Business Ethics Flashcards
(70 cards)
Business Ethics
are the moral principles that act as guidelines for the way a business conducts itself and its transactions
Business
as a part of human society
interaction among institution and people
business should examine from the perspective of morality of actions and transactions
business ethics is part of human society
you cannot lived without business and everything is part of business
business is an interaction between instituition and people
communication
viewed and examine from the perspective of morality
implication of human conduct to business
nature of business
it is an old civilization
It is a part of human life
It is a complex enterprise that involves purchasing, manufacturing, marketing, advertising, selling and accounting
Businessman deals with supplier, customer, employeews and even competitors
importance of ethics in business
It creates common ground of understanding of what is good and bad in our human conduct. Without ethics what will happen?
Businessman sets their own standards, moral rules and moral principles.
Therefore, subjective morality comes in, wherein what is good for one is bad to others or vice versa
As business leaders, It needs profound examination of issues and problems regarding the flow of business activities
subjective morality
setting your own principle or standard
objective morality
common standard
myths about business ethics
M1- Ethics is a personal affair and not a public debatable matter
M2- Ethics and Business do not mix
M3- Ethics in Business is Relative
M4- Good Business means Good Ethics
M5- Business is a war
Relationship between Ethics and Business
Ethics plays a important role in business:
- Business is an integral part of human society. Therefore everyone is subjected to moral rules and moral valuation.
- What is legal may not necessarily be moral ( death penalty)
- Laws are insufficient. Ethics is inprinted in the heart of humanity
- Profits versus ethical consequences
- Business are not just created for profit, it also look into the interest of the common good.
the framework of moral reasoning
Step 1 Ethical issues/problem ( ex. Graft, sexual harassment, theft, bribery)
Step 2 reality check ( gravity of the offense, harm done, number of people affected)
Step 3 Moral Norm/company policy/ethicsl principles ( company rules, violation of rules)
Step 4 Moral judgement /decision/resolution (moral/immoral, legal/illegal)
the framework of moral reasoning
steps for us to have good decision making
characteristics of a good moral standard
1 One that looks the issue as something serious
2 It must be grounded on good moral arguments. A Good arguments is an arguments that always tell the truth
3 Should be objective not subjective
4 When violated, there is conscience.
requirements for good moral judgement
A good moral judgment must be logical
A good moral judgment must be based on facts and solid evidence
A good judgment must be based on sound and defensive moral principles
concept of moral responsibility
1 By nature, Man is a Rational Being. It means, man is capable of moral judgment.
2 Man id a Thinking Being. It means , man is aware of the consequences of his actions
3 Man is a Free Being, it means, man has the capacity to exercise his own choice
the disobedience made by Adam and Eve
Genesis 3: 1-13
Business Ethics as an applied branch of General Ethics
therefore it must be studied from the perspective of Philosophy.
the process of moral reasoning
involves the use of metaphysical terminologies and concepts in the light of philosophical abstraction.
philosophical background of business ethics
applies logical reasoning and moral standard
philosophical reasoning
guided by logical reasoning before making a decision
philosophy is interested with
reality
Human experience
It explains the ultimate cause of everything by the use of reason alone
Question/ inquiry
2 divisions of philosophy
Theoretical or speculative and practical philosophy
studies the truth to be known which is God, immortality, origin of universe
theoretical philosophy
