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Business and Society Chapter 7

Terms in this set (34)

Ethics
Is the discipline that deals with moral duty and obligation and can also be regarded as a set amount of principles or values.
Morality
is a doctrine or system of moral conduct
Business Ethics
is concerned with morality and fairness in behavior, actions, policies, and practices that take place within a business context.
Descriptive Ethics
-"WHAT IS"
-is concerned with describing, characterizing, and studying the morality of people, an organization, a culture, or a society.
Normative Ethics
-"WHAT OUGHT TO BE"
-is concerned with with supplying and justifying a coherent moral system of thinking and judging.
Three Major Approaches to Business Ethics
1. Conventional approach
2. Principle approach
3. Ethical tests approach
Conventional Approach
based on how common, everyday society (the average person) views business ethics today and is based on ordinary, common sense and prevailing practice.
Principles approach
Based on the use of ethics principles or guidelines to justify the direct behavior, actions, policies, and practices.
Ethical tests approach
based on short, practical questions of "tests" to guide ethical decision making, behavior, and practices.
Ethical Relativism
where we pick and choose which source of norms we wish to use on the basis of what will justify our current actions or maximize our freedom
Three Models of Management Ethics
1. Immoral management
2. Moral management
3. Amoral management
Immoral management
Devoid of ethical principles. Intentionally opposed to doing what's ethical
Moral management
Conforms to the highest standards of ethical behavior. Seeks to do what is right while doing business. Adheres to norms of integrity and fairness
Amoral management
consists of Intentional Amoral managers and Unintentional Amoral managers
Unintentional Amoral managers
They forget to consider ethical dimensions of decision making. They are casual or careless about how their decisions may affect stakeholders.
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