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LCW1 - notes
WGU Business Ethics
| Question | Answer |
|---|---|
| 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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