MGT610: Business Ethics
Business ethics is applied ethics. It is the application of our understanding of what is good and right to that assortment of institutions, technologies transactions, activities, and pursuits that we call Business. MGT610 Handouts pdf
MGT610 Handouts pdf
Course Category: Management
Introduction, Theory of Ethical Relativism, Moral Developments and Moral Reasoning, Moral Reasoning, Moral Responsibility and Blame, Utilitarianism Universalizability & Reversibility, Egalitarians’ View, John Rawls’ Theory of Justice, The Ethics of Care, Morality in International Contexts, Free Market & Planned Economy, Law of Nature, Free Markets and Utility: Adam Smith, Ricardo & Globalization, Free Market Economy, Competition and the Market, Perfect Competition, Monopoly Competition, Oligopolistic Competition, Oligopolies and Public Policy, Ethics & the Environment, The Ethics of Pollution Control Remedies,
Costs and Benefits, Ethics of Care-Utility and Conservation, The Ethics of Consumer – Production and Marketing, Consumers & Information, Contractual theory of business, The Due Care Theory, Advertising Ethics, Advertising Ethics, Types of advertising, Inform or Persuade – Some Theoretical Issues, Galbraith Vs. von Hayek, Advertising and Self-Regulation, Advertisers’ Deception, Ethics of Job discrimination. MGT610 Handouts pdf
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MGT610: Business Ethics
According to the dictionary, the term ethics has a number of different meanings. One of its meanings is: “principles of conduct by which an individual or group is governed.” We sometimes use the term personal ethics, for example, to refer to the rules by which an individual lives his or her personal life. We use the term accounting ethics to refer to the code that governs the professional conduct of accountants.
Morality can be defined as the standards that an individual or group has about what is right and wrong, or what is good and bad. To clarify what this means, let’s consider a specific case.
A normative study is a research that attempts to reach normative conclusions—that is, conclusions about what things are good or bad, or what actions are right or wrong. In short, the normative study aims to discover what ought to be.
A descriptive study is one that does not try to come to any conclusions about what things are really good or bad or right or wrong. Instead, a descriptive study attempts to describe or explain the world without reaching any conclusions about whether the world is as it should be.
Business ethics is the specialized study of good and evil. It focuses on moral standards that apply to business policy, institutions, and behavior. A brief description of the nature of business institutions should make this clear.