Classical Philosophies and the Evolution of Business Ethics

This flashcard set includes key terms and definitions related to classical philosophies and the evolution of business ethics, aiding students in their exam preparation.

Eudaimonia

A Greek term meaning human flourishing or achieving a good and prosperous life.

Socratic Method

A form of cooperative argumentative dialogue between individuals, based on asking and answering questions to stimulate critical thinking and illuminate ideas.

Virtue Ethics

A philosophy that emphasizes the character of the moral agent rather than the consequences of specific actions or rules.

Self-knowledge

Understanding one's own character, values, abilities, and emotions, which Socrates believed was sufficient to achieve a good life.

Justice

The idea introduced by Plato which emphasizes doing one’s proper role for the good of all.

Distributive Justice

The ethical principle that states that employees believe their contributions to an organization should be commensurate with the outcomes they receive.

The Republic

A work by Plato that describes an ideal city-state governed by reason where rulers, guardians, and workers perform their roles in harmony.

Virtue (aretê)

Excellence in character, a central concept in virtue ethics which focuses on developing good traits.

Utilitarianism

A moral philosophy promoted by John Stuart Mill that advocates for actions that maximize happiness or benefit to society as a whole.

Sarbanes-Oxley Act

A law passed in 2002 in the US to tighten accounting controls and improve transparency following corporate scandals.