BUS Law Quiz – Flashcards
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Nature Business Ethics:
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-standards that guide business behavior & individuals
-most basic ethics become laws & regulations
-ethics should go beyond laws
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Classification of Ethical Issues:
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An ethical issue is a problem, situation, or opportunity requiring an individual, group, or organization to choose among several actions that must be evaluated as right or wrong, ethical or unethical.
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Conflict of Interest:
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A conflict of interest exists when an individual must choose whether to advance his or her own interests, those of his or her organization, or those of some other group.
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Factors that Influence that Decision-Making Process
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-Individual Factors
-Organizational Relationships
-Opportunity
-Ethical or Unethical Decisions
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Ethical Climate:
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Part of a corporate culture that relates to an organization's expectations about appropriate conduct that focuses specifically on issues of right and wrong.
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Significant Others:
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-The chief executive officer establishes the ethical tone for the entire firm.
-Executive leadership helps determine the ethical value system of the firm.
- "Group-think" = going along with group decisions even when those decisions run counter to an employee's own values.
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Opportunity:
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-Organizational culture may foster conditions that either hinder or permit misconduct.
-Opportunity is a set of conditions that limit barriers or provide rewards.
