1. Ethics and Ethical Reasoning pg. 16 in textbook

2. Ethics - terms
Ethics: deciding what is a right or wrong action in a reasoned, impartial manner
Note: not everything that is unethical is illegal
Morality: involves the values that govern society’s attitude toward right and wrong

3. Ethics - terms
Impartiality: the idea that the same ethical standards are applied to everyone
Business Ethics: principals in business decisions

4. Why are ethics sometimes not used in business decisions?
Profit maximization gives a justification for actions that would hurt the general welfare of people
Offshore factories
Overseas employees – Americans lose jobs
Buying companies and selling the assets

5. Basic Forms of Ethical Reasoning
Consequences-based ethical reasoning
Right or wrong is based ONLY on the results of the action
An act that produces good consequences is good, an act that produces bad consequences is bad
1st look for alternative ways to alter the current situation
2nd predict consequences that will arise from each alternative
3rd evaluate all alternatives to see will creates the greatest good
(How do you evaluate good - $$$$, pleasure, love, justice?
Who receives the good?

6. Basic Forms of Ethical Reasoning
Rule-based ethical reasoning
Acts are either right or wrong based on ethical rules
Ex. Telling the truth is always right, lying is always wrong
Good Consequences do not justify wrong or bad acts
Ex. Lying cannot be justified by showing it produces good consequences
Standard for judging usually comes from two sources
Recognized authority, often a religious source (Ten Commandments)
Human reasoning – test called universalizing where you picture yourself doing the action and ask yourself, “would the result be irrational, illogical, or demeaning?” if so, unethical

7. Examples Majority rule usually advances rule-based
(no gray area, right is right/wrong is wrong)
Rule Based & Consequences Based usually reach the same type of decision
Ex. To lie or tell the truth….both ways usually result in deciding to tell the truth

8. Summary Majority rule usually advances rule-based
(no gray area, right is right/wrong is wrong)
Rule Based & Consequences Based usually reach the same type of decision
Ex. To lie or tell the truth….both ways usually result in deciding to tell the truth

9. Review True/False (Consequences-Based Reasoning)
_____ Right or wrong is not based ONLY on the results of the action
_____ An act that produces good consequences is good, an act that produces bad consequences is bad.

10. Review – True/False (Rules-Based Reasoning)
_____ Good consequences can justify wrong or bad acts
_____ Standard for judging usually comes from only one source
_____ Human reasoning , a test called universalizing, is not used in this type of reasoning

11. Culture to Laws
Culture refers to the values and beliefs of a society. Values reflect what people think is good or right. These values can shape your ethics and these ethics dictate the laws. Laws are created based on the ethical values at that time.

12. Terms to Research on the Internet (choose at least 5)
Lemon Laws
Limited Warranty
Express Warranty
Puffing
Full Warranty
Disclaimer
Unfair trade practices
Bait & Switch
False Advertising
Implied Warranty

13. Professional Code of Conduct
Attorney’s have a professional code of conduct. Depending on the state they are from it is called the Rules of Professional Conduct or Rules of Ethical Conduct.
-Other professional also have rules or codes of conduct.
-Research and find other professions that have established rules of ethical behavior and compare those rules between 2 states or among 2 countries
-Put your findings in the form of a powerpoint