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It outlines five characteristics of moral standards, then defines business ethics as a specialized study of moral right and wrong within business institutions, organizations, and behavior. The chapter classifies ethical issues into systemic, corporate, and individual categories. 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Velasquez  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nChapter One  \nBasic Principles: Ethics and Business  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nEthics and Morality  \n• Ethics is the study of morality.  \n– Morality = The standards that an individual or a group has about what is right and wrong, or good and evil.  \n• Example: B. F. Goodrich A7-D Fraud  \n– Moral Standards = norms about the kinds of actions that are morally right and wrong, as well as the values placedon what is morally good or bad.  \n– Non-Moral Standards: The standards by which we judge what is good or bad and right or wrong in a non-moral way.  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nFive Characteristics of Moral Standards  \n• Involve significant injuries or benefits  \n• Not established by authority figures  \n• Should be preferred to other values including self-interest  \n• Based on impartial considerations  \n• Associated with special emotions and vocabulary.  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nWhat is Business Ethics?  \n• Broadly, ethics is the discipline that examines one’s moral standards or the moral standards of a society to evaluate their reasonableness and their implications for one’s life.  \n• Business ethics is a specialized study of moral right and wrong that concentrates on moral standards as they apply to business institutions, organizations, and behavior.  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nTypes of Ethical Issues  \n• Systemic—ethical questions about the social, political, legal, or economic systems within which companies operate.  \n• Corporate—ethical questions about a particular corporation and its policies, culture, climate, impact, or actions.  \n• Individual—ethical questions about a particular individual’s decisions, behavior, or character.  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nCan ethical qualities be attributed to  \ncorporations?  \n• View \\#1: corporations, like people, act intentionally and have moral rights, and obligations, and are morally responsible.  \n• View \\#2: it makes no sense to attribute ethical qualities to corporations since they are not like people but more like machines; only humans can have ethical qualities.  \n• View \\#3: humans carry out the corporation’s actions so they are morally responsible for what they do and ethical qualities apply in a primary sense to them; corporations have ethical qualities only in a derivative sense.  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nArguments Against Business Ethics  \n• In a free market economy, the pursuit of profit will ensure maximum social benefit so business ethics is not needed.  \n• A manager’s most important obligation is loyalty to the company regardless of ethics.  \n• So long as companies obey the law they will do all that ethics requires.  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nArguments Supporting Business Ethics  \n• Ethics applies to all human activities.  \n• Business cannot survive without ethics.  \n• Ethics is consistent with profit seeking.  \n• Customers, employees, and people in general care about ethics.  \n• Studies suggest ethics does not detract from profits and seems to contribute to profits.  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.  \nCorporate Social Responsibility  \n• Corporate social responsibility refers to a corporation’s responsibilities or obligations toward society.  \n• Business ethics is both a part of corporate social responsibility and part of the justification for corporate social responsibility.  \n• Shareholder vs. Stakeholder Theory  \nCopyright © 2012 Pearson Education, Inc. All rights reserved.","cbCaimdnyfjlbNf8","https://ap.wps.com/l/cbCaimdnyfjlbNf8","pdf",341160,21,"English","# Chapter One: Basic Principles: Ethics and Business\n## Ethics and Morality\n## Five Characteristics of Moral Standards\n## What is Business Ethics?\n## Types of Ethical Issues\n## Can ethical qualities be attributed to corporations?\n## Arguments Against Business Ethics\n## Arguments Supporting Business Ethics\n## Corporate Social Responsibility","[{\"question\":\"What is the relationship between ethics and morality in the chapter?\",\"answer\":\"Ethics is defined as the study of morality. Morality refers to standards about what is right and wrong, or good and evil, held by an individual or group.\"},{\"question\":\"How does the chapter describe business ethics?\",\"answer\":\"Business ethics is described as a specialized study of moral right and wrong focused on how moral standards apply to business institutions, organizations, and behavior.\"},{\"question\":\"What does corporate social responsibility mean and how is it connected to business ethics?\",\"answer\":\"Corporate social responsibility refers to a corporation’s responsibilities or obligations toward society. Business ethics is presented as both a part of corporate social responsibility and a justification for it.\"}]","Business Ethics Concepts & Cases - Chapter One - Basic Principles: Ethics and Business | PDF",1790858603,32]