Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Strategic Mgmt 9
| Question | Answer |
|---|---|
| What is business ethics and what does it involve? | Business ethics involves the application of general ethical principles to the actions and decisions of businesses and the conduct of their personnel |
| Identify and describe the 3 schools of thought on business ethics in the global community. | Ethical universalism, ethical relativism, ethics and integrative social contracts theory |
| What is ethical universalism? | holds that the most fundamental conceptions of right and wrong are universal and apply to members of all societies, all companies, and all business people. |
| What is ethical relativism? | diff. religious beliefs,customs,&behavioral norms across countries&cultures give rise to standards concerning what's ethically right/wrong. differing standards mean that whether biz-related actions are right/wrong depends on local ethical standards |
| What is integrated social contracts theory? | universal ethical principles based on the collective views of multiple societies form a "social contract" that all individuals and organizations have a duty to observe in all situations. |
| Why are the notions of right and wrong, ethical and unethical, moral and immoral more complicated when competing in global markets? | because different cultures have different ethical standards |
| Identify and describe the three categories of management morality. | moral (good), immoral (bad), amoral (indifferent) |
| Identify and explain the major drivers of unethical strategies and business behavior? | 1.faulty oversight, enabling the unscrupulous pursuit of personal gain & self-interest.2. Heavy pressures on company managers to beat short-term performance targets. 3. A company culture that puts profitability & business perf. ahead of ethical behavior |
| Identify and briefly describe the 4 basic approaches to managing a company’s ethical conduct. | 1. unconcerned or non-issue. 2. damage control. 3. compliance. 4. ethical culture |
| Why should company strategies be ethical? | 1. because a strategy that is unethical is morally wrong and reflects badly on the character of the company personnel and 2. because an ethical strategy can be good business and serve the self-interest of shareholders |
| What is social responsibility and what is involved in socially responsible business behavior? | a company's duty to operate in an honorable manner, provide good working conditions for employees, encourage workforce diversity, be a good steward of the environments, and actively wrok to better the quality of life in the local communities |
| Define social responsibility strategy and describe what it includes? | the specific combination of socially beneficial activities the company opts to support with its contributions of time, money, and other resources |
| From a moral standpoint why should firms be socially responsible? | it's the right thing to do |
| From a business standpoint why should firms be socially responsible? | the higher the public profile of a company or its brand, the greater the scrutiny of its activities and the higher the potential for it to become a target for pressure group action |
| How and why should a company’s strategy be linked to its ethical principles and core values? | because when high ethical principles are deeply ingrained in the corporate culture of a company, culture can function as a powerful mechanism for communicating ethical behavioral norms and gaining employee buy-in to the company's moral standards |
Created by:
bp1189