BUSINESS ETHICS MIDTERM STUDY GUIDE

CULTURAL ETHICS

The theory that moral doctrines are only the rules a community believes, and acting in a way that's ethically recommendable means learning and following those local guidelines.

MONETIZED UTILITARIANISM

The reduction of happiness and sadness to monetary values within a utilitarian ethics.

ORGANIZATIONAL WAGE LEVEL

The salary range a company sets for its employees, independent of the community wage level and wages as set by other, competing companies.

COMMUNITY WAGE LEVEL

The standard range of wages paid at a location, usually across a city or a region.

DESCRIPTIVE ETHICS

The study of what people actually do and why.

CULTURAL RELATIVISM

The suspicion that values and morality are culture specific and not the result of universal reason. They're what a community believes, and that's it.

LOYALTY

the quality of being loyal to someone or something.

DICTATORSHIP

A dictatorship is defined as an autocratic form of government in which the government is ruled by an individual, the dictator. Absolute authority in any sphere.

HIGH STRESS JOB

A job in which the anxiety of the workday consistently washes over into the employee's nonwork life.

VALUE TO THE ORGANIZATION

A measure of an employee's worth in terms of how much of the company's value and profit the employee generates.

ETERNAL RETURN OF THE SAME

A thought experiment in which you imagine what you would do if the life you chose to lead now will have to be repeated forever.

APPEARANCE OF A CONFLICT OF INTEREST

An appearance of conflict exists when a reasonable person will conclude from the circumstances that the employee's ability to perform his or her duties may be compromised by personal interest.

PROJECTED PERFORMANCE

An employee's work performance judged by predicting how well future, usually distinct, tasks will be accomplished.

CONSEQUENTIALISM

An ethics focused on the results of actions, not the actions themselves.

INTERNAL PUBLIC JOB ANNOUNCEMENTS

Announcing an open position only to individuals already closely linked to an organization.

MASS PUBLIC JOB ANNOUNCEMENTS

Announcing an open position widely and indiscriminately with the idea of maximizing knowledge of the available post and applications for it.

PRESTIGE

As a job-related value, the admiration others feel for you because of the work you do.

POWER

As part of a job, the ability to directly control or significantly influence others.

ARGUMENT

In business ethics, showing how, given the facts, one action serves specific values better than other actions.

VALUES

In business ethics, the priorities selected to guide decisions.

PERVERSE INCENTIVE

In the area of wages, a structure for determining salary increases that encourages work that is less effective, less efficient, or both.

NEPOTISM

In the case of hiring, announcing an open position only to members of the extended family.

ETHICS OF CARE

Making the nurturing of our immediate communities and the protecting of those closest to us the highest moral obligation.

ENVIORNMENTAL EXPLOITATION

Organizations damaging the environment with their operations while avoiding paying cleanup costs.

POSTMODERISM IN ETHICS

Postmodernism in ethics is the suspicion that no single ethical code is indisputably right.

APPLICANT SCREENING

Reducing a large pool of applicants to a manageable selection for serious consideration. Filters—for example, a certain educational level—eliminate inadequate applications rapidly.

IDEA APPROPRIATION

Taking ideas belonging to an organization and using them for your own benefit.

MANAGER'S DUTY TO THE ORGANIZATION

The manager's ethical responsibility to protect the interests of the organization.

SENIORITY

The measure of how long an employee has been laboring in an organization. With respect to salary, this measure converts to a place on the wage scale.

EGOISM

The belief that an action is morally right if the action's consequences are more beneficial than unfavorable for the person who acts.

DUTY TO FIDELITY

The duty to keep our promises and hold up our end of bargains

DUTY TO BENEFICENCE

The duty to promote others' welfare so far as it is possible and reasonable.

DUTY TO HONESTY

The duty to tell the truth and not leave anything important out.

DUTY TO GRATITUDE

The duty to thank and remember those who help us.

DUTY TO RESPECT OTHERS

The duty to treat others as valuable in themselves and not as tools for your own projects.

DUTY TO AVOID WRONGING OTHERS

The duty to treat others as you would like to be treated by them.

UTILITARIANISM

The ethical belief that an act is recommendable if it brings the greatest good to the greatest number, if it increases net happiness—or decreases net unhappiness—when everyone is taken into account.

CONCEPT OF COURAGE

The virtue of moderate boldness between the extremes of cowardice and rashness.

LEISURE TIMES

Time separated from work and its concerns.

IDEALISTIC UTILITARINAISM

Utilitarianism seeking to maximize sensations of happiness and pleasure connected with intellectual life and culture.

OBEDIENCE LOYALTY

Within the field of broad company loyalty, the feeling that the organization's existence and goals are far more valuable than the employee's welfare.

MEANINGFUL WORK

Work holding significance apart from the nine-to-five life and distinct from paying the bills.

KICKBACK

a percentage of income given to a person in a position of power or influence as payment for having made the income possible: usually considered improper or unethical.

FACT

a truth known by actual experience or observation; something known to be true:

ACTUAL CONFLICT OF INTEREST

is a situation occuring when an individual or organization is involved in multiple interests, one of which could possibly corrupt the motivation. The presence of a conflict of interest is independent of the occurrence of impropriety.

SABBATICALS

period of time during which someone does not work at his or her regular job and is able to rest, travel, do research, etc.