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| the study and practice of decisions about what is good or right |
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| the application of ethics to the special problems and opportunities experienced by business people |
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| a problem about what a firm should do for which no clear, right decision exists |
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| social responsibility of business |
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| the expectations a community imposes on a firm doing business within its borders |
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| the WPH framework of ethical decision making |
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| ethical guidelines (practical steps) to making ethical decisions |
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| Whom would this decision affect? Stakeholders (consumers, owners/investors, mgmt, employees, community, future generations)) |
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| PURPOSE (Values); decisions should be made in pursuit of a particular purpose (an ethical end) freedom, security, justice, efficiency |
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| HOW (Guidelines); how to make ethical decisions; public disclosure, universalization, Golden Rule |
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| positive abstractions (ideas) that capture our sense of what is good or desirable |
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| How do we make ethical decisions |
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| The golden rule; public disclosure test; universalization test |
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| treat others as you would like them to treat you |
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| how would your decision change if the entire world knew your decision? how would people react? |
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| Think: if others were to follow my example, would the world be a better place? |
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