CH 7 - Ethics and Business Decision Making

Question 0

DUTY-BASED ETHICS (+ EXAMPLES)

Answer 0

Often derived from revealed truths:

• Religious ethical standards
• Kantian Ethics
• Principle of rights

Question 1

MORAL MINIMUM

Answer 1

Following the law, viewed as the least you should do

Question 2

CATEGORICAL IMPERATIVE

Answer 2

Ethical guideline “What if everybody (same situation/ category) acted the same way?”

Question 3

PRINCIPLE OF RIGHTS

Answer 3

Belief that human beings have certain fundamental rights. The ethic of an action depends on how it affects various groups

Question 4

OUTCOME-BASED ETHICS = UTILITARIANISM

Answer 4

Outcome oriented, focuses on the consequences of an action not on the nature

Question 5

OUTCOME-BASED ETHICS = COST-BENEFIT ANALYSIS

Answer 5

Decision making technique that involves weighing the costs of a given action against the benefits of that action

Question 6

CORPORATE SOCIAL RESPONSABILITY

Answer 6

Ethically and accountable to society