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Flashcards in Chapter 3 Deck (15):
1

Triple bottom line

Representing People, Planet, and Profit
Measures and organizations social, environmental, and financial performance

2

Stakeholders

The people whose interests are affected by an organizations activities
Internal and external

3

Internal stakeholder include:

Employees, owners, and board of directors

4

External stakeholders include:

The task environment: customers, competitors, suppliers, distributors,, allies, unions, lenders, governments, interest groups, media
The general environment: Economic forces, technological forces, sociocultural forces, demographic forces, political-legal forces, international forces

5

Ethical dilemma

Situation in which you have to decide whether to purse a course of action that may benefit you or your organization but that is unethical or even illegal

6

Ethics

Standards of right and wrong that influence behavior

7

Values

Relatively permanent and deeply held underlying beliefs, and attitudes that help determine a personas behavior

8

Utilitarian approach to deciding ethical dilemmas

Guided by what will result in the greatest good for the greatest number of people

9

Individual approach to deciding ethical dilemmas

Guided by what will result in the individuals best long term interest, which ultimately are in everyone’s self interest

10

Moral-rights approach to deciding ethical dilemmas

Guided by respect for the fundamental rights of human beings

11

Justice approach to deciding ethical dilemmas

Guided by respect for impartial standards of fairness and equity

12

What are the three levels to moral development

Level 1: Pre-conventional- follows rules
Level 2: Conventional - follows expectations of others
level 3: Post-conventional- guided by internal values

13

Social responsibility

Mangers duty to take actions that will benefit the interests of society as well as of the organization

14

Corporate social responsibility

Notion that corporations are expected to go above and beyond following the law and making a profit

15

Philanthropy (Social responsibility)

“Not dying rich”
Making charitable donations to benefit humankind