Morality

• Morality, in its element, is best described by the phrase personal integrity .

• A common view is that an ethically responsible business decision is merely one that complies with the law

• A firm's ethical reputation can provide a competitive advantage or disadvantage in the marketplace and with customers, suppliers, and employees.

• Ethics is - by virtue of dealing with how we act, choose, behave, and do things - practical.

• The authors of this text believe that responsible decision-making and deliberation will result in more responsible behavior.

• Ethical decision-making involves the basic categories, concepts, and language of ethics.

• One particular law that has had a significant impact on business decision-making is Americans with Disabilities Act.

• Most of the laws that concern business are based on past cases that establish legal precedents.

• According to theoretical reason, science is the greatest arbiter of truth.

• Ethical theories are patterns of thinking, or methodologies , to help one decide what to do.

• Ethical business leadership is the skill of creating a circumstance in which good people are able to do good, and bad people are prevented from doing bad.

• Philosophical ethics asks us to simply step back from unavoidable everyday decisions to examine and evaluate them.

• In view of a business setup, and the definition of value, a corporate culture is as likely to ethical, as it is likely to be unethical.

• Ethical business leadership is exactly this skill: to create the circumstances in which good people are able to do good, and bad people are prevented from doing bad.

• Normative disciplines presuppose some underlying Values

• In the context of ethics, a stakeholder will be anyone affected, for better or for worse, by the decisions made within a particular firm.