Intro to Buisness ethics
This term refers to a set of standards governing behavior in both personal and professional spheres.
What is ethics?
This statement defines a company’s essential reason for being and its current core purpose.
What is a mission statement?
This theory argues that the most ethical choice produces the greatest good for the greatest number.
What is utilitarianism?
This framework evaluates companies based on Profit, People, and Planet.
What is the Triple Bottom Line?
In FACES, this step involves determining what happened, who was involved, and what laws apply
What is the Facts stage?
This distinction explains that law sets minimum requirements, while this concept involves voluntary conduct aligned with values.
What is the difference between legal and ethical responsibilities?
This statement outlines a desired future state, rather than present purpose
What is a vision statement?
This concept in Rawls’s theory removes personal bias to achieve fairness.
What is the veil of ignorance?
In stakeholder classification, this group includes employees who directly support operations
What are functional stakeholders?
In this stage, leaders consult experts, research, and precedent
What is the Consult stage?
This is the primary motivation for businesses to prioritize ethical behavior, tied to duties owed to
What is fulfilling fiduciary duties and maintaining honorable standards of conduct?
This element of organizational identity is intended to remain timeless and
What are core values?
This philosopher argued we must act on moral duty and treat people as ends, not means
Who is Immanuel Kant? (or What is deontology?)
Patagonia restructuring its business to prioritize the environment is an example of this
What is sustainability-focused CSR?
This describes a situation with two difficult choices, both with negative consequences.
What is an ethical dilemma?
This hallmark trait of a high-integrity corporate leader involves consistently demonstrating fairness toward clients.
What is consistently demonstrating fair treatment toward clientele?
This term describes when a company claims to be environmentally friendly but acts otherwise to save money.
What is lip service (or unethical decision-making)?
This theory emphasizes developing character traits like courage through practice
What is virtue ethics?
This term describes when a company claims to protect users but ignores harmful internal data
What is greenwashing?
This step is skipped when a company ignores ethical theories like utilitarianism or justice.
What is the Ethical Perspectives stage?
According to Jeff Van Duzer, this is the primary purpose God intended for business.
What is serving as a platform for meaningful labor
This concept is demonstrated when a company’s daily operations align with its mission, vision, and values.
What is integrity?
This theory focuses on fairness and equitable treatment of all parties.
What is justice theory (or social justice
This principle explains that ethical organizations do not treat all stakeholders exactly the same.
What is false? (or What is equitable—not
In the final step, this involves analyzing trade-offs and mitigating harm when not all stakeholders can be satisfied.
What is the Stakeholder/Strategy