Study Guide - Mod 1 Flashcards
Define ethics
Principles that serve as a compass about how to behave
Define Legal
An act that is allowed or is in conformity whit
h the law of the land
Provide an example for each of the
following:
legal-ethical
legal-unethical
illegal-ethical conflicts
Legal-ethical = keeping warehouse
jobs within the US
Legal-unethical = outsourcing warehouse
jobs outside of t
he US
llegal-ethical confict = Penagon Papers Case - in which US governemnt of
ficials leaks top secret papers to
inform the public about g
overnment actions during the Viet
nam War
Define values.
Stable life goals that people
have that reflect what is most important to t
hem
Define morals.
Rules peoplre develop as a result of
cultural norms amd values and are, traditionally passed down through
generations and characterize a cultural group
Define organizational ethics
Define organizational ethics.
Branch of applied ethics that focuses on
rules, prinicples, and standard in the contect of
business activities,
List the four main levels of
ethical issues
and provide an example of each.
Societal issues = substandard housing
, employmnet discrimination and child abuse and neglect.
Stakeholder’s issues = a company insist
ing on treating supplier
s with respect and refu
ses to push them to t
he
lowest pricing possible.
Internal policy = f
airness in management, pay, and employee participation
Personal issues = gossiping at wor
k or taking credit for
another’s work
How does a company’s ethical behavior
impact organizational outcomes?
Trust wrothy companies are
better at attracting and keeping customers, talented employees, and capital.
How does a company’s unethical behavior
impact organizational outcomes?
Companies tainted
by questionable ethics suffer
from dwindling customer bases, employee turnover, and investor mistrust.
Speaking the truth, respecting my elders, and
never purposely hurting someone are examples
of _________ ethics.
Personal
Offering paid services on your time off to a
company customer is an example of a
_____________?
Conflict of Interest
__________ reflects beliefs about what is right
and what is
wrong.
Ethics
Being punctual, refraining from gossip, and
having good time management are examples
of
_________ ethics.
Professional
__________ are the principles that are counted
as most important to
the individual.
Values
_______ are sets of rules that individuals develop
based on cultural
norms and beliefs.
Morals
Provide an example of
when personal and
professional
ethics may conflict.
A judge believes that the use
of cannabis
should never be all
owed regardless of the
situation due to persona
l principles of
what
is right and wrong. A
law was
recently
passes, however, allowing individuals to use
cannabis.
What are some benefits
to an organization that
has high organization ethics?
Attracting and keeping customers, talented
employees and capital
Where do an organization’s
ethics tend to start?
From management and works its way down
Define corporate social responsibility (CSR)
Philosophy in which a company
voluntarily engages in actions
that benefit society, be it economically, socially,
politically, or economically
How is a company’s CSR approach shaped?
By seeing that their community is lacking something that they
can provide, earning more profit and reputation
Who is considered a company stakeholder?
Those who have a stake in the performance and output of an organization, such as employees, unions
, investors, suppliers, consumers, local and national governments, and communities
What is the aim of CSR?
Increase
long-time profits and shareholder trust through positive
public relations and high ethical standards to
reduce business and legal risks by taking responsibility for corporate actions
What is the purpose
of the World Trade
Organization (WTO)?
Promoting global trade, enforcing common trade regulations, and helping promote ethical behavior among members
What is a code of ethics?
Organization’s key values
and describes
the company’s obligation to its stakeholders