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
chapter 3!
conducting business ethically and responsibly
| Question | Answer |
|---|---|
| Ethics | beliefs about what is right and wrong or good and bad in actions that affect others |
| Unethical Behavior | behavior that does not conform to generally accepted social norms concerning beneficial and harmful action |
| Business Ethics | ethical or unethical behaviors by a manager or employer of an organization |
| Managerial Ethics | standards of behavior that guide individual managers in their work |
| Assessing Ethical Behavior | 1) cather the relevant factual information2) Analyze the facts to determine the most appropriate moral values3) Make an eithical judgment based on the rightness or wrongness of the proposed activity or poicy |
| Utility | does a particualr act optimize the benefits to those who are affected by it? |
| Rights | does it repect the right of the individuals involved? |
| Justice | Is it consistent with what's fair? |
| Caring | Is it consistent with people's responibilities to each other? |
| Written Codes | many companies have written codes that formally announce their intent to do business in an ethical manner |
| Core Principles/Values | although strategies and practices can change frequently and objectives can change occasionally, an organization's core principles and values shoul remain steadfast. |
| Social Responsibility | the attempt of a business to balance its commitments to groups and idviduals in its enviornment, including customers, other businesses, employees, investors and local communities |
| organizational stakeholders | those groups, individuals, and organizations that are directly affected by the practices of an organizaiton and who therefore have a stake in its performance |
| stakeholders | customers, employees, suppliers, investors and local commuinties |
| The North American Free Trake Agreement | called for increased controls on air pollution especially tartgeting areas that affect more than one member nation |
| Consumer Rights | have the right of safe products, Informed About Product, to be heard, to choose what they buy, to be educated about purchases, and have a right to courteous service. |
| collusion | illegal agreement between two or more companies to commit a wrongful acts as price fixing |
| Whistleblower | employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible action by publicizing them |
| False Claims Act (1863) | the current whistle blower law stems from the false claims act, with its 1986 revisions to the law the gov. can recover triple damages from fraudulent contractors, the wihistle blower recceives 25-30% of any money recovered. |
| Check Kiting | illegal practice of writing achecks against money that has not yet been credited at the bank on which the checks are drawn |
| Insider Trading | illegal practice of using special knowledge about a firm for profit or gain |
| Financial Misrepresentation- GAAP | sometimes, unethical maagers project profits far in excess of what they actually expect to earn others hide losses and or expenses inorder to boost paper profits. |
| Obstructionist Stance | approach to social responsibility that involves doing as little as possible and may involve attempts to deny or cover up violations |
| defensive stance | approach to social responisbility by which a company meets only minimum legal requirements in its commitments to groups and individuals in its social environment |
| accommodative stance | approach to social responsibility by which a company, if specifically asked to do so, exceeds legal minimums in its commitments to groups and individuals in its social environment |
| proactive stance | approach to social responsiblity by which a company actively seeks opportunities to contribute to the well being of groups and individuals in its social environment |
Created by:
mhalet
Popular Business sets