BUSINESS ETHICS Flashcards
(27 cards)
What Greek word does ethics come from?
Ethos
This pertains to the values, norms, and beliefs that determine how people behave in everyday life.
Ethics
Systems and actions that guide
people on how to live their lives as they
relate to other people around them.
Ethics
TRUE OR FALSE?
Business ethics is based on the personal values and standards of each person in the organization?
True
Refers to standards of moral conduct,
behavior and judgment in business. Involves making the moral and right decisions while engaging in such business
activities.
BUSINESS ETHICS
An area of corporate responsibility
where businesses are legally bound and
socially obligated to conduct business in
an ethical manner.
BUSINESS ETHICS
An alternative channel where employees can provide information on illegal, unethical transactions or behavior prohibited by the Code of Conduct should be established.
Whistleblower Channel
This is characterized by actively misrepresenting about the product or customers: deceptive
packaging, misbranding or mislabeling ,
false advertising.
Direct Misrepresentation
This is debasing a pure or genuine commodity by imitating or counterfeiting it.
Adulteration
This is the type of misrepresentation where the weighing scale is tampered with or something is attached to it so that the scale registers more than the actual weight.
Weight Understatement
The type of misrepresentation where the seller gives the customer less than the number asked for or paid for.
Quantity Understatement
The type of unethical business practice where the seller is not obligated to reveal any defect in the product or service he is
selling.
Indirect Misrepresentation
(Caveat Emptor)
Ignorance of seller where he is unable to provide the
customer with complete information the latter needs to make a fair decision.
Passive Deception
The process of appealing to the emotions of a prospective customer and urging him to buy an item,
without considering the interest of the buyer.
Over-Persuasion
Actions of the corporation and its officers, that are contrary to prevailing laws and gov’t regulations.
Illegal Acts
Actions of the corporation and its officers, that are
against social norms or unacceptable to
the public.
Unethical Acts
This is a collection of rules and principles
intended to assist employees and directors
in making decisions about their conduct in
relation to the firm’s business.
Code of Conduct
TRUE OR FALSE:
There are different aspects to ethical decision making; different individuals can have varying legitimate perspectives on ethical issues.
True
TRUE OR FALSE:
The ethical intensity of the issue does not influence the decision; ethical decisions are always universal.
False
TRUE OR FALSE:
It is important to know one’s own values, as that influences how one sees, interprets and relates to organizational values.
True
TRUE OR FALSE:
Organizational values should be implicit and rarely discussed within work.
False
TRUE OR FALSE:
Formal policies, codes and rules should be supported by organizational management to limit the opportunity for ethical behavior.
False
TRUE OR FALSE:
The ethical intensity of the issue may influence the decision. In other words, ethical decisions are not necessarily universal, but may be situational.
True
TRUE OR FALSE:
Knowing one’s own values is irrelevant to how one interprets and relates to organizational values.
False
