Chapter 7 Flashcards
(27 cards)
Business ethics
The moral principles and standards that guide behaviour in the world of business.
Carbon footprint
The output of carbon dioxide and other greenhouse gases.
Caux principles
Ethical principles established by international executives based in Caux, Switzerland, in collaboration with business leaders from Japan, Europe and the United States.
Compliance-based ethics programs
Company mechanisms typically designed by corporate counsel to prevent, detect, and punish legal violations.
Corporate social responsibility (CSR)
Obligation toward society assumed by business.
Ecocentric management
Its goal is the creation of sustainable economic development and improvement of quality of life worldwide for all organizational stakeholders.
Economic responsibilities
To produce goods and service that society wants at a price that perpetuates the business and satisfies its obligations to investors.
Egoism
An ethical system defining acceptable behaviour as that which maximizes consequences for the individual.
Ethical climate
In an organization, the processes by which decisions are evaluated and made on the basis of right and wrong.
Ethical leader
One who is both a moral person and a moral manager influencing others to behave ethically.
Ethical responsibilities
Meeting other social expectations, not written as law.
Ethics
The system of rules that governs the ordering of values
Integrity-based ethics programs
Company mechanisms designed to instil in people a personal responsibility for ethical behaviour.
Kohlberg´s model of cognitive moral development
Classification of people based on their level of moral judgement.
Legal responsibilities
To obey local, state, federal and relevant international laws.
Life-cycle analysis (LCA)
A process of analyzing all inputs and outputs, through the entire´´ cradle-to-grave´´ life of a product to determine total environmental impact.
Moral philosophy
Principles, rules, and values people use in deciding what is right or wrong.
Philanthropic responsibilities
Additional behaviours and activities that society finds desirable and that the values of the business support.
Relativism
Philosophy that bases ethical behaviour on the opinion and behaviours of relevant other people.
Sarbanes-Oxley Act
An act passed into law by Congress to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence.
Stewardship
Contributing to the long-term welfare of others.
Sustainable growth
Economic growth and development that meets present needs without harming the needs of future generations.
Transcendent education
An education with fice higher goals that balance self-interest with responsibility to others.
Triple bottom line
Economic, social, and environmental performance.
