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EST1 - Ethical Situa
WGU-EST1 - Ethical Situations in Business
| Question | Answer |
|---|---|
| Business Ethics | comprises the principles and standards that guide behavior in the world of business |
| Consumers Bill of Rights | the right to safety, the right to be informed, the right to choose, and the right to be heard |
| Social responsibility | an orgainizations obligagtion to maximize its positive impact on stakeholders and to minimize its negative impact |
| Defense Industry intiative on Business ethics and conduct | was developed to guide corporate support for ethical conduct. In 1986 eighteen defense contractors drafted principles for guiding business ethics and conduct. |
| Federal Sentencing guidelines for organizations | approved by congress in november 1991, set the tone for oranizational ethical compliance programs in the 1990s. |
| Sarbanes-Oxley Act | the most far reaching change in organizational control and accounting regulations since the securities and exchange act of 1934. The new law made securities fraud a criminal offense and stiffened penalties for corporate fraud. |
| Ethical culture | can be viewed as the character of decision-making process that employees use to determine whether their responses to ethical issues are right or wrong. |
| stakeholder | In a business context, customers, investors nd shareholders, employees, suppliers, government agencies, communities, and many others who have a "stake" or claim in some aspect of a company's products, operations, markets, industry and outcomes |
| primary stakeholder | those whose continued association is absolutely necessary for a firm's survival; these include employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infastructure |
| secondary stakeholder | do not typically engage in transactions with a company and thus are not essential for its survival;these include the media, trade associations, and special-interest groups |
| stakeholder interaction model | these are two way relationships between the firm and a host of stakeholders |
| corporate citizenship | is often used to express the extent to which businesses strategically meet the economic, legal, ethical, and philanthropic responsibilities placed on them by their various stakeholders |
| reputation | is one of an organization's greatest intangible assets with tangible value |
| shareholder model of corporate governance | is founded in classic economic precepts, including the goal of maximizing wealth for investors and owners |
| stakeholder model of corporate governance | adopts a broader view of the purpose of business |
| executive compensation | one of the biggest issues that corporate boards of directors face |
| social responsibility | business ethics embodies standards, norms and expectations that reflect a concern of major stakeholders, including consumers, employees, shareholders, suppliers, competitors and the community |
| stakeholder orientation | the degree to which a firm understands and addresses stakeholder demands can be referred to as a |
| corporate governance | to remove the opportunity for employees to make unethical decisions, most companies have developed formal systems of accountability, oversight, and control |
| honesty | truthfulness or tustworthiness. To be honest is to tell the truth to the best of your knowledge without hiding anything |
| fairness | is the quality of being just, equitable, and impartial |
| equality | is about how wealth or income is distibuted between employees within a company, a country, or across the globe |
| reciprocity | is an interchange of giving and receiving in social relationships. |
| optimization | is the trade-off between equity (that is, equality or fairness) and efficiency (that is, maximum productivity). |
| integrity | is one of the most important and often-cited terms regarding virtue, and it refers to being whole, sound, and in an unimpaired condition. |
| ethical issue | is a problem, situation, or opportunity that requires and individual, group, or organization to choose amondg several actions that must be evaluated as right or wrong, ethical or unethical |
| ethical dilemma | is a problem, situation, or opportunity that requires an individual, group, or organization to choose amondg several wrong or un-ethical actions |
| abusive or intimidating behavior | is the most common ethical problem for employees...physical threats, false accusations, being annoying, profanity, insults, yelling etc |
| lying | distorting the truth |
| conflicts of interest | exists when an individual must choose whether to advance his or her own intersts, those of the organization, or those of some other group |
| bribery | is the practice of offering something (usually money) in order to gain an illicit advantage |
| active bribery | meaning that the person who promises or gives the bribe commits the offense |
| passive bribery | is an offense committed by the official who receives the bribe |
| facilitation payments | made to obtain or retain business or other imporper advantages do not consititute bribery payments |
| corporate intelligence | is the collection and analysis of information on markets, technologies, customers, and competitors, as well as on socioeconomic and external political trends |
| hacking | considered one of the top three methods for obtaining trade secrets |
| system hacking | assums that the attacker already has access to a low-level, privileged-user account |
| remote hacking | involves attempting to penetrate remotely a system across the internet |
| physical hacking | requires that the ci agent enter a facility personally |
| shoulder surfing | in which someone simply looks over an employee's shoulder while he or she types in a password |
| password guessing | is another easy social engineering technique |
| dumpster diving | is messy but very successful for acuring trade secrets |
| whacking | is wireless hacking |
| discrimination | on the basis of race color, religion, sex, maritial status, sexual orientation, public assistance status, disibility, age national origin or vetern status is illegal |
| eeoc | where you file discrimination charges |
| affirmative action programs | involve efforts to recruit, hire, train, and promote qualified individuals from groups that have tradionally been discriminated against on the basis of race, gender or other characteristics |
| sexual harrassment | any repeated, unwanted behavior of a sexual nature perpetrated upon one indivdual by another |
| hostile work environment | 3 must be met:conduct was unwelcome; the conduct was severe, pervasive, and regarded by the claimant as to hostile or offensive as to alter his or her conditions of employment; conduct was such that a resonable person would find it hostile or offensive |
| dual relationship | is defined as a personal, loving, and/or sexual relationship with someone with whom you share professional responsibilities |
| unethical dual relationship | those where the relationship causes either a direct or indirect conflict of interest of a risk of impairment to professional judgment |
| environmental issues | becoming the significant concerns within the business community |
| Kyoto Protocol | one example fo the world's growing concern about global warming, is an international treaty on climate change committed to reducing emissions of carbon dioxide & five other greenhouse gases |
| water pollution | results from the dumping of raw sewage & toxic chemicals into river and oceans, from oil and gasoline spills, and from the burial of industrial wastes in the ground where they may filter into underground water supplies |
| accounting fraud | usually involves a corporation's financial reports in which companies provide important information on which investors and others base decisions that may involve millions of dollars |
| marketing fraud | the process of creating, distibuting, promoting, and pricing products-is another business area that genterates potential ethical issues |
| puffery | can be defined as exaggerated advertising, blustering, and boasting upon which no reasonable buyer would rely and is not actionable unter the Lanham Act |
| Implied falsity | means that the message has tendency to mislead, confuse or deceive the public |
| labeling issues | l |
| slamming | changing a customer's phone service without authoriztion, is another important issue involving labeling that is specific to the telephone industry |
| consumer fraud | when consumers attempt to deceive businesesses for their own gain |
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