Flashcards
business ethics I
Cards in this deck (31)
- 13 Levels of Ethical Decisions in BusinessIndividual, Organizational, Social/Governmental
- 2The Case for Business Ethics Separation ThesisAsserts that ordinary ethical standards should be kept separate from, and not be used to judge, business decisions because business has its own standards of good and bad.
Psychological Egoism - 3psychological egoismAn alleged theory of human motivation that claims that all human actions are selfish and motivated by self-interest.
- 4Law vs EthicsLaw: Is a systematic body of rules that governs the whole society and the actions of its individual members.
Ethics: is a branch of moral philosophy that guides people about the basic human conduct - 5Risk Assessmenta process to identify potential events
that may affect the entity, and manage risk to be within its risk appetite - 6Risk Assessment Processidentify risk
assess risk
control risk
review controls - 7Personal integrity vs Social responsibilityHow should we individually act? vs
How should we live together? - 8normative ethicsethics deals with norms and standards of appropriate and proper (normal) behavior. Norms establish the guidelines or standards for determining what we should do, how we should act, what type of person we should be.
- 9descriptive ethicsprovides a descriptive and empirical account of those standards that actually guide behavior, as opposed to those
standards that should guide behavior - 10valuesthe underlying beliefs that cause us to act or to decide one way rather than another
- 11Ethical valuesserve the ends of human well-being
- 12practical reasoning vs theoretical reasoningreasoning about what we should do
vs
the pursuit of truth - 13Ethical Decision Making Process1. Determine the facts.
2. Identify the ethical issues involved.
3. Identify stakeholders and consider the situation from their point of view.
4. Consider the available alternatives also called using moral imagination.
5. Make a decision, formulate a plan and carry it out
6. Monitor and learn from your outcome(s) - 14normative myopiahe inability to recognize ethical issues - shortsightedness about
values - 15inattentional blindnessfocusing on too narrow a range of questions
- 16change blindnessoccurs when gradual change
goes unnoticed over time - 17stakeholdersEmployees
Customers
Community
Government
Suppliers
Shareholders
Corporation - 18satisficingSelecting the alternative that satisfies the minimum decision criteria
- 19Stumbling blocks to responsible decision makingIntellectual or Cognitive
(e.g., ignorance, satisficing, etc)
Motivation or Willpower
(e.g., lack of courage, peer pressure, etc.)
Incomplete Monitoring & Learning - 20Stages of Cognitive Moral Development
- 21Ethical FrameworksAn attempt to provide a systematic answer to the fundamental ethical question.
How should human beings live their lives? the "why" it matters - 22Utilitarianisman ethical tradition that directs us to
decide based on overall consequences of our acts - ends justify the means
Jeremy Bentham
"the greatest good/happiness for the greatest number." - 23principle-based/justice framework (deontological)directs us to act on the basis of moral principles such as respecting human rights and fairness for all
Immanuel Kant - 24categorical imperativeAn imperative is a command or duty; “categorical” means that it is without exception. Thus, a categorical imperative is an overriding principle of ethics.
Philosopher Immanual Kant offered several formulations of the categorical imperative:act so as the maxim implicit in your acts could be willed to be a
universal law; treat persons as ends and never as means only; treat others as subjects, not objects - 25Virtue ethicstells us to consider the moral character of individuals and how various character traits can contribute to, or obstruct, a happy and meaningful human life.
Aristotle - 26characterThe sum of relatively set traits, dispositions, and habits of an individual. Along with rational deliberation and choice, a person’s character accounts for
how she or he makes decisions and acts. Training and developing character so that it is disposed to act ethically is the goal of virtue ethics - 27ethical relativismAn important perspective within the philosophical study of ethics that holds that ethical values and judgments are ultimately dependent on, or relative
to, one’s culture, society, or personal feelings. Relativism denies that we can make rational or objective ethical judgments - 28principlesEthical rules that put values into action
- 29dutiesThose obligations that one is bound to perform, regardless of consequences. Duties might be derived from basic ethical principles, from the law, or
from one’s institutional or professional role - 30autonomy“self-rule” autonomy is the capacity to make free and deliberate choices
The capacity for autonomous action is what explains the inherent dignity and intrinsic value of individual human beings. - 31human rightsThose moral rights that individuals have simply in virtue of being a human being. Also called natural rights or moral rights
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- Flashcards on business ethics I, created by victoria ajayi on 11/02/2023.
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