Ethics in Business and Moral Values

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

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

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

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

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

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 ______

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

Philosophy is the ______ of wisdom.

Philosophy seeks to explain the ultimate cause of ______.

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

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

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

The Greek word "ethos" means characteristic ______ of acting

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

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

Ethics is sometimes called ______ philosophy

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

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

Moral principle & values governing an individual or ______;

Education is ______ as an instruction or training;

Ethics stands for moral ______; art for beauty;

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

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

Moral values are essential for a ______ society;

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

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

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

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 _______.

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

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