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CHAPTER 1

Business ethics (also known as corporate ethics) is a form of applied ethics or


professional ethics, that examines ethical principles and moral or ethical problems that can
arise in a business environment. ... As a corporate practice and a career specialization, the
field is primarily normative.
Business is the activity of making one's living or making money by producing or buying and
selling products (such as goods and services). Simply put, it is "any activity or enterprise
entered into for profit
Myth is a folklore genre consisting of narratives or stories that play a fundamental role in a
society, such as foundational tales or origin myths
Ethics or moral philosophy is a branch of philosophy that involves systematizing,
defending, and recommending concepts of right and wrong conduct.[1] The field of ethics,
along with aesthetics, concerns matters of value, and thus comprises the branch
of philosophycalled axiology.[2]
Morality Business ethics, more specifically, deals with the creation and application of
moralstandards in the business environment. Morals are judgments, standards and rules of
good conduct in the society. They guide people toward permissible behavior with regard to
basic values.
Moral reasoning applies critical analysis to specific events to determine what is right or
wrong, and what people ought to do in a particular situation. ... Moral reasoning typically
applies logic and moral theories, such as deontology or utilitarianism, to specific situations or
dilemmas.
In economics, the profit motive is the motivation of firms that operate so as to maximize
their profits. Mainstream microeconomic theory posits that the ultimate goal of a business is
to make money. ... Accordingly, businesses seek to benefit themselves and/or their
shareholders by maximizing profits.

CHAPTER 2

The philosophical background of business ethics. 2. Introduction Business Ethics as an


applied branch of General Ethics must be studied from the perspective of Philosophy. ... As
a science, Ethics is concerned with the analysis of the nature of the human conduct from the
point of view of morality
The field of ethics (or moral philosophy) involves systematizing, defending, and
recommending concepts of right and wrong behavior. Philosophers today usually divide
ethical theories into three general subject areas: meta ethics, normative ethics, and
applied ethics.
Normative ethics is the study of ethical action. It is the branch of philosophical ethics that
investigates the set of questions that arise when considering how one ought to act, morally
speaking.
Meta-ethics is the branch of ethics that seeks to understand the nature of ethical properties,
statements, attitudes, and judgments. Meta-ethics is one of the three branches of ethics
generally studied by philosophers, the others being normative ethics and applied ethics.
Descriptive ethics, also known as comparative ethics, is the study of people's beliefs
about morality.[1][self-published source]:26 It contrasts with prescriptive or normative ethics, which is
the study of ethical theories that prescribe how people ought to act, and with meta-ethics,
which is the study of what ethical terms and theories actually refer to. The following examples
of questions that might be considered in each field illustrate the differences between the
fields:
Ethical relativism is the theory that holds that morality is relative to the norms of one's
culture. That is, whether an action is right or wrong depends on the moral norms of the
society in which it is practiced. The same action may be morally right in one society but be
morally wrong in another.
Situational ethics or situation ethics takes into account the particular context of an act
when evaluating it ethically, rather than judging it according to absolute moral standards
Consequentialism is the class of normative ethical theories holding that
the consequences of one's conduct are the ultimate basis for any judgment about the
rightness or wrongness of that conduct. Thus, from a consequentialist standpoint, a morally
right act (or omission from acting) is one that will produce a good outcome, or consequence
A NON-CONSEQUENTIALIST Ethical Theory is a general normative theory of morality that
is not Consequentialist--that is, a theory according to which the rightness or wrongness of
an act, system of rules, etc. depends, at least in part, on something other than the (non-
moral) goodness or badness of the consequences
Actus Hominisor Act of Man; and (2) Actus Humanus or Human Act. Actus Hominis are
the actions that man does without the need of thinking. To put it plainly, these are the things
that man usually does—his everyday routine—and is based on humaninstinct.
With such gifts, man can make moral choices. There are two types of man'sactions: (1Actus
Hominis or Act of Man; and (2) Actus Humanus or Human Act.Actus Hominis are the
actions that man does without the need of thinking. ... This is where man's intellect and
freedom is essential.