Lecture 1 Flashcards
(17 cards)
What are the three characteristics of the philosophical way of thinking?
Rational, critical, broad.
What is the difference between ethics and morality?
Morality refers to a society’s shared moral beliefs, intuitions, norms, and values; ethics is the philosophical reflection on those moral beliefs.
With what are the ethics concerned?
Examining the internal coherence of our moral reasons and assessing the strengths and weaknesses of the reasons we use to justify how we live and organize our societies.
On which three levels do moral questions in business need to be analyzed?
Micro, meso, macro.
What is the micro-level about?
Moral decisions of individual consumers, employees, employers, and managers.
What is the meso-level about?
Moral decisions of companies, including their cultures, priorities, strategies, and policies.
What is the macro-level about?
Moral decisions related to the legal, political, and institutional frameworks within which micro and meso levels operate.
What are three reasons why IB students should know business ethics?
Philosophical skills and attitudes help make better business people.
Ideas about moral values, principles, and market design have societal impact.
As citizens, consumers, and academics, we have a duty to engage with these ideas and their justifications.
What are the three main ethical theories?
Consequentialist theories, deontological theories, virtue-ethical theories.
What is utilitarianism?
The view that utility is the only thing that matters morally and that we should maximize total utility and minimize harm.
What is consequentialism?
The idea that only the consequences of actions matter morally, and we should choose the alternative that produces the best overall outcome or “greatest good for the greatest number.”
What is deontology?
(Referred to as “ontology” in your notes) The view that one must do the right thing for the right reasons—fulfilling duties, respecting others’ rights, and acting according to moral principles.
What is Kant’s Categorical Imperative?
“Act only on maxims that you can will to become universal laws”—i.e., do something only if you’re okay with everyone else doing the same in the same situation.
How are companies considered from a deontological (ontological) perspective?
Good companies follow clear moral rules and respect basic human rights; bad companies break those rules and violate rights.
How are companies considered from a consequentialist perspective?
Good companies are those that generate the best consequences; bad companies generate the worst consequences.
What are virtue ethics about?
Becoming a good person by developing virtues (character traits) such as patience, generosity, diligence, and honesty.
What is “practical wisdom” according to Aristotle?
The idea that virtuous people automatically know how to deal with particular circumstances through cultivated moral insight.
