Badm Ch 4

Front 1

Ethics

Back 1

a conception of right and wrong conduct. tells us whether our behavior is moral or immoral and deals with fundamental human relationships

Front 2

Ethical Principles

Back 2

are guides to moral behavior. basic rules of ethical and moral behavior preserve organized life everywhere

Front 3

Ethical Relativism

Back 3

holds that ethical principles should be defined by carious periods of time in history, a society's traditions etc.
meaning given to ethics would be relative to time, place, circumstance, and the person involved

Front 4

Business Ethics

Back 4

is the application of general ethical ideas to business behavior.
to be considered ethical, business must draw its ideas about what is ethical from the same sources as everyone else in society

Front 5

Why Should Business Be Ethical

Back 5

to meet demands of business stakeholders
to enhance business performance
to comply with legal requirements
to prevent or minimize harm
to promote personal morality

Front 6

U.S. Corporate Sentencing Guidelines

Back 6

which provide a strong incentive for businesses to promote ethics at work
The firm is responsible for the actions of its employees so if an employee committed wrongdoing the company is held liable at sentencing and if they took steps to educate and prevent unethical behavior their sentence will be much lighter

Front 7

Sarbanes-Oxley Act

Back 7

law seeks to ensure that firms maintain high ethical standards in how they conduct and monitor business operations
Executives have to vouch for the accuracy of a firms financial reports, strict rules for auditing firms

Front 8

Ethical Egoist

Back 8

me, self promotion, a focus on self interest to the point of selfishness and greed

Front 9

Conflict of Interest

Back 9

occurs when an individuals self interest conflicts with acting in the best interest of another

Front 10

Spirituality

Back 10

personal belief in a supreme being, religious organizations, or the power of nature or some other external, life guidance

Front 11

Stages of Moral Development

Back 11

Childhood: ego centered reasoning
Adolescence: ego centered reasoning
Early Adulthood: group centered reasoning
Adulthood: Society, Law centered reasoning
Mature Adulthood(2): principle centered reasoning
MA 2: universal principles of justice bs

Front 12

Virtue Ethics

Back 12

focuses on character traits that a good person should possess.
Based on a way of being and on valuable characteristics rather than on rules for correct behavior

Front 13

Utilitarian Reasoning

Back 13

basically cost-benefit decision making, if benefits outweigh costs than decision is ethical

Front 14

Human Rights

Back 14

basic human rights, rights to life, safety, free speech, freedom, being informed, due process, and property

Front 15

Justice

Back 15

justice exists when benefits and burdens are distributed equitably and according to some accepted rule.