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SGMA 217 > Chapter 2: Being Ethical and Socially Responsible > Flashcards

Chapter 2: Being Ethical and Socially Responsible Flashcards

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1
Q

Business Integrity

A

ability to ac honestly, ethically, and socially responsible

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2
Q

How can companies demonstrate their business integrity

A

be honest and transpoarent in reporting earnings, honest promotions, true info about product ingredients, adapting business practices with society’s needs

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3
Q

shareholder

A

people who hold invest and own sharesin a businesse

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4
Q

stakeholder

A

SOMOENE impacted by some event directly

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5
Q

Corporate governance

A

how the organization is governed, directed, and administered

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6
Q

How is corporate governance achieved

A

balancing interest of all stakeholders

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7
Q

Who is reposnosbile for corporate governance

A

the board of directors/ directors manage the organization

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8
Q

How does canada look at board of directors

A

they closely analyze the actions of the board of directors

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9
Q

difference between what companies focus on tradition vs now

A

tradition/ returns of shareholders only
now/ high corporate governance and adress stakeholder concerns

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10
Q

how do business owners/managers inspire their employees

A

with their actions and what is acceptable or not

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11
Q

Ethics

A

the study of right and wrong and of the morality of the choices we make

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12
Q

Business ethics

A

application of moral standard to business situations

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13
Q

3 categories of business ethics

A
  1. competing fairly and honestly
  2. avoiding conflicts of interest
  3. being transparent
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14
Q

Category of business ethics, Competing fairly and honestly

A

FAIR: Don;t be unfair to customers employees or shareholders

HONEST: DONT FALSE ADBERTUSE, DONT DECIEVE OR INTIMIDATE

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15
Q

Category of business ethics, Avoiding conflicts of interest

what is it

A

when employee takes advantsge of a situation for personal interest!

or

complex relationship sbetween coworkers

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16
Q

are bribes illegal! UNETHICAL?

A

YES

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17
Q

What is the employees fundamental job

A

to act in the interest of the employer

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18
Q

Category of Buisness ethics, BEING TRANSPARENT

A

when companies proactively make info publily available to encourage ethical decision making within the org

MEANS YOU SHOULD DISCLOSE EVERYTHING THAT COULD EVEN BE CONFLICT OF INTEREST

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19
Q

TRANSPARENCY

A

FREE FLOW of indo inside and outside the company to
employees
investors
customers
stakeholders

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20
Q

Social responsibility audit

A

this is in the transparency category of business ethics

these are comprehensive reports about what organization is foing in regard to social issues that affect it

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21
Q

what issues do social responsibility audits refer to

A

labour nd treatment of foreign workers
working conditions

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22
Q

are social repsonsibility auditors first party or third party, why

A

third party so that concerns can be adressed objectively

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23
Q

What body in canada promotes confidence in products that are advertised

A

AD STANDARDS

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24
Q

How are levels of government held responsible

A

THEY ARE HELD RESPONSIBLE TO CITIZENS THROUGH THE AUDIT SYSTEM

-Through the Auditor General of Canada resources are ensured to be properly allocated!

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25
Who is the auditor general, wat do they do
independent of the government and they: 1. ensure management information is reliable and complete 2. identifies opportunities for improving controla nd use of public resources 3. makes recommendation to improve systesa dn practices
26
not taking bribes is an example of which branch of business ethics
COMPETING FAIRLY AND HONESTLY
27
3 types of factors that affect ethics
individual factors social factors opportunity
28
Individual factors that iinfluence ehtics -Key influencers
Knpwledge of an issue personal values and goals
29
ethics-Social factors key influencers
the law cultural norms
30
ethics- OPPORTUNITY factors key influencers
competitive environment level of supervision enforcement
31
What is the triangle of ethics
the triangle states that an individual is more motivatred to act unethically when there is - pressure -opporutityny -a way to rationalize the enethical decision/act as consistent with values
32
Stages of ethical development
precconvential -> conventivnaol -> postconvential
33
Preconventional ethics
childlike ethics- calculated self-centred, selfish ethics BASED ON POSSIBILITY OF IMMEDIATE REWARD OR PUNISHMENT like a child your ethics comes from personal gain
34
ex of preconventional ethics
business who doesnt wanna violate carbon emission laws bc he fears the fine
35
ex of preconventional ethics
business who doesnt wanna violate carbon emission laws bc he fears the fine ONLY!!!!
36
Conventional ethics
Geared towards more expectations of soceity, conformity, loyalty, and obedience to organization/society's expectations become important EMPLOYEE ONLY PERFORMING TO THE LEVEL EXPECTED ONLYYY
37
Postconventional ethics
ethical standards of a mature aduly!!!!! people are more concerned about how they percieve and respond ot thesmselves and less about how they are seen
38
ex of post conventional
personally questioning behavoiour that though it is legal maybe it is wrong fast food restaturant might refuse to offer styo stuff bc not environmentally friendly
39
4 steps to see if your decision is legal or/and ethical
1) understand and obey the law 2) Understand an dobey the policies of your org 3) recognize factors that lead to ethical compromises 4) ensure all actions satisfy three components of business ethics (transparency, competing fairly and honestly,
40
what is illegal and ethical
collarborating with others in apositive way (medical companies collaborate to have low price for low income countries) COLLUSION providing rock-bottom prices to distributors in underserved areas
41
ethical grey areas
Laws and regualtions can be hard to interpret
42
what three main parties can promote acceptable levels of ethical behaviour
the government, trade associations, and organizations
43
What is the role of govt in encouraging ethics
the legislate more regulations!
44
canada consumer product safety act
more safety in consumer products
45
competition act
prevents anti-competiitve practicies
46
food and drugs act
protects canadians against health harazards and frauds in these two industries
47
Consumer packaging and labelling act
requires uniform packaging and labelling of goods to prevent misconception
48
texttile labelling act
requires cloth labels to contain meaningful ifo
49
motor vehicle safety act
regulates manuafactore and imporations of motor vehicles to prevent damage and injuries
50
How do trade associaitions encoruage ethics
for their members, they exert pressure on members to stop enganging in questionable business practiices such as you cant dine your clients
51
how do orgnaizaitons encourage ethics
companies promote ethics in 4 ways: 1. commitement to it by leadershipa 2. adopt a code of thics 3. designate ethics officer 4. protect whistle blowers
52
How to solve ethical dilemma
1. listen and learn 2. idenitfy the ethical issue 3. analyze options 4. identify best option 4. explain your decision resolve differences
53
what is ethical dilemma
decisions where every alternative impacts stakeholders badly
54
social resposibility
is the recognition that business actiivites have an impact on osciety and that impacts must BE CONSIDERED
55
How manymenamagemetn attitudes doe social responsibility have?
2 ECONOMIC MODEL SOCIOEOCNOMIC MODEL
56
Economic model of social responisbility
society will benefit most when business is only produceing and marking profitable products that society needs BELIEF THAT SOCIAL OBLIGATIONS ARE MET THROGUH THE BASIC FUNCITONING OF A BUSINESS, NO NEED TO DO EXTRA STUFF- THAT GOVT HOB
57
Justificaitons for eocnominc model of sr
1. business manageers resposnibilte to mostly shareholders 2. corporate taletn should be used to productive efficeny 3. social problems cant be solved by individual businesses
58
GOAL OF A BUSINESS IN ECONOMIC MODEL what is ethics level
to make a profut preconventional/conventional
59
The socioeconmic model fo social repsonsibipuly
Managers accountable to society as a whole and the gen pop FOCUSES ON PROFITS AND ALSO ON THE IMPACT OF BUSINESS DECISIONS TO SOCEITY!
60
What level of ethics is socioeconomic model of social responsility
Conventional.post conventional
61
goal of socio eocnomic model of sr
TO SERVE COMMUNITY AND ALSO SEEK PROFITS
62
Strategic giving
giving something with an expectation to gain something companies use this in the socioeconomic model!!!!!!! of social responsibility
63
vestedd interest
a stake
64
primary stakeholders examples
investors employees customers suppliers gen public
65
what do investors want in their companies
ethical and posibitive reputation
66
social investing/ethical investing/green investing
investors loojing sfor opportunityies that align with their beliefs and balues
67
canadian human rights act employment equity act
ensures all employeees in federal orgs treated equally employment equal opps for women people with disabilities aboriginal and visible minorities
68
which commision is responsible for determinignw ehtehter empolyers fulifll legal obligations to rep mionrity groups
the canadian human rights commission
69
customers vs consumers
customers purchase shit consumers consume it
70
in the past consumers were subject to what
caveat emptor- BUYER BEWARE!!!! WHAT YOU SEE WHAT YOU GET once canadian associaation of ocnsumers formed, then it chanded
71
each province has what
own cosnueer protection legislation
72
4 basic consumer rights
1. right to sagety (instructions) 2. right to be informed (product details) 3. right to choose (choice of products) 4. right to be heard (companies must respond)
73
how do businesses support their suppliers
give contracts pay invocies give appropaorite lead times
74
WHAT IS THE KEY TO SUPPLY CHAIN RESPONISBILITY
EVERY OCMPANY INT EH CHAIN SHOULD BE ETHICAL AND SOCIALLY REPSONSIBLE!!!! OR NONE CAN SAY THEY ARE
75
WHAT CAN SUPPLIERS DO
Suppliers can decrease costs and create efficiencies, allowing businesses to focus on their core activities.
76
HOW CAN COMpanier reduce environmental impact
redue waste from operations! identify eliminate ineffieicneince
77
sustainiablity
actiivites that meet the needs of present without compromising futures
78
substainability strategies
1. product design improvments (Reduce bad mateirals) 2. faclitiy and vehicle improvements (eneregy efficiency campaigns) 3. community outreach (Recycling campaigns)

SGMA 217 (13 decks)

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