Chapter 1 - Fundamentals of Business Ethics Flashcards

1
Q

Define Moral Conduct

A

Refers to rights, wrongs, and fairness in behaviour

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2
Q

Define ethics

A

The discipline that deals with moral duty and obligation

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3
Q

Business ethics

A

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

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4
Q

Morality vs Ethical theory

A

Hunting vs Killing, is it for sustenance (necessity for living) or fois gras ( a luxurious food)

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5
Q

Morality vs the Law

A
Morality = what we should do
Law= what we can do
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6
Q

Problem with The rule of conscience

A

Problem: we all have different consciences

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7
Q

Relativism of Belief

A

The truth or justification of moral Judgements is not absolute, but relative to the traditions, convictions, or practices of societies or cultures

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8
Q

Objectivity of Belief

A

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

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9
Q

Define Right, Obligation, justice, good, virtues and responsibility

A

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 =

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10
Q

The problem with Egoism

A
  1. Psychological egoism - help others because it indirectly or directly benefits you
  2. Ethical egoism - persons ought to look out for their self-interest
  3. egoistic business practices and utilitarian results
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11
Q

Divine command ethics

A
  • moral obligation consists on the obedience of God’s command
  • provides a reason to be moral
  • obligations vary
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12
Q

Primary challenge of Divine Command ethics

A
  • Does God command an action because it’s morally right or is it morally right because God commands it?
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13
Q

Teleological = …. ethical principle

A

Utilitarianism

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14
Q

Deontological= …ethical principle

A
  1. Kant’s categorical imperative
  2. principle of justice
  3. Principle of Liberty
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15
Q

Aristotelian…=ethical principle

A

virtue ethics

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16
Q

Utilitarian theorist

A
  1. Dave Hume (1711-1776)
  2. Jeremy Benthan (1748-1832)
  3. John Stewart Mill ( 1806-1873)
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17
Q

3 Essential features of Utilitarianism

A
  1. max. good, min. bad and evil
  2. theory of good
  3. commitment to the measurement and comparison good
18
Q

Act Utilitarianism

A

Would break a moral rule to maximize utility

19
Q

Rule Utilitarianism

A

Rules hold a central place and cannot be compromised

20
Q

Utilitarianism ethics

A
  • ends justifies the means
  • greatest good for the greatest number
  • group, not individual focus
  • determined by an ideal observer
  • prominent in capital markets
21
Q

KEY problem in Utilitarianism

A
  • oppression of Minority
22
Q

“Ethics of Duty” = …. who’s ethical principle

A

Kant

23
Q

What is the only barometer of ethics?

A

Means, motive must be pure

24
Q

Ethics of Duty… says what about dignity

A
  • Dignity must be respected and encouraged
25
Q

3 Categorical imperatives

A
  1. Universality - act in a way that your principles could be universal
  2. Respect of persons, never treat people as a means to an end, always as an end
  3. Kingdom of ends, make principles you can live under
26
Q

Key problem with Kant’s principle

A

Lack of pragmatism - an approach that assesses the truth and meaning of theories or beliefs in terms of their practical application

27
Q

Rights theories of Ethics

A

Rights form the basis for obligation because they express the purpose of morality, which is securing liberties or other benefits for right holders

28
Q

Define a negative right

A

valid claim to liberty, requires that we not interfere with the obligations of other, leave them alone

29
Q

Define a positive right

A

valid claim to goods or services and positive obligation requires that we provide such goods and services

30
Q

Who came up with the entitlement theory?

A

Robert Nozick, follows the right theories

31
Q

Historical principle of the entitlement theories

A

Distributions depends on how it came about

32
Q

Current slice principles of the entitlement theory

A

who has what

33
Q

patterning of the entitlement theory

A
  • moral merit, needs, marginal product, effort
34
Q

Locke’s Theory of Acquisition?

A

Ownership through mixing of own’s labour

35
Q

Veil of ignorance

A

nobody knows your position or genome in society

36
Q

Grey areas

A

Benefit of the doubt is given to the weaker party

37
Q

Ethics of virtue links what 2 things

A

Virtue of Character and eudemonia (happyiness and human thriving)

38
Q

Virtuous motivational structure

A
  1. understand what should be done
  2. be motivated to perform the required acts
  3. form and act on moral ideas
39
Q

Critics of assessing Virtue

A

It can only be assessed after the matter

40
Q

Standards of actions such as: dont kill, tell the truth, dont steal, and moral character traits such as humility and integrity are examples of what?

A

Common morality

41
Q

What is the purpose of morality?

A

to preserve social order