Bus 306 – Ethics Graded A+
Integrity ️refers to the appropriateness of a corporation's behaviour and its devotion to moral
guidelines acceptable to society such as honesty, fairness, and justice
Ethics of business ️the rules, standards, codes or principles that provide guidance for mora...
Bus 306 – Ethics Graded A+
Integrity ✔️refers to the appropriateness of a corporation's behaviour and its devotion to moral
guidelines acceptable to society such as honesty, fairness, and justice
Ethics of business ✔️the rules, standards, codes or principles that provide guidance for morally
appropriate behaviour in management decision making relating to the operation of the business
enterprises' and business' relationship with society
Corporate social responsibility (CSR) ✔️the way a corporation achieves a "balance" among its
economic, social, and environmental responsibilities in its operations so as to address stakeholder
expectations (not just making a profit or providing goods/services)
Sustainable development ✔️ensuring that resources are used in such a way that they will be available
for future generations
Triple-E bottom line (3Es) ✔️the evaluation of a corporation's performance according to a summary of
the 3 Es - economics, environment, and ethical - value the corporation adds or destroys
Triple-P bottom line (3Ps) ✔️the evaluation of a corporation's performance according to the 3Ps -
profits, planet, and people
Ethics of business ✔️rules, standards, codes, or principles that provide guidelines for morally right
behaviour and truthfulness in specific situations
Value judgements ✔️"subjective" evaluations of what is considered important
Moral standards ✔️the means by which individuals judge their actions and the actions of others. It
varies with individuals by culture, country, organization, and time
, Self-interest ethics ✔️individuals or corporations set their own standards for judging the ethical
implications of their actions; that means, only the individual's values and standards are the basis for
actions
Ethics of caring ✔️we should give attention to specific individuals or stakeholders who are
harmed/disadvantaged and their particular circumstances
Utilitarianism ✔️concerned with "happiness". Utilitarian believes the proper course of action is the one
that maximizes the overall "good" of the society
Universal rules ethic ✔️ensures that managers or corporations have the same moral obligations in
morally similar situations (not based on value judgements or self moral standards or self-interest ethics)
Individual rights ethics ✔️it relies on a list of agreed-upon rights for everyone that will be upheld by
everyone and that becomes the basis for deciding what is right, just, or fair
Economic efficiency ethic ✔️it judges the moral implications of a decision by its economic
consequences and provides the moral justification for a market system
Ethics of justice ✔️considers that moral decisions are based on a single value: justice
Procedural justice ✔️this involves the impartial application of rules or procedures
Compensatory justice ✔️stakeholders are compensated appropriately for wrongs or injustices they
have suffered, which can involve providing monetary payments
Retributive justice ✔️This form is concerned with punishing an individual or corporation in a way that
fits the offence but will be just and fair
Distributive justice ✔️There is concern for how all stakeholders are treated. They are treated the same
unless they differ in some relevant way
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