MGMT 200 Lecture Notes - Lecture 4: Kantian Ethics, Contract, Categorical Imperative
Document Summary
Short-run profit maximization- argues that a business" only goal should be to maximize profit. Kantian ethics- belief that general guiding principles for moral behavior can be derived from human nature. Categorical imperative- rightness or wrongness of an action is judged by estimating the consequences that would follow if everyone in a society performed the act under consideration. Principle of rights- belief that every duty gives rise to a corresponding right, deeply embedded in western culture. Utilitarianism- an action is ethical based on whether it produces the greatest good for the greatest number of people upon which it has an effect. Corporate social responsibility-the idea that those who manage corporations should be accountable to society for their actions. Corporate citizenship- promote goals that society considers worthwhile and take positive steps toward solving problems. Common law for all contracts except sales and leases. For breach of which, the law provides a remedy, or.
