Business Ethics Basics
What is business ethics?
Values and standards that guide behavior in business
What is the Blanchard and Peale test used for?
Evaluating ethical decisions
What is the purpose of a constitution?
To establish the structure of government and its relationship to the people
What are delegated powers?
Powers given to the national government by the Constitution
What is due process?
Protection from losing rights or property without a fair procedure
What is positive law?
The idea that if something is legal, it is considered moral.
What are the three questions in the Blanchard and Peale test?
Is it legal? Is it balanced? How does it make me feel?
How many branches of government does the U.S. Constitution create?
Three
What are shared powers?
Powers held by both federal and state governments.
What does equal protection mean?
Laws must treat people fairly and not discriminate
What is natural law?
A higher ethical standard that may exist beyond written laws.
What does the “Front-Page of the Newspaper Test” ask?
Would you be comfortable if your decision was made public?
Name the three branches of government
Legislative, executive, and judicial
What is police power?
The state’s power to regulate health, safety, welfare, and morals.
What does the Privileges and Immunities Clause allow citizens to do in other states?
Engage in business and own property like residents
What ethical theory focuses on doing the greatest good for the most people?
Utilitarian theory
What model requires examining an ethical issue from multiple perspectives?
Laura Nash Model
What is a bicameral legislature?
A two-house lawmaking body the Senate and House of Representatives
What principle states that federal law overrides conflicting state law?
Federal Supremacy
Do corporations receive some protections under the Bill of Rights?
YES
What ethical theory says people should act in their own self-interest?
Ethical egoism
What concept analyzes how decisions affect groups like employees, customers, and investors?
Stakeholder analysis
What article explains how the Constitution can be amended?
Article V
What clause allows Congress to regulate interstate commerce?
The Commerce Clause
What constitutional protection allows businesses to advertise and express opinions?