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Business Ethics
Business Ethics Concepts and Cases
25
Business
Undergraduate 3
09/17/2013

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Term
ethic of care
Definition
an ethic that emphasizes caring for the concrete well being of those near
Term
ethic of virtue
Definition
an ethic base on evaluations of the moral character of persons or groups.
Term
utilitarianism
Definition
a general term for any view that holds that actions and policies should be evaluated on the basis of the benefits and costs they will impose on society
Term
cost-benefit analysis
Definition
a type of analysis used to determine the desirability of investing in a project by calculating whether its present and future economic benefits outweigh its present and future economic costs.
Term
rule-utilitarianism
Definition
A form of utilitarianism that limits utilitarian analysis to evaluations of moral rules.
(ethical--the one the creates the most utility for everyone affected)
Term
legal rights
Definition
an entitlement that derives from a legal system that permits or empowers a person to act in a specified way or that requires other to act in a certain way
Term
moral rights
Definition
rights that all human beings everywhere possess to an equal extent simply by virtue of being human beings
Term
libertarian philosophers
Definition
believe that freedom from human constraint is necessarily good and that all constraints imposed by others are necessarily evil except when needed to prevent the imposition of greater human constraints
Term
robert nozick (libertarian)
Definition
believed the only moral right is the negative right to freedom which implies that restrictions on freedom are unjustified except to prevent greater restrictions on freedom.

-requires- private property, freedom of contract, free markets and the elimination of taxes to pay for social welfare programs

-since the freedom of one person always restricts the freedom of others, nozicks claim that restrictions on freedom are unjustified implies that freedom itself is unjustified
Term
distributive justice
Definition
requires distributing society's benefits and burdens fairly
Term
retributive justice
Definition
requires fairness when blaming or punishing persons for wrong doing
Term
compensatory justice
Definition
requires restoring to a person what the person lost when he or she was wronged by someone
Term
John Rawls
Definition
distribute by equal liberty, equal opportunity and needs of disadvantaged
Term
Principles of Distributive Justice
Definition
Fundamental- distribute benefits and burdens equally to equals and unequally to unequals
Egalitarian- distribute equal to everyone
Capitalist- distribute according to contribution
Socialist- distribute according to need and ability
Libertarian- distribute by free choices
Rawls- distribute by equal liberty, equal opportunity and needs of disadvantaged.
Term
Veil of ignorance
Definition
The requirement that persons in the original position must not know particulars about themselves which might bias their choices such as their sex, race, religion, income, social status, etc.
Term
Moral Virtue
Definition
an acquired disposition that is valued as part of the character of a morally good human being and that is exhibited in the persons habitual behavior
Term
Aristotle (moral virtue)
Definition
argued that a moral virtue is a habit that enables a human being to live according to reason. He argued that a person lives according to reason when the person knows and habitually chooses the reasonable middle ground between going too far and not going far enough in his feelings and actions.
Term
Virtue Theory
Definition
The theory that the aim of the moral life is to develop those general dispositions called moral virtues, and to exercise and exhibit them in the many situations that human life sets before us.
Term
unconscious moral decisions
Definition
comprise of our moral decisions
-made according to pyschologists, by the brains "X-system" using stored prototypes to automatically and unconsciously identify what it percieves and what it should do. Once identified the C system figures out what to do "Should I run?"
Term
moral intuitions
Definition
"hardwirded" moral reasoning and cultural influences; incest is wrong, harming by action is worse than harming by omission;harming as a means to a goal is worse than harming as a foreseen side effect; harming by physical contact is worse than harming without physical contact
Term
Requirements of contractual rights duties
Definition
*are created by specific agreements and conferred only on the parties involved
-require the parties know what they are agreeing to, no misrepresentation, nor duress or coercion, no agreement to an immoral act
Term
non economic goods
Definition
helath love beauty- cant be measured economically
Term
instrumental goods
Definition
things that are considered valuable because they lead to other good things
Term
intrinsic goods
Definition
things that are desirable independent of any other benefits they may produce
Term
communitarian ethic
Definition
an ethic that sees concrete communities and communal relationship as having a fundamental value that should be preserved and maintained.
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