MGMT 1040 Study Guide - Final Guide: Ethics, Moral Treatment, Moral Rights
18 Mar 2014
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The ethics of management- notes. Logical conviction of others is key: people"s moral standards always differ, economic theory: normative theory of society. Factor markets: technology of the producing firm determines the maximum output of goods/services. Factor owners: demand for each factor of product equals the proportion of that factor used in the production function. The law in democratic society can be said to represent the minimal moral standards of that society. Both economic outcomes and legal requirements for a society are based upon the enlightened self- interests of members of that society. Law- a consistent set of universal rules that are widely published, generally accepted, and usually enforced. If any disobedience, member will suffer from loss of convenience, time, money, freedom, or life. The law as collective moral standards. A person who violates the federal law against bank robbery also violates the moral standard against theft). However, there are some laws that have no ethical content.
