Refined 003 - ethics Flashcards
(19 cards)
What are the three ethical values?
Integrity, Honesty, Fairness
These values form the foundation of ethical behavior in various contexts.
Define Integrity.
Sticking firmly to a set of values.
Integrity is crucial in maintaining trust and credibility.
Define Honesty.
Truthfulness and trustworthiness.
Honesty is essential for effective communication and relationships.
Define Fairness.
Being just, equitable, and impartial.
Fairness ensures that everyone is treated equally and justly.
What are the elements of fairness according to Ferrell et al.?
Equality, Reciprocity, Optimisation
These elements contribute to a comprehensive understanding of fairness.
List the four levels of ethical issues.
Personal, Organisational, National, International
Ethical issues can arise at multiple levels affecting stakeholders differently.
What does Consequentialism judge ethics by?
Outcomes (maximise benefits).
This approach evaluates the morality of actions based on their results.
What is Deontology?
Ethics based on rights, rules, and duties.
Deontology emphasizes following moral rules regardless of the consequences.
What does Virtue Ethics focus on?
Character and moral behaviour.
This ethical framework centers around the virtues and moral character of individuals.
What is Integrated Ethical Decision-Making?
Combine Consequences, Duties, Virtue filters.
This approach seeks a balanced decision-making process that considers multiple ethical perspectives.
Define Diversity.
Presence of differences.
Diversity encompasses various dimensions including race, gender, and thought.
Define Equity.
Fair treatment and access.
Equity focuses on ensuring that everyone has access to the same opportunities.
Define Inclusion.
Welcomed, respected, valued.
Inclusion ensures that diverse individuals feel accepted and valued in a group.
List the three cases for DEI.
Business, Social Justice, Globalisation
These cases highlight the importance and relevance of DEI initiatives.
What does the Triple Bottom Line (TBL) consist of?
People – Planet – Profit
TBL emphasizes the need for businesses to focus on social and environmental responsibilities alongside profit.
Break down the TBL components.
People: Fair treatment, wellbeing
Planet: Reduce waste/pollution
Profit: Long-term value creation
Each component addresses different aspects of sustainability.
What are the four CSR strategies?
Obstructionist, Defensive, Accommodative, Proactive
These strategies reflect varying levels of corporate responsibility engagement.
What characterizes a Linear Economy?
“Take – Make – Dispose” (wasteful)
This model is criticized for its unsustainable practices and waste generation.
What is a Circular Economy?
Reuse, Repair, Recycle, Regenerate (closed loop)
This model aims to minimize waste and make the most of resources.
