Business Ethics.docx - Business Ethics 1 \u201cDo whatever produces the greatest good for the greatest number\u201d\u2026 = Utilitarianism 2 What is the

Business Ethics.docx - Business Ethics 1 “Do whatever...

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Business Ethics 1. “Do whatever produces the greatest good for the greatest number”… = Utilitarianism 2. What is the difference between ethics and morality? = Morality as something that’s personal and normative, whereas ethics is the standards of “good and bad” distinguished by a certain community or social setting. 3. Define morality. = Principles concerning the distinction between right and wrong or good and bad behavior. 4. Ethics and law overlap. This is called… area. = Grey area 5. Give one example of ethical company. = The body shop, explain! 6. Give 3 reason why business ethics is important. = Effective performance, good relationship (shareholder & stakeholder), avoid potential conflicts/harms, improved employee morale, customer loyalty, etc 7. What are 2 important elements in ethical values? = a. serves the ends of human well beings. b. is not personal and selfish.
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