MGMT 1040 Chapter Notes - Chapter 5: Moral Reasoning, Business Ethics, Individual And Group Rights

• School: York University
• Department: Management
• Course: MGMT 1040
• Professor: Hope Shamonda

Document Summary

Sexty, chapter 5: ethics of business: the theoreical basis: business ethics. The rules, standards, codes or principles that provide guideless for morally right behaviour and truthfulness in speciic situaions: value judgments. Subjecive evaluaions of what is considered important; based on how managers intuiively feel about goodness or rightness of various goals: moral standards. The means by which individuals judge their acions and the acions of others based upon accepted behaviour in society: ethical relaivism. The belief that ethical answers depend on the situaion and no universal standards or rules exists to guide or evaluate morality: self-interest ethic. Individuals or corporaions set their own standards for judging the ethical implicaions of their acions; only the individual"s values and standards are the basis for acions: personal virtues ethic. Individual or corporaion"s behaviour is based upon being a good person or corporate ciizen with traits such as courage, honesty, wisdom, temperance, idelity, integrity and generosity: ethic of caring.