Principles of Management Chapter 3

The system of rules that governs the ordering of values.

Situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong.

The moral principles and standards that guide behabior in the world of business.

Principles, rules, and values people use in deciding what is right or wrong.

The ethical system stating that all people should uphold certain values that society needs to function.

Ethical principles established by international executives based in Caux, Switzerland, in collaboration with business leaders from Japan, Europe, and the United States.

An ethical system defining acceptable behavior as that which maximizes consequences for the individual.

An ethical system stating that the greatest good for the greatest number should be the overriding concern of decision makers.

Philosophy that bases ethical behabior on the opinions and behaviors of relevant other people.

Perspectives that what is moral comes from what a mature person with "good"moral character would deem right.

Classification of people based on their level of moral judgment.

An act that established strict accounting and reporting rules to make senior managers more accountable and to improve and mainain investor confidence.

In an organization, the processes by which decisions are evaluated and made on the basis of right and wrong.

One who is both a moral person and a moral manager influencing others to behave ethically.

Company mechanisms typically designed by corporate counsel to prevent, detect, and punish legal violations.

Company mechanisms designed to instill in people a personal respnsibility for ethcial behavior.

Obligation toward society assumed by business.

To produce goods nd services tha society wants at aprice that perpetuates the business and satisfies its obligations to investors.

To obey local, state, federal, and relevant international laws.

Meeting other social expectations, not writtn as law.

Additional behaviors and activities that society finds desirable and that the values of the business support.

An education wth five higher goals that balance self - interest wth responsibility to others.

Its goal is the creation of sustainable economic develpment and improvement of quality of life worldwide for all organizational stakehoders.

Economic growth and develpment that meets present needs without harming the needs of future generations.