Business Law with UCC Applications,13e Chapter 1 Ethics, Social Responsibility, and the Law McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

1-2 Learning Objectives 1.Define law and morality. 2.Distinguish among natural law, positive law, and negative rights theory 3.Explain ethical relativism. 4.Describe social contract theory. 5.Outline the steps in applying utilitarianism. 6.Define rational ethics.

1-3 Learning Objectives (cont.) 7.Explain the dual nature of ethics in government. 8.Outline the arguments supporting social responsibility. 9.Explore the need for law in our society. 10.Clarify how the law and ethics are usually in harmony with one another.

1-4 Ethics, Social Responsibility, and the Law Defining the Law, Morality, and Ethics –The Law and Morality –Values and Ethics –Natural Law Theory –Positive Law Theory –Negative Rights Theory –Ethical Decision Making

1-5 Ethics, Social Responsibility, and the Law Ethical Theories –Ethical Relativism –Social Contract Theory –Utilitarianism –Rational Ethics

1-6 Ethics, Social Responsibility, and the Law Ethical Relativism –Shortcomings of Ethical Relativism –Situational Ethics

1-7 Ethics, Social Responsibility, and the Law Rational Ethics –The Golden Rule and Rational Ethics –The Logical Premise of Rational Ethics

1-8 Ethics, Social Responsibility, and the Law Ethics and the Government –The Ethic of Ultimate Ends –The Ethic of Responsibility

1-9 Ethics, Social Responsibility, and the Law Social Responsibility in the Business Sector –The Traditional Corporate Culture –Reasons for Social Responsibility –Efforts to Promote Social Responsibility

1-10 Ethics, Social Responsibility, and the Law Reasons for Social Responsibility –Legal Advantages Granted the Corporation –The Impact of Corporate Decision Making –Enlightened Corporate Self-Interest

1-11 Ethics, Social Responsibility, and the Law The Relationship between Law and Ethics –The Need for Law in Our Society –Ethical and Legal Harmony