Ethics and Business Flashcards
What must responsible decision making rely on?
The personal values and principles of the individuals involved
What is the concept of butterfly effect?
A simple flap of butterfly in Manila might cause typhoons in Singapore
TAASA
Ethics is NOT…
- the same as feelings and emotions
- about legality
- about following the culturally accepted norms
- science
- a religion
FRUCV
What are the five sources of ethical standards?
- Fairness or Justice
- Rights Approach
- Utilitarian Approach
- Common Good Approach
- Virtue Approach
Under this approach, ethical action is the one that provides the most good or does the least harm.
Utilitarian Approach
This approach deals with consequences; it tries both to increase the good done and to reduce the harm done.
Utilitarian Approach
Its ethical corporate action is the one that provides the most good and does the least harm for all who are affected.
Utilitarian Approach
Under this approach, ethical action is the one that best protects and respects the moral rights of those affected.
Rights Approach
This approach starts from the belief that humans have dignity based on their human nature per se or on their ability to choose freely what they do with their lives.
Rights Approach
This approach means that under a kind of dignity, people have a right to be treated as ends and not merely as means to other ends.
Rights Approach
What are the examples of moral rights?
- Rights to make one’s own choices about what kind of life to lead
- Rights to be told the truth
- Rights not to be injured
- Rights to a degree of privacy
What is the particular duty mentioned in the often-said rights imply duties?
Duty to respect others’ rights
This idea implies that ethical actions treat all human beings equally - or if unequally, then fairly based on some defensible standard.
Fairness or Justice
It is the notion that life in a community is good in itself, and our actions should contribute to that life.
Common Good Approach
This approach suggests that the interlocking relationships of society are the basis of ethical reasoning.
Common Good Approach