EthicsLesson 1 of 2 in the course Ethics, Corporate Responsibility, and Sustainability

Business Ethics: Applied Ethics, Corporate Misconduct, Technology, and Responsibility

5 flashcards · 5 quiz questions · 5 match pairs · 5 fill-in sentences · English

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Summary

Ethics helps us think about how we act, make choices, and treat other people. This lesson introduces ethics, normative ethics, and business ethics, and explains how these ideas relate to decisions in organizations.

Ethics concerns how people should live and act, how they treat others, and how they make choices. It includes the moral principles and values people use to judge right and wrong, as well as the decision-making processes through which they put those principles into practice.

All flashcards

What is ethics?
Ethics concerns how people live and act, treat others, and make choices using moral principles and values.
What is normative ethics?
The field that asks how people should and ought to live and act.
What is business ethics?
Applied ethics that considers how values should guide conduct in real-world business situations.
What can corporate fraud illustrate?
Leaders’ decisions can harm employees, investors, and the broader economy.
Why can algorithms raise ethical concerns?
They can influence important decisions, and flawed or misused systems can harm people and communities.

Quiz questions

  1. What question is central to normative ethics?Answer: How should people live and act?
  2. A company considers customer privacy when deciding how to use collected data. What kind of ethical work is this?Answer: Applying ethical values to a practical business decision.
  3. What was the cited estimate of the 2008 subprime lending crisis’s cost to the global economy?Answer: More than $22 trillion.
  4. What harm can faulty algorithms used in mortgage qualification or criminal risk assessment cause?Answer: Discrimination against racial and low-income minorities.
  5. Which law was prompted in part by corporate misconduct and financial crises?Answer: The Sarbanes-Oxley Act.

Based on Principles of Management by David S. Bright, Anastasia H. Cortes, Eva Hartmann, K. Praveen Parboteeah, Jon L. Pierce, Monique Reece, Amit Shah, Siri Terjesen, Joseph Weiss, Margaret A. White, Donald G. Gardner, Jason Lambert et al. (OpenStax), licensed CC BY 4.0. Adapted into a summary, flashcards and quizzes.

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