Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
Ethics
|
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
Purpose Freedom, security, justice, efficiency How Public disclosure, universalization, golden rule |
|
values
|
positive abstractions that capture our sense of what is good or desirable
|
|
primary values
|
Freedom, security, justice, efficiency
|
|
freedom
|
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 |
|
security
|
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. |
|
justice
|
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 |
|
efficiency
|
1. to maximize the amount of wealth in society
2. to get the most from a particular output 3. to minimize costs |
|
stakeholders
|
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 |