Chapter 2 - Business Ethics
Golden Rule
Do under others as you would have them do to you. This is known as the _____.
Stakeholders
The _____ of a firm are the many groups of people affected by the firm's decisions.
Universalization
The _____ test asks, what would the world be like if our decision were copied by everyone else?
Public disclosure
The ______ test asks, if the public knew about this decision, how would we decide?
WPH Framework
The __________ for Business Ethics considers WHO a decision impacts, the PURPOSE of the decision, and HOW to make the decision.
Values
The basic unit of business ethics is _____.
Absolutism
This theory of business ethics asserts that individuals must defer to a set of rules to guide them through the ethical decision-making process.
Ethical Realism
This theory of business ethics denies the existence of objective standards. Individuals must evaluate actions based on what they feel is best for themselves.
Consequentialism
This theory of business ethics requires inquiry into the consequence of a decision when addressing ethical dilemmas.
Principle of Rights
This theory of business ethics says that a business decision is ethical or not based on how the decision affects all those involved.
Utilitarianism
This theory of business ethics says that managers should take actions that provide the greatest good after having subtracted any harm associated with the action.
Virtue Ethics
This theory of business ethics says the development of virtues, or positive character traits such as courage, justice, and truthfulness, is the basis for morality.
Ethics
We derive our _____ from the interplay of values.
Values
____ are positive notions that capture our sense of what is good or desirable.
Business ethics
_______ is the application of ethics to the special problems and opportunities experienced by business people. It includes decisions about production, competition, and social responsibility.