by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility
What is the role of individual values in the development of ethical standards? Ethics ultimately boils down to the individual values one applies in decision-making. Individual values can be explored by asking five important questions in situations of decision-making:...
by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility
What is the role or effect of legal regulation on ethics?Ethical values frequently become law and that legal regulation reflects ethical values.Ex. Civil Rights Act of 1964Legal regulation is a significant source of values for business. At least five major ethical...
by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility
What are two dominant theoretical approaches to ethics?Formalism and Consequentialism are theories in the study of ethics. They are not mutually exclusive and people adopt elements of both systems in making ethical choices.What is Formalism?A particular act is, in...
by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility
What is the role of ethics in law? Both ethics and law deal with right and wrong and foster social cooperation.Societys ethical values become law through legislation and we often associate complying with the law as ethically correct. That the state enforces law but...
by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility
What is the role or effect of society on ethics? Cultural pluralism and diversity hinder the development of a common system of personal ethics. Sociological factors lead to ethical concerns for society. Economic interdependence is a driving concern over business...
by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility
What is the role or effect of morality on ethics? Morality – is the collection of values that guides our behavior.It involves an understanding (of a societies view) of what is right and wrong and for justifying moral decisions. Businesses promote shared moral...
