Values And Ethics Flashcards
Ethics v law
Bad substitutes
Ethics
Beliefs about what is right and wrong or good or bad in actions that affect others
What is ethical behavior
Competing fairly and honestly
Communicating truthfully
Being transparent
Not causing harm to others
Factors influencing ethical behavior
Cultural differences
Knowledge
Organizational behavior
Code of ethics
Written statement that sets forth the principles that guide an organizations decisions
Ethical dilemma
Situation in which more than one side of an issue can be supported with valid arguments
Conflict of interest
Situation in which competing loyalties can lead to ethical lapses, such as when a business decision may be influenced by the potential for personal gain
CESR’s values based approach to resolving ethical dilemma
Define dilemma Alternatives for resolution Determine possible right choices Choose one right course of action Communicate decision Reflect
Approaches to resolving ethical dilemmas
Justice Utilitarianism Individual rights Individual responsibilities Common good Virtue
Justice
Treat people equally/fairly in a way that makes rational and moral sense
Utilitarianism
Choose option that delivers the most good for the most people
Individual rights
Respect the rights of all individuals, particularly the right to control their own destinies
Individual responsibilities
Focus on the ethical duties of the individuals involved in the situation
Common good
Emphasize qualities and conditions that benefit the community as a whole, such as peace and public safety
Virtue
Emphasize desirable character traits such as integrity and compassion
