Business Ethics Flashcards
Normative Ethics
Deals with reasoning about how we should act.
Descriptive Ethics
An account of how and why people act the way they do.
Ethics
Application of morals.
Values
Based on an individual’s beliefs that guide.
Morals
Based on an individual’s values.
Perpetual Differences
Can explain many ethical disagreements.
Normative myopia
Shortsightedness about values.
Inattentional Blindness
Failure to focus (focuses on one aspect and doesn’t see others).
Change Blindness
Occurs when gradual change goes unnoticed.
Moral Imagination
Ability to envision various alternative choices, consequences, resolutions, benefits, and harms.
Utilitarianism
An ethical tradition that directs us to decide based on overall consequences of our acts.
Principle-based framework
Directs us to act on the basis of moral principles such as respecting human rights, obey laws, rules, parents etc.
Virtue Ethics
Tells us to consider the moral character of individuals and how various character traits can contribute to, or obstruct a happy human life (individual based).
Consequentialist Approach
We should act in ways that produce better consequences than the alternatives.
Principles
Ethical rules that put values into actions.
Libertarian
Individual liberty is the most central element.
Egalitarian
Equality is the most central element.
Decision-Making Model
- determine the facts
- Identify ethical issues
- Identify stakeholders
- Consider alternatives
- Compare and weigh alternatives
- Make decision
- Monitor and learn
Social Ethics
The area of ethics concerned with how we should live together with others and how social organizations should be structured.
Norms
Standards or guidelines that establish appropriate and proper behaviour.
Ethical Values
Properties of life that contribute to human well-being and a life well lived. (ex. happiness, freedom etc).
Risk Assessment
Process to identify potential events that may affect the entity and manage risk.
Practical Reasoning
Involves reasoning about what one ought to do.
Theoretical Reasoning
Reasoning that is aimed at establishing truth (what we ought to believe).
