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Ethics
| Term | Definition |
|---|---|
| Concepts that Shape the Law | Morals Ethics Law |
| Morals | Values that govern a society’s attitude toward right and wrong and toward good and evil Those fundamental values that tell us the difference between right and wrong in the first place |
| Ethics | An attempt to develop a means of determining what the moral values ought to be and for formulating and applying rules that enforce those values |
| what defines the legal rights and duties of the people | Ethics Values Morals Law |
| The Law | consists of rules of conduct the government of a society to maintain harmony, stability, and justice Provides a way to protect the people by enforcing these rights Draws the line between conduct that is permissible and that which is not allowed |
| Law of Peoples | human intuition will always give rise to positive moral laws that are global in scope common to everyone |
| Natural Law | Sees the law as originating from some objective, superior force that stands outside the everyday experience of most people Believes there exists an unbreakable link joining morality to the in a fundamental way |
| Positive Law | Believes that law comes from social institutions rather than from God Sees the law as originating from an outside source that has emerged within society |
| Ethical Theories | These are based on the premised assumption that everyone want to live ethical lives |
| Ethical relativism | there are no objective or absolute standards of right and wrong standards change from circumstance to circumstance also called subjective ethics |
| Situational ethics | argues that each of us can judge a person’s ethical decisions only by initially placing ourselves in the other person’s situation encourages people to look at others with tolerance and patience |
| Social contract theory | holds that right and wrong are measured by the obligations imposed on each individual by an implied agreement among all individuals within a particular social system people must give up certain freedoms |
| Utilitarianism | the morality of an action is determined by its ultimate effects Greatest good for the greatest number |
| Utilitarianism: Concern | Can be confused with Utility Thinking aka Cost Benefit thinking Looks only at corporate benefits and problems rather than the benefits and problems that will result for other outside the boardroom |
| Rational ethics | ethical values can be determined by a proper application of human reason Should establish universal rules of behavior that apply to all people at all times Also called objective ethics |
| Role model ethics | encourages people to pattern their behavior after admirable individuals whose activities provide examples of the proper way to act Provides concrete examples of how to behave |
| Ethical Character Traits | Honesty Compassion Integrity Fairness |
| Social Responsibility in the Business Sector | The traditional view of corporate culture says that privately owned corporations are created solely to make a profit for their shareholders The foremost job of any manager is to maximize profits |
| Reasons for Social Responsibility | Corporation offers limited liability to owners Corporation is considered an artificially created person Corporation can own property and bring lawsuits |
| Efforts to Promote Social Responsibility | Statutes now permit managers to consider factors other than profit in making decisions Economic well-being of the nation, the state, and the local community Interests of employees, consumers, and suppliers |
| The Relationship Between Law and Ethics | The law is needed because, although people know better, they do not always follow ethical principles Ethical principles can tell us what is right, but cannot stop us from doing wrong The law can punish us if we choose to do wrong |
Created by:
ksheek1
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