Flashcards in Chapter 1 Deck (31):
The study of what constitutes right and wrong, or good and bad, human conduct in a business context.
Any organization whose objective is to provide goods or services for profit.
Those who participate in planning, organizing, or directing the work of business.
A group of people working together to achieve a common purpose.
They concern behavior that is of serious consequence to human welfare, that can profoundly injure of benefit people.
Refers to the norms of correct conduct in polite society or, more generally, so any special code of social behavior or courtesy.
4 Kinds of Law
3) Common law
4) Constitutional law
Laws enacted by legislative bodies
Boards set up by legislatures whose functions include issuing detailed regulations covering certain kinds of conduct
Refers to the body of judge-made law that first developed in the English-speaking world centuries ago when there were few statutes
Refers to court rulings on the requirements of the Constitution and the constitutionality of legislation
Professional codes of ethics
The rules that are supposed to govern the conduct of members of a given profession
What influences what moral principles we accept?
our early upbringing, the behavior of those around us, the explicit and implicit standards of our culture, our own experiences, and our critical reflections on those experiences
Divine command theory
if something is wrong (like killing an innocent person for fun), then the only reason it is wrong is that God commands us not to do it
The theory that what is right is determined by what a culture or society says is right
"Is Business Bluffing Ethical?"
- argues that business is like a game and it has its own norms and rules that differ from those of the rest of society
Paradox of hedonism
Individuals who care only about their own happiness will generally be less happy than those who care about others.
Morality in the narrow sense
Concerns the principles that do or should regulate people's conduct and relations with others
Morality in the broad sense
Not just the principles of conduct that we embrace but also the values, ideals, and aspirations that shape our lives
Group cohesiveness requires that individual members "commit" themselves (relinquish some of their personal freedom in order to further organizational goals).
Happens when pressure for unanimity within a highly cohesive group overwhelms its member's desire or ability to appraise the situation realistically and consider alternative courses of action.
Diffusion of responsibility
Responsibility for what an organization does can become fragmented of diffused throughout the group, with no single individual seeing himself or herself as responsible for what happens
In emergencies, we seem naturally to let the behavior of those around us dictate our response
A group of statements, one of which (called the conclusion) is claimed to follow from the others (called the premises).
An argument whose premises logically entail its conclusion
One whose premises to not entail its conclusion
An example that is consistent with the premises but is inconsistent with the conclusion
Have true premises and valid reasoning
Have at least one false premise or invalid reasoning
Arguments whose conclusions are moral judgments