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;
10 Cards in this Set
- Front
- Back
Ethics
|
the study of how people should act; values and beliefs related to the nature of human conduct
|
|
Business Ethics
|
seeks to balance the values of society with the goal of profitable operation
|
|
Teleological ethical theories
|
focus on the consequences of a decision
|
|
Deontological ethical theories
|
focus on decisions or actions alone
|
|
Kantianism
|
applies the categorical imperative: judge an action by applying it universally
|
|
Modern rights theories
|
softens Kant's absolute duty approach, yet protects fundamental rights (a strength of the theory)
|
|
Justice theory
|
declares that a society's benefits and burdens should be allocated fairly among its members
|
|
Utilitarianism
|
maximizes utility for society as a whole by a cost-benefit analysis
|
|
Profit maximization
|
maximizes a company's long run within the limits of law
|
|
Business stakeholder standard of behavior
|
determines whether an act is, or is not, ethical by examining interest of stakeholders with regard to a particular business action
|