ADMS 3660 Study Guide - Midterm Guide: Corporate Social Responsibility, Business Ethics, Profit Maximization
23 Nov 2016
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Business ethics focuses on ethical issues that arise in commercial realm. Ethics is the study of morality referring to the standards that an individual or group has about what is right/wrong, good/evil. Violating rules of etiquette does not pose serious threat to human well-being that can profoundly hurt/benefit people. Moral standards also take precedence over other standards including self-interest. Moral standards are set by the quality of the arguments or the reasoning that supports them. Values are beliefs or standards that incline us to act or choose in one way rather than another. Core values are those beliefs and principles that provide us the ultimate guide in decision making. Value pluralism is the idea that often times when making a decision, there are many competing values which may be equally compelling in determining what to do (financial, religious, aesthetic, ethical etc)
