LEGL 2700 Chapter Notes - Chapter 2: Social Contract, Franchising, Consequentialism
15 Jan 2018
School
Department
Course
Professor
Document Summary
Chapter 2 | the role of ethics in decision making. 26-37, 40-43: 2 principal approaches to ethics: (1) formalism (2) consequentialism. Sarbanes-oxley act (sox): establishes "higher standards for corporate responsibility and governance" (2002: ceco: an executive who operates across business functions to hold the organization accountable for high ethical standards. Ethics and government: when business fails to make ethical decisions, gov. may step in, business leaders have incentive to promote integrity = limit further gov. regulation. Ethics and morality: morality: collection of values that guides our behavior. In society at large, the sharing of moral values promotes social cooperation = social control. Law sets only minimum standards acceptable to a society: 2 systems of ethics, formalism: approach to ethics that affirms an absolute morality (focus on individual rights, no justifications; duty-based view of ethics, duty: moral obligation. Focus is on the worth of the individual (ex. Bill of rights: kant and formalism, categorical imperative: act with consistent good intent.
