Business Ethics

These flashcards cover key concepts, definitions, and theories discussed in the lecture notes on business ethics.

Ethics

The study of morality and principles that govern a person's or group's behavior.

Morality

A system of beliefs about what is right and wrong or good and bad behavior.

Utilitarianism

An ethical theory that determines the rightness of an action based on its outcomes or results, specifically the amount of happiness or pleasure it produces.

Deontology

An ethical theory that emphasizes the importance of following moral rules or duties regardless of the consequences.

Social Justice Theory

A perspective that focuses on the fair distribution of goods among society's members.

Social Contract Theory

A theory that considers the mutual agreements between individuals and society or government regarding rights and duties.

Virtue Ethics

An ethical approach that emphasizes the nature and character of the moral agent rather than focusing on rules or consequences.

Moral Reputation

The perception of an individual's character based on their moral and ethical behavior.

Legal Compliance

Adhering to laws and regulations set forth by governing bodies.

Corporate Social Responsibility

The concept that businesses should consider the interests of society in their operations.