Ch 6: Ethical & Legal Decision Making in Business

About This Chapter

This chapter makes it easy to grasp the basics of ethical and legal decision making in business. Watch fun video lessons and take self-assessment quizzes to improve your knowledge while studying for a test or taking steps to earn course credit.

Ethical & Legal Decision Making in Business - Chapter Summary

Whether you are just beginning to study ethical and legal decision making in business or want to refresh your understanding, this chapter can help! Review short lessons developed by top instructors to closely examine white collar crime, corporate crime liability and other related topics. Each lesson is available as an engaging video or written transcript and features a multiple-choice quiz to test your comprehension. If you develop questions while studying these lessons, feel free to submit them to our experts. In no time, you will have the knowledge to:

  • Define and describe the social contract of a business
  • Differentiate between workplace ethics and the law
  • Explain ethical and professional conduct in business for attorneys
  • Describe how business decisions impact stakeholders
  • Discuss the models, steps and framework of legal ethical decision making
  • Share the definition and examples of white collar crime
  • Provide the definition and examples of corporate criminal liability
  • List and describe ways to deter business crime

8 Lessons in Chapter 6: Ethical & Legal Decision Making in Business
Test your knowledge with a 30-question chapter practice test
The Social Contract in Business Ethics

1. The Social Contract in Business Ethics

What should a business's place be in the world? Should it just donate money, or work to make the world a better place? Or should it be absolutely neutral? This all goes back to the social contract of business.

The Difference Between Workplace Ethics and the Law

2. The Difference Between Workplace Ethics and the Law

In this lesson, you will learn the difference between workplace ethics and the law through a comparison of two employees who each view a situation differently at their job.

Attorney Professional and Ethical Conduct in Business

3. Attorney Professional and Ethical Conduct in Business

Lawyers play an important part in business, but they must follow model rules regarding ethics. This lesson addresses legal ethics in business law, including malpractice, attorney-client privilege and conflicts of interest.

The Impact of Business Decisions on Stakeholders

4. The Impact of Business Decisions on Stakeholders

In this lesson, you will learn about the impact of business decisions on stakeholders and the various difficulties in making appropriate ethical decisions that result in fair outcomes for all constituents.

Legal Ethical Decision Making: Models, Steps & Framework

5. Legal Ethical Decision Making: Models, Steps & Framework

Ethical decision making involves making choices based on what is good for all people. The Golden Rule, public disclosure test and universalization test are three models that consider others in their application.

What Is White Collar Crime? - Definition, Statistics & Examples

6. What Is White Collar Crime? - Definition, Statistics & Examples

White collar crimes involve criminal activities committed by people in the regular course of their business and involve bribery, extortion, fraud and embezzlement. These crimes usually end in financial gain for the perpetrator.

Corporate Criminal Liability: Definition & Examples

7. Corporate Criminal Liability: Definition & Examples

Corporations, just like individuals, can be tried and convicted of committing crimes if managers, directors or even ordinary workers commit the crimes. There are two types: strict liability and vicarious liability.

Deterring Business Crime: RICO, False Claims Act, & Sarbanes-Oxley Act

8. Deterring Business Crime: RICO, False Claims Act, & Sarbanes-Oxley Act

There are three acts that deter corporations from committing crimes that affect customers, shareholders and employees: RICO Act, False Claims Act and Sarbanes-Oxley Act. Each act protects against various crimes, but all of the acts hold businesses accountable for their actions.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Support