Business Ethics and the Firm

From the study guide

Course Outline

  1. Ethics as a Shared Foundation
  2. Motivation and Ethical Management
  3. The Firm and Consumer Needs
  4. Coordination and Theories of the Firm
  5. Stakeholder Theory and Firm Governance
  6. Markets, State, and Society
  7. Alternative Economics and Responsibility
  8. Markets, Ethics, and Economic Thought
  9. Economic Theory and Human Behaviour
  10. Ethics, Morals, and Question Types
  11. Business Ethics: History and Analysis
  12. Dilemmas and Moral Judgement
  13. Ethical Excuses and Organisational Compliance
  14. Profit, Stakeholders, and Responsibility
  15. Course Assessment Requirements

1. Ethics as a Shared Foundation

Key Concepts & Definitions

  • Ethics: Builds rational consensus about how people live together and supplies a shared foundation for economic and human relationships.
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Practice quiz preview

1. What role does ethics play in economic and human relationships?

2. Why must a voting procedure rely on agreement that exists before the vote?

3. Why does a system of laws and penalties depend on willing compliance by most people?

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Flashcard preview

What shared role does ethics play in economic and human relationships?

It provides a shared foundation for those relationships.

Why can voting not establish its own prior rules?

Doing so would create an infinite regress.

What must voting depend on before its procedure begins?

An agreement that exists before and outside the procedure.

Who do law and penalties mainly address?

The minority who do not sense the boundary themselves.

What does the system rely on most people doing?

Complying willingly.

Which motive does Adam Smith’s *The Theory of Moral Sentiments* present alongside self-interest?

Fellow-feeling.

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Frequently asked questions

What does the Business Ethics and the Firm study guide cover?

It covers the core concepts of Business Ethics and the Firm, organized by topic with the key definitions, explanations and takeaways, so it's easier to learn and remember.

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How many questions are in the Business Ethics and the Firm quiz?

The practice quiz has 44 multiple-choice questions, each with an explanation. Use it to check what you know and find your gaps.

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How do I study Business Ethics and the Firm with flashcards?

There are 93 flashcards on Business Ethics and the Firm, with a question on the front and the answer on the back. Try to recall each answer before you flip, and let spaced repetition bring back the ones you miss.

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