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BUS223

Chapter One Key Terms

TermDefinition
Descriptive Ethics Social sciences like psychology and sociology that examine human decision making that provides an account of how and why people DO act
Ethical Values Those properties of life that contribute to human well being and a life well lived (i.e., happiness, respect, honesty, health, integrity)
Ethics [Greek: ethos] The values, norms, beliefs and expectations that determine how people within a culture live and act, and reflects on the standards by which people SHOULD live and act.
Morality Aspects of ethics involving personal/ individual decision-making
Normative Ethics Our reasoning about how we SHOULD act
Norms Standards/guidelines that establish proper behaviour. Norms can be established by diverse perspectives like economics, etiquette or ethics.
Personal Integrity One's completeness within themselves, often derived from the consistency or alignment of actions with deeply held beliefs
Practical Reasoning What one ought to do
Theoretical Reasoning What one ought to believe
Risk Assessment A process to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives
Stakeholders Anyone who can be affected by the decisions made within a business
Social Ethics The area of ethics that is concerned with how we should live together with others and how social organizations ought to be structured
Values Those beliefs that incline us to act in one way rather than another
Created by: 13rallie
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