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Chapter 4
N/A
11
Business
Undergraduate 3
10/14/2012

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Cards

Term
Business Ethics
Definition
Ethics in a business context; a consensus of what constitutes right or wrong behavior in the world of business and the application of moral principles to situations that arise in a business setting,
Term
Categorical imperative
Definition
A concept developed by the philosopher Immanuel Kant as an ethical guideline for behavior. In deciding whether an action is right or wrong, or desirable or undesirable, a person should evaluate the action in terms of what would happen if everybody else in the same situation, or category, acted the same way.
Term
Corporate social responsibility
Definition
The concept that corporations can and should act ethically and be accountable to society for their actions.
Term
Cost-benefit analysis
Definition
A decision-making technique that involves weighing the costs of a given action against the benefits of the action.
Term
Ethical Reasoning
Definition
A reasoning process in which an individual links his or her moral convictions or ethical standards to the particular situation at hand.
Term
Ethics
Definition
Moral principles and values applied to social behavior
Term
Moral minimum
Definition
The minimum degree of ethical behavior expected of a business firm, which is usually defined as compliance with the law.
Term
Principle or rights
Definition
The principle that human beings have certain fundamental rights.
Term
Stock buyback
Definition
Sometimes, publicly held companies use funds from their own treasuries to repurchase their own stock, with the result being that the price of the stock usually goes up.
Term
Stock options
Definition
A certificate that grants the owner the option to buy a given number of shares of stock, usually within a set time period.
Term
Utilitarianism
Definition
An approach to ethical reasoning in which ethically correct behavior is not related to any absolute ethical or moral values but to an evaluation of the consequences of a given action on those who will be affected by it.
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