Lecture 11

Question 1

What is ethics

Answer 1

the code of moral principles and values that governs the behaviors of a person, employees or groups in what is right or wrong

Question 2

Three domains of human action

Answer 2

Codified law, ethics and free choice

Question 3

Managerial (business) ethics

Answer 3

a set of principles and rules dictated by upper management that define what is right and wrong in an organization

Question 4

unethical and illegal organizational behavior towards

Answer 4

customers, employees, financiers, suppliers, society

Question 5

individual coping strategies

Answer 5

escapism, planning, humor, denial, self-distraction

Question 6

mapping the stakeholders

Answer 6

a tool that helps companies identify the expectations, needs, importance and relative power of various stakeholders in a systematic way which may change over time

Question 7

The green movement

Answer 7

companies engage in this by offering new business initiatives, for ex, to cut carbon gas emissions by certain percentage, due to:
shifting social attitudes, new government policies, climate change initiatives, companies are eager to avoid negative publicity

Question 8

Green washin

Answer 8

a company emphasizes its commitment to sustainability, yet also engages in environmentally damaging practices. This is a misalignment between proclaimed values and real practices values

Question 9

forms of green-washing

Answer 9

The use of environmental imaginary
Misleading labels and language in company communication
Hidden trade-offs

Question 10

Corporate Social Responsibility (CSR)

Answer 10

Managements obligation to make choices and take actions that will contribute to the welfare and interests of society, not just the organization.

Question 11

Problems with CSR

Answer 11

Hard to define and legally ambiguous regarding the extent a company should contribute to the society.

Question 12

Reflections on CSR

Answer 12

Legal frameworks are not the same internationally, allowing for loopholes.
Discretionary responsibility is not voluntary and is guided by the organizations desire to make social contributions not mandated by economic laws or ethics.
Building an ethical organization requires a code of ethics, service mindset culture, and ethical structures - it takes time to cement itself within all layers of an organization.