Chapter4:Management Ethics and Social Responsibility – Flashcards
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is the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong.
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Ethics
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-codified law -domain of Ethics -domain of Free Choice
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human behavior falls into 3 categories
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which values and standards are written in the legal system and enforceable in the courts.
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Codified Law
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licenses for cars, paying corporate taxes, or following other local, state, national laws
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examples of Codified Law
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pertains to behavior about which the law has no say and for which an individual or organization enjoys complete freedom.
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Domain of Free Choice
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deciding where to buy a new suit, or choosing which of two well-qualified candidates to hire for an open position
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examples of Free Choice
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this domain has no specific laws, yet it does have standards of conduct based on shared principles and values about moral conduct that guide an individual or company.
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Domain of Ethics
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-false or deceptive sales practices -submitting misleading invoices -fabricating product quality data
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unethical towards customers
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-falsifying financial reports -breaching database controls -using confidential information
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unethical towards financiers
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-violating environmental standards -exposing public to safety risks -violating international human rights
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unethical towards society
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-accepting favors or kickbacks -violating contract terms -paying without accurate records or invoices
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unethical towards suppliers
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-discriminating against employees -creating a hostile work environment -violating health and safety rules
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unethical towards employees
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arises in a situation concerning right or wrong when values are in conflict, alternative choices or behaviors have potentially negative consequences, right or wrong cannot be clearly distinguished.
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ethical dilemma
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the individual who must make an ethical choice in an organization
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moral agent
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the moral behavior produces the greatest good for the greatest number
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utilitarian approach
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contends that acts are moral if they promote the individual's best long-term interests.
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individualism approach
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asserts that human being have fundamental rights and liberties that cannot be take away by an individual's decision
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moral-rights approach
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holds that moral decisions must be based on standards of equity, fairness, and impartiality
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justice approach
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requires that different treatment of people not to be based on arbitrary characteristics. i.e. men and women should not receive different salary if they have the same qualifications for a job
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distributive justice
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requires that rules be administered fairly. rules should be clearly stated and consistently and impartially enforced.
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procedural justice
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argues that individuals should be compensated for the cost of their injuries by the party responsible
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compensatory justice
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sidesteps debates about what is right,good, or just, and bases decisions on prevailing standards of the profession and the larger society, taking the interests of all stakeholders into account.
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practical approach
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individuals are concerned with external rewards and punishments and obey authority to avoid detrimental personal consequences.
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preconventional level
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people learn to conform to the expectations of good behavior as defined by colleagues, family, friends, and society.
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conventional level
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individuals are guided by an internal set of values based on universal principles of justice and right and will even disobey rules or laws that violate these principles.
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postconventional
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20%
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percentage of adults to reach postconventional
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is any group or person within or outside he organization that has some type of investment or interest in the organization's performance and is affected by the organization's actions.
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stakeholder
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provides a systematic way to identify the expectations, needs, importance, and relative power of various stakeholders, which may change over times.
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stakeholder mapping
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is a special interest group of particular importance today
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green movement
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refers to the economic development that generates wealth and meets the needs of the current generation while preserving the environment and society so future generations can meet their needs as well
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sustainability
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companies that embrace sustainability measure performance in terms of financial performance, social performance, and environmental performance
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triple bottom line
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the first criterion of social responsibility, the business institution is, above all, the basic economic unit of society. its responsibility is to produce the goods and services that society wants and to maximize profits for its owners and shareholders.
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economic responsibility
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economic responsibility carried to the extreme, this view argues that the corporation should be operated on a profit-oriented basis, with its sole mission to increase its profits so long as it stays within the rules of the game
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profit-maximizing view
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obey the law
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legal responsibility
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be ethical. do what is right. avoid harm.
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ethical responsibility
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is purely voluntary and is guided by the organization's desire to make social contribution not mandate by economics, laws, or ethics
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discretionary responsibility
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is a formal statement of the company's values concerning ethics and social issues; it communicates to employees what the company stands for.
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code of ethics
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are designed to affect corporate culture; they define fundamental values and contain general language about company responsibilities, quality of products, and treatment of employees
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principle based statements
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generally outline the procedures to be used in specific ethical situations. these situations include marketing practices, conflicts of interest, observance of laws, proprietary information, political gifts, and equal opportunities.
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policy-based statements
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general statements of principle
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corporate credos
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is a group of executives appointed to oversee company ethics
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ethics committee
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a company's executive who oversees all aspects of ethics and legal compliance
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chief ethics officer
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employee disclosure of illegal, unethical, or illegitimate practices on the employer's part
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whistle-blowling
