Ethics in Business and Moral Values

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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 Signup and view all the answers

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

social Signup and view all the answers

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 Signup and view all the answers

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

LOVE Signup and view all the answers

Philosophy is the ______ of wisdom.

LOVE Signup and view all the answers

Philosophy seeks to explain the ultimate cause of ______.

everything Signup and view all the answers

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

act Signup and view all the answers

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

universe Signup and view all the answers

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

mind Signup and view all the answers

The Greek word "ethos" means characteristic ______ of acting

way Signup and view all the answers

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

mores Signup and view all the answers

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

quality Signup and view all the answers

Ethics is sometimes called ______ philosophy

moral Signup and view all the answers

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

morality Signup and view all the answers

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

norms Signup and view all the answers

Moral principle & values governing an individual or ______;

institution Signup and view all the answers

Education is ______ as an instruction or training;

defined Signup and view all the answers

Ethics stands for moral ______; art for beauty;

beauty Signup and view all the answers

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

will Signup and view all the answers

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

moral Signup and view all the answers

Moral values are essential for a ______ society;

solid Signup and view all the answers

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

indifferent Signup and view all the answers

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

knowledge Signup and view all the answers

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

sake Signup and view all the answers

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 Signup and view all the answers

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

itself Signup and view all the answers

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

reason Signup and view all the answers