Term
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Definition
| Standards of moral behavior, that is, behavior accepted by society as right versus wrong. |
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Term
| Three questions to ask yourself in an ethical dilema |
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Definition
1. Is my proposed action legal?
2.Is it balanced, Am I acting fairly?
3.How will it make me feel about myself?
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Term
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Definition
based on principles like justice, fairness, equality, or authority.
The advantage of this approach is that it looks at a problem logically and impartially.
People with this style try to be objective and fair, and above any specific individual's interests.
Disadvantage is that they lose sight of immediate interests of individuals |
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Term
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Definition
is based on a sense of
responsibility to reduce actual harm or suffering
People who prefer this style see moral dilemmas as conflicts of duties or responsibilities.
The disadvantage Is that, when carried to an extreme, this style can produce decisions that seem not simply subjective, but arbitrary. |
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Term
| Define: compliance-based ethics codes |
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Definition
| Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers. |
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Term
| Define: integrity-based ethics codes |
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Definition
| Ethical standards that define the organization's guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees. |
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Term
| six steps many believe can improve U.S. business ethics |
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Definition
1. Top management must adopt and unconditionally support an explicit corporate code of conduct
2. Employees must understand ·that expectations for ethical behavior begin at the top and that senior management expects all employees to act accordingly
3. Managers and others must be trained to consider the ethical implications of all business decisions.
4. An ethics office must be set up with which employees can communicate anonymously.
5. Outsiders such as suppliers, subcontractors, distributors, and customers must be told about the ethics program.
6. The ethics code must be enforced with timely action if any rules are broken. |
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Term
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Definition
| insiders who report illegal or unethical behavior |
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Term
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Definition
protects whistleblowers by
requiring all public corporations to allow employee concerns about accounting and auditing to be submitted confidentially and anonymously.
requires reinstatement and back pay to people who were punished by their employers for passing information about fraud on to authorities |
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Term
| Why should a business be managed ethically |
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Definition
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a. To maintain a good reputation.
b. To keep existing customers.
c. To avoid lawsuits.
d. To reduce employee turnover.
e. To avoid government intervention.
f. To please customers, employees, and society.
g. Simply to do the right thing. |
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Term
| 4 dimensions of corpoare responsibility |
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Definition
Corporate Philanthropy - Charitable donations by the company or its owners
corporate social initiatives - Enhanced forms of corporate philanthropy directly related to the company's competencies.
Corporate Responsibility - Making safe products, responding quickly to dangerous defects, utilizing fair and equitable employment practices
•Corporate Policy - Position corporation takes on social and political issues
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Term
| 3 Non-Social Corporate Responsibilities |
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Definition
•Responsibility to Customers - Satisfy customers with goods of real value that are safe. Create trust with customers
•Responsibility to Investors - Generate profits and police insider trading
•Responsibility to Employees - Create jobs, fair rewards for hard work and talent, respect for employees
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Term
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Definition
An unethical activity in which insiders use private
company information to further their own fortunes or those of their family and friends. |
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Term
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Definition
A systematic eva luation of an organization's progress
toward implementing socially responsible and responsive programs. |
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Term
| what four groups serve as watchdogs for companies ethical and social responsibility policies |
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Definition
SOCIALLY CONSCIOUS INVESTORS: insist that companies extend the company’s own high standards to all their suppliers.
ENVIRONMENTALISTS: apply pressure to companies that don’t abide by the environmentalists’ standards
UNION OFFICIALS: hunt down violations and force companies to comply to avoid negative publicity.
CUSTOMERS: take their business elsewhere if a company demonstrates socially irresponsible practices.
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