Chapter 1 - Fundamentals of Business Ethics Flashcards
Define Moral Conduct
Refers to rights, wrongs, and fairness in behaviour
Define ethics
The discipline that deals with moral duty and obligation
Business ethics
concerned with morality and fairness in behaviour, actions, and practices that apply in a business context
- the study of practices in business and whether or not they are expectable
Morality vs Ethical theory
Hunting vs Killing, is it for sustenance (necessity for living) or fois gras ( a luxurious food)
Morality vs the Law
Morality = what we should do Law= what we can do
Problem with The rule of conscience
Problem: we all have different consciences
Relativism of Belief
The truth or justification of moral Judgements is not absolute, but relative to the traditions, convictions, or practices of societies or cultures
Objectivity of Belief
Moral judgements are generally true or false in an absolute or universal sense, and persons will either accept or reject moral positions on that basis
Define Right, Obligation, justice, good, virtues and responsibility
right- entitlements that are not earned
obligations - duty to do well
justice = distribution of costs and benefits in an equitable way
good = to do good or at least no harm
virtues = art and practice of becoming a good person
responsibility =
The problem with Egoism
- Psychological egoism - help others because it indirectly or directly benefits you
- Ethical egoism - persons ought to look out for their self-interest
- egoistic business practices and utilitarian results
Divine command ethics
- moral obligation consists on the obedience of God’s command
- provides a reason to be moral
- obligations vary
Primary challenge of Divine Command ethics
- Does God command an action because it’s morally right or is it morally right because God commands it?
Teleological = …. ethical principle
Utilitarianism
Deontological= …ethical principle
- Kant’s categorical imperative
- principle of justice
- Principle of Liberty
Aristotelian…=ethical principle
virtue ethics
Utilitarian theorist
- Dave Hume (1711-1776)
- Jeremy Benthan (1748-1832)
- John Stewart Mill ( 1806-1873)