Business Ethics Exam 100% Correct!!
Ethics - ANSWERThe values which an individuals uses to interpret whether any particular action is
considered acceptable or appropriate
Business Ethics - ANSWERThe collective value of a business organization that can be used to evaluate
whether the behavior of the collective members of the organization are considered acceptable and
appropriate
Individual Morals - ANSWER-Plays a significant role in determining one's ethics
-Is made up of: principles, character, and understanding consequences of actions
-Descriptive Ethics
-Analytical Ethics
-Normative Ethics - ANSWERTypes of Ethical Examinations
Descriptive Ethics - ANSWERSimply the presentation of facts related to an ethical dilemma
Analytical Ethics - ANSWERThe understanding of the reasons why a course of action took place that
have an ethical impact
Normative Ethics - ANSWER-The prescribed course of action that attempts to ensure that ethical
behavior will be followed in the future
-Presents information on what should be done in the future
-Ethical egoism
-Utilitarianism
-Sidgwick's dualism - ANSWERTeleological Frameworks
Ethical egoism - ANSWERThe belief that individuals will act in a way to benefit themselves if the net
result will generate positive results
Utilitarianism - ANSWERBelief that individual actions should provide the greatest good for the
greatest number of people
Sidgwick's dualism - ANSWERBridges the gap between ethical egoism and utilitarianism. Believed
that utilitarianism is the foundation of ethics. However, also believed that self interest can also be
part of an ethical foundation
Deontological Frameworks - ANSWERFocus on the duty or obligation in determining whether the
actions are right or wrong
-Existentialism
-Contractarianism
-Kant's ethics - ANSWERDeontological Frameworks
, Existentialism - ANSWERBelief that the only person who can determine right and wrong is the person
making the decision
Contractarianism - ANSWERBased on the belief that all individuals agree to social contract to be
members within a society (also called social contract theory)
Kant's ethics - ANSWERBased on the belief that the free will to make decisions must be converted
into universal will
-Fidelity
-Reparation
-Gratitude
-Justice
-Beneficence
-Self improvement
-Noninjury - ANSWERSeven Guiding Principles to Support Ethical Actions (be able to define each)
Lust
Gluttony
Greed
Envy
Pride
Sloth
Wrath - ANSWERSeven Deadly Sins of Human Behavior
Lust - ANSWERSexual desire
Gluttony - ANSWEROverindulgence
Greed - ANSWERExcessive desire for wealth, status, and power
Sloth - ANSWERLazy and indifferent about one's own actions
Wrath - ANSWERUncontrollable level of anger or rage
Envy - ANSWERJealousy
Pride - ANSWERThoughts of being superior to another person
Global Business Standards Codex: - ANSWERSummarizes eight major underlying principles in which
ethical behavior can be interpreted and evaluated
-Fiduciary
-Property
-Reliability
Ethics - ANSWERThe values which an individuals uses to interpret whether any particular action is
considered acceptable or appropriate
Business Ethics - ANSWERThe collective value of a business organization that can be used to evaluate
whether the behavior of the collective members of the organization are considered acceptable and
appropriate
Individual Morals - ANSWER-Plays a significant role in determining one's ethics
-Is made up of: principles, character, and understanding consequences of actions
-Descriptive Ethics
-Analytical Ethics
-Normative Ethics - ANSWERTypes of Ethical Examinations
Descriptive Ethics - ANSWERSimply the presentation of facts related to an ethical dilemma
Analytical Ethics - ANSWERThe understanding of the reasons why a course of action took place that
have an ethical impact
Normative Ethics - ANSWER-The prescribed course of action that attempts to ensure that ethical
behavior will be followed in the future
-Presents information on what should be done in the future
-Ethical egoism
-Utilitarianism
-Sidgwick's dualism - ANSWERTeleological Frameworks
Ethical egoism - ANSWERThe belief that individuals will act in a way to benefit themselves if the net
result will generate positive results
Utilitarianism - ANSWERBelief that individual actions should provide the greatest good for the
greatest number of people
Sidgwick's dualism - ANSWERBridges the gap between ethical egoism and utilitarianism. Believed
that utilitarianism is the foundation of ethics. However, also believed that self interest can also be
part of an ethical foundation
Deontological Frameworks - ANSWERFocus on the duty or obligation in determining whether the
actions are right or wrong
-Existentialism
-Contractarianism
-Kant's ethics - ANSWERDeontological Frameworks
, Existentialism - ANSWERBelief that the only person who can determine right and wrong is the person
making the decision
Contractarianism - ANSWERBased on the belief that all individuals agree to social contract to be
members within a society (also called social contract theory)
Kant's ethics - ANSWERBased on the belief that the free will to make decisions must be converted
into universal will
-Fidelity
-Reparation
-Gratitude
-Justice
-Beneficence
-Self improvement
-Noninjury - ANSWERSeven Guiding Principles to Support Ethical Actions (be able to define each)
Lust
Gluttony
Greed
Envy
Pride
Sloth
Wrath - ANSWERSeven Deadly Sins of Human Behavior
Lust - ANSWERSexual desire
Gluttony - ANSWEROverindulgence
Greed - ANSWERExcessive desire for wealth, status, and power
Sloth - ANSWERLazy and indifferent about one's own actions
Wrath - ANSWERUncontrollable level of anger or rage
Envy - ANSWERJealousy
Pride - ANSWERThoughts of being superior to another person
Global Business Standards Codex: - ANSWERSummarizes eight major underlying principles in which
ethical behavior can be interpreted and evaluated
-Fiduciary
-Property
-Reliability
