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Business Law Today 2

Chapter 2

QuestionAnswer
Business Ethics Ethics in a business context; a consensus as to what constitutes right or wrong behavior in the world of business
Categorical Imperative A concept developed by the philosopher Immanuel Kant as an ethical guideline for behavior.
Corporate Social Responsibility The idea that corporations can and should act ethically and be accountable to society for their actions.
Cost-Benefit Analysis A decision-making technique that involves weighing the costs of a given action against the benefits of that action.
Ethical Reasoning A reasoning process in which an individual links his or her moral convictions or ethical standards to the particular situation at hand.
Ethics Moral principles and values applied to social behavior.
Moral Minimum The minimum degree of ethical behavior expected of a business firm, which is usually defined as compliance with the law.
Principle of Rights The principle that human beings have certain fundamental rights.
Utilitarianism An approach to ethical reasoning that evaluates behavior in light of consequences of that behavior for those who will be affected by it.
Created by: nicholashagler
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