Business Ethics Midterm – Flashcards
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business ethics- focus is on what?
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conduct
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when does a conflict arise?
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when an individual must choose to advance his or her own self interest for those of the organization or some other group
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their continued association is absolutely necessary for a firm or corporations survival. Includes employees, customers, investors, stakeholders
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primary stakeholders
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does not typically engage in transactions with a company and isn't essential for a company's survival. Includes media, trade associations, and special interest groups
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secondary stakeholders
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What year was the rise of consumerism?
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1960
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the consumerism anti-business attitude developed what?
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the bill of rights
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what are the four bill of rights?
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right to safety, right to be informed, right to choose, right to be heard
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- The modern consumer movement - Which person criticized the auto industry, put profits and style ahead of lives, formed the consumer protection group (Nader's Raiders), and fought legislation such as safety belts, head restraints, and shatterproof windshields
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Ralph Nader
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-Business ethics became a formal field of study - Consolidation
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1980s
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-Self Regulation rather than government regulation - tariffs and trade barriers lifted and businesses merged, grew, and became global - Ethics programs merged in companies
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Regan/Bush Era
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Federal sentencing guideliness were approved by congress
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1990s
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penalties mitigated for businesses that strived to root out misconduct and establish high ethical and legal standards. Organization are now being held accountable for the misconduct of their employees
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carrot and stick approach
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evaluated the effectiveness of organizational ethical compliance program according to the 7 criteria
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U.S. Sentencing Commission
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7 pillars of an effective compliance program
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1 need a code of conduct 2 need to have a vp of hr/ethical officer with good credentials 3 education and training programs 4 auditing and monitoring of ethics education 5 reporting mechanism 6 punishment and enforcement is consistent of unethical behavior 7 future protection and improvement of ethical compliance programs
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6 spheres of influence- level of importance to each of these influences will vary depending on how important the decision maker perceives the issues to be
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1 workplace 2 family 3 religion 4 legal systems 5 community 6 profession
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sets of values, beliefs, goals, norms, and ways to share problems that members/employees of an organization share. They are related to product quality, customer service and fairness in pricing
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corporate culture
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7. positive, flexible/adaptable, constantly changing
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Innovative
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7. value competition, want all of the market, constantly pushing yourself. Ex. Microsoft
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aggressive
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7. achievement oriented, a lot of employee training/award performance. Ex. Best Buy
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outcome oriented
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7. predictable, effective- know what to expect, goal oriented
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Stable
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7.pays more than minimum wage, low turnover, a lot of perks for employees. Ex: Starbucks
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people oriented
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7.collaborative, want happy employees that make them a lot of money. Ex: Southwest
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team oriented
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7.restaurants, hospitality industry. Ex: Disney, Ritz
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detail oriented
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6. demands obedience and focuses on achievement, initiative, and self control
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coercive leader
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6. considered to be the most effective style- inspires employees to follow a vision, facilitates change, and creates a positive work climate
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authoritative leader
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6.values people, their emotions, and their needs and relies on friendship and trust to promote flexibility, innovation and risk taking
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affiliative leader
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6.relies on participation and teamwork to reach collaborative decisions. This style focuses on communication and creates a positive climate for achieving results
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democratic leader
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6.can create a negative climate because of the high standards he or she sets. This style works best for attaining quick results from highly motivated individuals who value achievement and take the initiative
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Pace setting leader
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6.builds a positive climate by developing skills to foster long term success, delegates responsibility,and is skillful in issuing challenging assignments
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coaching leader
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5. person's ability to influence the behavior of others by offering them something desirable. "Dangling"
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Reward
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5. essentially the opposite of reward power. Penalizes an action on behavior. Uses fear
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Coercive
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5. stems from the belief that certain people have the right to expert influence and that others have an obligation to accept it. Titles and positions appeal to this particular view
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Legitimate
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5. Derived for a person's knowledgeable- or the perception of this knowledge. Usually stems for a superiors credibility with subordinates
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Expert
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5. may exist when one person perceives that his or her goals or objectives are similar to another's. The second person might attempt to influence the first to take action that will lead both to the same objectives.
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Referent
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top managers have the decision making power- no decisions by lower employees no upward communication
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centralized organization
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all authority is delegated, give responsibilities/authority down the chain. benefit: more people feel empowered/responsible
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decentralized organization
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impersonal/impartial approach (men)
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Ethics of justice
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sense of responsibility to reduce the harm/suffering of another. Does not mind making exceptions to the rule
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Ethics of caring
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formal system of accountability- removes opportunity for employees to make unethical decisions- not giving employees opportunity to be unethical
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corporate governance
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individuals in the same department or group that band together. Ex: Smokers, women that are pregnant, finance department
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Informal group
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4 Types of social responsibility that corporations have
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legal, ethical, economic, philanthropic
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effective leaders need these things to be effective and successful
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likeable, vision, confidence, ethical, open to feedback, tactical, disciplined, passion, be inspirational
