BLAW 2200 Chapter 2
Ethics - Answer The study and practice of decisions about what is good or right
Business Ethics - Answer the application of ethics to the special problems and opportunities
experienced by business people. not a set of correct decisions
Ethical Dilemma - Answer A problem about what a firm should do for which no clear, right
decision is available
Social responsibility of business - Answer Expectations that the community imposes on firms
doing business inside its borders
Legality of a decision - Answer The minimal standard that must be met. the minimum can
evolve with new technology, emerging demographic patterns, continuing growth in empathy for
marginalized voices in our country
WH Approach - Answer A set of ethical guidelines that urges us to consider whom an action
affects, the purpose of an action, and how we view its morality.
Ethical guidelines - Answer (practical steps) that serve as a dependable stimulus to ethical
reasoning in business context
Values - Answer positive abstractions that capture our sense of what is good and desirable.
We derive our ethics from the interplay of this.
Freedom - Answer 1. To act without restriction from rules imposed by others
2.To possess the capacity or resources to act as one wishes
3. To escape the cares and demands of this world entirely
Security - Answer 1.To possess a large-enough supply of goods and services to meet basic
needs
2. To be safe from those wishing to interfere with your property rights
3.To achieve the psychological condition of self-confidence to such extent that risks are
welcome.
Justice - Answer 1. To recieve the products of your labor.
2. To treat all humans identically.
Ethics - Answer The study and practice of decisions about what is good or right
Business Ethics - Answer the application of ethics to the special problems and opportunities
experienced by business people. not a set of correct decisions
Ethical Dilemma - Answer A problem about what a firm should do for which no clear, right
decision is available
Social responsibility of business - Answer Expectations that the community imposes on firms
doing business inside its borders
Legality of a decision - Answer The minimal standard that must be met. the minimum can
evolve with new technology, emerging demographic patterns, continuing growth in empathy for
marginalized voices in our country
WH Approach - Answer A set of ethical guidelines that urges us to consider whom an action
affects, the purpose of an action, and how we view its morality.
Ethical guidelines - Answer (practical steps) that serve as a dependable stimulus to ethical
reasoning in business context
Values - Answer positive abstractions that capture our sense of what is good and desirable.
We derive our ethics from the interplay of this.
Freedom - Answer 1. To act without restriction from rules imposed by others
2.To possess the capacity or resources to act as one wishes
3. To escape the cares and demands of this world entirely
Security - Answer 1.To possess a large-enough supply of goods and services to meet basic
needs
2. To be safe from those wishing to interfere with your property rights
3.To achieve the psychological condition of self-confidence to such extent that risks are
welcome.
Justice - Answer 1. To recieve the products of your labor.
2. To treat all humans identically.
