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Ethical Concepts

In: Business and Management

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Chapter 1 – Introduction and Ethical Concepts

2. Compare and contrast inductive and deductive reasoning in a business ethics context. Provide examples.
Inductive reasoning moves from specific details and observations (typically of nature) to the more general underlying principles or process that explains them (e.g., Newton's Law of Gravity). It is open-ended and exploratory, especially at the beginning. In the business ethics context, inductive reasoning is adjusting a course of action based upon a limited amount of information gathered. It is a process where one starts from a specific experience and draws inferences (generalizations) from it. For example, a salesperson, by observing a potential customer's reaction to the sales presentation, may induce what the customer's needs and personality are and what should be said to obtain the sale.

In contrast, deductive reasoning typically moves from general truths to specific conclusions. It opens with an expansive explanation (statements known or believed to be true) and continues with predictions for specific observations supporting it. Deductive reasoning is narrow in nature and is concerned with testing or confirming a hypothesis. Deductive ethical reasoning provides a framework for the resolution of moral problems in business today. However, it is supported by very little experience and does not create a practical scheme, thus incapable of providing answers to specific moral problems. For example,

Chapter 2 – Plato
1. Does Plato’s Doctrine of the Forms have any relevance to the modern day business manager? Why or why not? Provide examples.

Well, Plato's idea of form was basically that there is constant Form which does not depend on the mind to know of it. Intelligence is to consider these forms and understand them as constant and timeless things apart from ourselves. Geometric shapes existed in the…...

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