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Terms in this set (48)
study of what constitutes right and wrong, or good and bad, human conduct in a business context
professional codes of ethics
somewhere between etiquette and law. rules that are supposed to govern the conduct of members of a given profession
-theory that what is right is determined by what a culture or society says is right.
says that right and wrong are only a function of what a particular society takes to be right and wrong. both views are mistaken.
-rejects notion that universal principles of right and wrong exist
"Do unto others as you would have them do unto you". this injunction represents one of humankind's highest moral ideals and can be found in essence in all the great religions of the world.
divine command theory
if something is wrong, then the only reason it is wrong is that God commands us not to do it- many theologians and philosophers would reject this view
paradox of hedonism
people who are exclusively concerned with their own interests tend to have less happy and less satisfying lives than those whose desires extend beyond themselves. aka- paradox of selfishness
-Narrow: concerns the principles that do or should regulate people's conduct and relations with others.
-broad: not just the principles of conduct that we embrace, but also the values, ideals, and aspirations that shape our lives.
one of the major characteristics of an organization, or any group, is the shared acceptance of these norms and rules by its members. Acceptance can take different forms, it can be conscious or unconscious, overt or implicit.
extreme cases, happens when pressure for unanimity within a highly cohesive group overwhelms its members' desire or ability to appraise the situation realistically and consider alternative courses of action.
diffusion of responsibility
pressure to conform to the group and to adhere to its norms and beliefs can lead to the surrender of individual moral autonomy. as a result, responsibility for what an organization does can become fragmented or diffused throughout the group, with no single individual seeing himself or herself as responsible for what happens. it happens inside an organization leads individuals to have diluted or diminished sense of their own personal moral responsibilities.
the more people who are observing an event, the less likely is any one of them to feel obliged to do something. in emergencies, we seem naturally to let the behavior of those around us dictate our response
propose some principle or principles for distinguishing right actions from wrong actions. can be divided into consequentialist & nonconsequentialist
moral rightness of an action is determined solely by its results. if consequences are good- then act is right; if they are bad- the act in wrong.
contend that right and wrong are determined by more than the likely consequences of an action. they do not necessarily deny that consequences are morally significant, but they believe that other factors are also relevant to the moral assessment of an action.
view that equates morality with self-interest. according to it, an act is morally right if and only if it best promotes the agent's own interests
-psychological: people are, as a matter of fact, so constructed that they must behave selfishly.
the view that pleasure/happiness is the only thing that is good in itself, that is the ultimate good, the one thing in life worth pursuing for its own sake
moral doctrine that we should always act to produce greatest possible balance of good over bad for everyone affected by our actions.
the view that it is morally acceptable (or even morally required) for individuals to pursue their economic interests when engaged in business-is defended on utilitarian grounds
kant idea that nothing is good in itself except. goodness depends on the will that makes use of them.
only when we act from a sense of duty does our action have ___ ___. when we act only out of feeling, inclination, or self-interest, our actions-although they may be otherwise identical with ones that spring from the sense of duty-have no true ___ ___
Kant's theory that says we should always act in such a way that we can will the maxim of our action to become a universal law. "What determines whether an act is right"- is that an act is morally right if and only if we can will it as a universal law of conduct
They tell us what we must do on the assumption that we have some particular goal.
When you answer the question "what should I do?" you must consider what all rational beings should do. You can embrace something as a moral law only if all other rational beings can also embrace it. it must have _____ _____.
proper distribution of social benefits, mainly economic benefits and burdens
Rawl's theory of justice
Modern alternative to utilitarianism. one compatible with belief that justice must be associated with fairness and moral equality of persons. Wishes to avoid reducing justice to matter of social utility.
how to handle just distribution of wealth, Rawl's believed that people would choose safest option. Rawl asks us to imagine people meeting in the _____ _____ to choose the basic principles that are to govern their society. people will choose based on self-interest which is under the veil of ignorance.
veil of ignorance
people in the original position know nothing about themselves personally or about what their individual situation will be once the rules are chosen and veil is lifted.
you should select the alternative under which the worst that could happen to you is better than the worst that could happen to you under any other alternative: "the best of the worst situation"
create wealth for everyone, have right to receive more. we all have opportunity to be in their situation. it is just for some people to have more if everyone starts at even playing field, everyone given opportunity to succeed.
-An economic system that operates on basis of profit and market exchange and in which the major means of production and distribution are in private hands.
-Is private, not economically planned or controlled, the firm's motive is profit, competition keeps firm in check and there is private property.
-types: mercantile, industrial, financial, state welfare, globalized
Economic system characterized by public ownership of property and a planned economy.
-types: worker control: hybrid, market-oriented form
-metaphor conceived to describe the self-regulating behavior of the market place.
-If guided by ___ ____, each person's individual and private pursuit of wealth results in the most beneficial overall organization and distribution of economic resources.
morality: what its not
not law, not etiquette, not religion
theory that there are permanent and universally applicable characteristics of human nature that serve as a basis for theological, legal and social principles
-broader, general revelation
-laws are consistent with very nature as humans
-laws can be arrived at through medium of human reason
Christian Ethics: Hill
Three divine characteristics that have direct bearing on ethical decision making are repeatedly emphasized in the Bible: God is holy, just and loving.
concept of single-minded devotion to God and absolute ethical purity, predominant theme in scripture
provides order to human relationships by laying our reciprocal sets of duties and rights for those living in the context of community-business partners, employees, neighbors and family members.
centerpiece of Christian ethics. greatest human virtue, essence of God's character
the separation of personal and professional ethics. business, not religion/personal ideals determining what is acceptable within its own environment
-emphasizes the role of one's character and the virtues that one's character embodies for determining or evaluating ethical behavior. form of nonconsequentialism
-because manipulative advertising encourages advertisers to ignore the well-being of their targets and encourages those targets to neglect the cultivation of non-market goods, it makes us less virtuous persons
sometimes other moral principles can be cast aside in certain situations if love is best served. love is the ultimate law. form of nonconsequentialism
respecting individual liberty, private property, entitlement theory
tangible or intangible entity that is owned by a person/people/corporation. owner has all rights to this thing. see notes for more on ethics
not just advertising or sales. its about meeting needs, facilitating mutually beneficial exchange. focus on win, win situations
marketing mix/ 4 p's
4 tools to make marketing effective/successful:
-Product: value marketer offers in exchange
-place: where and when an exchange occurs
-promotion: how marketers make consumers aware of potential exchange
-price: value consumer offers in exchange
mass communication paid for by identified sponsor.
-goals: inform, persuade, remind
-how?: attention, interest, desire, action
federal trade commission
Independent agency of US government, est in 1914 by FTCA. Its principal mission is the promotion of consumer protection and the elimination and prevention of anti-competitive business practices-such as coercive monopoly.
fairness/equitable, equality, rights and duties
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