- ethics
- The code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong.
- normative ethics
- The field of ethics concerned with our asking how should and ought we live and act.
- business ethics
- The area of applied ethics that focuses on real-world situations and the context and environment in which transactions occur.
- stakeholder
- Any group or individual who can affect or is affected by the achievement of an organization’s objectives. The use of the term stakeholder has become commonplace in organizations.
- ethical dilemma
- A situation in which a difficult choice has to be made between two courses of action with ethical consequences.
- terminal values
- Desired goals, objectives, or end states that individuals wish to pursue.
- instrumental values
- The preferred means of behavior used to obtain desired goals.
- rights
- Legal rights are entitlements that are limited to a particular legal system and jurisdiction, while moral rights are universal and based on norms in every society.
- justice
- Four major tenets: (1) All individuals should be treated equally; (2) Justice is served when all persons have equal opportunities and advantages; (3) Fair decision practices, procedures, and agreements among parties should be practiced; (4) Punishment is served to someone who inflicts harm.
- virtue ethics
- Grounded in one’s character, focusing on what type of person one ought to be.
- ethical relativism
- Holds that people set their own moral standards for judging their actions, based on self-interest.
- stewardship
- Concerned with empowering followers to make decisions and gain control over their work.
- servant leadership
- Involves selflessly working with followers to achieve shared goals that improve collective, rather than individual, welfare.
- corporate culture
- The beliefs and behaviors that determine how a company’s employees and management interact inside an organization and also handle outside business transactions. Corporate culture develops organically over time from the cumulative traits of the leaders and the people that the company hires.
- stakeholder management
- The systematic identification, analysis, planning, and implementation of actions designed to engage with stakeholders
- moral entrepreneur
- Someone who creates a new ethical norm.