Business Ethics Flashcards
Business Ethics
are the moral principles that act as guidelines for the way a business conducts itself and its transactions
Business
as a part of human society
interaction among institution and people
business should examine from the perspective of morality of actions and transactions
business ethics is part of human society
you cannot lived without business and everything is part of business
business is an interaction between instituition and people
communication
viewed and examine from the perspective of morality
implication of human conduct to business
nature of business
it is an old civilization
It is a part of human life
It is a complex enterprise that involves purchasing, manufacturing, marketing, advertising, selling and accounting
Businessman deals with supplier, customer, employeews and even competitors
importance of ethics in business
It creates common ground of understanding of what is good and bad in our human conduct. Without ethics what will happen?
Businessman sets their own standards, moral rules and moral principles.
Therefore, subjective morality comes in, wherein what is good for one is bad to others or vice versa
As business leaders, It needs profound examination of issues and problems regarding the flow of business activities
subjective morality
setting your own principle or standard
objective morality
common standard
myths about business ethics
M1- Ethics is a personal affair and not a public debatable matter
M2- Ethics and Business do not mix
M3- Ethics in Business is Relative
M4- Good Business means Good Ethics
M5- Business is a war
Relationship between Ethics and Business
Ethics plays a important role in business:
- Business is an integral part of human society. Therefore everyone is subjected to moral rules and moral valuation.
- What is legal may not necessarily be moral ( death penalty)
- Laws are insufficient. Ethics is inprinted in the heart of humanity
- Profits versus ethical consequences
- Business are not just created for profit, it also look into the interest of the common good.
the framework of moral reasoning
Step 1 Ethical issues/problem ( ex. Graft, sexual harassment, theft, bribery)
Step 2 reality check ( gravity of the offense, harm done, number of people affected)
Step 3 Moral Norm/company policy/ethicsl principles ( company rules, violation of rules)
Step 4 Moral judgement /decision/resolution (moral/immoral, legal/illegal)
the framework of moral reasoning
steps for us to have good decision making
characteristics of a good moral standard
1 One that looks the issue as something serious
2 It must be grounded on good moral arguments. A Good arguments is an arguments that always tell the truth
3 Should be objective not subjective
4 When violated, there is conscience.
requirements for good moral judgement
A good moral judgment must be logical
A good moral judgment must be based on facts and solid evidence
A good judgment must be based on sound and defensive moral principles
concept of moral responsibility
1 By nature, Man is a Rational Being. It means, man is capable of moral judgment.
2 Man id a Thinking Being. It means , man is aware of the consequences of his actions
3 Man is a Free Being, it means, man has the capacity to exercise his own choice
the disobedience made by Adam and Eve
Genesis 3: 1-13
Business Ethics as an applied branch of General Ethics
therefore it must be studied from the perspective of Philosophy.
the process of moral reasoning
involves the use of metaphysical terminologies and concepts in the light of philosophical abstraction.
philosophical background of business ethics
applies logical reasoning and moral standard
philosophical reasoning
guided by logical reasoning before making a decision
philosophy is interested with
reality
Human experience
It explains the ultimate cause of everything by the use of reason alone
Question/ inquiry
2 divisions of philosophy
Theoretical or speculative and practical philosophy
studies the truth to be known which is God, immortality, origin of universe
theoretical philosophy
cosmology
universe
ontology
deals with the nature of existence
metaphysics
studies the nature of the mind, the existence
phsychology
studies of human and animal behavior
theodicy
investigate the nature, being and the attributes of God
theory of knowlege
epistemology
studies truth to be acted upon which is ethics, logic etc.
practical philosophy
studies the meaning of words and its relation to other words
Semantics
axiology
studies values, origin types and characteristics.
aesthetic
beauty and perfection
correct inferential thinking
logic
investigate the nature of human act of human conduct
ethics
what is ethics?
Is a practical science of human act
Study of human conduct
It lays down the principles of right living
what is ethics and morality
Morality refers to the quality of goodness in a human act. Good as moral and bad as immoral.
Ethics studies the standards and judgments which people create
Ethics considered as ________ science because it is concerned with the study of norms of human conduct.
normative
descriptive ethics
studies the morality of the people. Comparison on the different values, principles, beliefs and practices.
study of human motivation
psychological egoism
it prescribe how people act ionside their culture
cultural relativism
meaning of the word
metaethics
The relationship of ethics to other sciences
Ethics/logic-doing follows thinking
Ethics/psychology- how man behaves/how man ought to behave
Ethics/sociology- social order/morasl order
Ethics/ecomonics- study of wages, labor production etc
Ethics/law- moral law/civil law
Ethics/religion- closely related. Goal of life must achieve happiness.
Ethics/etiquette
Ethics/education
Ethics/art
nature of human act
Free and voluntary
Acts done with knowledge and consent
Acts which are proper to man because of freewill
Conscious and under mans control
acts performed with full knowledge and full consent
perfect voluntariness
imperfect voluntariness
actions occur when there is no full knowledge and consent
actions that intended for its own sake
direct voluntary
actions that are not intended for its own sake
indirect voluntary
determinants of morality
The end of the action- purpose of the act
The end of the doer- motive
Circumstances of the act- who, what,where, how, when, why
actions having two effects
good effect - The action must be morally good in itself
evil effect
it is a practical judgment of reason deciding upon a individual act as good and to be followed or as evil and therefore be avoided
conscience
It reflects what the the thing is in accordance to its nature
natural law
he believes that the purpose is always good. A good act therefore is what befits the nature of man, and the bad is one that does not befits mans nature.
st thomas aquinas
agree sequitur esse
is ACTION follows being
St. Augustine
the divine reason or will of God commanding the natural order of things
st. thomas
divine wisdom directing all actions and movements
kantian ethics
- MORAL RATIONALISM- REASON IS AUTONOMOUS
- CATEGORIGAL IMPERATIVE- IT IS AN UNCONDITIONAL OBLIGATION.
_______ is “ the be all and end all” meaning, all truths and all knowledge are derived from human reason. Therefore, reason commands and we must obey it without questioning.
Reason in Kantian Ethics
Any man who tries to do good all the time is bound to come to ruin among the great number who are not good.
The Machiavellian Principle (Niccolo)
utilitarian ethics
puts emphasis and significance on the consequences as a result of an act and completely disregards the motive of an act.
it means that property tend to produce benefits, advantage, pleasure and happiness
utility
moral positivism
Behavior is good when it is in accordance with the law and evil if it is forbidden by the state
People are only interest is promoting their own interest.
It says that we are guide with the Divine Being
Divine Commanded Ethics
Ethical egoism -Ayn rand
It is the promotion of one’s own good
It focuses on the character of the person and the virtues he manifest
virtue ethics (medieval philosophers)
Epicurianism- epicurus
It deals with one’s own practical concerns
Pleasure is what good is and it is the ultimate goal of human life
Focuses on the idea and action
pragmatism
Teaching of Jesus, the ethics of Love, poor-oppressed, honestly, peace-reconciliation, sacrifice-suffering
christian ethics
The realities of pain in human life. It is intended to relieved suffering. The only cure is spiritual recourse.
Buddhism Siddartha Gautama
