Managerial Values Key Terms

applied ethics

the practical application of one's normative ethical theory to any variety of areas such as business, medicine, military, and society.

axiology

the study of value, whether ethical value, aesthetic value, economic value, or other ways of studying the worth of something

consequentialism

any ethical theory that focuses on the outcomes or consequences of ethical choices rather than on rules, principles, or virtues.

cultural relativism

the view that one's culture determines what is right and what is wrong and that there are no universal, cross-cultural moral norms

deontology

rule-based ethics

descriptive ethics

the study of a person's or group's moral thought or behavior. This way of studying ethics offers no evaluation or assessment of the rightness or wrongness of a particular behavior or way of thinking but merely describes the moral state of affairs.

Divine Command ethics

an ethical theory in which the definition of the morally good is that which is equivalent to God's will

ethical egoism

the view that moral good and bad are defined by the individual and his or her self-interest alone

ethical hedonism

the idea that "the good" is defined by pleasure. Pleasure is good; pain is bad

metaethics

the study of what is meant by ethical terms such as good, bad, right, and wrong

normative ethical relativism

the idea that relativism should be normative or the way things ought to be

normative ethics

a theory of morality that prescribes a certain way of thinking about ethical questions or gives an account of what makes certain behaviors obligatory

principlism

another name for a rule-based or deontological ethical theory.

relativism

the view that right and wrong, good and bad, and other moral notions are not objective, universal, and absolute but vary according to time, location, or situation.

shalom

Hebrew word meaning "completeness," "wholeness," or "overall welfare."

utilitarianism

a form of consequentialism in which the right action is that which maximizes the greatest happiness for the greatest number of persons or sentient beings

virtue theory

a theory of right and wrong that focuses on the kind of person one should be morally rather than on the kind of action one should perform