Chapter 9 Flashcards
Moral principles and values applied to social behavior.
Ethics
The application of moral and ethical principles in a business context.
Business Ethics
A measure of a corporation’s impact on People, Planet, and it’s profits.
Triple Bottom Line
Those who merely comply with the law are acting at the lowest ethical level society will tolerate.
Moral Minimum
A reasoning process in which an individual links his or her moral convictions or ethical standards to the situation at hand.
Ethical Reasoning
An ethical philosophy rooted in the idea that every person has certain duties to others, including both humans and the planet.
Those duties may be derived from religious principles or from other philosophical reasoning.
Duty Based Ethics
An ethical philosophy that focuses on the impacts of a decision on society or on key stakeholders.
Outcome Based Ethics
The belief that human beings have certain fundamental rights.
Whether an action or decision is ethical depends on how it affects the rights of various groups.
Principle of Rights
An ethical guideline developed by Kant under which an action is evaluated in terms of what would happen if everybody else in the same situation, or category, acted in the same way.
Categorical Imperative
An approach to ethical reasoning in which an action is evaluated in terms of its consequences for those whom it will affect. A “good” action is one that results in the greatest good for the greatest number of people.
Cost Benefit Analysis
The idea that corporations can and should act ethically and be accountable to society for their actions.
Corporate Social Responsibility
Groups affected by corporate decisions.
Includes employees, customers, creditors, suppliers, and the community in which the corporation operates.
Stakeholders
organizing ethical concerns and issues and approaching them systematically to eliminate alternatives and identify the strengths and weaknesses.
- ) Inquiry
- ) Discussion
- ) Decision
- ) Justification
- ) Evaluation
Business Process Pragmatism
