Business ethics Final

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

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