"Morality vs Ethics: Achieving Ethical Business", Quizzes of Business and Labour Law

Download "Morality vs Ethics: Achieving Ethical Business" and more Quizzes Business and Labour Law in PDF only on Docsity! TERM 1 Morality vs ethics End result of ethical examination DEFINITION 1 Morals are societys values--what is right and wrong Ethics are a systematic statement of morals and provide a rational method for examining our moral lives The end result of ethical examination is what philosophers call the good, the totality of our moral goals and objectives TERM 2 Ethical theories DEFINITION 2 Fundamentalism Absolutism Relativism Situational Ethics Utilitarianism greatest net benefits to societyAct Utilitarianism costs-benefits to society of that actRule Utilitarianism costs- benefits to society if everyone were to follow that same behavior (a rule for all) Deontology focus on duties/obligations Social Ethical Theories Egalitarian, Justice, Libertarian TERM 3 Achieving An Ethical Business Corporation (purpose, principles, moral) DEFINITION 3 The Purpose What is the organizations fundamental interest? Profit Quality products or services Service to Society The Principles/Core Values What are the organizations driving precepts? A good working environment for employees Provide value to customers Improve (not harm) the environment The Moral- How does organization determine what is right and wrong? TERM 4 Achieving An Ethical Business Corporation (obstacles, steps to take) DEFINITION 4 The Obstacles The emphasis on profit The effect of the group Steps to Take Involvement of top management Openness in Communication Take Time to Think about morality Do not Judge, but be Ready to be Judged TERM 5 What are your responsibilities beyond those to shareholders? DEFINITION 5 Corporation Employees Communities Customers Suppliers Shareholders Other (govt, environment, etc)