Chapter 3 Outline

Chapter 3 Outline - Business law ch.3 What is business...

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Business law ch.3 What is business ethics? Balancing the goals of profits with the values of individuals and society is the focus of business ethics. The law as the standard for business ethics. Codified/positive laws are laws created by governmental authority to determine the standard for ethical behavior. The notion of Universal Standards for Business Ethics Natural Law maintains a higher standard than codified laws. Civil disobedience occurs when natural law proponents violate positive law. The Standard of Situational Business Ethics or Moral Relativism Situational ethics or moral relativism is a flexible standard of ethics that permits an examination of circumstances and motivation before attaching the label of right or wrong to conduct. Stealing bread for a starving child. The Business Stakeholder Standard of Behavior Businesses have different constituencies, known as stakeholders, often with conflicting goals for the business. A downsizing, or reduction in workforce, would offer the shareholders of the company a boost in
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This note was uploaded on 05/04/2008 for the course MJ 021 taught by Professor Finucane during the Fall '08 term at BC.

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Chapter 3 Outline - Business law ch.3 What is business...

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