leave Act (FMLA): this legislation entitles eligible employees of companies with 50 or more employees, to receive unpaid leave based upon adoption/birth/sickness of a child or sickness of the employee or person in their immediate family (i.e. spouse or parent) for up to 12 weeks. (United States Department of Labor, n.d.)
b. The Occupational Safety and Health Act (OSH): Employers are required to provide a safe and healthy work environment free from serious hazards to their employees. Employers must comply with the regulations and standards promoted by the Occupational Safety and Health Administration (OSHA). (United States Department of Labor, n.d.)
Question 5. Define and discuss three disadvantages of sole proprietorship, according to the assigned reading from the Missouri Bar Center.
a. The sole proprietor is personally liable for all debts of the business. Creditors can go after personal belongings to fulfill debts of the business. (Missouri Bar Center,

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