Business Ethics

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What does it mean to be a 'shareholder' of a business?
Having money invested in it and taking a share of its profits.
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What does the term 'stakeholder' mean in the context of business?
Being affected in some way by the business and the way it operates.
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Which ethical system advocates doing your duty just because it is the right thing?
Kantianism.
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Give an example of an issue where an employee might resort to 'whistle-blowing'.
E.g. when there is bullying or discrimination against employees, when health and safety is being ignored, when the company is being dishonest to the public, or many other situations.
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What is the name given to the idea that businesses should care about the impact they have on society?
Corporate social responsibility/
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How might 'consumerism' be defined?
A set of social beliefs that puts a high value on acquiring possessions.
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Which ethical system advocates calculating the greatest happiness for the greatest number in each situation and making a decision based on that?
Act utilitarianism.
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Which ethical system advocates having some general principles to use to enable achieving the greatest happiness for the greatest number?
Rule utilitarianism.
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Who wrote a book in 2004 called Business Ethics: A European Perspective.
Crane and Matten.
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Which economist claimed that the only duty a business has is to increase its profits for its shareholders?
Friedman.
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What is the name of the economic system that allows free competition and private ownership of the means of production?
Capitalism.
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What is meant by the term 'corporate social responsibility'?
Businesses taking a wider responsibility for the community and/or the environment.
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Other cards in this set

Card 2

Front

What does the term 'stakeholder' mean in the context of business?

Back

Being affected in some way by the business and the way it operates.

Card 3

Front

Which ethical system advocates doing your duty just because it is the right thing?

Back

Preview of the front of card 3

Card 4

Front

Give an example of an issue where an employee might resort to 'whistle-blowing'.

Back

Preview of the front of card 4

Card 5

Front

What is the name given to the idea that businesses should care about the impact they have on society?

Back

Preview of the front of card 5
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