Business Ethics and Social Responsibility Key Terms
Classified in Philosophy and ethics
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Key Concepts in Business Ethics
- Terminal values: Preferences about desired end states.
- Instrumental values: Preferences regarding the means to desired ends.
- Procedural justice: Concerned that policies and rules are fairly applied.
- Distributive justice: Concerned that people are treated the same regardless of personal characteristics.
- Interactional justice: The degree to which others are treated with dignity and respect.
- Cultural relativism: Suggests there is no one right way to behave; ethical behaviour is determined by its cultural context.
- Ethical dilemma: A situation that, although offering potential benefit or gain, may be considered unethical.
- Ethics training: Seeks to help people understand the ethical aspects of decision-