Chapter 3

Question 1

typically looks at the decisions businesses make or have to make and whether those decisions are right or wrong. It has to do with how businesspersons apply moral and ethical principles in making their decisions.

Answer 1

Business Ethics

Question 2

Compliance with the law is sometimes called the _______________ -________________. Meaning it is the lowest ethical level for a society.

Answer 2

Moral minimum

Question 3

a corporation’s profits, its impact on people, and its impact on the planet.

Answer 3

Triple Bottom line

Question 4

What are the four parts to a four part analysis

Answer 4

1. What is the legal implications of the decision
2. What is the public relations impact
3. What are the safety risks
4. What are the financial implications

Question 5

the application of morals and ethics to a situation—applies to businesses just as it does to individuals.

Answer 5

Ethical reasoning

Question 6

One of two major ethical categories, is rooted in the idea that every person has certain duties to others, including humans and the planet

Answer 6

Duty-based ethics

Question 7

One of two major ethical categories, focuses on the impacts of a decision on society or on key stakeholders.

Answer 7

Outcome-based ethics

Question 8

a “rights theory” that believes a key factor in determining whether a business decision is ethical is how that decision affect the rights of others

Answer 8

principle of rights

Question 9

The idea of evaluating your decisions on what would happen if everyone acted in the same way

Answer 9

categorical imperative

Question 10

The premier outcome based ethical theory that focuses on the most good for the most people

Answer 10

utilitarianism

Question 11

involves an assessment of the negative and positive effects of alternative actions on these individuals

Answer 11

cost-benefit analysis