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Definition
| a set of moral principles or values that governs the conduct of an individual or group |
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Term
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Definition
-businesses organized in the united states are subject to its laws
-business persons owe a duty to act ethically in the conduct of their affairs
-not all ethical standards have been enacted as law
-law and ethics sometimes coincide
-law may permit certain behavior that seems unethical
-law may demand certain conduct that seems unethical |
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Term
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Definition
-fundamentalism
-utilitarianism
-rawls's social justice theory
-kantian ethics |
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Term
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Definition
-a person looks to an outside source or a central figure for ethical rules or commands
-critics argue that ethical fundamentalism does not permit people to determine right and wrong for themselves |
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Term
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Definition
a person must choose the action or follow the rule that provides the greatest good to society
critics argue that it is difficult to estimate the good that will result from different actions |
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Term
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Definition
- a person owes moral duties based on universal rules
- premise that people can use reasoning to reach decisions
-people should employ categorical imperative (golden rule) |
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Term
| kantian ethics universal rules based on |
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Definition
consistency - all cases are treated alike with no exceptions
reversibility - the actor must abide by the rule he or she uses to judge the morality of someone else's conduct
if one makes an exception for themself that exception applies to everyone
- hard to reach a consensus as to what the universal rules should be |
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Term
| rawls's social justice theory |
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Definition
- a person has a social contract with all others in society to obey moral rules that are necessary for people to live in peace and harmony
-fairness
-the least advantaged must receive special assistance
-veil of ignorance when chosing principles of justice
- criticism 1) establishing blind original position is impossible 2) many persons in society would choose not to maximize the benefit to the least advantaged persons |
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Term
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Definition
- a person must decide what is ethical based on their own feelings
- no universal ethical rules guide conduct
- some people think some things are ethical when they are not |
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Term
| theories of social responsibility |
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Definition
maximizing profits
moral minimum
corporate citizenship
stakeholder interest |
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Term
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Definition
- make profit avoid harm
- must avoid or correct social injury
- some laws enforce this |
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Term
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Definition
- theory that a business has a responsiblity to do good
- helping solve social problems
- owe a duty to promote the same social goals as do individuals |
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