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Ethics
The study of good and evil, right and wrong, and just and unjust
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Business Ethics
The study of good and evil, right and wrong, and just and unjust actions in business
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Theory of Amorality
The belief that business should be conducted without reference to the full range of eithical standards, restraints, and ideals in society
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Theory of Moral Unity
Business actions are judged by the general ethical standards of society, not by a special set of more permissive standards.
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Reciprocity
A form of social behavior in which people behave supportively in the expectation that this behavior will be given in return.
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Realist School
A school of thought that rejects ethical perfection, taking the position that human affair will be characterized by flawed behavior and ought to be depicted as they are, not as we might wish them to be.
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Ethical Universalism
The theory that because human nature is everywhere the same, basic ethical rules are applicable in all cultures. There is some room for variation in the way these rules are followed.
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Ethical Relativism
The theory that ethical values are created by cultural experience. Different cultures may create different values and there is no universal standard by which to judge which values are superior
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Hypernorms
Master ethical principles that underlie all other ethical principles. All variations of theical principle must conform to them.
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Compensatory Damages
Payments awarded to redress actual, concrete losses suffered by injured parties.
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Punitive Damages
Payments in excess of a wronged party’s actual losses to deter similar actions and punish a corporation that has exhibited reprehensivle conduct.
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White-Collar Crime
A nonviolent economic offense of cheating and deception done for personal or corporate gain in the course of employment.
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Deferred Prosecution Agreement
An agreement between a prosecuter and a corporation to delay prosecution while the company takes remedial actions
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Nonprosecution Agreemetn
An agreement in which U.S. attorneys decline prosecution of a corporation that has taken appropriate steps to report a crime, cooperate, and compensate victims.
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Monitor
A person hired by a corporation to oversee fulfillment of conditions in an agreement to avoid criminal indictment
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Corporate Culture
A set of values, norms, rituals, formal rules, and physical artifacts that exts in a company
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Ethics and Compliance Program
A system of structures, policies, procedures, and controls used by corporations to promote ethical behavior andensure compliance with laws and regulations
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Compliance Approach
Training employees to follow rules in laws, regulations and policies
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Ethics Approach
Training employees to make decisions based on ethical values
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