Business Ethics - Chapter 1 The Nature of Morality

What is Conscience?

Evolved as we internalized the moral instructions of the parents or other authority figures who raised us as children.

What are the limitations of the professional codes of ethics

Not all rules of a professional code are purely moral in character, and even when they are, the fact that a rule is officially enshrined as part of the code of a profession does not guarantee that it is a sound moral principle.

What does morality in the broad sense mean?

Not just the principles of conduct that we embrace but also the values.

What are the positives of Ethical Relativism?

Those who endorse ethical relativism point to the apparent diversity of human values and the multiformity of moral codes to support their case.

What is an example of Ethical Relativism that there is no such thing as ethical progress?

We cannot say that moral standard are more enlightened than were moral standards in the middle Ages.

What are Unsound arguments?

they have at least one false premise.

What are the three limitations of Ethical relativism?

1. Ethical relativism has some unsatisfactory implications. 2. Closely related, is the fact that for the relativist there is no such thing as ethic progress. 3. The relativist's point of view, it makes no sense for people to criticize principles or practices accepted by their own society.

What is Ethics?

A broad field of inquiry that addresses a fundamental query that all of us, at least from time to time, inevitably think about. The study of right and wrong.

What is an example of Ethical relativism?

Abortion is condemned as immoral in Catholic Ireland but is practiced as a morally neutral form of birth control in Japan.

What is an example of Ethical Relativism has some unsatisfactory implications?

An example would be that we cannot say that slavery in a slave society like that of American South 175 years ago was immoral and unjust as long as that society held it to be morally permissible.

What are administrative regulations?

Boards or agencies whose functions include issuing detailed regulations covering certain kinds of conduct.

What are the differences of morality and law?

Breaking the law isn't always or necessarily immoral, and the legality of an action doesn't guarantee its morality.

What is Constitutional law?

Court rulings on the requirements of the Constitution and the constitutionality of legislation.

What is an example of an an action that is morally right but illegal?

Helping a Jewish family to hide from the Nazis was against German law in 1939, but it would have been morally admirable thing to have done.

How does being a member of an organization affects individual morality?

It can be affected by organizational norms which are rules by its members.

What are Statutes laws?

Laws that are enacted by legislative bodies.

What are Organizational Norms?

Rules by its members.

What is Adam Smith's view on capitalism?

Self interest and utility play an essential role in organizational decisions. Business practices tend to blend utilitarianism and egoism

What is the difference between morality and etiquette?

Something can be bad morally but good etiquette. Etiquette is based on the culture that you are in. An example of this is a long time ago when the culture in America thought that it was good etiquette for whites not to eat with blacks. Now we know that it was morally wrong to do that.

What is the Divine command theory?

That if something is wrong, then the only reason it is wrong is that God commands us not to do it.

What is common law?

The body of judge-made law.

What does Morality in a narrow sense mean?

The principles that do or should regulate people's conduct and relations with others.

What is Business ethics?

The study of what constitutes right and wrong, or good and bad, human conduct in a business context.

What is Ethical relativism?

The theory that what is right is determined by what a culture or society says is right.

What is the professional codes of ethics?

These are the rules that are supposed to govern the conduct of members of a given profession.

What are Moral standards?

They concern behavior that is of serious consequence to human welfare, that can profoundly injure or benefit people.

What are sound arguments?

They have true premises and valid reasoning.

What is the paradox of selfishness?

When an individual acts selfish die to their insufficiencies.

What are moral arguments?

arguments whose conclusions are moral judgments

What is Self-interest?

doing what would best satisfy your own interests.

What is groupthink?

pressure for unanimity within a highly cohesive group overwhelms its members' desire or ability to appraise the situation realistically and consider alternative course of action.

What does etiquette mean?

the norms of correct conduct in polite society or, more generally, to any special code of social behavior or courtesy.