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7 Cards in this Set
- Front
- Back
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What are the Ethical Schools
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Kantian Ethics
Rawlsian Ethics Utilitarian Ethics |
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Kantian Ethics
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identified guiding principles of moral behavior based on the fundamental nature of human beings
• Says people are endowed with integrity, rationalism, and reason – thus people should be respected • Categorical Imperative (Kant’s principle) • Individuals should evaluate their actions in light of the consequences that would follow if everyone acted the same way • ie: you should not cheat on a test because if you did, the whole test would be meaningless |
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Utilitarian Ethics
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focuses on the consequences of an action by
• Determining which individuals will be affected • Cost/benefit analysis: an assessment of the negative and positive effects of alternative actions on these individuals (law and economics) • Choosing the action that will produce the maximum societal utility • Bentham & Mill: the philosophers “thou shalt act so as to generate the greatest good for the greatest number” • For example, utilitarianism would support drug-testing on humans because it can benefit many people. However, it deprives an individual of their rights and is morally unethical |
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Rawlsian Ethics
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Based on lowest person’s outcome and point of view
o Social Justice Theory • Put yourself in the position of the most vulnerable party |
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How do profit, law, and ethics interact?
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Firms must constantly balance ethics with profitability. Firms aim to achieve optimum profits whereby the maximum profits a firm can realize and is still within legal & ethical limits
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Sustainability Model for decision-makers
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Way of looking at decisions – do the ethical thing in all realms (profit, law, ethics)
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The Foreign and Corrupt Practices Act
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• A legislation passed in the 1970’s which prohibits business people from bribing foreign officials to secure advantageous contracts
• Payments can be made to minor officials legally to speed up the administration process • Accountants must keep detailed records and cannot make false statements to accountants or false entries • Penalties include fines up to $2 million |
