Business Law Ch 2

• The use of ethics and ethical principles to
• solve business dilemmas.

A question about how a person should behave that requires the person to reflect about the advantages and disadvantages of the optional choices for various stakeholders.

A simple tool to help determine whether an action is moral.

The study and practice of decisions about what is good or right.

The responsibility of firms doing business within a community to meet the expectations that the community imposes on them.

The groups of people affected by a firm’s decisions.

Positive abstractions that capture our sense of what is good and desirable.

A set of ethical guidelines that urges us to consider whom an action affects, the purpose of the action, and how we view its morality (whether by utilitarian ethics, deontology, etc.).