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14 Cards in this Set

  • Front
  • Back
A study and practice of decisions about what is good or right
Business ethics
application of ethics to the special problems and opportuuinities experienced by business people
Ethical dilemma
a problem about what a firm should do for which no clear right decision is available
Social responsibility of business
cosists of the expectations that the community imposes on firms doing business inside its borders
WPH process of ethical decision making
this approach offers future business managers some ethical guidelines or practical steps that provide a dependable stimilus to ethical reasoning in a business context
W.P.H. guidelines
Who(stakeholders) Consumers, owners or investors, management, emoployees, community, future generations
Freedom, security, justice, efficiency
Public disclosure, universalization, golden rule
positive abstractions that capture our sense of what is good or desirable
primary values
Freedom, security, justice, efficiency
1. to act without restriction from rules imposed by othres.
2. to possess the capacity or resources to act as one wishes
3. to escape the cares and demands of this world entirely
1. to possess the large-enough supply of goods and services to meet basic needs.
2. to be safe from those wising to interfere with your property rights
3. to achieve the psychological condition of self confidence to such an extent that risks are welcome.
1. to receive the products of your labor.
2. to treat all humans identically regardless of race class gender ate and sexual preference
3. to provide resources in proportion to need
1. to maximize the amount of wealth in society
2. to get the most from a particular output
3. to minimize costs
the many groups affected by the firm's decisions. owners or shareholders, employees, customers, management, the general community where the firm operates, future generations
ethical guidelines
1. the golden rule
2.public disclosure test
3.universalization test