Ethics Flashcards
Morals/Values
Core beliefs or desires that guide or motivate attitudes and actions
Ethical Dilemma
Quandary people find themselves in when they have to decide if they should act in a way that might help another person or group even though doing so might go against their own self interest
Moral Relativist
In philosophy moral relativism is the position that moral or ethical propositions do not reflect universal moral truths
Moral Absolutist
Is the meta ethical view that certain actions are absolutely right or wrong, devoid of the context of the act
Trust
Willingness of one person or group to have faith or confidence in another person’s goodwill, even though that puts them at risk
Reputation
Esteem or high repute that individuals or organizations gain when they behave ethically
Stockholder Theory
Social responsibility of business is to increase profits
Stakeholder theory
Businesses have a responsibility to stakeholders outside of the company
Triple bottom line
Profit
People
Planet
Profit
Economic value after deducting the cost of all inputs
People
Fair and beneficial business practices toward labor and the community and region in which a corporation conducts its business
Planet
Sustainable environmental practice
Four ethical decision making rules
Utilitarian rule
Justice rule
Practical rule
Moral rights rule
Utilitarian rule
Produce greatest good for most people
Justice rule
Distributed benefits and harms impartially
