Chapter 1:
Questions for Discussion
1. Discuss why ethics is important in business.
• Business Ethics paves the way for a common understanding of the fundamental idea of what is good and what is bad in our human conduct. Without ethics, people will set their own moral standards which would result into a kind of subjective morality.
2. Refute the businessman’s myth that “ethics has no place at all in business.”
• Business is a social activity thus, being a social activity it should conform to the norms, rules and principles of this society. These standards are embedded in ethics.
3. Explain the phrase: “Not all that is legal is moral, but what is moral is worth legalizing.”
• An action may be legal but not necessarily moral. Ethics provides a clear distinction between morality and legality. Consider abortion- in some countries abortion is legal but in the Christian faith abortion is an immoral act.
4. Define Business Ethics. What is your own personal definition of Business Ethics?
• Business Ethics is the study of what is the right and wrong human behavior and conduct in business.
• For me, business ethics is putting a conscience in the science of profit making.

5. Explain the phrase: “Ethics is the unwritten law written in the hearts of men.”
• I interpret that as ethics has been a tried and tested guide of men in ages that have been handed down from one generation to another. These are actions that society consider as the proper action given a particular circumstance.
6. What is your personal view on profit-motive?
• Personally, profit making is not bad. I go by the tenet of giving Caesar what is due Caesar and God what is due God. In profit making it means giving the business person his due profit but also giving his customers their due in terms of quality of products and services and it should be commensurate to the product or service.
7. Do you agree with Milton Friedman that the only responsibility of business is to maximize profits? Why or why not? Discuss your answer.
• No, this is really a very simplistic view. I believe that a business entity has other responsibilities such as paying the correct taxes, giving quality products and services to its clients and sharing its fruits through CSR.
8. What is the Catholic Church’s stand on profit-motive?
• The church is not against profit -making. Pope Pius XI just reminds that “one should respect the laws of God, not prejudice the rights of others, and works according to faith and right reason.” (QA #136)

9. What is your concept of reasonable profit?
• This a hard question to answer. For me, it is about justice. If your profits take away food from another’s table then it is excessive.