Business Ethics and Social Responsibility Key Terms

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Key Concepts in Business Ethics

1. Terminal values: Preferences about desired end states.
2. Instrumental values: Preferences regarding the means to desired ends.
3. Procedural justice: Concerned that policies and rules are fairly applied.
4. Distributive justice: Concerned that people are treated the same regardless of personal characteristics.
5. Interactional justice: The degree to which others are treated with dignity and respect.
6. Cultural relativism: Suggests there is no one right way to behave; ethical behaviour is determined by its cultural context.
7. Ethical dilemma: A situation that, although offering potential benefit or gain, may be considered unethical.
8. Ethics training: Seeks to help people understand the ethical aspects of decision-making and to incorporate high ethical standards into their daily behaviour.
9. Code of ethics: A formal statement of an organization’s values and beliefs.
10. Corporate social responsibility: The obligation of an organization to serve its own interests and those of society.
11. Organizational stakeholder: Directly affected by the behaviour of the organization and hold a stake in its performance.
12. Zone of compliance:
13. Social responsibility audit: Assesses an organization’s accomplishments in the areas of social responsibility.
14. Individualism view: Ethical behaviour that advances long-term self-interests.
15. Ethical imperialism: An attempt to impose one’s ethical standards on other cultures.
16. Discrimination: Actively denies women and minorities the full benefits of organizational membership.
17. Organizational resources:
18. Socio-economic view:
19. Obstructionist strategy: Avoids social responsibility and reflects mainly economic priorities.
20. Proactive strategy: Meets all criteria of social responsibility, including
21. Values: Broad beliefs about what is appropriate behaviour.
22. Moral rights view: Ethical behaviour that respects and protects fundamental rights.
23. Universalism: Suggests ethical standards apply absolutely across all cultures.
24. Conflict of interest:
25. Ethics: Sets moral standards of what is good, bad, and right in one’s behaviour.
26. Utilitarian view: Ethical behaviour that delivers the greatest good to the majority.
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29. Customer confidence:
30. Classical view:
31. Justice view: Ethical behaviour that treats people impartially and fairly.
32. Accommodative strategy:
33. Whistleblower protection:
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