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Study Guide:

Ch 8 & 9

· What is critical thinking?

· Understand critical thinking as a self-directed, self-disciplined, self-monitored and self-corrective process.

· To analyze thinking, what should you do?

· To evaluate or assess thinking, what should you do?

· To improve thinking, what should you do?

· The best critical thinker pays close attention to thinking by _?

· - Analyzing it

· - Evaluating it

· - Improving it

· Thinking critically, what must you do?

· -Examine your thinking and put it to test

· -Take your thinking apart, to see it as something constructed out of parts

· -Identify weaknesses, while recognizing the strengths

· -Creatively reconstruct your thinking to make it better, overcoming the natural tendency of the mind to be rigid

· Universal Intellectual Standards

· Three Kinds of Questions: Question of Fact; Question of Preference; Question of Judgment

· Socratic Thinking

· What are the attributes of critical thinkers?

· -Use theories to explain how the mind works

· -Then apply those theories to the way they live every day

· -CT have: Self-command of the principles of critical thinking; keep alive in the mind; and have continual engagement in everyday life

· What are the standards you should maintain as an effective critical thinker?

· - Become a critic of your thinking

· - Establish new habits of thought

· - Develop confidence in your ability to reason and figure things out

· - Apply intellectual standards to thinking

· - Focus on clarity, accuracy, precision, relevance, depth, breadth, logic, significance, and fairness (avoid sweeping statements that could lead to serious errors)

Ch 10

· What is ethics?

· Describe the ethical process

· What are the characteristics of the ethical process?

· What is the progression of the ethical process?

· What is ethical dilemma?

· What are the advantages and disadvantages of disagreements?

Ch 11

· How would ethics affect business decision making?

· What is economic interest?

· What is operational interest?

· At the business decision making level, ethics in business could affect __?

· - Individual; Organization; Business System

· Relate ethics, economics and law

· What role does ethics play in Management?

Ch 12

· What is the significance of corporate ethics?

· Why is a corporation viewed as a legal entity, but its leaders could be held responsible for their ethical decisions?

· Social responsibility is __?

· Corporate social responsibility is __?

· Identify the following terms relating to corporate governance:

· - Interested groups vs. Corporate goals

· - Stakeholders Theory

· - Property Rights and Social Institutions Theory

· - Contractual Theory

· - Agency Theory

· - Codes of Ethics

Ch 13

· International business is __?

· In what ways can ethics affect international business?

· Multinational Corporations (MNC) are - ?

· Explain the guidelines for MNCs

· What do you understand by the theory of absolutism and relativism?

· Identify and briefly explain some issues of concern in international business:

· - Wages and Working Conditions

· - What is a Justified Wage?

· - Foreign Bribery

· - Cultural Differences

· - Employment Practices

· - Consumer Protection

· - Environmental Protection

· - Political Payments and Involvement

· Identify and briefly explain some issues of concern in international business:

· - Wages and Working Conditions

· - What is a Justified Wage?

· - Foreign Bribery

· - Cultural Differences

· - Employment Practices

· - Consumer Protection

· - Environmental Protection

· - Political Payments and Involvement