Definition of Business Terms - Paper Example

Duties refer to moral obligations that is entitled to a person that an individual expected to perform while holding a position in a certain office or line of duty. In other words, it is the workload that a person executes or the responsibilities that are performed once a person is known to have the capacity to give the best output. In an office setting, duties vary depending on the position. For instance, some individuals can perform clerical duties like cleaning and preparing tea while other perform customer care services among other duties. Therefore, duties involve all the activities people do with the obligation of achieving a given objective.

Virtues refer to the accepted moral behavior that does not compromise the ethnic values and customs of a given society. A virtue can be described as an accepted behavior that everyone in the society admires and can be exemplary to another individual. Thus, there is no criminal offense coping good virtue from a role model.

Principles are believed to be the embodiment of reason- The principles form a basis or a foundation for particular things, in particular, giving the genesis of particular aspects. The principles clarify why certain propositions make sense in the society and provide the promise to propagate an argument while embracing some form of reasoning.

Beneficial consequences involve the entitlement of a person to a certain profit share that involves the benefits that arise as a result of receiving property, funds, or other benefits from an insurance policy.

Morality is the ability to distinguish between the proper and improper actions or decisions. Morality forms a basis to determine what is good or wrong and forms the hallmark of the values and principles of conduct of either a society or an individual.

Ethics is the accepted conduct of a person that portrays the moral principle that determines the human behavior. This branch of philosophy defines the accepted morals that are acknowledged in the society.

Deontology is an approach that puts its locus on the rightness or the wrongness of the actions. The concept converges on the duty and obligation of an individual in the workplace.

Teleology the philosophy utilizes the adage, the end justifies the means. The philosophy puts emphasis on the outcome rather than the root cause of the outcome. In this case, the final cause is what matters since teleology identifies the end result.

Utilitarian ethics is a normative theory of ethics that puts aside personal interests and puts the interest of others in the forefront. The theory requires that the best action is achieved if the expected outcome does not compromise the utility- The action should maximize utility.

Virtue ethics is a concept that recognizes that individual trait has a direct correspondence with the way a person thinks ethically. Virtue ethics is a normative approach that is known to emphasize the character of an individual.

Ethical analysis is the process of deep thinking that is meant to solve ethical issues by observing and analyzing ethical dilemma situations and giving an amicable solution whenever such problems occur. Ethical analysis requires a person with a strong background in the field of ethics thus can offer an expert opinion regarding the existing situation.

State ethics law is the lawsuit that governs the way jurisdictions are exercised to the violators of ethical conduct. The commission enforces the ethics laws. The state laws vary from one country to the other. Each country is entitled to enforce its state ethics laws without interference.

Ethics triangle is a decision-making model that is used when there is no proper distinction between right and wrong. The decision is framed in respect to the three approaches on ethical dilemma including rules, virtue, and results. The models help the fasten decision making while solving an ethical dilemma issue.

Codes of ethics are meant to serve as a guideline to what is expected from every worker in work environment. The code of ethics enumerates the way workers should use a professional approach to solve day to day issues. In an organization setting, codes of ethics a document that communicates the values, culture, and beliefs of the organization. It prostrates the best behavior of conduct by offering a framework of how values are maintained.

Whistleblowing is an important aspect that determines the health of an organization. The activity enhances the disclosure of uncouth information and making it publicly known to propagate better management. Whistleblowing circumvents materializing of specific problems internally within the organization with the aim of fighting to improve or make amendments. Whistleblowing is done in form of reporting or raising grievances to the management to demand to fix pressing issues.