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Unformatted text preview: Chapter 2 Ethics Business Ethics o a branch of applied ethics o is the study and determination of right and good in business o Ethical questions apply to relationships among and between: o a business and its employees, its customers, and its owners o competing businesses o a business and society at large o businesses and countries at an international level o Law is strongly affected by moral concepts (ethics), but law and morality are not the same. o Legal acts may be immoral, illegal acts may be moral. Different ways to view ethics o Ethical FundamentalismCentral Authority Also called absolutism. Individuals look to a central authority or set of rules for guidance, e.g., the Bible, the Koran, the writings of Karl Marx. o Ethical RelativismIndividual Judgment A theory under which actions must be judged by what individuals subjectively feel is right or wrong for themselves. This requires one to judge another persons actions by first putting oneself into that persons situation....
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This note was uploaded on 03/30/2012 for the course BLAW 3201 taught by Professor Fry during the Spring '08 term at LSU.
- Spring '08
- Business Law