Business Law: Text & Exercises (MindTap Course List)
1
website, in whole or in part.
, Business Law: Text & Exercises (MindTap Course List)
Chapter 1
Table of Contents
Purpose and Perspective of the Chapter................................................................................................................ 2
Cengage Supplements .................................................................................................................................................. 2
List of Student Downloads ...................................................................................................................................... 2
Chapter Objectives ......................................................................................................................................................... 2
Key Terms ........................................................................................................................................................................... 2
What's New in This Chapter ........................................................................................................................................ 3
Chapter Outline ............................................................................................................................................................... 4
Discussion Questions ..................................................................................................................................................... 8
Additional Resources .................................................................................................................................................. 10
Cengage Video Resources ................................................................................................................................... 10
Appendix ......................................................................................................................................................................... 10
Generic Rubrics......................................................................................................................................................... 10
Standard Writing Rubric ....................................................................................................................................... 10
Standard Discussion Rubric ................................................................................................................................. 12
2
website, in whole or in part.
, Business Law: Text & Exercises (MindTap Course List)
Purpose and Perspective of the Chapter
The purpose of this chapter is to examine the relationship between law and ethics. The chapter
presents issues involved to determining the ethical responsibilities of businesses and provides
students a framework for analyzing and making ethical decisions.
Cengage Supplements
The following product-level supplements provide additional information that may help you in
preparing your course. They are available in the Instructor Resource Center.
• PowerPoint Deck
List of Student Downloads
Students should download the following items from the Student Companion Center to complete
the activities and assignments related to this chapter:
• PowerPoint Deck (without teaching notes, activities, or answers)
Chapter Objectives
The following objectives are addressed in this chapter:
1. Discuss how business can discourage unethical behavior
2. Explain the relationship between law and ethics
3. Compare duty-based ethics and utilitarian ethics
4. Identify ethical problems in the global context
Key Terms
business ethics: Ethics in a business context; a consensus of what constitutes right or wrong
behavior in the world of business and the application of moral principles to situations that arise
in a business setting.
categorical imperative: A concept developed by the philosopher Immanuel Kant as an ethical
guideline for behavior. In deciding whether an action is right or wrong, or desirable or
undesirable, a person should evaluate the action in terms of what would happen if everybody
else in the same situation, or category, acted the same way.
corporate social responsibility (CSR): The concept that corporations can and should act
ethically and be accountable to society for their actions.
cost-benefit analysis: A decision-making technique that involves weighing the costs of a given
action against the benefits of the action.
duty-based ethics: An ethical philosophy rooted in the idea that every person has certain duties
to others, including both humans and the planet. Those duties may be derived from religious
principles or from other philosophical reasoning.
ethical reasoning: A reasoning process in which an individual links his or her moral convictions
or ethical standards to the particular situation at hand.
3
website, in whole or in part.
, Business Law: Text & Exercises (MindTap Course List)
ethics: Moral principles and values applied to social behavior.
moral minimum: The minimum degree of ethical behavior expected of a business firm, which is
usually defined as compliance with the law.
outcome-based ethics: An ethical philosophy that focuses on the impacts of a decision on
society or on key stakeholders.
outsourcing: The practice by which a company hires an outside firm or individual to perform
work rather than hiring employees.
principle of rights: The principle that human beings have certain fundamental rights (to life,
freedom, and the pursuit of happiness, for example). A key factor in determining whether a
business decision is ethical under this theory is how that decision affects the rights of others,
such as employees, consumers, suppliers, and the community.
stakeholders: Groups, other than the company’s shareholders, that are affected by corporate
decisions. Stakeholders include employees, customers, creditors, suppliers, and the community
in which the corporation operates.
triple bottom line: The idea that investors and others should consider not only corporate
profits, but also the corporation’s impact on people and on the planet in assessing the firm. (The
bottom line is people, planet, and profits.)
utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related to
an evaluation of the consequences of a given action on those who will be affected by it. In
utilitarian reasoning, a ―good‖ decision is one that results in the greatest good for the greatest
number of people affected by the decision.
[return to top]
What's New in This Chapter
The following elements are improvements in this chapter from the previous edition:
• New chapter title and chapter-opening introduction scenario discussing recent
technology scandal involving finger-prick blood test kits
• New chapter organization and subheads throughout (including new headings for
―outsourcing‖ and ―corruption‖)
• New section on Making Ethical Business Decisions and new materials on Systematic
Approach: IDDR (―I desire to do right‖) that will be used throughout the text to analyze
ethics, including in all of the new ―A Question of Ethics‖ problems in the remaining
chapters.
o New ―Application of the IDDR Approach‖ subsection with step-by-step discussion
and sample scenario.
• 1 New Exhibit 3–1: An Analysis of Ethical Approaches to the
SampleDilemma (for new IDDR Approach)
o 1 New Term & Concept
• outsourcing
• 1 New Ethics Today feature—
4
website, in whole or in part.
1
website, in whole or in part.
, Business Law: Text & Exercises (MindTap Course List)
Chapter 1
Table of Contents
Purpose and Perspective of the Chapter................................................................................................................ 2
Cengage Supplements .................................................................................................................................................. 2
List of Student Downloads ...................................................................................................................................... 2
Chapter Objectives ......................................................................................................................................................... 2
Key Terms ........................................................................................................................................................................... 2
What's New in This Chapter ........................................................................................................................................ 3
Chapter Outline ............................................................................................................................................................... 4
Discussion Questions ..................................................................................................................................................... 8
Additional Resources .................................................................................................................................................. 10
Cengage Video Resources ................................................................................................................................... 10
Appendix ......................................................................................................................................................................... 10
Generic Rubrics......................................................................................................................................................... 10
Standard Writing Rubric ....................................................................................................................................... 10
Standard Discussion Rubric ................................................................................................................................. 12
2
website, in whole or in part.
, Business Law: Text & Exercises (MindTap Course List)
Purpose and Perspective of the Chapter
The purpose of this chapter is to examine the relationship between law and ethics. The chapter
presents issues involved to determining the ethical responsibilities of businesses and provides
students a framework for analyzing and making ethical decisions.
Cengage Supplements
The following product-level supplements provide additional information that may help you in
preparing your course. They are available in the Instructor Resource Center.
• PowerPoint Deck
List of Student Downloads
Students should download the following items from the Student Companion Center to complete
the activities and assignments related to this chapter:
• PowerPoint Deck (without teaching notes, activities, or answers)
Chapter Objectives
The following objectives are addressed in this chapter:
1. Discuss how business can discourage unethical behavior
2. Explain the relationship between law and ethics
3. Compare duty-based ethics and utilitarian ethics
4. Identify ethical problems in the global context
Key Terms
business ethics: Ethics in a business context; a consensus of what constitutes right or wrong
behavior in the world of business and the application of moral principles to situations that arise
in a business setting.
categorical imperative: A concept developed by the philosopher Immanuel Kant as an ethical
guideline for behavior. In deciding whether an action is right or wrong, or desirable or
undesirable, a person should evaluate the action in terms of what would happen if everybody
else in the same situation, or category, acted the same way.
corporate social responsibility (CSR): The concept that corporations can and should act
ethically and be accountable to society for their actions.
cost-benefit analysis: A decision-making technique that involves weighing the costs of a given
action against the benefits of the action.
duty-based ethics: An ethical philosophy rooted in the idea that every person has certain duties
to others, including both humans and the planet. Those duties may be derived from religious
principles or from other philosophical reasoning.
ethical reasoning: A reasoning process in which an individual links his or her moral convictions
or ethical standards to the particular situation at hand.
3
website, in whole or in part.
, Business Law: Text & Exercises (MindTap Course List)
ethics: Moral principles and values applied to social behavior.
moral minimum: The minimum degree of ethical behavior expected of a business firm, which is
usually defined as compliance with the law.
outcome-based ethics: An ethical philosophy that focuses on the impacts of a decision on
society or on key stakeholders.
outsourcing: The practice by which a company hires an outside firm or individual to perform
work rather than hiring employees.
principle of rights: The principle that human beings have certain fundamental rights (to life,
freedom, and the pursuit of happiness, for example). A key factor in determining whether a
business decision is ethical under this theory is how that decision affects the rights of others,
such as employees, consumers, suppliers, and the community.
stakeholders: Groups, other than the company’s shareholders, that are affected by corporate
decisions. Stakeholders include employees, customers, creditors, suppliers, and the community
in which the corporation operates.
triple bottom line: The idea that investors and others should consider not only corporate
profits, but also the corporation’s impact on people and on the planet in assessing the firm. (The
bottom line is people, planet, and profits.)
utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related to
an evaluation of the consequences of a given action on those who will be affected by it. In
utilitarian reasoning, a ―good‖ decision is one that results in the greatest good for the greatest
number of people affected by the decision.
[return to top]
What's New in This Chapter
The following elements are improvements in this chapter from the previous edition:
• New chapter title and chapter-opening introduction scenario discussing recent
technology scandal involving finger-prick blood test kits
• New chapter organization and subheads throughout (including new headings for
―outsourcing‖ and ―corruption‖)
• New section on Making Ethical Business Decisions and new materials on Systematic
Approach: IDDR (―I desire to do right‖) that will be used throughout the text to analyze
ethics, including in all of the new ―A Question of Ethics‖ problems in the remaining
chapters.
o New ―Application of the IDDR Approach‖ subsection with step-by-step discussion
and sample scenario.
• 1 New Exhibit 3–1: An Analysis of Ethical Approaches to the
SampleDilemma (for new IDDR Approach)
o 1 New Term & Concept
• outsourcing
• 1 New Ethics Today feature—
4
website, in whole or in part.
