Business Law I
Chapter 1
LAWS AND THEIR ETHICAL FOUNDATION—Part B
I.
ETHICAL BASES FOR LAWS
A.
___________________ – the study of values, of how we ought to live; denotes
systematic, rational reflection upon a particular behavior
1.
deciding what is right or wrong in a _____________________, _____________________
manner
2.
Makes reference to a written _________________________ to provide consistency,
such as the _________________________, the _________________________, the
_________________________, or the _________________________, etc.
B.
3.
Must base decisions on _________________________, not emotion
4.
____________________ means the same ethical standards are applied to everyone
___________________ – standards or ideals which serve as guides or standards by
which we live and make decisions
C.
II.
___________________ – practical applications of ethical principals; modes of conduct
ALL OF WHICH LEADS TO _________________________ _________________________ – ETHICAL
PRINCIPALS USED IN MAKING BUSINESS DECISIONS
A.
When ethics are not used in business, it is often due to ________________________
_________________________ – desire to make as much ____________________ as possible,
regardless of the ____________________ it may bring
B.
________________________ ________________________ ________________________ – approach a
company takes when making ethically-minded decisions in the day-to-day
operation of their business
1.
Duty to ______________________________
2.
Duty to ______________________________
3.
Duty to ______________________________
4.
Duty to ______________________________
Business Law I
III.
Chapter 1
BASIC FORMS OF ETHICAL REASONING – TAKES TWO BASIC FORMS
A.
_________________________ -________________________ Ethical Reasoning where right or
wrong is based only on the _________________________ of the action (acts themselves
have no ethical or moral character)
B.
__________________________ -_________________________ Ethical Reasoning where the
__________________________ __________________________ are judged as right or wrong;
standards for judging can come from:
1.
An _________________________ – often a religious source
2.
____________________ ____________________ – some use ________________________ where
everyone is pictured doing the same thing (is the result irrational, illogical
or demeaning?)
IV.
ETHICS REFLECTED IN LAWS
A.
Process of electing _________________________ comes from majority rule and includes
many features of consequence-based ethics (providing the greatest good for the
greatest number)
B.
_________________________ preserved by the Bill of Rights and other civil rights laws
reflect ethics based on rules
C.
Both conclude we are obligated to obey the law
D.
Why are we obligated to obey the law?
1.
We consent to be _____________________ and gain benefits of the country
2.
We want to avoid _____________________ – fines, community service, jail time,
death penalty, etc.
3.
Inability to get certain jobs
a)
Inability to get a _________________________ __________________________
b)
Inability to get a _________________________ __________________________ (type of
insurance policy that pays employer in case of theft/damage by employee)
c)
E.
Closed ___________________ (attorney, CPA, educator, doctor, etc.)
Unethical behavior isn’t always large-scale
1.
____________________ – individuals without ____________________ for the law
a)
Are often minor lawbreakers – never ethically justified
Business Law I
Chapter 1
b)
Weigh risks of being caught vs. benefit gained
c)
Lack personal _________________________ – ability to do what is right, even
under pressure
2.
__________________________ _________________________ – open, peaceful violation one
feels is unjust
F.
G.
a)
Passionate about a cause but not advancing their own self-interest
b)
Have tried every other means to change the law
__________________________
1.
Employee who has reported on the ___________ activities of his/her employer
2.
Whistleblowers Protection Act passed by Congress in 1989
__________________________
1.
Individual who contributes toward various causes
2.
May do so with public knowledge, but many do so ________________________
3.
May also be a focus of the business itself, as a way of giving back to the
____________________________ in which it is located
V.
TOP TEN QUESTIONS TO ASK YOURSELF WHEN MAKING AN ETHICAL DECISION*
10. Could the decision become ______________ ______________? If so, don't do it.
9.
Is it ______________? If it isn't, don't do it.
8.
Is it ______________? If it isn't, don't do it.
7.
Is it the ______________ ______________ thing to do? If it isn't, don't do it.
6.
Will this stand the test of ______________ ______________? If it won't, don't do it.
5.
If something terrible were to happen, could I defend ______________ ______________? If you
can't, don't do it.
4.
Is it ______________, ______________, and ______________? If it isn't, don't do it.
3.
How will it make me feel about ______________? If it's lousy, don't do it.
2.
Does this choice lead to the greatest ______________for the greatest ______________? If it
doesn't, don't do it.
And the #1 question you should ask yourself when making an ethical decision:
1.
Would I do this in front of my ______________? If you wouldn't, don't do it.
*Hopper, Carolyn. "Top Ten Questions You Should Ask Yourself When Making an Ethical Decision." (1998). University 101 Instructor's Resource
Manual Middle Tennessee State University. http://www.mtsu.edu/~u101irm/ethicques.html (10 Oct. 2003)