CHAPTER 36 Business Ethics and the Law

I. What is ethics?
Study of morality by exploring moral values
Does the ethical standard change depending on the situation?
Should it?
II. Law & Ethics
Is it enough just to ask whether something is legal or not?
Must also be ethical
III. The Moral Minimum- minimum needed to function- any violation is
prima facie- obvi wrong
Honesty-dont lie
Loyalty-by creating a relationship, expectation of respect
-can harm person if do not meet ex
Fully disclose info relevant to dealings
Keep confidential info secret
Avoid conflict of interest
Act in the best interests of the other party
Keeping Commitments- dont break promises
Doing No Harm-torts
Is there a duty beyond this minimum? Should there be?
IV. A Higher Standard: The duty to do good
Meet Unmet Needs
Basic needs that others have
Supplement the Role of Government
Govt cant do everything, charity does a better job than govt
The Golden Rule
Treat others like you want to be treated
The Platinum Rule?
Treat others like they want to be treated
Avoid Harm by Omission
If you can see potential for harm, you have a duty to fix it (no
bystanders)
Do people with special skills have more of a duty?

Yes- doctors, cpr

V. Moral Reasoning & Decision-making
I.D. the issues-define problems narrowly enough that you can analyze
them and influence the outcome
Which rules apply?-moral minimum components, degrees of certainty
or acceptance- some more generally accepted than others
Specific vs general
Nature, who owes what obligation
Analyze the facts/information-find relevant info, verify accuracy, infer
ApplyAre there any conditions?
Genuine lack of knowledge or freedom to act
How do you minimize conflicts?
Look for solutions- work out agreements, remove source of
conflict
Prioritizing
Evaluate the harm that may result from violation- degree and
probability
V. Relativism v. Pluralism
Culture affects solutions to issues, degrees of importance
Some things are universally condemmed
Plurality of ideals. Finite number of values. Each person has their own
set of values and pursuing them should be accepted