U.S. Constitution
Definition
The U.S. Constitution is the supreme law of the United States that establishes the national government's framework and the fundamental rights of its citizens. It outlines the structure of government, including the separation of powers, and embeds principles of democracy and rule of law essential for ethical decision-making in business.
Analogy
Imagine a game where the rules were created to ensure fair play, define roles within the game, and outline how decisions are made - this is what the U.S. Constitution does for the governance of the country. Just like in a game where rules are needed to prevent chaos and ensure everyone has an equal chance to succeed, the Constitution provides a set structure and guidelines to maintain order, fairness, and justice in society which businesses must operate under.
Related terms
Rule of Law: The principle that all individuals, institutions, and entities are accountable to laws that are publicly promulgated, equally enforced, and independently adjudicated.
Separation of Powers: A governance model where state responsibilities are divided among different branches (legislative, executive, judicial) to prevent any one group from gaining too much power.
Business Ethics: The study and examination of moral and ethical problems that arise in a business environment based on societal expectations.
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