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Week 2 Review
Chapter 3 & 4
| Term | Definition |
|---|---|
| Business Ethics | A branch of philosophy that deals with values relating to the nature of human conduct and values associated with that conduct. |
| Positive Law | If an act is legal, then it is moral. |
| Natural Law | Higher standards of conduct than positive law. Must be followed even if against codified law. Can be legal but unethical. |
| Kant's Categorical Imperative | We cannot use others in a way that gives us a one-sided benefit. Everyone must operate under the same usage laws. You need to be fair and also must want to do it for the right reasons. |
| The Contractarians and Justice | Locke and Rawls' theory of justice/social contract, universal standards developed that result in fairness. |
| Rights Theory | Also known as entitlement theory; everyone has a set of tights, and it is up to the government to protect them. |
| Ethical Egoism Theory | We should act in our own self-interest and only judge ourselves. |
| Utilitarian Theory | We should do the good for the most amount of people. |
| Moral Relativists | Standards should be based upon the circumstances, and there should not be predefined standards. |
| Plato and Aristotle, Virtue Ethics | Resolving ethical dilemmas requires training. |
| Stakeholder Standard of Behavior | Measures the impact of a decision on various groups and asks whether public disclosure of that decision is defensible. |
| The Importance of Trust | Capitalism succeeds because of trust. The reliance on promises produces good business relationships. |
| Business Ethics and Financial Performance | Those with the strongest value systems are more successful. |
| The Importance of a Good Reputation | A company's name and image, whether good or bad, can have a dramatic impact upon the ability to do business. |
| Public Policy, Law and Ethics | Complaints about a business lead to changes in the law and in corporate behavior. |
| Ethical Behavior | Integrity and truthfulness, promise keeping, loyalty, doing no harm and maintaining confidentiality. |
| Blanchard and Peale Three-Part Test | Uses three questions to evaluate situations: Is it legal? Is it balanced? How does it make me feel? |
| The Front-Page-of-the-Newspaper Test | Evaluate whether you'd want your decision published to everyone. |
| Laura Nash Model | Requires examination of the dilemma from all perspectives. |
| Constitution | A written document establishing the structure of the government and its relationship to the people. |
| The Branches of Government | Tripartite government: Legislative, executive and judicial. Bicameral body: Senate and House of Representatives. |
| Delegated Powers | Powers expressly given to the national government by the Constitution. |
| Shared Powers | Powers that are held by both the national and state government. |
| Police Power of the States | The power to regulate for the general welfare, health, safety and morals of the people. |
| Prohibited Powers | There are certain things that the state and national government are prohibited from doing (post facto laws). |
| Express Federal Regulation | Federal law preempts any conflicting state law. |
| Silence of Congress | Can signify that Congress does not want a law on the matter. |
| Effect of Federal Deregulation | If Congress deregulates an industry, that doesn't mean the states can regulate it. |
| The Bedrock View | A strict constructionist view of the Constitution; believes its purpose is to state fundamental principles that don't change over time. |
| The Living-Document View | Our interpretation of the Constitution should change to reflect an evolving society. |
| Eclipse of the States | The center of gravity has shifted from the states to the nation. |
| Administrative Agencies | Have had a significant amount of power delegated to them. |
| The Commerce Clause Today | The U. S. Supreme Court has fond some areas Congress may not regulate and placed limitations on the commerce clause. |
| Financial Powers | Taxing Power and Spending Power. |
| When Due Process Rights Arise | Guarantee of protection against loss of property or rights without the chance to be heard. |
| Reasonable Classification | Depends on whether the classification bears reasonable relation to the wrong being remedied. |
| Improper Classification | Distinctions in business regulation, right to work, and right to enjoy property on the basis of race, national origin, or religion are invalid. |
| Privileges and Immunities | A person going into another state is entitles to make contracts, own property, and engage in business to the same extent as citizens of that state. |
| Protection of the Person | The Bill of Rights includes protections not expressly written into the Constitution. |
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EssiannaL
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