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Terms in this set [28]
Stakeholders
Anyone who affects or is affected by decisions made within a firm
Ethics
How human beings should properly live their lives
Normative ethics
Ethics deals with our reasoning about how we should act
Descriptive ethics
Social sciences, such as psychology and sociology, that provide account of how and why people act the way they do
Morality
How I should live my life
Personal Integrity
Your personal morals
Social Ethics
How should we live [business ethics]
Values
Underlying beliefs that cause us to act or deciding one way or another
Norms
Standards of appropriate and proper ["normal"] behavior
Ethical Values
Those beliefs and principles that impartially promote human well being
Risk assessment
Process that identifies potential events that may affect the entity, and manage risk, to provide reasonable insurance
Practical Reasoning
Reasoning about what we should do
Theoretical Reasoning
Reasoning about what we should believe
First step in ethical decision making process
Determine the facts
Perceptual Differences
How individuals experience and understand situations differently
Second step in ethical decision making process
Identifying ethical issues involved [first step if issues are introduced first]
Normative Myopia
Shortsightedness about values
Inattentional blindness
When you focus on failures or a particular element of an event and miss the surrounding details
Change Blindness
Decision makers fail to notice gradual changes over time
Third step of ethical decision making process
Identify and consider all people affected by a decision
Fourth step of ethical decision making process
Consider available alternatives
Moral imagination
Creatively identifying alternatives
Fifth step in ethical decision making process
Compare and weigh alternatives
Sixth step in ethical decision making process
Make a decision
Seventh and last step in ethical decision making process
Monitor and learn from outcomes
Simplified decision rules
Simple rule to follow for decision makers
Consider limited alternatives
When decision makers only see two options when there is always more
Minimum decision criteria [satisficing]
Selecting the option that people can live with, but may not be the best option
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Verified answer
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Verified answer
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