ADMS 1000 Chapter Notes - Chapter 10: Corporate Social Responsibility, Business Ethics, Liquor Control Board Of Ontario

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Natalie Guriel

Document Summary

While there is no universal definition of business ethics, the textbook generally defines it in a couple of ways: Ethics is the study of morality or moral judgments, standards, and rules of conduct. The notion of business ethics has been considered as comprising the rules, standards, principles, or codes giving guidelines for morally right behaviour in certain contexts. Models for making ethical decisions: utilitarian or end-point ethics. To determine if an action is right or wrong, one must examine the end result or likely consequences of an action: Intangible outcomes (happiness or friendship: utilitarian or end-point ethics. Must achieve the greatest amount of good for the greatest number of people. If achieved, then the action is ethical. Legal costs and damages due to lost lives in car accidents versus costs of car recalls with faulty parts. The difficulty in estimating or measuring relative benefits and costs to all stakeholders affected.