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ethics
The system of rules that governs the ordering of values.
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ethical issue
Situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong.
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business ethics
The moral principles and standards that guide behabior in the world of business.
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moral philosophy
Principles, rules, and values people use in deciding what is right or wrong.
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universalism
The ethical system stating that all people should uphold certain values that society needs to function.
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caux principles
Ethical principles established by international executives based in Caux, Switzerland, in collaboration with business leaders from Japan, Europe, and the United States.
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egoism
An ethical system defining acceptable behavior as that which maximizes consequences for the individual.
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utilitarianism
An ethical system stating that the greatest good for the greatest number should be the overriding concern of decision makers.
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relativism
Philosophy that bases ethical behabior on the opinions and behaviors of relevant other people.
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virtue ethics
Perspectives that what is moral comes from what a mature person with "good"moral character would deem right.
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Kohlberg's model of cognitive moral development
Classification of people based on their level of moral judgment.
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Sarbanes - Oxley Act
An act that established strict accounting and reporting rules to make senior managers more accountable and to improve and mainain investor confidence.
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ethical climate
In an organization, the processes by which decisions are evaluated and made on the basis of right and wrong.
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ethical leader
One who is both a moral person and a moral manager influencing others to behave ethically.
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compliance - based ethics programs
Company mechanisms typically designed by corporate counsel to prevent, detect, and punish legal violations.
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integrity - basd ethics programs
Company mechanisms designed to instill in people a personal respnsibility for ethcial behavior.
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corporate social responsibility
Obligation toward society assumed by business.
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econmic reponsibilities
To produce goods nd services tha society wants at aprice that perpetuates the business and satisfies its obligations to investors.
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legal respnsibilities
To obey local, state, federal, and relevant international laws.
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ethical responsibilities
Meeting other social expectations, not writtn as law.
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philanthropic responsibilities
Additional behaviors and activities that society finds desirable and that the values of the business support.
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transcendent education
An education wth five higher goals that balance self - interest wth responsibility to others.
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ecocentric management
Its goal is the creation of sustainable economic develpment and improvement of quality of life worldwide for all organizational stakehoders.
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sustainable growth
Economic growth and develpment that meets present needs without harming the needs of future generations.
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