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College Ethics > Midterm > Flashcards

Midterm Flashcards

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1
Q

stakeholder

A

anyone who can be affected by decisions made within a business

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2
Q

ethics

A

refers to those values, norms, beliefs, and expectations that determine how people within a culture live and act; steps back form how people DO act, and reflects on the standards that people SHOULD act; how we act and how we live our lives

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3
Q

normative ethics/discipline

A

deals with norms and standards of appropriate and proper behavior; norms establish the guidelines or standards for determining what we should do, how we should act, and what type of person we SHOULD be

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4
Q

descriptive ethics

A

provides a descriptive and empirical account of those standards that actually guide behavior, as opposed to those standards that should guide behavior

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5
Q

morality

A

our moral systems and how we individually as people want to live our lives

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6
Q

personal integrity

A

refers to individuals completeness within themselves, often derived form the consistency or alignment of actions with deeply held beliefs

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7
Q

social ethics

A

how we should live together with others and how social organizations ought to be structured

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8
Q

norms

A

those standards or guidelines that establish appropriate and proper behavior; can be established by such diverse perspectives as economics, etiquette, or ethics

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9
Q

values

A

those beliefs that incline us to act or to choose in one way rather than another

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10
Q

ethical values

A

those properties of life that contribute to human well-being and a life well lived; include happiness, respect, dignity, integrity, freedom, companionship, health

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11
Q

risk assessment

A

a process to identify potential events that may affect the entity, and manage risk to be within its risk appetite

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12
Q

balance of risk assessment

A

likelihood o being challenged in court, losing the case, settling for financial damages, comparison of those costs, financial benefits of taking the action, ethical implication of the options available

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13
Q

practical reasoning

A

reasoning about what we should do

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14
Q

theoretical reasoning

A

reasoning about what we should believe

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15
Q

what is a process of responsible decision making

A

business ethics

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16
Q

what are scandals brought about by

A

ethical failures

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17
Q

making the case for business ethics

A

legal requirements/
unethical behavior creates legal, financial, and marketing risks/
maintaining an ethical advantage aids success/
ethical reputations provide a competitive edge/
ethical management may aid organizational structure and efficiency/
leaders need to know how to manage ethical behavior of others/
business must take ethics into account and integrate ethics into its organizational structure

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18
Q

what will result in more responsible behavior

A

responsible decision making and deliberation

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19
Q

what do philosophers think about ethics and all that

A

believe in normative discipline; how we SHOULD act

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20
Q

“we” individually

A

ethics is based on our value structures; define by our moral systems (morality/ personal integrity)

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21
Q

“we” collectively

A

judge companies from a social perspective/responsibility; social ethics

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22
Q

what is at the center of business ethics

A

normative approach; what should i do, what rights and responsibilities are involved, what good will come from the situation, am i being far, just, virtuous, kind, loyal, trustworthy

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23
Q

what is ethics as a whole within

A

normative discipline; cause it deals with norms

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24
Q

why is the law not enough

A

legal norms and ethical norms are not identical; is the law itself ethical, the law may prevent harm but does it promote “good”, only complying with the law may lead to more regulation, laws may not be in place for new situations, laws may be ambiguous

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25
MBA oath
oath that all business people must take; purpose is to lead people and manage resources to create value that no single individual can create alone, my decisions affect the well being of individuals inside and outside my enterprise, today and tomorrow...
26
which groups of people were harmed by Bernie Madoff's pyramid investment scheme
banks, hedge fund managers, NY public library, universities across the globe
27
what well known 18th century philosopher is best known for expounding the virtues of self interest
Adam Smith
28
while learning about business ethics, students must...
think for themselves
29
what can happen with ones ethical responsibility and the law
ethical responsibility may run counter to the law
30
ethical decision making process
requires a persuasive and rational justification for a decision
31
what is the ethical decision making process (7)
determine the facts, identify the ethical issues involved, identify stakeholders and consider the situation from their point of view, consider the available alternatives, compare and weigh, make a decision, evaluate the implications of the decisions, to monitor and learn from the outcomes, and to modify actions accordingly when faced with similar challenges
32
perceptual differences
people are going to have different views on different things because we all have our own conceptual framework; can lead to many ethical disagreements
33
normative myopia
the tendency to ignore, or the lack of the ability to recognize, ethical issues in decision making
34
inattentional blindness
if we happen to focus on or are told specifically to pay attention to a particular element of a decision or event, we are likely to mis all of the surrounding details, no matter how obvious
35
change blindness
a decision making omission that occurs when decision makers fail to notice gradual changes over time
36
moral imagination
when one is facing an ethical decision, the ability to envision various alternative choices, consequences, resolutions, benefits, and harms
37
personal and professional decision making
individuals within a business setting are often in situations in which they must make decisions both from their own personal point of view and form the perspective of the specific role they fill within an institution; life of moral integrity must balance the personal values with the professional role-based values and responsibilities
38
why is it important to think about stakeholders during the ethical decision process
examining issues from a variety of perspectives other than one's own, and other than what local conventions suggest, helps make ones decisions more reasonable, accountable, and responsible; making decisions on the contrary of being narrow-minded will cause you to not actually see or understand the issue(s) at hand
39
how will decisions affect stakeholders
different people being affected for different reasons; some benefit from decisions made while others may not
40
what is a cognitive barrier to responsible, ethical decision-making
following simplified decision rules
41
utilitarianism
an ethical tradition that directs us to decide based on overall consequences of our acts; greatest good for the greatest number of people
42
consequentialist theories
ethical theories that determine right and wrong by calculating the consequences of an action
43
principle based framework (deontology)
directs us to act on the basis of moral principles such as respecting human rights; justice, liberty, autonomy, fairness
44
virtue ethics
studies the character traits or habits than constitute a good human life, a life worth living; what kind of person should i be
45
egoism
holds that all people act only from interest
46
principles
ethical rules hat put values into action
47
duties
those obligations that one is bound to perform, regardless of consequences
48
categorial imperative
ends justify the means, could be universal law, treat persons as an ends and never means, as subject and never objects; Immanuel Kant
49
autonomy
capacity to make free and deliberate choices
50
human rights
those moral rights that individuals have simply in virtue of being a human being; also called natural rights or moral rights
51
character
the sum of relatively set trials, dispositions, and habits of an individual; how he or she makes decisions and acts
52
utilitarianism and free market
think that free market is good; everyone can get what they want through the supply/demand and then they will be happy, and if they are happy then all is good
53
utilitarianism and the administrative
turn to policy experts who are in a position to determine which policy will maximize the overall good for people
54
problems with utilitarianism
concerns the need for utilitarian reasoning to count, measure, compare and quantify consequences/ reliance on its consequences
55
problems with principle based
no agreement about the scope and range of such rights/ | practical problems faced when applying real-life scenarios
56
how is virtue different from other two
egoism
57
culture
a shared pattern of beliefs, expectation, and meanings that influences and guides the thinking and behaviors of the members of a particular group
58
6 things of culture
power distance, individual vs. collectivism, uncertainty avoidance, time and order orientation, masculinity vs. femininity, indulgent vs. restrained
59
how to see culture
tempo of work, the organizations approach to humor, methods of problem solving, the competitive environment, incentives, individual autonomy, hierarchical structure
60
compliance based culture
a corporate culture in which obedience to laws and regulations is the prevailing model for ethical behavior
61
values based culture
a corporate culture in which conformity to a statement of values and principles rather than simple obedience to laws and regulations is the prevailing model for ethical behavior
62
ethics officers
individuals within an organization charged with managerial oversight of ethical compliance and enforcement within the organization
63
credos
a statement of the beliefs or aims that guide someones actions
64
code of conduct
a set of behavior guidelines and expectations that govern all members of a business firm
65
mission statement
a formal summary statement that describes the goals, values, and institutional aim of an organization
66
whistle-blowing
a practice in which an individual within an organization reports organizational wrong-doing to the public or to others in position of authority
67
United States sentencing commission
an independent agency in the United States judiciary created in 1984 to regulate sentencing policy in the federal court system
68
compliance and ethics program actions
standards and procedures, responisibility of board and other executives, preclusion from authority, communication and training, monitoring evaluation reporting processes, incentive and disciplinary structures, response and modification mechanisms
69
how does culture affect business
firms culture can be its sustaining values, offering it direction and stability during challenging times; culture is created in a company and what is viewed as acceptable and not acceptable is established along with virtues; can be defined from the top down
70
what is the role of an ethical leader
a leader must clearly model and advocate ethical behavior
71
ethical leader versus effective leader
effective leaders are able to get followers to their common destination, but not every effective leader is an ethical one; for example, means to motivate people may be different (effective can use threats, yell, etc., while ethical leaders use the right behavior, persuasion, etc.)
72
big part of being an ethical leader
creating a corporate culture in which in which employees are empowered and expected to make ethically responsible decisions; best of both worlds where they aren't judged for just getting the job done (could be done immorally) or just doing it good (and failing)
73
what is asked first when developing mission statement and credos
what does the company stand for
74
what are the rest of the steps of mission and credos
develop guiding principles through a clear vision/ identify clear steps as to how this cultural shift will work/ have an effective code that will impact culture there must be a belief that this culture is actually possible
75
where does whistleblowing occur
internally and externally; to external groups can be harmful

College Ethics (7 decks)

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