Semester 1 Flashcards
(40 cards)
Clients, customers, suppliers, investors, retailers, employees, the media, the government, the community, competitors are all considered to be _______
Stakeholders
The standards of behavior to which at hold outside in our personal and professional lives
Ethics
______ guides the conduct by which companies and their agents abide by the law and respect the rights of their stakeholders, particularly their customers, clients, employees, and the surrounding community and environment
Business Ethics
What is the best description for what it means to act with integrity?
Striving to be the best person you can be in all your interactions with others
Normative ethical theories focus on what?
How people ought to behave on the basis of reason
When a company gives back to the society that permits it to exist, this is an example of what?
The Social Contract
The shared beliefs, values, and behaviors that create the internal or organizational context within which managers and employees interact is what?
Corporate Culture
_____ is the practice by which a business views itself within a broader context, as a member of society within a certain implicit social obligations and environmental responsibilities.
Corporate Social Responsibilities
_____ is a normative ethical theory suggesting that an ethical decision requires us to observe only the rights and duties we owe to others, and to act on the basis of a primary notice to do what is right by all stakeholders.
Deontology
The positive feeling stakeholders have for any particular company or called what?
Goodwill
An ethical system based upon the exercise of certain virtues is called _____
Virtue Ethics
According to Aristotle, _____ is achieved by keeping a virtuous life, which is attained over time.
Eudaimonia
The Golden Mean is what?
The desirable “middle” between excess and deficiency.
_____ states that our actions are judges solely by their consequences, without regard to character, motivation, or any understanding of good and evil.
Consequentialism
True or False: The categorical imperative implores is to act only according to the maxim whereby you can, at the same time, will out hope that it should become universal law.
True
_______ theory states that the natural state of human being is freedom, but that human beings will rationally submit to some restrictions on their freedom to secure their mutual safety and benefit
Social Contract
_______ is the idea that fairness is applied beyond the individual to include the community as well as analysis of social injustice with remedies to correct it.
Justice Theory
______ states that the only purpose for which power can be rightfully exercised over any member of a civilized community, against their will, is to prevent harm to others.
Harm principal
True or False: Managerial Ethics is a way of relating to the self, employees, and the organization that considers shareholder profits first.
False
What is “the problem of redistribution”?
Utility can lead to tyranny.
What is a stakeholder?
Entities and people invested and influential in the success of an organization
What is the most ethical action a company can take if a product is not living up to manufacturing claims?
Warn consumers and correct the problem to regain consumer trust
What is a measure that accounts for an organization’s results in terms of its effects on profits, planet, and people.
Triple bottom line
The triple bottom line places people and the planet on par with ____ in the mission of the organization
Profit
