Ch. 2 Flashcards
Business ethics
That constitutes as right or wrong behavior and the application of moral principles in a business context
Moral minimum
Minimum degree of ethical behavior expected of a business person which is usually defined as compliance with the law.
Stock buyback
Purchase of shares of a company’s own stock by that company on the open market
Stock options
Agreement that grants the owner the option to buy a given number of shares of stock at a set price, usually within a specific time period.
Ethical reasoning
Reasoning process in which an individual links his or her moral convictions or ethical standards to the particular situation at hand
Categorical imperative
An ethical guideline developed by Immanuel Kant under which an action is evaluated in terms of what would happen if everybody else in the same situation or category acted the same way
Ethics
Moral principles and values applied to social behavior
Police powers
Powers passed by the states to protect or promote public order, health, safety, morals and general welfare.
Commerce clause
The provision in Article 1 section 8 of the U.S. Constitution that gives congress the power to regulate interstate commerce.
A court of equity can issue a decree for specific performance which is…
An order to perform what was promised.
Substantive law
All laws that define, describe, regulate and create legal rights and obligations.
Procedural law
All laws that establish the methods of enforcing the rights established by substantive law.
Cyber law
Informal term used to refer to all laws governing electronic communications and transactions particularly those conducted via the Internet.
Civil law
The branch of law enforcement of all private or public rights, as opposed to criminal matters.
Civil law system
A system of law derived from roman law that is based in codified laws (rather than on case precedents)
Criminal law
The branch of law that defines and punishes wrongful actions committed against the public.
National law
Law that pertains to a particular nation (as opposed to international law)
International law
The law that governs relations among nations
Key difference between national and international law
Government authorities can enforce national law
Federal form of government
A system of government in which the states form a union and sovereign power is divided between central government and the member states.
Checks and balances
Allows each branch (executive, legislative, judicial) to limit the actions of the other two branches, thus preventing any one branch from exercising too much power.
Supremacy clause
The requirement in Article 6 of the U.S. Constitution that provides that the constitution, laws, and treaties of the U.S. Are the “supreme law of the land”.
Preemption
Doctrine under which certain federal laws preempt or take precedence over conflicting state or local laws.
Symbolic speech
Nonverbal expressions of speech which includes gestures, movements, and articles of clothing, is given substantial protection by the courts.
Compelling government interest
A test of constitutionality that requires the government to have convincing reasons for passing any law that restricts fundamental rights.
Filtering software
Computer program that is designed to block access to certain websites based on their content.
Establishment clause
Provision in the first amendment that prohibits government from establishing any state sponsored religion or enacting any law that promotes religion or favors one religion over another.
Free enterprise clause
Provision in the first amendment that prohibits the government from interfering with people’s religious practices.
Equal protection clause
Provision in the 14th amendment that requires state governments to treat similarly situated individuals in a similar manner.
The USA patriot act
Passed by congress after the events of 9/11 and reauthorized in 2006. Gives government officials increased authority to monitor internet activities.
Utilitarianism
Approach to ethical reasoning in which an action is evaluated in terms of its consequences for those whom it will affect.
Principle of rights
Belief that human beings have certain fundamental rights.
Conflicting rights
There are often conflicting rights and people may disagree on which rights are most important.
Cost-benefit analysis
Decision making technique that involves weighing the costs of a given action against the benefits of that action.
Corporate social responsibility
The idea that corporations can and should act ethically and be accountable to society for their actions.
