Lecture 4 Flashcards
are situation in which there is a choice to be made between two options neither of which resolves the situation in an ethically acceptable fashion
ethical dilemma
the degree of concern people have about the ethical issue
ethical intensity
managers often
Hire people who are like them
Think they are immune to conflicts of interest
Take more credit than they deserve
Blame others when they deserve some blame themselves
An ethical principle guided by what will result in the greatest good for the greatest number of people
utilitarian approach
This approach is guided by what will result in the individual’s best long-term interests, which ultimately are in everyone’s self-interest.
individual approach
This approach is guided by respect for the fundamental rights of human beings such as life, liberty, and pursuit of happiness.
Moral Rights Approach
This approach is guided by respect for impartial standards of fairness and equity.
Justice Approach
theory of corporate social responsibility that holds that mangers are agents of shareholders whose primary objective is to maximize profits
shareholder model
theory of corporate social responsibility that suggests that managers are obliged to look beyond profitability to help their organizations succeed by interacting with groups that have a stake in the organization
stakeholder model
Company mechanisms typically designed by corporate counsel to prevent, detect, and punish legal violations
compliance based ethics programs
Company mechanisms designed to instill in people a personal responsibility for ethical behavior
integrity based ethics programs
An act that established strict accounting and reporting rules to make senior managers more accountable and to improve and maintain investor confidence
Sarbanes-Oxley Act
goes beyond philanthropy and compliance and addresses how companies manage their economic social and environmental impacts, their relationship
CSR coorporate
