CHAP Flashcards
Can be defined broadly as a set of moral principles or values thar govern the actions and decisions of an individual or group
Ethics
____________________ vary from individual to individual at any point in time
Personal Ethics
(T or F) Most people within a society are able to agree about what is considered ethical and unethical behavior
True
Each of us has such a set of
Values
It is common for people to differ in their
Moral principles or values
Characteristics and Values Associated with Ethical Behavior
Integrity
Honesty
Trustworthiness and Promise Keeping
Loyalty and Confidentiality
Fairness and Openness
Caring for Others
Respect for Others
Responsible Citizenship
Pursuit of Excellence
Accountability
Is necessary for a society to function in an orderly manner
Ethical Behavior
Is the glue that holds a society together
Ethics
Many commonly held ethical values are incorporated into
Laws
Considerable portion of a society cannot be incorporated into laws because of the
Judgmental nature of certain values
Conduct that differs from the way they believe would have been appropriate given the circumstances
Unethical Behavior
There’s two reasons why people act unethically
- The person’s ethical standards are different from those of society aw a whole
- The person chooses to act selfishly
Refers to standards of moral conduct, behavior and judgment in business
Business Ethics
Is an area of corporate responsibility where businesses are legally bound and socially obligated to conduct businesses in an ethical manner
Business ethics
Business ethics is based on
Personal values and standards of each person engaged in business
What is the main purpose of business ethics?
Is to help businesses and would-be business to determine what business practices are right and what are wrong
There are other special purposes which are corollary to the main purpose
- To make businessmen realize that they cannot employ double standards to the actions of other people and to their own actions
- To show businessmen that common practices which they have thought to be right because they can see other businessmen doing it, are really wrong
- To serve as a standard or ideal upon which business conduct should be based
Business ethics cover all
Conduct, behavior and judgment im business
Generally, actions that are not forbidden by law are
Ethical
In some cases, what is legal may be
Unethical
There is no _______________ of right and wrong from which all business may base their actions
Uniform Standards
