Uploaded by Beth Meyers

BUSINESS LAW CHAPTER 2

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BUSINESS LAW CHAPTER 2
BUSINESS ETHICS /CORPORATE SOCIAL RESPONSIBILITY-a process with
the aim to embrace responsibility for the company's actions and encourage a
positive impact through its activities on the environment, consumers,
employees, communities, stakeholders and all other members of the public
sphere who may also be considered stakeholders
CATEGORICAL IMPERATIVE- an
unconditional moral
obligation that is binding in all circumstances and
is not dependent on a person's inclination or
purpose
Utilitarianism-
an ethical philosophy in which the
happiness of the greatest number of people in the society is
considered the greatest good; an action is morally right if its
consequences lead to happiness, and wrong if it ends in
unhappiness
Moral Relativism- the view that moral
judgements are true or false only relative to
some particular standpoint and that no
standpoint in uniquely privileged over all others
Kantian Ethics-refers to a deontological ethical theory
ascribed to the philosopher Immanuel Kant; focused on the
rightness or wrongness of actions in and of themselves, rather
than on the consequences of those actions
Corporate Philanthropy-the act of a corporation
or business promoting the welfare of others,
generally via charitable donations of funds or time
given to nonprofit organizations
Torts-a wrongful act or infringement of a right leading to civil legal liability
Greening-refers to a business that is functioning in
the capacity where no negative impact is made on
the local or global environment, the community, or
the economy
Corporate Governance-the system of rules,
practices, and processes by which a company is
directed and controlled; essentially involves balancing
the interest of the many stakeholders in a company
Diversity-a mixed workforce that provides a
wide range of abilities, experiences,
knowledge, and strengths
Social Report-
a report that entails businesses with a relationship to the society which they operate in