Chapter 7 - ethical leadership exam 1

Individual Factors: Moral Philosophies and Values - mgt 4334

moral philosphy

The specific principles or values people use to decide what is right and wrong

economic freedom

A concept based on self-ownership, the right to choose, voluntary exchange, open markets, and clearly defined and enforced property rights

economic value orientation

Associated with values quantified by monetary means; according to this theory, if an act produces more economic value for its effort, then it should be accepted as ethical

idealism

A moral philosophy that places special value on ideas and ideals as products of the mind

realism

The view that an external world exists independent of our perceptions

monists

Believe only one thing is intrinsically good. ex. thinking water is the basic substance of the universe

hedonism

The idea that pleasure is the ultimate good, or the best moral end involves the greatest balance of pleasure over pain

quantitative hedonists

Those who believe more pleasure is better

qualitative hedonists

Those who believe it is possible to get too much of a good thing

pluralists

Often referred to as nonhedonists, take the opposite position that no one thing is intrinsically good

instrumentalists

Reject the ideas that (1) ends can be separated from the means that produce them and (2) ends, purposes, or outcomes are intrinsically good in and of themselves

goodness theories

Focus on the end result of actions and the goodness or happiness created by them

obligation theories

Emphasize the means and motives by which actions are justified, and are divided into the categories of teleology and deontology

teleology

Refers to moral philosophies in which an act is considered morally right or acceptable if it produces some desired result, such as pleasure, knowledge, career growth, the realization of self-interest, utility, wealth, or even fame

consequentialism

Teleological philosophies that assess the moral worth of a behavior by looking at its consequences

egoism

Defines right or acceptable behavior in terms of its consequences for the individual

enlightened egoism

A long-range perspective and allows for the well-being of others although their own self-interest remains paramount

utilitarianism

Seeks the greatest good for the greatest number of people

rule utiliatrians

Argue that general rules should be followed to decide which action is best

act utiliatrians

The rightness of each individual action must be evaluated to determine whether it produces the greatest utility for the greatest number of people

deontology

Refers to moral philosophies that focus on the rights of individuals and the intentions associated with a particular behavior rather than its consequences

nonconsquentialism

Regard for certain behaviors as inherently right, and the determination of this rightness focuses on the individual actor, not on society

categorical imperative

If you feel comfortable allowing everyone in the world to see you commit an act and if your rationale for acting in a particular manner is suitable to become a universal principle guiding behavior, then committing that act is ethical

rule deontologists

Conformity to general moral principles based on logic determines ethicalness

act deontologists

Hold that actions are the proper basis to judge morality or ethicalness

relativist perspective

Definitions of ethical behavior are derived subjectively from the experiences of individuals and groups

descriptive relativism

Relates to observations of other cultures

meta-ethical relativism

Proposes that people naturally see situations from their own perspectives, and there is no objective way of resolving ethical disputes between different value systems and individuals

normative relativism

The assumption that one person’s opinion is as good as another’s

virtue ethics

Argues that ethical behavior involves not only adhering to conventional moral standards but also considering what a mature person with a “good” moral character would deem appropriate in a given situation

justice

Fair treatment and due reward in accordance with ethical or legal standards, including the disposition to deal with perceived injustices of others

distributive justice

Based on the evaluation of the outcomes or results of a business relationship

procedural justice

Considers the processes and activities that produce a particular outcome

interactional justice

Based on the relationships between organizational members, including the way employees and management treat one another

kohlberg’s model of cognitive moral development (CMD)

Theory in which people make different decisions in similar ethical situations because they are in different moral development stages

white-collar crime

Crimes perpetrated every year by nonviolent business criminals

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