Ch.4 – Ethical and Social Environment: Management – Flashcards
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Ethics
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An individual's personal beliefs about whether a behavior, action, or decision is right or wrong.
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Ethical Behavior
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Behavior that confirms to generally accepted social norms.
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Unethical Behavior
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Behavior that does not confirm to generally accepted social norms.
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Managerial Ethics
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Standards of behavior that guide individual managers in their work.
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Code of Ethics
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A formal, written statement of the values and ethical standards that guide a firm's action.
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Organizational Justice
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The perceptions of people in an organization regarding fairness.
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Sarbanes-Oxley Act
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A law passes in 2002 that requires CEo's and CFO's to personally vouch for the truthfulness and fairness of their firms' financial disclosures.
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Social Responsibility
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The set of obligations an organization has to protect and enhance the societal context in which it functions.
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Organizational Stakeholder
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Person or organization who is directly affected by the practices of an organization and has a stake in its performance.
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Obstructionist Stance
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An approach to social responsibility in which firms do as little as possible to solve social or environment problems.
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Defensive Stance
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A social responsibility stance in which an organization does everything that is required of it legally, but nothing more.
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Accommodative Stance
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A social responsibility stance in which an organization meets its legal and ethical obligations but will also go beyond these obligations in selected cases.
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Proactive Stance
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A social responsibility stance in which an organization views itself as a citizen in a society and proactively seeks opportunity to contribute.
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Regulation
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Government's attempt to influence business by establishing laws an rules that dictate what business can and cannot do.
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Lobbying
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The use of persons or groups to formally represent a company or group of companies before political bodies to influence the government.
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Political Action Committee (PAC)
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An organization created to solicit and distribute money to political candidates.
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Legal Compliance
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The extent to which an organization complies with local, state, federal, and international laws.
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Ethical Compliance
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The extent to which an organization and its members follow basic ethical standards of behavior.
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Philanthropic Giving
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Awarding funds or gifts to charities or other worthy causes.
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Whistle-blowing
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The disclosing by an employee of illegal or unethical conduct on the part of others within the organization.
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Corporate Social Audit
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A formal and thorough analysis of the effectiveness of a firm's social performance.
