Business Ethics: Chapter 1 Terms

Refers to values, norms, beliefs, and expectations that determine how people within a culture live and act.

Ethics as a normative discipline that deals with norms, those standards of appropriate and proper ("normal") behavior. Norms establish guidlines or standards for determining what we should do, how we should act, what type of person we should be.

As practiced by many social scientists, provides a descriptive and empirical account of those standards that actually guide behavior, as opposed to those standards that should guide behavior.

Refers to aspects of ethics involving personal, individual decision making. "How should I live my life?" --basic question of morality.

The area of ethics that is concerned with how we should live together with others and social organizations ought to be structured. Social ethics involves questions of policital, economic, civic, and cultural norms aimed at promoting human well-being.

Those standards or guidlines that establiush appropriate and proper behavior. Norms can be established by such diverse perspectives as economics, etiquette, or ethics.

Those properties of life that contribute to human well-being and a life well lived. Ethical values would include such things as happiness, respect, dignity, integrity, freedom, companionship, health, etc.

Involves reasoning about what one ought to do.

Those beliefs that incline us to act or to choose in one way rather than another. We can recognize many different types of values: financial, religious, legal, historical, etc.

Involves reasoning that is aimed at establishing truth and therefore at what we ought to believe.

Generally, anyone who can be affected by decisions made within a business. More specifically, stakeholders are considered to be those people who are necessary for the functioning of a business.