[MGSC14H3] - Midterm Exam Guide - Ultimate 20 pages long Study Guide!
Document Summary
Altruistic an ethical doctrine that holds that the moral value of an individual"s actions depend solely on the impact on other individuals, regardless of the consequences on the individual itself. An ethical doctrine that holds that individuals have a moral obligation to help, serve or benefit others, if necessary at the sacrifice of self interest. If these two criteria are fulfilled, then the practice is considered as ethical. Businesses can manipulate the law by lobbying. Corporate social responsibility approach (tweak to the neoclassical approach): Insurance gets annoyed with it, one day it will be regulated. Even if something is legal now, it may not be in the future. In the lr, a business will be rewarded for doing the right thing. If the answer to the question is yes, then it"s unethical. E. g. , white owner of a restaurant does not serve blacks.
