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Arts and Humanities
Quiz 2 Business and Society
Terms in this set (27)
Definition of Business Ethics
Concerned with morality and fairness in behavior, actions, or practices that take place within a business context
Two branches of business ethics
Descriptive ethics: "WHAT IS" & Normative ethics: "WHAT OUGHT TO BE".
THREE APPROACHES TO BUSINESS ETHICS
•Ethical tests approach
Based on the use of ethical principles or guidelines to justify one's behavior or actions
•Ethical test approach:
Based on short practical questions or "tests" to guide our ethical decision making processes
Based on how society views business ethics. Based on ordinary common sense. It compares a business decision, practice or policy with the prevailing norms of acceptability
Ethical relativism (Elements involved in making ethical judgments when using the conventional approach)
Pick and choose values or norms as we please to justify our behaviors (Our own self intrest)
THREE MODELS OF MANAGEMENT ETHICS
immoral, moral, amoral
Devoid of ethical principles. Intentionally opposed to doing what's ethical. (Regards laws as a barrier to overcome, Choose to continue doing something wrong, Show no concern for stakeholders)
Conforms to the highest standards of ethical behavior. Seeks to do what is right while doing business. Adheres to norms of integrity and fairness (Considers impact on stakeholders)
•Intentional Amoral managers:
•Do not believe that morals and business should mix - they are two separate spheres
•Unintentional Amoral managers
•They forget to consider ethical dimensions of decision making. They are casual or careless about how their decisions may affect stakeholders.
Personal Level, Managerial or organizational Level, Industry or profession level, and Societal or global level.
•Ethical concept, guideline, or rule that, if applied when you are faced with an ethical decision, may assist you in taking the ethical course
Conflict of Interest:
•Present when the individual has to choose between his/her interests or the interests of someone else or some other group.
•Based on the consequences or result that the action will produce
Based on duties
•Based on virtue (from the Greek arete=goodness)
Principles of Ethics: Utilitarianism
Teleological principle that basically asserts: "we should always produce the greatest good for the greatest number".
Principles of ethics: Utility
Is defined by Jeremy Bentham as the sum of all pleasure/benefits that results from an action, minus the suffering of anyone involved in the action.
Principle of respect for people:
Don't use people as a means to an end. Recognize each person's moral worth and dignity
Principle of autonomy:
Every person is able to regard oneself as a maker of universal law. We don't need external authority to determine the nature of moral law.
Principle of rights
Human rights can be moral rights or legal rights.
Principles of Justice
Advocates fair treatment of each person. There are several kinds of justice:
Rooted on Greek's philosophers work (Plato and Aristotle), it focuses on the individual becoming full of virtues, which will translate into their actions.
Approach to management based on the leader being focused on serving others first - Example: Jesus Christ
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