Business Ethics - MIDTERMS

• an ancient Greek philosopher and scientist. He

  studied at the Academy of Plato for twenty (20) years where he

  became Plato’s student and colleague (Kenny & Amadio, 2024).

  His contribution paved the way for modern-day philosophy and science.

  Aristotle
• Aristotle's famous works

  Nichomachean Ethics, Methaphysics by Aristotle , On the Soul
• theories that emphasize one ' s character, habits, and virtues over actions. Committing “ good” acts is one thing, but to be a virtuous individual one must dedicate and incorporate the virtues to ones habits, perspectives, and life overall until it become a part of you.

  Virtue Ethics
• in Greek means “happiness ”. In Aristotelian Ethics, it means “The greatest good, ” where humans find it desirable for themselves (or as a goal), where humans are flourishing, satisfied with their productivity, and functioning well.

  Eudaimonia
• Confucius, also known as ____

  Kongzi
• It encompasses traits such as graciousness, magnanimity, and cultured behavior

  Virtuous Living: Junzi
• encompasses traits such as sincerity, truthfulness, and a constant mean, guiding individuals towards moral excellence and ethical behavior in navigating life's challenges

  Dao of Humanity
• emphasizing honesty, transparency, and integrity in all actions and interactions

  Sincerity and Truthfulness
• promotes balance and moderation in though, action, and behavior

  constant mean
• practicing fairness

  expediency (quan)
• Integrating virtue into business

  confucian business model
• the virtue of righteousness or doing what is morally right and just. 


  righteousness (Yi)
• emphasizes proper conduct and etiquette in social interactions

  Li (Propriety)
• the virtue of wisdom and understanding.

  Zhi (Wisdom)
• the virtue of sincerity and honesty in one's thoughts and actions.

  Xin (Sincerity)
• Theory of Morality advocates actions that foster happiness or pleasure and oppose actions that cause unhappiness or harm.
• proponent of Bentham's utilitarianism

  Jeremy Bentham
• it emphasizes the consequences or ultimate purpose of an act

  bentham's utility
• aimed to quantify happiness and good
• aimed to quantify happiness and good

  bentham's utilitarianism
• Bentham's utility function is measured in what?


  utils
• provides a reasoned basis for making judgements of value

  hedonic calculus
• States that actions are judged solely by their consequences and disregards character in utility of action.

  Bentham's Consequentialism
• who is the proponent of Mill's Utilitariansm

  John Stuart Mill
• New utilitarianism that underpins neoclassical economic principles

  Mill's Utilitarianism
• what one person finds harful another may find beneficial

  Mill's Harm Principle
• an ethical theory that says actions are good or bad

  according to a clear set of rules.

  Deontology
• Is something we are required to execute, regardless of whether we

  want to or not. The duty may have a personal or professional

  negative consequence attached to it, but as it is a requirement or

  obligation, it is absolute and/or imperative.

  Duty
• is a duty that is necessary to accomplish a specific goal. It is something that we do to achieve an end.

  Hypothetical Imperative
• is an unconditional rule or duty. Regardless of the impact on you that the decision may cause, the duty remains the same and must be done.

  Categorical Imperative
• It had to do with fairness.

  justice
• analyzes societal injustice and proposes

  solutions to address it. It is also presented as an

  alternative to the currently utilitarianism of the

  day. It is the idea of fairness extended beyond

  the individual to include the community.

  Theory of Justice
• a methodical approach to

  establishing a universal system of justice. He

  promoted a workable, scientifically validated

  form of government that would have political,

  social, and economic effects.

  Justice Theori
• A hypothetical scenario where responsible

  individuals are able to come to a contractual

  agreement over the allocation of resources in

  line with the ideas of justice as fairness.

  Original Position
• It is a state in which individuals assume they

  have no identity in terms of age, sex, race,

  education, income, physical attractiveness, or

  any other trait when they first arrive at their

  current position.

  Veil of Ignorance
• It is a requirement that states that everyone

  must approve the contract before it becomes

  operational.

  Unanimity of Acceptance