Study of conduct that is good/right/moral in a given set of circumstances (what we ought to do).
An attempt to develop a means of determining what fundamental values should be and how rules should enforce those values.Enter Answer...
Complying with positive law is an ethical floor for businesses (a “moral minimum”).
belief that general guiding principles for moral behavior can be derived from human nature.
The categorical imperative: The rightness or wrongness of an action is judged by estimating the consequences that would follow if everyone in a society performed the act under consideration.
The ethicality of an action is judged by how the consequences of the action will affect the rights of others.
Philosopher: Jeremy Bentham
Utilitarianism: maximizing the happiness (satisfaction) of society.
Theory: an action is morally right when, among the people affected, it produces the greatest good for the greatest number of people.
Legal compliance is the “moral minimum.”
Simply obeying the law does not necessarily make the business practice ethical.
Backdating stock options (Apple Computer).
Misleading Regulators –OxyContin case.
Fraudulent marketing which lead to abuse and addiction.
May 2007, executives plead guilty to criminal charges they misled regulators.
Rules and procedures.
Heroes (role models).
Federal law enacted in 1977.
Prohibits U.S. businesses from bribing foreign officials to obtain or retain beneficial business opportunities.
Certain facilitating payments are permitted.
Accounting practices must provide reasonable assurance that all transactions are accounted for and legal.
Criminal penalties for violations:
Corporations up to $2 million.
Individuals up to $100,000 and 5 years imprisonment.
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