Kristu Jayanti College

Bangalore -560077 1. Business Ethics - A specialized study of moral right and wrong that concentrates on moral standards as they apply to business institutions, organizations, and behaviour. 2. Morality - The standards that an individual or a group has about what is right and wrong or good and evil. 3. Moral Standards - The norms about the kinds of actions believed to be morally right and wrong as well as the values placed on the kinds of objects believed to be morally good and morally bad. 4. VALUES are principles and guidance which are absolute in nature and lead to an admirable and desirable level of perfection in life. Morality 1 Attributes of a personal character. 1 Ethics Attributes of a collective social system where morals are applied. Social code of conduct. Expectations of a groups behaviour.

2 3

Personal code of conduct. Expectation of an individual behaviour Only personal morality

2 3

National ethics, Social ethics, company ethics, professional ethics Depend on situations change.

Usually unchanging (Ex: honesty)

5. Non-Moral standards - The standards by which we judge what is good or bad and right or wrong in a non-moral way. 6. Normative Study - An Investigation that attempts to reach conclusions about what things are good or bad or about what actions are right or wrong. 7. Descriptive Study - An investigation that attempts to describe or explain the world without reaching any conclusions about whether the world is as it should be. 8. Globalization - The worldwide process by which the economic and social systems of nations have become connected. 9. Multinational Corporation - A company that maintains manufacturing, marketing, service, or administrative operations in many different host countries. 10. Ethical Relativism - A theory that there are no ethical standards that are absolutely true and that apply or should be applied to the companies and people of all societies. 11. Information Technology - The use of extremely powerful and compact computers, the internet, wireless communications, digitalization, and numerous other technologies that have enabled us to capture, manipulate, and move information in new and creative ways.

12. Cyberspace - A term used to denote the existence of information on an electronic network of linked computer systems. 13. Nanotechnology - A new field that encompasses the development of tiny artificial structures only nanometers (billions of a meter) in size. 14. Genetic Engineering - A Large variety of new techniques that allows change in the genes of the cells of humans, animals, and plants. 15. Moral Reasoning - The reasoning process by which human behaviors, institutions, or policies are judged to be in accordance with or in violation of moral standards. 16. Law of agency - A law that specifies the duties of persons who agree to act on behalf of another party and who are authorized by an agreement so to act. 17. Prisoners dilemma - A situation where two parties must choose to cooperate or not, and where both gain when both cooperate, but if only one cooperates the other one gains even more, while if both do not cooperate both lose. 18. Utility - The inclusive term used to refer to any net benefits produced by action. 19. Ethics of care - An ethic that emphasizes caring for the concrete well being of those near to us. 20. Ethics of virtue - An ethic based on evaluations of the moral character of persons or groups. 21. Utilitarianism - A general term for any view that holds that actions and policies should be evaluated on the basis of the benefits and costs they impose on society. 22. Cost-Benefit Analysis - A type of analysis used to determine the desirability of investing in a project by figuring whether its present and future economic benefits outweigh its present and future economic costs. 23. Efficiency - Operating in such a way that one produces a desired output with the lowest resource input. 24. Non-economic goods - Goods, such as life, love, freedom, equality, health, beauty, whose value is such that no quantity of any economic good is equal in value to the value of the non-economic good. 25. Instrumental goods - Things that are considered valuable because they lead to other good things. 26. Intrinsic goods -Things that are desirable independent of any other benefits they may produce. 27. Justice - Distributing benefits and burdens fairly among people. 28. Rights - Individual entitlements to freedom of choice and well-being. 29. Rule utilitarianism - The basic strategy of limiting utilitarian analysis to evaluations of moral rules. 30. Legal right - An entitlement that derives from a legal system that permits or empowers a person to act in a specified way or that requires others to act in certain ways toward that person. 31. Moral rights - Rights that human beings of every nationality possess to an equal extent simply by virtue of being human beings. 32. Negative rights - Duties others have to not interfere in certain activities of the person who holds the right. 33. Positive rights - Duties of other agents (it is not always clear who) to provide the holder of the right with whatever he or she needs to freely pursue his or her interests. 34. Categorical imperative - The requirement that everyone should be treated as a fee person equal to everyone else. 35. Maxim - The reason a person in a certain situation has for doing what he or she plans to do. 36. Distributive justice - Distributing societys benefits and burdens fairly.

37. Retributive justice - Blaming or punishing persons fairly for doing wrong. 38. Compensatory justice - Restoring to a person what the person lost when he or she was wronged by someone. 39. Political Equality - Equal participation in, and treatment by, the political system. 40. Economic equality - Equality of income, wealth, and opportunity. 41. Puritan Ethic - The view that every individual has a religious obligation to work hard at his calling (the career to which God summons each individual) 42. Work ethic - The view that values individual effort and believes that hard work does and should lead to success. 43. Productivity - The amount a person produces. 44. Principle of equal liberty - The claim that each citizens liberties must be protected from invasion by others and must be equal to those of others 45. Difference principle - The claim that a productive society will incorporate inequalities, but takes steps to improve the position of the neediest members of society. 46. Principle of fair equality of opportunity - The claim that everyone should be given an equal opportunity to qualify for the more privileged positions in societys institutions. 47. Original position -An imaginary meeting of rational self-interested persons who must choose the principles of justice by which their society will be governed. 48. Veil of ignorance - The requirement that persons in the original position must not know particulars about themselves which might bias their choices such as their sex, race, religion, income, social status, etc. 49. Reversibility -Capable of being applied to oneself. 50. Universalizability - Capable of being applied equally to everyone in any part of the world. 51. Socialistic ethic - According to socialistic view of justice, from each according to his ability, to each according to his needs is the principle of distributing a societys burdens and benefits respectively. 52. Capitalistic ethic - Justice based on contribution Benefits should be distributed according to the value of the contribution the individual makes to a society, a task, a group, or an exchange. 53. Communitarian ethic - An ethic that sees concrete communities and communal relationships as having a e fundamental value that should be preserved and maintained. 54. Aspirational Ethics - A strong desire to achieve something high or great. An aspirational code would be intended to reach a higher ethics standard that supersedes being in compliance. 55. Benchmarking - Benchmarking is the comparison of core process performance with other components of an organization (internal benchmarking) or with leading organizations (external benchmarking). Benchmarking is a key tool for performance improvement because it provides real world models and reference points for setting ambitious improvement goals. Business process benchmarking and computer-system benchmarking. Business process benchmarking deals with Business Process Improvement (BPI) and Business Process Reengineering (BPR) to reduce costs and to improve quality and customer service. Internal benchmarking is looking downward and inward. External or Competitive benchmarking is looking outward. 56. Capacity Building - The development of an organization's core skills and capabilities, such as leadership, management, finance and fundraising, programs and evaluation, in order to build the

organization's effectiveness and sustainability. It is the process of assisting an individual or group to identify and address issues and gain the insights, knowledge and experience needed to solve problems and implement change. Capacity building is facilitated through the provision of technical support activities, including coaching, training, specific technical assistance and resource networking. 57. Character Education - The long-term process of helping individuals develop knowledge of, motivation to, and practices of living by a set of ethical standards. Character education stems from the idea that we establish our standards for action based upon the ideals and behaviour we learn from others. 58. Code of Conduct - Can refer to a listing of required behaviour, the violation of which would result in disciplinary action. In practice, used interchangeably with Code of Ethics. 59. Code of Ethics - Often conveys organizational values, a commitment to standards, and communicates a set of ideals. In practice, used interchangeably with Code of Conduct. In Section 406(c), the Sarbanes-Oxley Act defines "code of ethics" as such standards as are reasonably necessary to promote-- (1) honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships; (2) full, fair, accurate, timely, and understandable disclosure in the periodic reports required to be filed by the issuer; and(3) compliance with applicable governmental rules and regulations. 60. Compliance code - Conforming or adapting one's actions to another's wishes, to a rule, or to necessity. A compliance code would be intended to meet all legal requirements. 61. Conflict of Interest - A person has a conflict of interest when the person is in a position of trust which requires him/her to exercise judgment on behalf of others (people, institutions, etc.) and also has interests or obligations of the sort that might interfere with the exercise of her judgment, and which the person is morally required to either avoid or openly acknowledge. 62. Corruption - The abuse of public power for private benefit. Perversion or destruction of integrity in the discharge of public duties by bribery or favor or the use or existence of corrupt practices, especially in a state or public corporation. 63. Courage -Choosing to do what one believes is right even if the result will not be to everyone's liking or may lead to personal loss. 64. Credo- Fundamental beliefs (or a set of beliefs) or guiding principles. 65. Deontology - The science related to duty or moral obligation. In moral philosophy, deontology is the view that morality either forbids or permits actions. For example, a deontological moral theory might hold that lying is wrong, even if it produces good consequences. Deontological theories, from the Greek word deon, or duty, emphasize foundational duties or obligations. This is a kind of purest view of ethics, somewhat independent of the realities of life. 66. Dynamic responsibility -The world of embracing problems and challenges; knowing when to renegotiate promises made; and fostering change in the society around us. 67. Empathy - Caring about the consequences of one's choices as they affect others. Being concerned with the effect one's decisions have on those who have no say in the decision itself. 68. Ethical Congruence - A situation where one's decision is consistent with, aligns with, the applicable set(s) of values. Under these circumstances, a choice to take some action will harmonize with the decision-maker's values. The organizational state where values, behaviors and perceptions are aligned.

69. Ethical Differences - Situations in which two people agree on a particular value and disagree as to the action to be taken or decision to be made. 70. Ethical Dilemmas - Situations that require ethical judgment calls. Often, there is more than one right answer and no win-win solution in which we get everything we want. 1. The decisions, choices, and actions (behaviors) we make that reflect and enact our values. 2.The study of what we understand to be good and right behavior and how people make those judgments. 71. Ethical standard - A set of standards of conduct that guide decisions and actions based on duties derived from core values. 72. Ethical Decision-making - Altruistic considerations what impact will this action or decision have on others or my relationship with them? Idealistic considerations what is the right thing to do - as defined by the values and principles, which apply to this situation? Individualistic considerations what will happen to me as a consequence of this action or decision? Pragmatic considerations what are the business consequences of this action or decision? 73. Focus Group - A small group of people whose response to something is studied to determine the response that can be expected from a larger population. Information obtained from focus groups is not analyzed statistically, but instead used for informational purposes (i.e., to assess the culture of an organization). 74. Good faith - Based on the belief in the accuracy of the information or concern being reported. 75. Governance - The act, process or power of exercising authority or control in an organizational setting. 76. Gray Areas - Situations in which the individual's business standards lack clarity. The lack of clarity may be due to an individual's not being familiar with a guideline or a guideline that is vague and subject to interpretation. Guidelines are often written to provide managers with as much latitude as appropriate, and this may create gray areas. 77. Independence -In the most general usage, freedom to act without control or influence from others, to be free to make decisions and act without external constraint. In the business world, independence has come to have a specialized meaning. It is most commonly understood to mean freedom from conflicting interests - the specialized case of having the ability to make a decision or act in ways which are free from conflict between one's personal interests and the interests of the party on whose behalf we are making the decision. 78. In-house Reporting System - Any system established by an organization to meet the standards of an effective program to prevent and detect violations of law in order to provide employees and other agents with a means to report misconduct to the organization without fear of retribution. 79. Integration - In the context of ethics programs, integration means the ability to put ethical principles into practice 80. Integrity - Making choices that are consistent with each other and with the stated and operative values one espouses. Striving for ethical congruence in one's decisions. 81. Leadership Interview - One-on-one interviews with top-level executives or managers that are intended to bring forth information regarding one's ethics climate. Information obtained through these interviews is not intended for statistical analysis, but instead for informational purposes. 82. Maxims - Short, pithy statements that are used to instruct and guide behavior.

83. Morals - Values that we attribute to a system of beliefs that help the individual define right versus wrong, good versus bad. These typically get their authority from something outside the individual -- a higher being or higher authority (e.g. government, society). Moral concepts, judgments and practices may vary from one society to another. 84. Ombudsman - A designated neutral or impartial dispute resolution practitioner whose major function is to provide confidential and informal assistance to managers and employees and/or clients of the employer: patients, students, suppliers or customers. 85. Patience - Taking time to consider and deliberate the long term consequences of a choice before making that choice and acting upon it. 86. Rules-centered Code of Conduct - Frequently takes the form of a list of behavioral requirements, the violation of which could result in disciplinary action. 87. Static responsibility - The world of duty, obligation, and accountability: doing what you are told, doing what you promised, doing what is expected. 88. Survey - A set of questions used to examine a condition, situation or value. 89. Sustainability - Generally, referring to a state or condition that can be maintained over an indefinite period of time. Commonly used with development as in: "Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs" (from the 1987 publication "Our Common Future" by the World Commission on Environment and Development.) 90. Task Force - A temporary grouping under one leadership for the purpose of accomplishing a definite objective. 91. Transparency - Sharing information and acting in an open manner. A principle that allows those affected by administrative decisions, business transactions or charitable work to know not only the basic facts and figures but also the mechanisms and processes. It is the duty of civil servants, managers and trustees to act visibly, predictably and understandably. 92. Values - The core beliefs we hold regarding what is right and fair in terms of our actions and our interactions with others. Another way to characterize values is that they are what an individual believes to be of worth and importance to their life (valuable). 93. Values-centered Code of Ethics Offers a set of ethical ideals, such as integrity, trust-worthiness and responsibility, which companies want employees to adopt in their work practices. 94. Whistle-blower - A person who takes a concern (such as a concern about safety, financial fraud, or mistreatment) outside of the organization in which the abuse or suspected abuse is occurring and with which the whistle-blower is affiliated. Whistleblowing is made up of four components: "(1) An individual act with the intention of making information public; (2) the information is conveyed to parties outside the organization who make it public and a part of the public record; (3) the information has to do with possible or actual nontrivial wrongdoing in an organization; (4) the person exposing the agency is not a journalist or ordinary citizen, but a member or former member of the organization."