Kristu Jayanti College

Bangalore -560077

1. Business Ethics
A specialized study of moral right and wrong that
concentrates on moral standards as they apply to business
institutions, organizations, and behaviour.
2. Morality
The standards that an individual or a group has about what
is right and wrong or good and evil.
3. Moral Standards
The norms about the kinds of actions believed to be morally
right and wrong as well as the values placed on the kinds of
objects believed to be morally good and morally bad.
VALUES – are principles and guidance which are absolute in
nature and lead to an admirable and desirable level of
perfection in life.
Morality Ethics
1 Attributes of a 1 Attributes of a collective
personal character. social system where morals
are applied.
2 Personal code of 2 Social code of conduct.
conduct.
3 Expectation of an 3 Expectations of a group’s
individual behaviour behaviour.
4 Only personal 4 National ethics, Social ethics,
morality company ethics, professional
ethics
5 Usually unchanging 5 Depend on situations change.
(Ex: honesty)

4. Non-Moral standards
The standards by which we judge what is good or bad and
right or wrong in a non-moral way.
5. Normative Study
 An Investigation that attempts to reach conclusions about
what things are good or bad or about what actions are right
or wrong.
6. Descriptive Study
An investigation that attempts to describe or explain the
world without reaching any conclusions about whether the
world is as it should be.
7. Globalization
The worldwide process by which the economic and social
systems of nations have become connected.
8. Multinational Corporation
A company that maintains manufacturing, marketing,
service, or administrative operations in many different host
countries.
9. Ethical Relativism
A theory that there are no ethical standards that are
absolutely true and that apply or should be applied to the
companies and people of all societies.
10. Information Technology
The use of extremely powerful and compact computers, the
internet, wireless communications, digitalization, and
numerous other technologies that have enabled us to
capture, manipulate, and move information in new and
creative ways.
11.Cyberspace
A term used to denote the existence of information on an
electronic network of linked computer systems.
12.Nanotechnology
A new field that encompasses the development of tiny
artificial structures only nanometers (billions of a meter) in
size.
13.Genetic Engineering
A Large variety of new techniques that allows change in the
genes of the cells of humans, animals, and plants.
14.Moral Reasoning
 The reasoning process by which human behaviors,
institutions, or policies are judged to be in accordance with
or in violation of moral standards.
15. Law of agency
A law that specifies the duties of persons who agree to act
on behalf of another party and who are authorized by an
agreement so to act.
16.Prisoner’s dilemma
A situation where two parties must choose to cooperate or
not, and where both gain when both cooperate, but if only
one cooperates the other one gains even more, while if both
do not cooperate both lose.
17.Utility
The inclusive term used to refer to any net benefits produced
by action.
18.Ethics of care
An ethic that emphasizes caring for the concrete well being
of those near to us.
19.Ethics of virtue
An ethic based on evaluations of the moral character of
persons or groups.
20.Utilitarianism
A general term for any view that holds that actions and
policies should be evaluated on the basis of the benefits and
costs they impose on society.
21.Cost-Benefit Analysis
A type of analysis used to determine the desirability of
investing in a project by figuring whether its present and
future economic benefits outweigh its present and future
economic costs.
22.Efficiency
Operating in such a way that one produces a desired output
with the lowest resource input.
23.Non-economic goods
 Goods, such as life, love, freedom, equality, health, beauty,
whose value is such that no quantity of any economic good is
equal in value to the value of the non-economic good.
24.Instrumental goods
Things that are considered valuable because they lead to
other good things.
25.Intrinsic goods
Things that are desirable independent of any other benefits
they may produce.
26.Justice
Distributing benefits and burdens fairly among people.
27.Rights
Individual entitlements to freedom of choice and well-being.
28. Rule utilitarianism
The basic strategy of limiting utilitarian analysis to
evaluations of moral rules.
29. Legal right
An entitlement that derives from a legal system that permits
or empowers a person to act in a specified way or that
requires others to act in certain ways toward that person.
30. Moral rights
Rights that human beings of every nationality possess to an
equal extent simply by virtue of being human beings.
31.Negative rights
Duties others have to not interfere in certain activities of the
person who holds the right.
32.Positive rights
Duties of other agents(it is not always clear who) to provide
the holder of the right with whatever he or she needs to
freely pursue his or her interests.
33.Categorical imperative
The requirement that everyone should be treated as a fee
person equal to everyone else.
34. Maxim
The reason a person in a certain situation has for doing what
he or she plans to do.
35.Distributive justice
Distributing society’s benefits and burdens fairly.
36.Retributive justice
Blaming or punishing persons fairly for doing wrong.
37.Compensatory justice
Restoring to a person what the person lost when he or she
was wronged by someone.
38.Political Equality
Equal participation in, and treatment by, the political system.
39.Economic equality
Equality of income, wealth, and opportunity.
40.Puritan Ethic
The view that every individual has a religious obligation to
work hard at his calling (the career to which God summons
each individual)
41.work ethic
The view that values individual effort and believes that hard
work does and should lead to success.
42.Productivity
The amount a person produces.
43.Principle of equal liberty
The claim that each citizen’s liberties must be protected from
invasion by others and must be equal to those of others
44.difference principle
The claim that a productive society will incorporate
inequalities, but takes steps to improve the position of the
most needy members of society.
45.principle of fair equality of opportunity
The claim that everyone should be given an equal
opportunity to qualify for the more privileged positions in
society’s institutions.
46.Original position
An imaginary meeting of rational self-interested persons who
must choose the principles of justice by which their society
will be governed.
47. Veil of ignorance
 The requirement that persons in the original position must
not know particulars about themselves which might bias
their choices such as their sex, race, religion, income, social
status, etc.
48. Reversibility
Capable of being applied to oneself.
49.Universalizability
Capable of being applied equally to everyone.
50.Socialistic ethic
According to socialistic view of justice, “from each according
to his ability, to each according to his needs” is the principle
of distributing a society’s burdens and benefits respectively.
51.Capitalistic ethic
Justice based on contribution – Benefits should be distributed
according to the value of the contribution the individual
makes to a society, a task, a group, or an exchange.
52. Communitarian ethic
An ethic that sees concrete communities and communal
relationships as having a e fundamental value that should be
preserved and maintained.