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Business Ethics > Exam 1 (Days 2-6) > Flashcards

Exam 1 (Days 2-6) Flashcards

1
Q

Pyramid of Success

A

Integrity
/ \
Leadership - Knowledge

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2
Q

Integrity

A

The willingness to conduct one’s self in accord with principles that promote fairness to all

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3
Q

Business Ethics

A

the study of how to property use one’s economic and professional power with integrity

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4
Q

Ethics

A

the study of integrity

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5
Q

Cheating

A

the giving of less than fairly due while expecting the same reward as those who gave what was due

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6
Q

Moral Misconduct

A

in this, one, in their conduct as a member of a community causes harm to another person or persons

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7
Q

Ethical Misconduct

A

in this, one, in their professional conduct, causes harm to another person or persons

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8
Q

Lawful Misconduct

A

in this, one engages in an act that is prohibited by a statute

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9
Q

Statute

A

a written law

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10
Q

The three entities (players in the field of existence) are:

A

The self (me as a mind, person, or soul)

Humanity (social structures)

The world (everything not human)

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11
Q

The self

A

the
Existential question

What is the true self in philosophy: the mind

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12
Q

Humanity

A

the Sociological question

of or pertaining to the dynamics of informal and formal human institutions
Families – schools – communities – states
Religions – clubs – etc.

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13
Q

The world

A

the ontological question

The study of being – what it means to say something exists or is real

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14
Q

Empirical

A

That which is known to the senses

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15
Q

Idealism

A

The view that only the mind’s reconstruction of the world

creates objects

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16
Q

How should the self relate to the self?

A

the self-discipline question

How should I as “I think” relate to my bodily self as “I feel” in all its forms?

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17
Q

How should the self relate to humanity?

A

The ethological question

How should I, as an individual, relate to others within my surrounding social arrangements?

Ethology: The study of moral & ethical values

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18
Q

Philanthropy

A

Love of humanity

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19
Q

How should the self relate to the world?

A

the axiological question OR the teleological question

How should I prioritize what I value in the array of goods offered by my surroundings?

Axiology: Value Theory
The study of values and how value judgments are made.
What is good and what goods should be seen as higher than others?

Teleology: The study of purpose in life

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20
Q

How should humanity relate to the self?

A

The justice question

How should I, when representative of a social institution, relate to individuals?

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21
Q

How should humanity relate to humanity?

A

The political question

Diplomacy goes here

How should I, when representative of a social institution, relate to other social institutions?

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22
Q

How should humanity

relate to the world?

A

The custodial question
The environmental question
How should I, when representative of a social institution, relate to its physical environment?

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23
Q

Ethical Relativism

A

The view that only personal opinion, the traditions of one’s society and the circumstances of the present moment define one’s ethical principles

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24
Q

Ground

A

A statement or set of statements
(claims or principles)
That can be held as incontestably valid.

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25
Q

E. O. Wilson’s Sociobiology thesis

A

Ethics has its roots in nature.

  • Harvard University
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26
Q

Immanuel Kant

A

believed that our ethical views are driven by the way our minds make sense of the world.

all humans think alike and reason in the same way.

he saw knowledge not as something self-based but as human based

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27
Q

Nomology

A

the study of the laws governing the workings of the mind.

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28
Q

Kant’s Categorical Imperative

A

Never do anything to others that you would not want them to have a legal right to do you, without exception.

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29
Q

Kant’s Ethical Ground

A

We know what is proper and improper by the way our minds make sense of the world.

30
Q

Deontology

A

The view that ethics can have its ground in rules or a universal rule

31
Q

Maxim

A

a rule

32
Q

Categorical

A

without exception

33
Q

Kant’s ethical perspective

A

Fairness is to be found in the way the mind makes sense of things.

34
Q

The Golden Rule

A

Treat others in the same way you want to be treated.

This is the historical ground for all moral judgment.

35
Q

The Principle of Consent

A

Do not do to others that which does not have their permission.

36
Q

Deceptive Practices

A

consent is denied because one is led to believe they are agreeing to one thing when, in fact, they are agreeing to another.

37
Q

Social Contract Theory (No harm principle)

A

The view that there is within human nature an unwritten law requiring we do not harm each other

  • Do no harm to others
38
Q

Contracts

A

exist to regulate the interactions between two or more people

39
Q

Implicit Agreement

A

A commonly held expectation between two parties based on the circumstances.

These agreements are unwritten and unspoken and held by everyone in the culture; so no one feels that they need to be said.

40
Q

Humaneness

A

Compassion for other human beings or animals

41
Q

John Locke

A

in his Two Treatises of Government argued that government should not detract from the state of nature rights of life and liberty.

This view is dependent upon the
Social contract working in nature.

42
Q

Jean Jacques Rousseau

A

in his book called: Social Contract, saw society as corrupting our state of nature innocence.

43
Q

Thomas Hobbes

A
  • said: Good institutions allow men to trade their state of nature rights, which like animal rights only create a world that is: “solitary, poor, nasty, brutish and short,” for a cooperative world which will make them better off.
  • He argued all kings must meet their end of the social contract by obeying the dictum: The safety of the people is the supreme law. (Hobbes saw security as a more fundamental need than liberty and believed all citizens should give their guns to the king.)
  • Lived during the English Civil War
  • Authored the Leviathan
  • believed incorrect moral views were the cause of the civil war (Oliver Cromwell). The leviathan was to show men how to create an acceptable government
44
Q

Thomas Hobbes’ Social Contract

A

Self-interest requires each citizen to give his natural rights to his king in exchange for a secure and orderly society.

45
Q

John Stewart Mill

A
  • took the passive point of view in
    J. S. Mill’s “no harm” principle
  • the social contract need go no further than a commitment to not endanger the well-being of others
46
Q

Six Important

Social Justice Concepts

A 
Equal opportunity
Open communication 
Mutual respect
Nondiscrimination
Due process rights
Fair accommodation
47
Q

Dilemma

A

A mental state characterized by the recognition that the solution to a problem at hand will expose another.

can either be
practical or ethical

48
Q

A practical dilemma

A

The realization that doing one thing which will benefit you or your company will cause you to lose an equal amount from another activity or opportunity.

49
Q

The three elements defining

a practical Dilemma

A
  1. It is always all about “me” or “us.”
  2. Right and wrong is defined only in terms of potential rewards and punishments to the self or firm.
  3. Cost vs. benefit to “me” or “us” is used to arrive at the final decision.
50
Q

Three examples of a

practical ground

A
  1. The company needs to be profitable
  2. State law must be followed
  3. Reputation for quality is important
51
Q

A Practical Virtue

A

An ability to perform a task that primarily rewards the one who performs it

52
Q

An ethical dilemma

A

The realization that doing the right thing for one legitimate stakeholder will cause you to do the wrong thing for another.

53
Q

The three elements defining

an ethical Dilemma

A
  1. It is always about all stakeholders.
  2. Right and wrong is defined in terms of duty to others, society, profession, and one’s word.
  3. The maximization of fairness to all concerned is used to arrive at the final decision.
54
Q

Three examples of an

Ethical ground

A
  1. The CFA (charter financial analyst) Code of Conduct must be followed
  2. The WVU Social Justice Statement
  3. The unwritten rules of proper civility that all of you use everyday
55
Q

An Ethical Virtue

A

A willingness to perform a task that primarily rewards others

56
Q

Social contract (ground)

A

(e.g. Consent – No harm – and Compassion) is an example of ground.

57
Q

Fundamental Rights

A

Protections widely recognized as properly belonging to every person.

These are also called: Inalienable Rights, state of nature rights, and human rights.

58
Q

Harmless Rights

A

Rights that exists without cost, harm, or potential harm to other persons.

59
Q

Entitlement

A

The view that the rights of others are defined by the limits of one’s own power.

Society’s create rights by limiting the powers one’s fellow citizens can have.

This limiting takes the form of law.

60
Q

economic rights

A

governments limit individual power through taxation, taking from those who have and giving to those who have less; this grants such rights as access to food, housing, education, clothing, cell phones, etc.

61
Q

State of Nature Rights

A

Those things that one would have were there no government.

life – liberty – pursuit of happiness

62
Q

The Problem of Right (1)

A

All rights, even state of nature rights, can only exist if granted by a provider.

An injured animal in a state of nature has no doctor to give it the right to live. Its own body must provide the right.

63
Q

The Problem of Right (2)

A

For every right there exists a responsibility without which the right cannot exist.

It follows that our fundamental rights can only exist if someone takes the responsibility to provide them.

64
Q

Provider

A

Any entity which produces a good

65
Q

End-in-itself?

A

a person, something which desires goods but is not a good itself

66
Q

Hedonism

A

the view that pleasure and happiness are the highest goods

67
Q

Epicurism

A

The view the purpose of life is to serve the self with good health, refined living, and longevity

68
Q

Maximalism

A

the view that any proper action is worthy of being carried out to its fullest extent

69
Q

Friedrich Nietzsche’s

The Birth of Tragedy

A

This invites us to consider humanity as being eternally torn between two extremes, Dionysian hedonism and the purity of Apollonian idealism

Parties and Productivity cannot co-exist. It is either one or the other.

70
Q

Aristotle’s interpretation of friendship

A

[Free market] provider relationships form the ground for human bonding

Ethics is pragmatic

71
Q

Supererogation

A

To give the performance of a duty more than expected by others.

Responsibility creates rights!

Business Ethics (4 decks)

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