Business Law - Chapter 4

Utilitarianism

Outcome based ethics.

CSR

Corporate Social Responsibility - combines a commitment to good citizenship with a commitment to making ethical decisions, improving society, and minimizing environmental impact.

Kantian Ethics

Duty based ethics

Root cause of misconduct

SCANDAL

Principle of rights

belief that a key factor in determining whether a business decision is ethical is how that decision affects the rights of others

Moral Minimum

compliance with the law. people & entities merely comply w/T law, they are acting at the lowest ethical level society will tolerate

Stakeholders

groups affected by corporate decisions

Alternative definition of CSR

moral/ethical obligation of corporate citizens to their community. Not legal. Not law.