BUSI 1600U Chapter Notes - Chapter 3: Corporate Social Responsibility, Socially Responsible Investing, Ethical Dilemma
Document Summary
Ethics: moral principles and values that govern human conduct. Ethical behaviour: behaviour that conforms to approved standard of social behaviour. Moral relativism: no universal moral truth but instead only people individual"s belief, perspectives and values. Situational ethics: decisions based on a specific situation instead of universal laws. Amoral behaviour: no sense of right/ wrong and no interest in the moral consequences of their action. Personal code of ethics: principles that guide the decision you make in your life. Ethical lapse: an error in judgement that produces a harmful outcome but not show a complete lack of integrity. Ethical dilemma - a moral problematic situation in which guiding moral principles cannot determine which course of action is right or wrong. Business ethics: ethical behaviour in a business context. Corporate code of ethics: a formal statement of the organization"s commitment to certain values regarding ethics and social issues.
