Chapter 3 Flashcards
(42 cards)
The major purpose of business is to ________.
Serve
Representing people, planet and profit - measures an organization’s social, environmental, and financial performance.
Triple Bottom Line
A systematic assessment of a company’s responsible programs, often based on predefined goals.
Social Audit
Millennial
- Born between 1977 and 2000
- Care about the Triple Bottom Line
- Concerned about business ethics, motives and methods
- More concerned for others and less interest in material goods
- Want a work balance life
Most ethical conflicts are about choosing between ___________ and _______________.
Economic performance and social performance
A situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal.
Ethical Dilemma
The standards of right and wrong that influence behaviour
Ethics
Behavior that is accepted as “right” as opposed to “wrong” according to those standards.
Ethical Behavior
Five Most unethical behaviors at work:
(1) Misusing company time
(2) Abusive behavior
(3) Employee theft
(4) Workplace cheating
(5) Violating corporate Internet policies
As “subordinates” perceptions of the extent to which supervisors engage in the sustained display of hostile verbal and nonverbal behaviors, excluding physical contact.
Abusive Supervision
Defined as unethical acts that are intended to create an unfair advantage or help attain benefits that an employee would not otherwise be entitled to receive
Workplace Cheating
The pattern of values within an organization
Value System
The relatively permanent and deeply held underlying beliefs and attitudes that help determine a person’s behaviour.
Values
Organizations may have two important value systems that can conflict:
(1) The value system stressing financial performance
(2) The value system stressing cohesion and solidarity in employee relationships
Four Approaches to Resolving Ethical Dilemmas
(1) Utilitarian Approach
(2) Individual Approach
(3) Moral Rights Approach
(4) Justice Approach
Guided by what will result in the greatest good for the greatest number of people
Utilitarian Approach
Guided by what will result in the individual’s best long term interests, which ultimately are in everyone’s self interest.
Individual Approach
Guided by respect for the fundamental rights of human beings
Moral-Rights Approach
Guided by respect for impartial standards of fairness and equity
Justice Approach
The illegal trading of a company’s stock by people using confidential company information
Insider Trading
Established requirements for proper financial record keeping for public companies and penalties of as much as 25 years in prison for noncompliance.
Sarbanes-Oxley Act of 2002
Laurence Kohlberg
Proposed 3 levels of personal moral development- pre-conventional, conventional and post-conventional
Level 1 - Pre-conventional
Follows rules and obeys authority to avoid unpleasant consequences
Level 2- Conventional
Follows expectations of others and lead by encouragement and cooperation and are more group and team oriented
