Ethics Exam #1

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do unto others as you would have them do unto you

What is the golden rule?

universal ethics (deontological ethics)

actions that are taken out of duty and obligation to a purely moral ideal rather than based on the needs of the situation

business ethics

application of ethical standards to business situations and behavior

descriptive

approach to business ethics that is a documentation of what is happening

normative (perscriptive)

approach to business ethics that is a recommendation of what should happen

morality

collection of influences built up over a person's lifetime

code of ethics

company's written standards of ethical behavior that are designed to guide managers and employees in making the decisions and choices they face every day

virtue ethics

concept of living one's life according to a commitment to the achievement of a clear ideal

ethical relativism

concept that the traditions of one's society, one's personal opinions, and the circumstances of the present moment define one's ethical principles

utilitarianism

ethical choices that offer the greatest good for the greatest number of people

ends-based

ethical dilemma resolution principle that asks which decision would provide the greatest good for the greatest number of people

rules-based

ethical dilemma resolution that asks what would happen if everyone made the same decision as you

ethics

external standards that are provided by individuals, groups, or culture to which an individual belongs; manner by which one tries to live one's life according to a standard of right or wrong behavior

question of someone's personal integrity as demonstrated by behavior

individual ethics category that looks at ethics from an external rather than internal viewpoint

simple truth

individual ethics category that promotes simply "doing the right thing"; right or wrong or good and bad

rules of appropriate individual behavior

individual ethics category that says moral standards impact one's life on a daily basis

rules of appropriate behavior for a community or society

individual ethics category that says one's personal value system or moral standards must be brought into the world that is shared with other people who have either similar or very different value systems

ethical reasoning

looking at the information available while resolving an ethical dilemma; drawing conclusions based on that information in relation to one's own ethical standards

value conflicts

occur when one is presented with a situation that places one's value system in direct conflict with an action

morals

one's personal principles created and upheld by individuals themselves; developed and influenced by cultures or society

culture

particular set of attitudes, beliefs, and practices that characterize a group of individuals

moral standards

principles by which judgments are made about good and bad behavior and are based on religious beliefs, cultural beliefs, and philosophical beliefs

intrinsic value

quality by which a value is a good thing in itself, pursued for its own sake, whether anything comes from that pursuit or not; ex: happiness health and self respect

instrumental values

quality by which the pursuit of one value is a good way to reach another value, always derivative on the value of something else; ex: money

sleep-test ethics

resolution to ethical dilemmas by saying that individuals should rely on their personal insights, feelings, and instincts when facing a difficult problem

value system

set of personal principles formalized into a code of behavior

ethical dilemma

situations in which there is no obvious right or wrong decision, but rather a right or right answer

stakeholder

someone with a share or interest in the ethical operation of a business enterprise

personal value system

specific choices and responses to a situation by an individual

society

structured community of people bound together by similar traditions and customs

corporate governance

system by which business corporations are directed and controlled


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