Presentation Transcript

1. Laws and Their Ethical Foundation Chp1Section 1-3 6. Uniform Business Laws Committees of legal experts have written model laws covering ares such as sales, certain credit transactions, and business forms. States then had the opportunity to adopt these models in place of their current codes Uniform Commercial Code (UCC) – widely adopted set of laws pertaining to business. (We’ll do more with this later.)
2. Laws and Their Ethical Foundation Chp1Section 1-3 Section 1-3 – Ethical Bases for Laws Ethics – collection of standards of conduct and moral judgment forming the basis for a reasoned, impartial decision as to what is right or wrong. Ethical System - composed of an organized and consistent compilation of such standards usually set down by an established authority base our decisions on reason, not on emotion Impartiality – is the idea that the same ethical standards apply to everyone Business Ethics – ethical principles used in making business decisions Profit maximization – term used to justify actions that optimize income but hurt the common good
3. Laws and Their Ethical Foundation Chp1Section 1-3 Basic Forms of Ethical Reasoning Consequences-Based Reasoning system that forecasts the consequences of an action and alternatives to it Consequences are evaluated to see whether the action or an alternative confers the “greatest good on the greatest number affected by it.” action maximizing the “good” is chosen
4. Laws and Their Ethical Foundation Chp1Section 1-3 Basic Forms of Ethical Reasoning, cont. Rule-Based Reasoning acts themselves are judged as right or wrong wrong actions are never condoned even if they bring about a good result Standard comes from one of two sources: a) recognized authority or b) human reasoning Universalizing – picture everyone doing the action and then ask if the result would be irrational
5. Laws and Their Ethical Foundation Chp1Section 1-3 How Ethics are Reflected in Laws laws are judged to be wrong when they affect the majority negatively U.S. Constitution seeks to ensure that the federal lawmaking system provides:a. the greatest good for the greatest number b. protect the well-being of minorities, through the Bill of Rights Both consequential and rule based ethics conclude that we are obligated to obey the law
6. Laws and Their Ethical Foundation Chp1Section 1-3 Extras Fidelity bond – insurance policy that pays the employer money in the case of theft by employees. Scofflaws – persons who do not respect the law at all, assess risk of being caught and punished against the benefits they obtain by breaking the law Integrity – capacity to do what is right in the face of temptation or pressure to do otherwise
7. Laws and Their Ethical Foundation Chp1Section 1-3 Extras, cont. Civil Disobedience – an open, peaceful, violation of the law to protest its alleged, or supposed, injustice with the goal of making the legal system more just Martin Luther King, Jr. – prime example of civil disobedience Concluded civil disobedience is ethical when: a written law is in conflict with ethical reasoning no effective political methods are available to change the law the civil disobedience is nonviolent the civil disobedience does not advance a person’s immediate self-interest the civil disobedience is public and one willingly accepts the punishment for violating the law
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