Term
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Definition
| a consensus of what constitutes right and wrong behavior in the world of business and the application of moral principles to situations that arise in business setting |
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Term
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Definition
| in considering whether an action is right or wrong, desirable or undesirable, a person should evaluate the action in terms of what would happen if everybody else in the same situation acted the same way |
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Term
| corporate social responsibility |
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Definition
| the concept that corporations can and should act ethically and be accountable to society for their actions |
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Term
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Definition
| a decision-making technique that involves weighing the costs of a given action against the benefits of the action |
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Term
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Definition
| a reasoning process in which the individual examines the situation at hand in light of his or her moral convictions or ethical standards |
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Definition
| moral principles and values applied to social behavior |
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Definition
| the principle that human beings have certain fundamental rights (to life, liberty, and the pursuit of happiness) |
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Term
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Definition
| an approach to ethical reasoning in which correct behavior is based on an evaluation of the consequences of a given action on those who will be effected by it. (greatest good for the greatest number of people) |
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