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COMM 104 ETHICS > Exam Shiet > Flashcards

Exam Shiet Flashcards

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1
Q

Rushworth Kidder’s Shared Values

A

Honesty, Respect, Responsibility, Fairness, Compassion

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2
Q

Martin Seligman’s Common Virtues

A

Wisdom, Courage, Humanity, Justice, Temperance, Transcendence

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3
Q

The “Don’t Be Evil” Generation

A

Millennials that place a high value on doing work that aligns with their personal values

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4
Q

The Demand for Leaders at All Levels

A
  • Driving an increased need in organizations to develop and equip leaders at all levels
  • An essential skill required by young leaders are to know their values and give voices to them
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5
Q

Normalizing

A

This kind of conflict is just part of doing the job

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6
Q

The “Iron Law” of Social Responsibility

A

In a free society, discretionary abuse of societal responsibilities leads, eventually, to mandated solutions.

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7
Q

CSR Growing as Important Issue to Organizations

A

Pressure from consumers seeking more responsible choices and constraints of ever dwindling natural resources

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8
Q

Criticisms of CSR

A

• Companies assume government’s responsibilities
• Poses challenges for companies
o Must earn profit while addressing CSR in a meaningful way
o Must integrate social and environmental factors into decisions
• Firms engage in CSR “window dressing”

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9
Q

Impact Investing

A
  • Form of socially-responsible investing
  • Serves as a guide for various investment strategies
  • Tends to have roots in either social or environmental issues
  • Avoid investments causing negative impacts (tobacco, alcohol)
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10
Q

Blended Value

A

An emerging conceptual framework, where investments are evaluated based on their ability to generate a blend of financial, social, and environmental value.

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11
Q

Benefit Corporation (B-Corp)

A
  • Type of for-profit corporate entity
  • Includes positive impact on society/environment in addition to profit as its legally defined goals
  • Differs from traditional corporations in purpose, accountability and transparency but not taxation
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12
Q

Impact Reporting and Investment Standards (IRIS)

A

Allows investors to compare data across sectors, regions and organizational sizes.

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13
Q

Social Return on Investment (SROI)

A

Measurement framework used to monetize the social value created by social or environmental initiatives.

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14
Q

Environmental, Social and Governance (ESG)

A

Associated with the practice of responsible investing among large institutional investors.

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15
Q

Demonstrating Value

A

Measurement tool targeted toward social ventures, that combines business performance monitoring with social impact evaluation.

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16
Q

Evaluative SROI

A

Are conducted retrospectively and are based on outcomes that have already taken place

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17
Q

Forecast SROI

A

Predict how much social value will be created if the activities meet their intended outcomes.

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18
Q

Donahue’s View on Being and Ethical Leader

A
  • Respect Others
  • Serves Others
  • Shows Justice
  • Manifests Honesty
  • Builds Community
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19
Q

Moral Manager Direct Followers’ Behaviour By

A

• Role Modelling:
o Visible ethical action
• Rewards/discipline:
o Holds people accountable (and rewards ethical behaviour)
• Communicating:
o Actively conveys the ethics/values message

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20
Q

Dimensions of Ethical Leadership

A 
•	Traits:
o	Honesty, integrity, trust
•	Behaviours:
o	Openness, concern for people, personal morality
•	Decision Making:
o	Values-based, fair
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21
Q

Organizational Culture

A

Deeply rooted, unseen values/beliefs/assumptions about how an organization operates

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22
Q

Organizational Climate

A

Employees’ perceptions of work procedures, policies, and practices

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23
Q

Key Ethical Climate Types

A
  • Caring
  • Law and Code
  • Rules
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24
Q

Caring Climate

A

o Caring and benevolent orientation

o Take well-being of employees, stakeholders into consideration

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25
Law and Code Climate
o Support decision-making based on principles from external sources: law, religious texts, codes of professional conduct
26
Rules Climate
ompany focusses on adherence to rules and regulations when making ethical decisions
27
Routine Decisions
* Respond to a situation with minimal thought | * Decisions stay consistent
28
Non-routine Decisions
• Analyses that require more thought
29
Creating an Ethical Culture
* Provide ethics training, dialogue, and ethical leadership | * Question current practices
30
Individuals Characteristics That Influence Decision Making
* Personal values * Level of moral development * And locus of control
31
Child Moral Development
o Decision based on self-interest, external rewards, and punishment
32
Mature to 2nd Level Development
o Consideration of others’ expectations and attempt to reach them
33
More Mature Stage of 2nd Level Development
o Consideration of what society or stakeholders deem acceptable
34
3rd Level Moral Development
o Decisions based on upholding basic rights or principles – justice, ideals for organizational cooperation, the common good
35
Locus of Control
* The extent to which one feels control over life events * People with a high internal locus of control may be more likely to behave ethically * Those with low locus of control likely to blame fate, luck, or influence of others, won’t take responsibility for consequence of own actions
36
Factors that Influence Decision Making
* Contextual Factors * Organizational Culture * Rewards
37
Contextual Factors:
o Also influence decision making, most influential are organizational culture and rewards.
38
Organizational Culture:
o Includes not only current practices and policies, but also beliefs, values, and assumptions that influence daily conduct
39
Rewards:
o Such as bonuses or a pat on the back, show what is valued in the organization and may influence ethical behaviour
40
Raising Ethical Issues Efficiently
* Timing and attitude * Do not be confrontational * State concerns briefly and clearly in a way the person can relate * Comment about how situation could be detrimental to firm
41
Rotary Four-Way Test
* Is it the truth? * Is it fair to all concerned? * Will it build goodwill and better friendships? * Will it be beneficial to all concerned?
42
Strategic Success
* What it does differently for profit | * What it does differently to win new customers
43
Classic Economic Model:
o Strategies that solve problems but leave externalities: social costs firms create but don’t have to pay for
44
Economic Rationalist Model:
o Multiple goals set for the sake of economic self-interest | o Ethics has a role but only if it pays
45
Corporate Citizen Model:
o Ethical and strategic elements of a business decision are indistinct o Managers are both agent of firms and responsible society members
46
Strategist as Activist Model:
Profit maximization isn’t the goal, but there is potential for profits
47
Problems with CSR: Porter and Kramer
CSR makes companies think about issues in generic ways by presenting ethical issues as “social,” not “strategic”
48
Value Creation Model – Porter and Kramer
* Fifth or hybrid model of strategic choice * Rejects the profit maximization models whose focus is narrowly economic * Sees societal value creation as integral to strategic management * Accepts profitability as core in value-creation * Rejects the idea of CSR as an “add on”
49
Porter and Kramer Strategic View
``` • Traditional Justification for CSR: o Moral Obligation o Sustainability o License to Operate o Reputation ```
50
Laszlo and Zhexembayeva – Embedding Sustainability
* Need to embed sustainability into the core of your business strategy * Invest in it to such an extent that it can transition from incremental to deeper change * Embed in existing business priorities, making company stronger, rather than new side project
51
David Cooperrider – Appreciative Enquiry
* Used to think analysis come first, then recommendations , then decisions * Inquiry is agenda setting, language shaping, effect creating, and knowledge generating * Inquiry is embedded in everything we do as managers, leaders, and agents of change
52
Appreciative Inquiry – 4D Cycle
* Discovery * Dream * Design * Deployment
53
Defensive Reasoning
o Self-protective, ego-defence mechanism that blocks learning and knowledge creation
54
Expected or Standard Practice
o Everyone does this, so it’s really standard practice. It’s even expected
55
Materiality
o The impact of this action is not material. IT doesn’t really hurt anyone.
56
Locus of Responsibility
o This is not my responsibility; I’m just following orders here.
57
Locus of Loyalty
o I know this isn’t quite fair to the customer but I don’t want to hurt my reports/team/boss/company.
58
Errors
Unintentional misstatement. Statements must be reissued with correct information; no laws are violated.
59
Fraud
Intentional misrepresentation. Statements must be reissued with correct information; organization/executives may be prosecuted.
60
How can stakeholders know that the organization’s financial statements are not fraudulent?
* A board of directors and an audit committee can oversee the process of producing accurate financial statements. * Publicly held organizations can issue audited financial statements * Financial statements can be examined by regulatory agencies such as the Ontario Securities Commission.
61
Fraud Triangle
* Opportunity * Motive * Attitude/Rationalization
62
Rationalization
* Shifting Blame: Everyone does it * Pleading Ignorance: I don’t see that I’m hurting anyone * Moral Justification: I’m protecting the company/my family * Advantageous Comparison: This is nothing compared to… * Letting the Victim Take the Fall: They had it coming * Euphemistic Labelling: I am trying to level the playing field
63
Role of Board of Directors
* Shareholders’ agent, fiduciary responsibility * Hire and evaluate management * Approve major operating proposals * Approval major financial decisions
64
Corporate Governance
The controls put in place to ensure that a corporation acts in an ethical, legal, and transparent manner in the best interest of its shareholders.
65
Problems with Board of Director Model
* Management generally knows better than shareholder/owners who would make a good corporate director * While should not be, managers end up being selected by management * Creates conflict of interest: power to select directors effectively shifted to executives
66
Seven Disciplines of Governance Excellence
* Reflect: on organizational results * Respect: owner expectations * Select: your prominent leadership * Direct and Protect: organizational performance * Expect: great board-management interaction * Connect: for healthy board relations
67
Criticisms of Marketing
• Misleading advertising hurts consumers o Advertising to vulnerable – impact on self-worth; heightened value of physical features, particularly for women, elderly get fleeced • Society more materialistic o Creates demand for unnecessary and ultimately harmful products – bottled water, coffee pods?
68
Normalizing: The Handling of Values Conflicts
* This kind of conflict is just part of doing the job * I will face values conflicts * I am prepared for this, having considered most common situations
69
Intellectual Property (IP) Rights
* Locke: Rights protection for inventors for what they’ve created because of the creativity/work involved, just like property * Utilitarian: without protection for IP, inventors less likely to create since they can’t reap rewards. * Result: Patent and copyright laws to protect product of human mind for varying periods of time
70
Information Technology
* Essential to business activity * IT’s ability to store mass amounts of personal information, and the extent to which the information can be exploited, provides an incentive for theft * Computers and data warehousing allow information to be accessed by people within an organization and by people who never enter the premises.
71
Privacy as an Ethical Concept (UTILITARIAN)
o Consider both harms and benefits of collecting personal information o Collecting personal information could provide benefit to a wide range of people, exceeding negative outcomes.
72
Privacy as an Ethical Concept (KANTIAN)
o Individuals should not be used for selfish ends o Cynical Argument: Collecting information in order to earn a profit goes against Kantianism o Counterargument: If such information is provided freely, and with knowledge of the collector’s ultimate intention, personal autonomy is respected.

COMM 104 ETHICS (2 decks)

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