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Business ethics Final

Principles are
specific and pervasive boundaries for behavior that are universal and aboslute
social responsibility is
an organizations obligation to maximize its positive effects and minimize its negative effects on stakeholders
Term business ethics means
compromises the principles, values, and standards that guide behavior in the world of business
important to study B.E. except
persons own moral philosophies and decision-making experience may not be sufficient to guide him or her in the business world.
all are drivers of profit except
opportunity for misconduct
more than a compliance program, business ethics is becoming
a management issue to achieve competitive advantage.
ethical culture is
acceptable behavior as defined by the company and industry
which is not a benefit of being ethical
high degree of employee dissent
employees’ perceptions of their firm as having an ethical climate leads to
enhanced performance
employees feel less pressure to compromise ethically when
they see honesty, respect, and trust
most organizations focus on the core value of placing___ interests first.
customers’
those who have a claim in some aspect of a firms products are
stakeholders
stakeholders’ power over businesses stems from their
ability to generate profit
a firm that makes use of a ___
stakeholder interaction model
what generates a higher level of trust
financial services
a stakeholder group that is absolutely necessary for a firm’s survival is
primary
which is not associated with stakeholder interaction model
explicitly acknowledges dialogue with a firms external environment
___ ties an organizations products directly to a social concern
cause-realted marketing
not a benefit to businesses of engaging in voluntary responsiblites
improve employee compensation and retention
anticompetitive strategies except
free samples
___ law prohibits specific actions
criminal
ethical decision making process begins
conflict in values
not a criminal/civil law
judicial
not an aspect of the institutionalization of social responsiblity
familial responsibilities
the ___ established after the latest financial crisis
consumer financial protection bureau
defined as any purposeful communication that deceives…
fraud
lying destroyes
trust
conflicts of interest exist when employees
advance their own personal interest
optimization is
a trade-off between equity and efficiency
not a group that receives special legal protection
the highly educated
not a provision of sarbanes-oxley act
discourages the creation of ethical and legal compliance programs
__ law defines the rights and duties
civil
__ focuses on developing sound organization practices
core practices
three ethical issues
misuse of company time, abusive behavior, lying to employees
unfair competition
taking an extensive lunch break & not ringing up all items at the checkout
ability to influence
reward power
external and internal rewards relate to
opportunity framework
organization that delegates decision making
decentralized
absence of punishment provides __
opportunity
__ decreases unethical practices
good personal values
__ first sign that an unethical decision has occured
guilt
___organization factor that gives a company specific characteristics.
corporate culture
in order for whistle-blowing to be effective
requires that the individual have adequate knowledge
perceived relevance or importance of an ethical issue
ethical issue intensity
motivation is
force within the individual that focuses his or her behavior on a goal
expert power usually stems from
a superior’s credibility with his or her subordinates
cultural audit may be used to identify
an organizations culture
morally right and acceptable philosophy is
teleology
___ involves subordinates simply following the directives of a superior
obedience to authority
rights of individuals is what philosophy
deontology
advantage of decentralized organization is
adaptable and can quickly respond to external change.
centralized organizations
laws and regulations
decentralized organizations
more flexible and adaptable
white collar crime
power abuse. non-violent criminal act
role of leadership
having a set core of values instilled
compliance based
legalistic approach to ethics
values based
relies upon an explicit mission statement
Kinds of power:
reward, coercive, legitimate, expert, referent
factors in creating framework
Opportunity, Individual factors, Ethical issue integrity, Corporate culture
4 organization cultures
Apathetic, Caring, Exacting, Integrative
first step in auditing process
secure the commitment
___ are primary stakeholders
customers
ethical leadership should be based on
holistic thinking that embraces the complex issues facing firms everyday.
“invisible hand”
laissez-fair
___ allows for private ownership of property
social democracy
tool that companies can employ to identify and measure
ethics audit
___ based upon the assumption that people are predictable
rational economics
to improve firms ethical standards
terminate “bad apples”
charging high prices for products sold in home markets
dumping
types of leader that attempts to create employee satisfaction
transactional leaders
4 steps in recovery
take corrective action, compensate stakeholders harmed by misconduct, express regret for the misconduct, reinforce the firms reputation with positive messages
compliance
uses laws and regulations, specific required conduct
values
strives for shared values and focuses on accountability and commitment
importance of ethical decision making
prevent future risks worldwide
benefits of ethical auditing
detect ethical misconduct before it becomes major, better account for the company’s actions, learn about the ethical culture
RADAR
Recognize ethical issues, Avoid misconduct, Detect ethical risk areas, Answer stakeholder concerns, Recover

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