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LCW1 - notes

WGU Business Ethics

Name alternate dispute resolution (ADR) techniques negotiation, litigation, arbitration, mediation
mediation coaxing 2 parties toward a mutual settlment
arbitration allows each side time to present case but arbitrator will make the final decision
litigation conduct of a lawsuit
negotiation dialogue between 2 or more ppl intended to reach an understanding
trial courts determine facts of a particular dispute and apply to those facts the law given by an earlier appellate court decision
jurisdiction courts power to hear a case
small claims court, municipal divison court, probate divison, land divison, domestic relations limited jurisdiction courts
appellte courts state supreme courts / appeal courts
generally accept the facts given to them by trial courts and reivew the trial record to see if the court made errors of law appellate court
appellate one filing appeal
appellee the party who one the initial trial- so opposing the appellant
federal question cases a claim based on the US constitution, a federal statue or a federal treaty is called a federal question case
litigation pleading, consistant of the complaint, answer, reply
counter claim 2nd lawsuit by defendant againt the plaintiff
critical pre-trail opportunity for both parties to learn the strengths & weakness of the opponents case discovery
interrogies written questions the opposing party must answer in written form and under oath
provide a chance for one parties lawyer to question he opposing side deposition
summary judgment a ruling by the cover that no trial is neccessary because there are no essential facts in dispute
issue intensity, individual factors, organizational factors, opportunity, evaluations & intentions, behavior framework for ethical decision making in business
ethical decision making step 1 issue intensity
ethical decision making step 2 individual factors
ethical decision making step 3 organizational factors
ethical decision making step 4 opportunity
ethical decision making step 5 evaluations & intentions
ethical decision making step 6 making the ethical or unethical decision
percieved importance to the decision maker ethical issue intensity
6 spheres of ethical influence workplace, family, religion, legal system, community, and profession
moral intensity relates toa persons perception of social pressure & the harm the decision will have on others
individual factors learned values & principles through the socialization process w/ family member- social groups and religion
external control they go w/ the flow because its out of their hands
internal control they feel like they create their own destiny thru their skill and effort
organizational factors corporate & ethical culture and obedience to authority
opportunity the conditions in the organization that limit or promote ethical or unethical behavior
where they work, who they work for & the nature of the work immediate job context
By providing insight and knowledge into how to make better decisions knowledge about ethical decison making can improve ethical leadership skills.
coercive, authoritive, affiliative, democratic, pacesetting, coaching 6 leadership styles
cooercive leadership demands instant obedience and focuses on achievement, initiative, and self control
authoritiative leadership (the most effective) inspireds employees to follow the vision. Facilitates change. Creates a positive performance environment.
affiliative leadership focuses on friendship. Values ppl and their needs. Uses trust to promote flexibility, innovation, and risk taking
democratic leadership relies on participation & teamwork to reach collaborative decision. Good for achieving goals
pacesetting leadership high standards set but attains quick results. BEWARE: this can cause a negative climate because of expectations
coaching leadership builds a positive climate by developing skills to foster longterm success- delegating responsibility & skillfully issuing challenging assignments
attempts to create employee satisfaction thru negotiation and bartering transactional leadership
strive to raise employees level of committment & to foster trust & motivation transformational leaders
7 habits of a strong ethical leader strong personal character, passion to do right, proactive, consider stakeholders interests, role model for the organizations value, transparent decision making, competent managers w/ holistic view of firms ethics
warranty an assurance provided in a sales contract
negligance unreasonable conduct by a defendant
strict liability prohibits defective products reguardless of defendants actions
express warranty a warranty stated by words or actions- the seller clearly indicates the standards they product should meet
an affirmation of fact or promise, description of the goods, with a sample or model ways an express warranty is applied
Implied warranty unless excluded or modified, a warranty that the goods are fit for ordinary use
"This umbrella will keep you dry in the rain" implied warranty
implied warranty of fitness with some exceptions the code implies a warranty that the goods are fit for buyers special use
"This mountain bike is great on mountain terrain" implied warranty of fitness
disclaimer a statement that a particular warranty does not apply
what are the limitations on remedies for breach of warranty & product liability? remedy limitation
remembdy limitation limits the rememdies available when one party will not get all of the damages the Code normally allows
how does negligence apply to a manufacturer? a plaintiff injured by goods purchased must show the defendant hd a duty to her and breached that duty
a manufacturers megligance can be negligent design, negligent manufactureing, failure to warn
a plaintiff in a negligence case must also prove factual causation, foreseeable type of harm, and injury
negligence damages awarded are usually compentasory or punitive
5 areas of negligence duty of care, factual causation, breach, foreseeable harm, injury
duty of care if you fail to act reasonable in a situation compared to other ppl in the same circumstance
contributory negligent state recovers nothing for slightly contributing to injury
comparitive negligent state the jury may aportion liability a plaintiff may generally recover even if she is partially responsible
FMLA: Family Medical Leave act of 1993 both men and women who have family medical emergencies, birth, or adoption ca take off unpaid leave for 12 weeks w/out fear of demotion or salary decrease or fire
COBRA: Consolidated omnibus budget reconciliation act former employees can maintain job medical benifts for 18months if they can pay for it
what are the actions of a wrongful discharge? refusing to violate the law, exercising a legal right, performing a legal duty, whistleblowing
What are OSHA workplace safety requirements? employers must comply w/ specific safety standards and have a general obligation to keep workplace nonhazardous
what rights to privacy do employees have in the workplace? off duty conduct, alcohol & drug testing, lie detectors tests, electronic monitoring of workplace
Can an employer monitor employees phone calls and emails? Yes, the electronic communications privacy act of 1986 permits employers to monitor workers telephone calls (if employees consent) or employee emails
Can an employer make an employee take a lie detector test? Employee Polygraph protection of 1988 says they may not require the test- but they can insist
Fair labor standards act of 1936 regulates wages and limits child labor, minimum wage,overtime pay
According to the Fair labor standards act children age 14 and under may only qork agriculture and entertainment
According to the Fair labor standards act children 15 and up can work limited hours in unhazardous jobs
According to the Fair Labor standards act children 16&17 can work unlimited hours in nonhazardous jobs
workers compensation ensures employees recieve payment for injuries incurred at work
social security pay benefits to workers who are retires, disabled, or temporarily unemployed
pension benefits employee retirement income security act (ERISA) protect workers covered by private pension plan
equal pay act of 1963 an employee may not be paid less for equal work
title VII of the civil rights at of 1964 prohibits religious, racial, or gender discrimination
age discrimination (ADEA) 1967 noone over 40 can be denied hiring,promoting, or other
pregnancy descrimination act of 1978 prohibits fire, refuse to hire, failure to promote due to pregnancy
as long as they can perform the essential functions on the job w/ reasonable accomodcations disabled discrimination rights
What is the procedure for filing suit against discrimination file a case w/ the EEOC, right to sue letter after 6 mths no response\
What are the remedies for an EEOC case hiriing, reinstatement, retroactive senority, back pay, reasonable attorney fees, and damages up to 300,000
teleology philosophy stipulates the acts are morallt right or acceptable if they produce some desired result, such as the realization or self interest or utility
egoism philosophy defines right or acceptable actions as those that maximize a particular persons self interest as defined by the individual
utilitarianism philosophy defines right or acceptable actions as those that maximize total or the greatest good for the greatest number of ppl
deontology philosophy focuses on the preservation of individual rights & on the intentions associated w/ a particular behavior rather than in its consequences
relativist philosophy evaluates ethicalness subjectively on the basis of individual and group experiences
virtue ethics philosophy assumes that what is moral in a given situation is not only what conventional morality requires but also what the mature person w/ a good moral character would deem appropriate
justice philosophy evaluates ethicalness on the basis of fairness: distributive, procedural, & interactional
What is the 1st stage of cognitive moral development punishment and obedience (right and wrong determined by authority figure)
What is the 2nd stage of cognitive moral development individual instrumental purpose & exchange (right and wrong according to circumstance- gift for client)
What is the 3rd stage of cognitive moral development mutual interpersonal expectations, relationships & conformity (fairness to others involed in decision)
What is the 4th stage of cognitive moral development? social system & conscience maintenance ( determining right by considering your duty to society
What is the 5th stage of cognitive moral develpoment? prior rights social content or utiiity (concerned w/ upholding basic rights, values, & legal contracts of society)
What is the 6th stage of cognitive moral development? universal ethical principle (inalienable rights)
How do white colar crimes relate to moral philosophies, value , and corp culture? they create victims by building trust and taking advantage
What are the basic provisions of the SOX? company must adopt better $$ controls, CEO must verify $$, all members of the boards audit committee must be independant
shareholders right vote, monitor, protection from other shareholders, dissent, information
Can a company make personal loans to its directors or officers? No
CEO must reimburse the company for any bonuses or profits from selling stock if the company has to restate its earnings
does the company have to disclose if it has an ethics code? Yes
Is whistleblowing protected Yes
the new Public Accounting Oversight Board has been established to oversee the auditing of public companys
What recourse do shareholders have if their rights are violated? derivative, direct, class action
direct lawsuit shareholder can sue the corp directly only if their own rights have been harmed
derivative lawsuit shareholder to rememdy a wrong tot he corp. the suit is in the name of the co and all proceeds go to the co.
class action lawsuit if a group of shareholders have to same complaint they can sue together
What are the main provisions of the SEC of 1933? before buying or selling securities the issuer must register them unless they are exempt
government, bank, short term notes, nonprofit issue, insurance policies, & annuity contracts exempt securites
disclosure requirments detailed statement about co.,annual audited reports, unaudited quarterly reports,report significant developments
Under Sox: auditor must report to the clients board of directors
Under Sox: accounting firms that audit public companies may not provide consulting advice on bookkeeping, info systems, human resources, and legal issues
Under SOx: a co. cannot hire one of its employees to audit
Under Sox: after 5 yers the lead auditor must rotate
the NYSE & NASDAQ responded to the Enronscandals by establishing a new role for independant directors
independant directors must comprise a majority of the board
they must meet regularly on their own without inside directors
audit committees must have at least 3 directors who are finacially literate
Created by: nrobionson
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