Ethics Exam #1
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
