Chapter 2: Ethics And Social Responsibility Vocab

Question 1

Sets standards of good or bad, right or wrong, in our conduct

Answer 1

Ethics

Question 2

Is “right” or “good” in the context of a governing moral code

Answer 2

Ethical behavior

Question 3

Broad beliefs about what is appropriate behavior

Answer 3

Values

Question 4

Preferences about desired end states

Answer 4

Terminal values

Question 5

Preferences regarding the means to desired ends

Answer 5

Instrumental values

Question 6

What view says that ethical behavior delivers the greatest good to most people

Answer 6

Utilitarian View

Question 7

What view says that Ethical behavior advances long-term self/interests

Answer 7

Individualism view

Question 8

What view says that ethical behavior treats people impartially and fairly

Answer 8

Justice view

Question 9

Focuses on the fair application of policies and rules

Answer 9

Procedural justice

Question 10

Focuses on treating people the same regardless of personal characteristics

Answer 10

Distributive justice

Question 11

The degree to which others are treated with dignity and respect

Answer 11

Interactional justice

Question 12

Focuses on the fairness of exchanges or transactions

Answer 12

Commutative justice

Question 13

What view says ethical behavior respects and protects fundamental rights

Answer 13

Moral rights view

Question 14

Suggests there is no one right way to behave; cultural context determines ethical behavior

Answer 14

Cultural relativism

Question 15

Suggests ethical standards apply universally across all cultures

Answer 15

Moral absolutism

Question 16

An attempt to impose one’s ethical standards on other cultures

Answer 16

Ethical imperialism

Question 17

A situation that, although offering potential benefit or gain, is also unethical

Answer 17

Ethical dilemma

Question 18

Well thought out personal rules and strategies for ethical decision making

Answer 18

Ethical framework

Question 19

Who chooses to behave unethically

Answer 19

Immoral manager

Question 20

Who fails to consider the ethics of his or her behavior

Answer 20

Amoral manager

Question 21

Makes ethical behavior a personal goal

Answer 21

Moral manager

Question 22

Seeks to help people understand the ethical aspects of decision making and to incorporate high ethical standards into their daily behavior

Answer 22

Ethics training

Question 23

Highlight the risks from public disclosure of one’s actions

Answer 23

Spotlight questions

Question 24

Expose misconduct of organizations and their members

Answer 24

Whistleblowers

Question 25

A formal statement of values and ethical standards

Answer 25

Code of ethics

Question 26

People and institutions most directly affected by an organization’s performance

Answer 26

Stakeholders

Question 27

The obligation of an organization to serve its own interests and those of its stakeholders

Answer 27

Corporate social responsibility (CSR)

Question 28

What Organizational performance includes financial, social, and environmental criteria

Answer 28

Triple bottom line

Question 29

3 P’s of organizational performance

Answer 29

Profit People Planet

Question 30

What view says that business should focus on the pursuit of profits

Answer 30

Classical view of CSR

Question 31

What view says that businesses should focus on contributions to society, not just making profits

Answer 31

Socioeconomic view of CSR

Question 32

Exists when corporate social responsibility leads to improved financial performance that leads to more social responsibility

Answer 32

Virtuous circle

Question 33

Approaches business decisions with understanding that economic gains and social progress are interconnected

Answer 33

Shared value

Question 34

One in which the underlying business model directly addresses a social problem

Answer 34

Social business

Question 35

Take business risks to find novel ways to solve pressing social problems

Answer 35

Social entrepreneurs

Question 36

Measures and reports on an organizations performance in various areas of corporate social responsibility

Answer 36

Social responsibility audit

Question 37

A goal that addresses the rights of present and future generations as stakeholders of the world’s natural resources

Answer 37

Sustainability

Question 38

Where firms operate in ways that both meet the needs of customers and protect or advance the well-being of or natural environment

Answer 38

Sustainable business

Question 39

Making use of natural resources to meet today’s needs while also preserving and protecting the environment for use by future generations

Answer 39

Sustainable development

Question 40

The storehouse of natural resources— atmosphere, land, water, and minerals— that we use to sustain life and produce goods and services for society

Answer 40

Environmental/natural capital

Question 41

Global quality standards that certifies organizations that set environmental objectives and targets, account for the environmental impact of their activities, and continuously improve environmental performance

Answer 41

ISO 14001