Business Ethics Chapter 6
Terms in this set (37)
What is Economic Value Orientation?
The concept of the economic value orientation is associated with values that can be quantified by monetary means; thus, according to this theory, if an act produces more value than its effort, then it should be accepted as ethical.
What is Idealism?
Idealism is a moral philosophy that places special value on ideas and ideals as products of the mind, in comparison with the world's view. The term refers to efforts to account for all objects in nature and experience and assign to such representations a higher order of existence.
What is Realism?
Realism is the view that an external world exists independent of our perception of it. Realists work under the assumption that humankind is not inherently benevolent and kind but instead is inherently self-centered and competitive. According to realists, each person is always ultimately guided by his or her own self-interest.
What are the 7 Philosophies used in Business Decisions?
Describe Teleology as it pertains to Business Decisions?
Stipulates that acts are morally right or acceptable If they produce some desired result, such as realization of self-interest or utility.
Describe Egoism as it pertains to Business Decisions?
Defines right or acceptable actions as those that maximize a particular person's self interest as defined by the Individual.
Describe Utilitarianism as it pertains to Business Decisions?
Defines right or acceptable actions as those that maximize total utility, or the greatest good for the greatest number of people.
Describe Deontology as it pertains to Business Decisions?
Focuses on the preservation of Individual rights and on the Intentions associated with a particular behavior rather than on Its consequences.
Deontological philosophies regard certain behaviors as inherently right, and the determination of this Tightness focuses on the individual actor, not society. Thus, these perspectives are sometimes referred to as nonconsequentialist, an ethics based on respect for persons.
Deontologists believe that individuals have certain absolute rights:
Freedom of conscience
Freedom of consent
Freedom of privacy
Freedom of speech
What do rule Deontologist believe?
Rule deontologists believe that conformity to general moral principles determines ethicalness. Deontological philosophies use reason and logic to formulate rules for behavior.
Describe Relativist as it pertains to Business Decisions?
Evaluates ethicalness subjectively on the basis of Individual and group experiences.
Describe Virtue Ethics as it pertains to Business Decisions?
Assumes that what Is moral In a given situation Is not only what conventional morality requires but also what the mature person with a "good" moral character would deem appropriate.
Describe Justice as it pertains to Business Decisions?
Justice valuates ethicalness on the basis of fairness: distributive, procedural, and Interactional.
What do Monist believe, as it pertains the concept of Goodness?
Monists believe that only one thing is intrinsically good, and the pluralists believe that two or more things are intrinsically good. Monists are often exemplified by hedonism—that one's pleasure is the ultimate intrinsic good or that the moral end, or goodness, is the greatest bal ance of pleasure over pain.
What is a Quantitative Hedonists?
Moral philosophers describe those who believe that more pleasure is better as quantitative hedonists
What do Qualitative hedonists believe?
Those who believe that it is possible to get too much of a good thing (such as pleasure) as qualitative hedonists.
What do Pluralist believe as it pertains to the concept of Goodness?
Pluralists, often referred to as nonhedonists, take the opposite position that no one thing is intrinsically good. For example, a pluralist might view other ultimate goods as beauty, aesthetic experience, knowledge, and personal affection.
What do Instrumentalists believe?
Instrumentalists reject the idea that (1) ends can be separated from the means that produce them and (2) ends, purposes, or outcomes are intrinsically good in and of themselves.
What is the difference between Goodness theories and Obligation theories
Goodness theories typically focus on the end result of actions and the goodness or happiness created by them, whereas obligation theories emphasize the means and motives by which actions are justified. These obligation theories are teleology and deontology, respectively.
What theories are Consequentialists associated with?
Teleological philosophies assess the moral worth of a behavior by looking at its consequences, and thus moral philosophers today often refer to these theories as consequentialist. Two important teleological philosophies that often guide decision making in individual business decisions are egoism and utilitarianism.
How do Enlighten Egoist view things as it pertains to the concepts of goodness?
Enlightened egoists take a long-range perspective and allow for the well-being of others although their own self-interest remains paramount. Enlightened egoists may, for example, abide by professional codes of ethics, control pollution, avoid cheating on taxes, help create jobs, and support community projects. Yet they do so not because these actions benefit others but because they help achieve some ultimate goal for the egoist, such as advancement within the firm.
How do Rule Utilitarians view things as it pertains to the concepts of goodness?
Utilitarians use various criteria to judge the morality of an action. Some utilitarian philosophers have argued that general rules should be followed to decide which action is best. These rule utilitarians determine behavior on the basis of principles, or rules, designed to promote the greatest utility rather than on an examination of each particular situation.
How do Act Utilitarians view things as it pertains to the concepts of goodness?
Other utilitarian philosophers have argued that the Tightness of each individual action must be evaluated to determine whether it produces the greatest utility for the greatest number of people. These act utilitarians examine a specific action itself, rather than the general rules governing it, to assess whether it will result in the greatest utility.
What do Act Deontologist believe?
Act deontologist hold that actions are the proper basis on which to judge morality or ethicalness. Act deontology requires that a person use equity, fairness, and impartiality when making and enforcing decisions. For act deontologists, as for act utilitarians, rules serve only as guidelines, with past experiences weighing more heavily than rules upon the decision-making process.
How does the Relativist Perspective view Ethical Decision Making?
From the relativist perspective, definitions of ethical behavior are derived subjectively from the experiences of individuals and groups. Relativists use themselves or the people around them as their basis for defining ethical standards, and the various forms of relativism include descriptive, metaethical, or normative
What is Descriptive relativism?
Descriptive relativism relates to observing cultures. We may observe that different cultures exhibit different norms, customs, and values and, in so doing, arrive at a factual description of a culture.
What do Metaethical relativists believe?
Metaethical relativists understand that people naturally see situations from their own perspectives and argue that, as a result, there is no objective way of resolving ethical disputes between value systems and individuals. Simply put, one culture's moral philosophy cannot logically be preferred to another because there exists no meaningful basis for comparison.
What do Normative relativist believe?
At the individual level of reasoning, we have normative relativism. Normative relativists assume that one person's opinion is as good as another's.
What is virtue Ethics?
Virtue Ethics posits that what is moral in a given situation is not only what conventional morality or moral rules require but also what the mature person with a "good" moral character would deem appropriate.
What is Distributive Justice Based on? How does it Evaluate Fairness?
Distributive justice is based on the evaluation of the outcomes or results of the business relationship. If some employees feel that they are paid less than their coworkers for the same work, then they have concerns about distributive justice. Distributive justice is difficult to develop when one member of the business exchange intends to take advantage of the relationship.
What is Procedural Justice Based on?
Procedural justice is based on the processes and activities that produce the outcome or results. Evaluations of performance that are not consistently developed and applied can lead to problems with procedural justice. For instance, employees' concerns about inequitable compensation would relate to their perception that the processes of fairness or justice in their company were inconsistent
What is Interactional justice based on?
Interactional justice is based on evaluating the communication processes used in the business relationship. Because interactional justice is linked to fairness in communication, it often involves the individual's relationship with the business organization through the accuracy of the information the organization provides.
What are considered White Collar Crimes?
Referred to as white-collar crimes (WCCs), these "crimes of the suite" do more damage in monetary and emotional loss in one year than the crimes of the street over several years combined.35
WCC creates victims by establishing trust and respectability. WCCs are often considered to be different than crimes of the street. It is interesting to note in Figure 6-1 that deceptive pricing, unnecessary repairs, and credit card fraud are the three victim categories that were found in the national public household survey of consumers reporting over their lifetime. The victims of WCC are often trusting consumers who believe that businesses are legitimate. Unfortunately, senior citizens and other disadvantaged consumers fall prey to WCC perpetrators.
1. Teleology defines right or acceptable behavior In terms of consequences for the individual.
YES or NO
No. That's egoism.
2. A relativist looks at an ethical situation and considers the Individuals and groups involved.
YES or NO
Yes. Relativists look at themselves and those around them to determine ethical standards.
3. A utilitarian is most concerned with the bottom-line benefits.
YES or NO
Yes. Utilitarians look for the greatest good for the greatest number of people and use a cost-benefit approach
4. Act deontology requires that a person use equity, fairness, and impartiality In making decisions and evaluating actions.
YES or NO
Yes. The rules serve only as guidelines, and past experience weighs more heavily than the rules.
5. Virtues that support business transactions include trust, fairness, truthfulness, competitiveness, and focus.
YES or NO
No. The characteristics include trust, self-control, empathy, fairness, and truthfulness—not competitiveness and focus
YOU MIGHT ALSO LIKE...
MCAT Behavioral Sciences | Kaplan Guide
Ethics Chapter 6
Business Ethics- Chapter 6
Individual Factors: Moral Philosophies and Values (Chapter 6) - LWC1 - Business Ethics
OTHER SETS BY THIS CREATOR
Business Law Glossary
Business Ethics Chapter 7
THIS SET IS OFTEN IN FOLDERS WITH...
Business Ethics Chapter 5
Business Ethics Chapter 3
Business Ethics Chapter 4
Business Ethics Chapter 4 Terms