Business Ethics

Question 1

Normative Ethics

Answer 1

Deals with reasoning about how we should act.

Question 2

Descriptive Ethics

Answer 2

An account of how and why people act the way they do.

Question 3

Ethics

Answer 3

Application of morals.

Question 4

Values

Answer 4

Based on an individual’s beliefs that guide.

Question 5

Morals

Answer 5

Based on an individual’s values.

Question 6

Perpetual Differences

Answer 6

Can explain many ethical disagreements.

Question 7

Normative myopia

Answer 7

Shortsightedness about values.

Question 8

Inattentional Blindness

Answer 8

Failure to focus (focuses on one aspect and doesn’t see others).

Question 9

Change Blindness

Answer 9

Occurs when gradual change goes unnoticed.

Question 10

Moral Imagination

Answer 10

Ability to envision various alternative choices, consequences, resolutions, benefits, and harms.

Question 11

Utilitarianism

Answer 11

An ethical tradition that directs us to decide based on overall consequences of our acts.

Question 12

Principle-based framework

Answer 12

Directs us to act on the basis of moral principles such as respecting human rights, obey laws, rules, parents etc.

Question 13

Virtue Ethics

Answer 13

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).

Question 14

Consequentialist Approach

Answer 14

We should act in ways that produce better consequences than the alternatives.

Question 15

Principles

Answer 15

Ethical rules that put values into actions.

Question 16

Libertarian

Answer 16

Individual liberty is the most central element.

Question 17

Egalitarian

Answer 17

Equality is the most central element.

Question 18

Decision-Making Model

Answer 18

1. determine the facts
2. Identify ethical issues
3. Identify stakeholders
4. Consider alternatives
5. Compare and weigh alternatives
6. Make decision
7. Monitor and learn

Question 19

Social Ethics

Answer 19

The area of ethics concerned with how we should live together with others and how social organizations should be structured.

Question 20

Norms

Answer 20

Standards or guidelines that establish appropriate and proper behaviour.

Question 21

Ethical Values

Answer 21

Properties of life that contribute to human well-being and a life well lived. (ex. happiness, freedom etc).

Question 22

Risk Assessment

Answer 22

Process to identify potential events that may affect the entity and manage risk.

Question 23

Practical Reasoning

Answer 23

Involves reasoning about what one ought to do.

Question 24

Theoretical Reasoning

Answer 24

Reasoning that is aimed at establishing truth (what we ought to believe).

Question 25

Ethical Relativism

Answer 25

Holds that ethical values are relative to particular people, cultures, or times.

Question 26

Egoism

Answer 26

Holds that people act in self-interest.

Question 27

Categorical Imperatives

Answer 27

Command or duty without exception.