COB 218 Chapter Two – Flashcards
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Study and practice of decisions about what is good and right
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Ethics
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the use of ethics to solve a business dilemma
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business ethics
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when there is no clear right answer for what a company/person should do
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ethical dilemma
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sets of ethical guidelines that urges us to consider whom an action affects, the purpose of the action, and how we view it morally
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WH Approach
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expectations the community imposes on a business that operates within its boarders
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social responsibility of business
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positive attributions that capture what is good and desirable
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values
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what does the "W" stand for in the WH framework
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Who
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who are the customers, owners, investors, management, employees, community, of a business decision
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stakeholders
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what does the "H" stand for in the WH framework
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How
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what is the WHO part of the WH framework
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stakeholders
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a group of people affected by a firm's decisions
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stakeholders
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treat others the way you want to be treated
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the golden rule
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imagine that our actions are being broadcasted on national television
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public disclosure test
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if my decision were to be duplicated over and over again would that make the world a better place?
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universalization test
