Chapter 3 Business Ethics, Social Forces and the Law

Question 1

Balancing the goal of profits with the values of individuals and society

Answer 1

Business Ethics

Question 2

Imposes higher standards of behavior than those required by positive law and they must be followed even if those higher standards run contrary to codified law

Answer 2

Natural Law

Question 3

Constituencies of businesses, often with conflicting goals for the business

Answer 3

Stakeholders

Question 4

Measures the impact of a decision on various groups and then asks whether public disclosure of that decision is defensible

Answer 4

Stakeholder Analysis

Question 5

The adherence to one’s values and principles despite the costs and consquences

Answer 5

Integrity

Question 6

I.e. An employee who works for a company owes allegiance to it - this is conduct that compromises that loyalty

Answer 6

Conflict of Interest

Question 7

“above all, do no harm”; business ethics motto

Answer 7

Primum non nocere