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MGMT Exam #1 > Chapter 2: Things To Know > Flashcards

Chapter 2: Things To Know Flashcards

1
Q

Responsibility

A

The ability or authority to act or decide on one’s own without supervision

Personal and Corporate

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2
Q

In looking for people to hire, you look for three qualities:

A

1) integrity
2) intelligence
3) energy

And if they don’t have the first, the other two will lol you”
-Warren Buffett

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3
Q

Trust blown destroys

A

Value

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4
Q

Spider-Man reference to responsibility

A

With great power comes great responsibility

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5
Q

Volkswagen responsibility

A

Said all cars were running on clean diesel which was a lie

  • put in place a software to say car is in testing mode and running on clean diesel
  • costs them 50+ billion dollars
  • several execs. in jail
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6
Q

What/How do most people want to do things at their job

A

Responsibility and ethically, some don’t and get their companies in trouble and they lose millions of dollars

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7
Q

Three steps to teaching ethics

A

Awareness
Judgement
Behavior

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8
Q

PONG in ethics

A

Personal
Organizational
National
Global

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9
Q

Which part of ethics PONG is most important

A

Personal

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10
Q

Ethics Resource Center Statistics and their percent point changes

A

41% workers observed misconduct (change by 4%)
63% reported observed misconduct (change by 2%): negative
21% perceived retaliation from misconduct report (change by 1%)
9% perceived pressure to commit a misconduct (change by 4%): second lowest number of people

Negative Trend

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11
Q

Five most frequently observed misconduct (ethics resource center)

A 
Discrimination 
Conflict of Interest 
Internet Bad Use
Abusive Behavior 
Lying to Employees
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12
Q

Trend on misconduct is

A

Declining

Sarbanes Oxley Act

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13
Q

Global business ethics survey top misconduct categories

A 
Bribes and Corruption
Regulatory Violations 
Fraud/Lying and Theft 
Contract Misconduct
Employee Abuse
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14
Q

Ethics Basic Definition

A

Set of Principles
Right Conduct
Underlying Values

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15
Q

Where should start with ethics

A

Personal values

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16
Q

Example of Ethics

A

Greys Anatomy

  • serial killer wants to kill himself so kid can get organs
  • dr Bailey walks in and tells Derek to stop operating bc he’s trying to kill himself anyways
  • Derek asks tells her she has to decide whether he’s an executioner or a surgeon
  • Bailey tells him to pick up the scalpel
  • ethical thing to do
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17
Q

International Business Ethics

A

Cultural Relativism: every culture/nation I operate in, I do what they say
Moral Absolutism: someone that says MY country, MY company, MY home country protocols

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18
Q

Hyper-Norms

A

Ethical protocols shared across nations

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19
Q

Custom and Culture vs Ethics

A

Custom and Culture can be way different in different parts of the world but Ethics is not.

Ethics tends to cross among trading nations

20
Q

Conventional Approach (Societal Norm Focus)

A

Comparison of: decision, behavior or practice
To: prevailing Norms of acceptability

What is to what society says is the norm.
Measure and assess what’s happening
Common sense ethics

21
Q

Principles Approach Moral Reasoning

A

Individualism (personal interest)
Moral rights (fundamental rights)
Utilitarian (greater good for most)
Justice (fairness and impartiality)

22
Q

Ethical decision making assessment framework

A

Structured way to address an ethical issue

Awareness 
Facts
Stakeholder
Standards
Values
Actions
23
Q

When a male supervisor talks to female employees, he calls them “sweetie”. You his boss hear this. What to do?

A

Talk to HR and get help

24
Q

Use the ethical decision making framework to assess the supervisor calling woman “sweetie”

A

1) ask what’s going on, use of term, sexual harassment
2) find out if everyone is comfortable/ are people complaining abt his actions
3) the stakeholders are everyone that works in the department up to customers, legal advisors, HR etc.
4) standards are company policy, state laws (code of conduct etc)
5) personal values towards situation
6) talk to HR and get help (hostile workplace)

25
Q

Kolberg’s Levels of Moral Development

A 
Level 1: self (preconventional) 
1) punish 
2) reward
Level 2: others/social (conventional) 
3) good
4) law
Level 3: all principles (postconventional)
5) fairness 
6) universal
26
Q

Level 1: preconventional examples

A

1) time out: punishment

2) ice cream: reward

27
Q

Level 2: Conventional examples

A

3) conform to social norms (contribution): good

4) learn to drive and agree to stop at the lights and be a part of society: law

28
Q

Level 3: Post-conventional Examples

A

6) giving back/ habitat for humanity: fairness

7) making a difference; great power= great responsibility: universal principles

29
Q

Which level of moral development are you practicing when volunteering to work on a project for habitat humanity

A

5: Fairness

30
Q

7 parts of ethical culture

A 
Leadership Support 
Code of Ethics 
Ethics Officers
Compliance Standards 
Company wide training 
Clear communication 
Detection/Prevention: accountability

Example given was Lockheed Martin

31
Q

Th job is yours ethics clip

A
  • worker is gonna be given a promotion but just needs to complete one material task
  • 17 crates coming in and boss asks worker to report 16 to get the promotion
  • thinks it over and his wife wants him to do it because they need the money
  • he says no and makes the right decision to not lie and break his moral value
  • gets promotion bc he has integrity and did the ethically right thing
32
Q

Factors Influencing Employee Unethical Behavior

A 
Behavior of Superiors (#1) 
Behavior of Peers 
Industry Ethical Practices 
Society’s Moral Climate
Personal Financial Need
33
Q

Fortune 1000 approach to ethics

A

Rules (found in a compliance document)

Ethics/Values (found in a Code of a Conduct)

34
Q

If someone says you need to take an ethics approach where would you look for this at a company

A

Code of Conduct

35
Q

Question with profit

A

Is the decision economically sound

36
Q

Question w people

A

Is the decision socially responsible

37
Q

Question w planet

A

Is the decision environmentally sound

38
Q

Four criteria for evaluating socially responsible practices

A

Economic
Legal
Ethical
Discretionary

39
Q

Economic responsibility

A

Be profitable

40
Q

Legal responsibility

A

Obey the law

41
Q

Ethical responsibility

A

Do what is right

42
Q

Discretionary responsibility

A

Contribute to the community

43
Q

Zone of compliance

A

Economic and legal responsibility

44
Q

Zone of conviction

A

Ethical and discretionary responsibility

45
Q

Example of terminal values (ends)

A

Self-respect
Wealth
Happiness

46
Q

Instrumental values (means) examples

A

Ambition
Courage
Imagination
Self-discipline

MGMT Exam #1 (8 decks)

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