Good Governance Flashcards
is an organization designed to provide goods, services, or both to consumers
business
of “business” relates to the state of being busy either as an individual or society as a whole, doing
etymology
is old as human civilization
business
target of business
to earn profit
will not exist without business
society
Reason for examining business activities
- Promotion of common good
- Protection of the individual interests
- Preservation of human society in general
what happen if there is no ethics?
- Chaos in human activities
- No common understanding & agreement about what is wrong and right human conduct.
Paves the way for common ground in understanding of the fundamental idea of what is good and what is bad in our human conduct.
importance of ethics in business
provides with common understanding of the universal, objective & irreversible moral principles that govern our human conduct & guide our moral decisions.
ethics
opens a novel way of resolving issues & ethical dilemmas in business & in the corporate world
business ethics
is a personal affair & not a debatable public matter.
ethics
The absence of what in business will only justify illegal activities & questionable practices in business.
ethics
does some businessmen thinks that ethics has no place in business.
not true
maybe profitable but the means of acquiring maybe questionable
business
encourage businessmen & managers to look closely into the ends & means of doing business
ethics
Some businessmen believe that they must fight for survival & destroy competitors
business is a war
argues that “the enterprise is an organ of society & its actions have decisive impact on the social scene.”
peter drucker
provides us with clear distinction of morality & legality. An action maybe legal but not necessarily moral
ethics
is an integral part of human society, therefore actions of individuals & institutions in business must be subjected to moral rules & moral evaluation
business
are insufficient. In the absence of law, ethics dictates the correct conduct to follow. Ethics is the unwritten law, written in the hearts of men.
laws
people looked at profit as the most important aspect of business.
traditionally business
provide framework for resolution of moral issues & problems.
essence of business ethics
consider profit as form of reward for their hard work & effort & skills
businessmen
Noted economist says that “the only responsibility of business is to make profit so long as it stays within the rules of the game which is to say engage in open & free competition without deception or fraud.”
milton friedman
is ethical issue. Activities including profit-making must be examined in the perspective of morality.
profit motive in business
business is ethical issue. Activities including profit-making must be examined in the perspective of morality.
profit-motive
Motivates people to do something meaningful
the good side of profit-motive
Generates potential capital for the business. More capital, more business more job opportunity.
profit motive
- Promotes rivalry among competitors. Stiff competition. Survival.
bad side of profit motive
- Makes people focus only on making money without considering whether
- needs & wants of consumers & end users are satisfied.
bad side of profit motive
is a good & valid activity in business, as long as all factors have been considered
earning profit
Study what is right & wrong human behavior & conduct in business
Business Ethics
Study of perceptions of people about morality, moral norms, moral rules & ethical principles as they apply to people & institutions in business
business ethics
LOVE OF WISDOM
philosophy
LOVER OF WISDOM
philosopher`
“philos” which means
love
“Sophia” which means
wisdom
studies the truth to be known, e.g. God, immortality of the soul, origin of the universe.
Theoretical or speculative
studies truths to be acted upon, e.g., ethics, axiology, semantics & the like.
practical philosophy
studies the origin, evolution & fate of the entire universe
- Cosmology
philosopher that focuses on the question of universe’ origin in a scientific & philosophical manner
Cosmologist
deals with the nature of existence of things & the status of reality.
ontology
Branch of metaphysics
ontology
Studies the nature of the mind, the self & the consciousness
metaphysics
Greek word “meta” or beyond & “physikon” or nature
metaphysics
Investigates the nature of religion, existence of God, concepts of time, space, cause & chance
metaphysics
o For the Greeks, it is the study of the nature of the soul of the person & other entities.
psychology
o Investigates the nature, being & attributes of God not based on the Bible & divine revelation but by logical abstractions & reasoning.
theodicy
Addresses the philosophical problems surrounding the theory of knowledge.
epistemology
Studies the meaning of words & its linguistics forms, functions & relation to other words.
- Semantics
Study of the philosophy of value judgments or worthiness.
axiology
Studies values, its origin, types & characteristics
axiology
Aims to establish the general principles of art & beauty
aesthetics
Greek word “aisthetikos” perceptive of things through sensations, feelings & intuitions.
aesthetic
Deals with the nature of thinking & reasoning using empirical support to establish the truth.
logic
if the premise is true then the conclusion must be true.
logical validity
from universal to particular
deductive reasoning
from particular to universal
inductive reasoning
Sometimes called Moral Science or Moral philosophy
ethics
Goal to investigate the nature of the human conduct
ethics
Sometimes used interchangeably
ethics & morality
quality of goodness or badness in a human act
morality
Oftentimes called “moral philosophy”
ethics
Investigates the nature of moral principles, ethical systems & moral norms that people use to justify their moral judgment.
ethics
are called Normative Science because in ethics we determine norms ideals, standard or values, to justify our moral judgment
ethics
3 categories of general ethics
o Descriptive ethics
o Normative ethics
o Metaethics
Studying & describing the morality of people, culture, or society.
descriptive ethics
Compare & contrast the different values, principles, code of ethics, beliefs & practices of people.
descriptive ethics
The study of human motivation.
psychological egoism
Does not prescribed how a person should act
cultural relativism
Involves moral judgment based on ethical norm or theory
normative ethics
To form into a related whole the various norms, rules, & values of a society’s morality
metaethics
Claims that when any two cultures or any individual hold different moral values of an action both can be right
ethical relativism
An action may be right for one person or society but wrong for the other, however both can equally correct.
ethical relativism
Emphasizes moral differences based on personal beliefs & convictions
situational ethics
a.k.a. moral nihilism. We cannot know whether or not there is moral truths
there is no moral truth
Each culture has its own set of rules that are valid for that culture. We have no right to interfere & v.v
there is no universal truth
