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POM > Ethics and Social Responsibility > Flashcards

Ethics and Social Responsibility Flashcards

(69 cards)

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1
Q

What is organisational social responsibility?

A

obligation of an organisation to
take actions that protect and improve
the welfare of society as a whole
along with its own interests

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2
Q

What are the 4 major areas that call for corporate social responsibility?

A

Environmental concerns
Consumerism
Equal opportunity in employment
Community support/Philanthrophy

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3
Q

Why does a business have a social obligation

A

Business is a vital part of society

Stable environment for long-term profits

Have managerial, financial, technical know-how to help solve society’s problems

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4
Q

What are the reasons for a business not having a social obligation?

A

Business primary responsibility is to make profits

Social problems are public responsibility

It is unethical for managers to use other people’s money for social responsibility activities

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5
Q

To whom and for what is a business responsible for? What is this concept?

A

The stakeholder concept

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6
Q

What is a stakeholder?

A

all groups within or outside the org interest in the co. operations

affect or are affected by
business actions or inactions

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7
Q

What are the major stakeholders?

A 
Shareholders and owners
Employees
Customers
Suppliers
Creditors
Competitors
Community
Public interest groups and media
Government
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8
Q

Who are shareholders and owners?

A

individuals or institutions
legally hold shares in
private or public organisation

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9
Q

What responsibility does the management have to shareholders?

A

Provide a healthy return on investment

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10
Q

Who are employees?

A

Individuals hired by organisation
perform specific duties
packaged into the job

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11
Q

What do employers have to meet for employees

A

health, safety requirements

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12
Q

Health and safety requirements include workplaces being

A

hazard-free

general health and safety of employees protected

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13
Q

Who are customers?

A

individuals or businesses that buy goods and services

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14
Q

What do customers expect?

A

Goods and services to be available at a fair price to meet their needs

Products, reliable, durable, high quality

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15
Q

Who are suppliers?

A

Individuals or businesses that provide goods and services for the agreed compensation

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16
Q

What are the things that are important to suppliers

A

regularity with which orders are placed
Promptness of payment
Stability and soundness of organisation

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17
Q

Organisation have the responsibility to suppliers to

A

be prompt in payment

maintain stability of business

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18
Q

Who are creditors

A

individuals or institutions to which money is owed

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19
Q

What are creditors and lenders interested in?

A

business liquidity

financial health

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20
Q

What do creditors rely on?

A

regular payments

all debt to be paid

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21
Q

Who are competitors?

A

companies in the same industry/ similar industry

offer similar product or service

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22
Q

Competitors have a stake in an organisation’s

A

performance

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23
Q

Who is the community

A

group of people living in one place, district or country

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24
Q

Community benefits from the organisation through

A

jobs that it provides

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25
What is the adverse effect from the organisation to a host community?
Contamination with production waste
26
Who are public interest groups?
non-profit, voluntary organisations members have a common cause seek to influence public policy
27
Public interest groups use what to disseminate news and information?
media | communication channels
28
What do public interest groups represent?
interests of other stakeholders | e.g. general public/workers
29
Who is the government?
A body of people sets and administers public policy exercises political power through laws within a country
30
Why is the government a stakeholder?
Depend on organisations for tax revenues and economic development Responsibility to regulate business and ensure equipment is not spoiled
31
Environmental issues stem from
interrelationship of living things and their environment
32
Businesses can affect the environment in which 2 ways?
Energy conservation | Pollution control
33
Why is conservation measures required?
Largest consumers of energy | Generate tremendous savings of society's natural resources
34
What are the benefits for organisations and consumers in conservation?
reduce costs | keep prices down
35
What are the conservation actions taken by companies
develop long, short-term conservation plans studying ways of operating machinery more efficiently Replacing it with up-to-date energy-efficient equipment
36
What individuals can do to conserve the environment?
Reduce Reuse Recycle
37
What is pollution?
any contamination of air, water, land in which life exists
38
Why is air pollution a major problem?
it can cause extremely harmful physical effects on people higher medical expenses lost wages reduced productivity
39
Where does air pollution come from?
industrial processes burned fuel from power-generating plants moto vehicles cigarette smoke
40
Where does water pollution come from
``` industrial toxic wastes fertilisers sewage leakage of underground dumps acid rain ```
41
What are the actions taken by businesses to reduce pollution?
designated no-smoking areas car manufacturers redesign their engines treating waste materials before disposal into lakes and streams recycling treated water to reuse in production process
42
What is consumerism
movement designed to provide buyers with info, bargaining power necessary for obtaining high quality, safe products and services
43
What are the issues in consumerism?
incomplete information in advertising product safety overcharging/profiteering coercive selling
44
Many advertisement give incomplete information that is
ambiguous
45
What is the tactic used in information-related problems?
bait and switch
46
What is bait and switch?
The store advertises a product at a low price tell customer it is out of stock, low quality recommends a higher priced alternative
47
How do you solve or control information-related problems?
``` educate employees communicate with consumers provide brochures and other written materials establish a customer service be honest with advertisement ```
48
Why is product safety important?
injuries can come from using mechanical equipment products that fail to work as intended
49
How is there a lack of product safety?
inadequate engineering or testing | stem from failure to anticipate the way the product will be used
50
How do businesses assume responsibility for product safety?
product recalls warranties or guarantees in-house checks before shipment from factory evaluation of feedback from users disclosing information on product quality, pollution from use, product related social information
51
What is overcharging?
taking advantage of policies to raise prices
52
What is coercive selling?
use of pressure sales techniques other coercive methods force consumers to purchase their products
53
How should the business ensure equal opportunity in employment?
establishing HR policies affirming equal employment for all | providing equal training and promotion opportunities for all employees
54
What are business ethics?
standards of conduct or moral judgement differentiating right from wrong used by mangers in carrying out their business form the core of social responsibility causing managers to take socially responsible actions
55
What are some ethical issues?
conflict between personal values and organisational goals conflict between organisational goals and social values hazardous but popular products exploitation of certain groups
56
What can happen in a conflict between organisational goals and social values?
company too preoccupied with its goals | loses touch with societal norms
57
Group that can be exploited include
customers, employees, suppliers
58
What are the factors affecting business ethics?
individual characteristics organisation's structural design organisation's culture
59
What are the individual characteristics affecting business ethics?
Personal values | Ego strength
60
Why is there personal values?
Every person enters and organisation with a relatively entrenched set of values
61
What is ego strength?
the measure of strength of one's conviction
62
What are the two things in structural design that affects business ethics
guidance | Formalisation
63
what is formalisation?
rules job descriptions written code of ethics
64
What is a good organisation culture for good business ethics?
high in direction | conflict tolerance
65
What are the ethical guidelines
``` Obey the law tell the truth show respect for others stick to the golden rule above all, do no harm The TV test ```
66
What is the golden rule?
do unto others as you would have them do unto you
67
What is the TV test?
have the honesty and integrity to appear in front of the media to tell the truth
68
What is the most effectives way to encourage ethical business behaviour?
Code of ethics
69
What does the code of ethnics describe?
general value system ethical principles specific rules guide employees in their daily behaviour

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