Ethics in Business and Moral Values

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30 Questions

Ethics in business is relative ❑ Some claim morality is relative to cultural values.❑ Truth: Universal moral principles exist beyond ______

culture

Ethics offers a common understanding of ______ and wrong.❑Examples: Murder is always wrong, cheating is always bad.

right

Relationship between ethics & business ◼ Business integral to society, subject to moral ______

rules

Ethics distinguishes morality from ______.◼ Legal doesn't always mean moral (e.g., capital punishment).

legality

Peter Drucker argues that “the enterprise is an organ of society & its actions have a decisive impact on the ______ scene.”

social

Moral Reasoning in Business ◼ Provides a framework for resolution of moral issues & problems.◼ Moral reasoning is a process in which ethical issues & problems are benchmarked against a moral standard so that moral judgment is made ______

possible

The Greek word “philos” means ______ and “Sophia” means WISDOM.

LOVE

Philosophy is the ______ of wisdom.

LOVE

Philosophy seeks to explain the ultimate cause of ______.

everything

Ethics is the philosophical science that studies the morality of human ______.

act

Cosmology studies the origin, evolution, and fate of the entire ______.

universe

Metaphysics studies the nature of the ______, the self, and the consciousness.

mind

The Greek word "ethos" means characteristic ______ of acting

way

The Latin word "mos" (or ______) means character or custom

mores

In philosophy, morality refers to the ______ of goodness or badness in a human act

quality

Ethics is sometimes called ______ philosophy

moral

Descriptive Ethics studies and describes the ______ of people, culture, or society

morality

Ethics is called Normative Science because in ethics we determine ______, ideals, standard or values

norms

Moral principle & values governing an individual or ______;

institution

Education is ______ as an instruction or training;

defined

Ethics stands for moral ______; art for beauty;

beauty

Human Acts are actions that proceed from the deliberate free ______ of man;

will

Ethics deals with the study of ______ order in the society;

moral

Moral values are essential for a ______ society;

solid

Human acts are classified into three main categories: good, evil, and _______ acts.

indifferent

An action is considered perfectly voluntary if it is performed with full _______ and full consent.

knowledge

Direct voluntary actions are those that are intended for their own _______ or as a means to an end.

sake

The moral principle involved in actions having two effects considers whether it is morally right to do an act which entails both good and bad _______.

consequences

The first condition for an action to be morally right is that the action must be morally good in _______.

itself

The third condition for an action to be morally right is that there must be a grave or sufficient _______ in doing the act.

reason

Explore the relationship between ethics and business, and the debate on whether morality is relative to cultural values. Learn about universal moral principles, the distinction between morality and legality, and how ethics provide a common understanding of right and wrong.

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