ECN 102 Lecture Notes - Lecture 1: Ethical Egoism, Business Ethics, Egotism
Document Summary
Ethics: the study of morality. derived from the greek ethos, (cid:373)ea(cid:374)i(cid:374)g (cid:862)(cid:272)usto(cid:373)ar(cid:455)(cid:863) or (cid:862)(cid:272)o(cid:374)(cid:448)e(cid:374)tio(cid:374)al. (cid:863) to reject simple conformity and to seek reasoned analysis of custom and reasoned defense of how we ought to live. Ethos: to (cid:272)o(cid:374)for(cid:373) to (cid:449)hat is t(cid:455)pi(cid:272)all(cid:455) do(cid:374)e, to o(cid:271)e(cid:455) the (cid:272)o(cid:374)(cid:448)e(cid:374)tio(cid:374)s a(cid:374)d rules of o(cid:374)e"s so(cid:272)iet(cid:455) a(cid:374)d religion: the difference between what is valued and what ought to be valued is the difference between ethos and ethics. Morality: refers to the standards that an individual or group has about what is right or wrong. Business ethics: a specialized study of moral right or wrong. It concentrates on moral standards as they apply to business policies, institutions, and behaviour. Are strong ethical values good for business: the only reasonable answer is that sometimes they are and sometimes they are not. Making a responsible decision: begin with a fair and accurate understanding of the situation.
