Business Ethics Now (Ch.1)

Intrinsic Value

The quality by which a value is a good thing in itself and is pursued for its own sake, whether anything comes from that pursuit or not

Applied ethics

The study of how ethical theories are put into practice

3 Ethical Theories

1.) Virtue Ethics 2.) Ethics for the greater good 3.) Universal Ethics

Arthur Dobrin's 8 Questions

1.) What are the facts? 2.) What can you guess about the facts you don't know? 3.) What do the facts mean? 4.) What does the problem look like through the eyes of the people involved? 5.) What will happen if you choose one thing rather than another? 6.) What do your feelings tell you? 7.) What will you think of yourself if you decide one thing or another? 8.) Can you explain and justify your decision to others?

Ethical Relativism

Concept that the traditions of your society, your personal opinions, and the circumstances of the present moment define your ethical principles

Virtue Ethics

A concept of living your life according to a commitment to the achievement of a clear ideal

Culture

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

Value System

A set of personal principles formalized into a code of behavior

Ethical Dilemma

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

Society

A structured community of people bound together by similar traditions and customs

Universal Ethics

Actions that are taken out of duty and obligation to a purely moral ideal rather than based on the needs of the situation, since the universal principles are seen to apply to everyone, everywhere, all the time

The Golden Rule

Do unto others as you would have them do unto you

Utilitarianism (also known as ethics for the greater good) - one of the ethical theories

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

Ethical Reasoning

Looking at the information available to us in resolving an ethical dilemma, and drawing conclusions based on that information in relation to our own ethical standards

Preconventional

Stage 1: obedience and punishment orientation Stage 2: individualism, instrumentalism, and exchange

Conventional

Stage 3: good boy/nice girl orientation Stage 4: law and order orientation

Postconventional

Stage 5: social contract legalistic orientation Stage 6: universal ethical principle orientation

Ethics

The manner by which we try to live our lives according to a standard of "right" or "wrong" behavior-in both how we think and behave toward others and how we would like them to think and behave towards us

Instrumental Value

The quality by which the pursuit of one value is a good way to reach another value. For example, money is valued for what it can buy rather than for itself

Kohlberg's 3 Levels of moral development

1.) preconventional 2.) conventional 3.) postconventional