Chapter 42

Question 1

Ethics

Answer 1

A set of moral principles or values that governs the conduct of an individual or a group.

Question 2

Ethical Fundamentalism

Answer 2

A theory of ethics that says a person looks to an outside source for ethical rules or commands.

Question 3

Utilitarianism

Answer 3

A moral theory that dictates that people must choose the action or follow the rule that provides the greatest good to society.

Question 4

Kantian Ethics

Answer 4

A moral theory which says that people own moral duties that are based on universal rules, such as the categorical imperatives “Do unto others as you would have them do unto you.” Also known as duty ethics.

Question 5

Social Contract

Answer 5

A moral theory that says each person is presumed to have entered into a social contract with all others in society to obey moral rules that are necessary for people to live in peace and harmony.

Question 6

Ethical Relativism

Answer 6

A moral theory which holds that individuals must decide what is ethical based on their own feelings about what is right and wrong.

Question 7

Maximizing Profits

Answer 7

A theory of social responsibility that says a corporation owes a duty to take actions that maximize profits for shareholders.

Question 8

Moral Minimum

Answer 8

A theory of social responsibility that says a corporation’s duty is to make a profit while avoiding causing harm to others.

Question 9

Stakeholder Interest

Answer 9

A theory of social responsibility that says a corporation must consider the effects its actions have on persons other than its shareholders.

Question 10

Corporate Citizenship

Answer 10

A theory of responsibility that says a business has a responsibility to do good.