| What is ethics? | set of believes about what is right and what is wrong. |
| Moral code? | a statement about how people should behave within society |
| Morality: | Shared social conventions about right and wrong that become the basis for an established consensus |
| Virtue: | Habit that inclines people to do what is acceptable |
| Vice: | Habit of unacceptable behavior |
| Integrity | Acting in accordance with a personal code of principles |
| when does Inconsistency emerges when it comes to having integrity? | In a situation that conflicts with one’s moral standards |
| Morals : | Personal beliefs about right and wrong |
| Ethics | Standards or codes of behavior expected of an individual by a group to which the individual belongs |
| Law | System of rules, enforced by a set of institutions, that tells us what we can and cannot do |
| Supply chain sustainability | Developing and maintaining a supply chain that meets the needs of the present without compromising the ability of
future generations to meet their needs |
| Why Fostering Corporate Social Responsibility and Good Business Ethics Is Important | To gain the good will of the community |
| what are the Characteristics of a Successful Ethics Program? | Employees are willing to seek advice about ethics issues |
| who is that Corporate Ethics Officer? | Provides an organization with vision and leadership in the area of business conduct and he is Ideally a senior-level manager who reports directly to the CEO. |
| another name for the Corporate Ethics Officer? | corporate compliance officer |
| Responsibilities of corporate compliance officer | Ensuring compliance of ethical procedures |
| Code of ethics | Statement that:
Highlights an organization’s key ethical issues
Identifies the overarching values and principles important to the organization and its decision making |
| Organizational code of ethics should | Apply to its directors, officers, and employees |
| Four Common Approaches to Ethical Decision Making | Virtue ethics approach |
| Fairness approach | Common good approach |
| Virtue ethics approach | The ethical choice best reflects moral virtues in
yourself and your community. |
| Utilitarian approach | The ethical choice produces the greatest excess of
benefits over harm. |
| Common good approach | The ethical choice advances the common good. |
| Limitations of Various Approaches to Ethical Decision Making: Value ethics approach | • Does not provide a guide for action • Virtue cannot be worked out objectively, it depends on the circumstances |
| Limitations of Various Approaches to Ethical Decision Making :Utilitarian approach | Measuring and comparing the values of certain benefits and costs is difficult • Predict the full benefits and harm that result from a decision is difficult |
| Limitations of Various Approaches to Ethical Decision Making : Fairness approach | Decisions can be influenced by personal bias • Affected parties may consider the decision unfair |
| Limitations of Various Approaches to Ethical Decision Making :Common good approach | Arriving at a consensus becomes difficult • Some groups are required to bear greater costs than others |
