Business Ethics: Cultural Relativism, Egoism, Utilitarianism, Kant's Ethics

what is descriptive relativism?

the observation that different groups and cultures have different moral beliefs and values

what is normative relativism?

a moral theory stating there are no absolute universal moral standards; all moral standards are equal worth

what is egoism?

Rules for ethical thinking in business

1: consider other people’s well being

2: Think as a member of the business community, not as an isolated individual

3: Don’t depend solely on the law

4: Think of yourself and your company as part as society

5: Obey moral rules

6: Think objectively

7: Ask yourself: What sort of people would do such a thing?

8: Respect the customs of others, but not at the expense of your own ethics