Final Quizlet edition
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| When is an employee morally justified in blowing the whistle on his/her employer? | 1. The organization is doing (or will be doing) something that seriously harms other.
2. The employee has tried and failed to resolve the problem internally.
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| When is an employee morally justified in blowing the whistle on his/her employer cont. | 3. Reporting the problem publicly will probably stop or prevent harm.
4. The harm is serious enough to justify the probable cost of disclosure to the whistle-blower and others
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| What is a whistle-blower | An employee's disclosure of alleged organizational misconduct to the media or appropriate government agency often after futile attempts to convince org authorities to take action
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| Which Act requires the government to pay a reward to whistle-blowers who voluntarily provide info that leads to successful prosecutions for violations of federal securities laws? | Dodd-Frank Act
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| Which Act makes it illegal for employers to retaliate in any way against whistle-blowers who report info that could have an impact on the value of a company's share. | Sarbanes-Oxley Act
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| Which Act allows individuals to sue federal contractors for fraud and receive up to 30% of any amount recovered by the government | The U.S. False Claims Act
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| What is insider trading? | when a person gains access to confidential info about a company's financial condition and then uses that info, before it becomes public knowledge, to buy or sell the company's stock.
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| Which Act outlaws insider trading? |
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| What was the largest financial fraud in the US history? | The Ponzi scheme perpetrated by Bernard Madoff
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| What does the SEC stand for? | Securities and Exchange Commission.
Established in 1934
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| What does the SEC do? | Their mission is to protect shareholders' rights by making sure that stock markets are run fairly, and that investment info is fully disclosed.
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| What are stockholders? | Individuals or organizations that own shares of a company's stock, also a type of stakeholder
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| Majore legal rights of stockholders | to receive dividends, if declared
to vote on board, mergers adn acquisitions, charter and law
to receive annual reports on the company's financial condition
to bring shareholder suits against the company and officers
to sell their share of stocks
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| What does OSHA stand for? | Occupational Safety and Health Administration
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| What ACT gives workers the right to a job "free from recognized hazards that are causing or likely to cause death or serious physical harm? | The Occupational Safety and Health Act
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| What is corporate governance? | Refers to the process by which a company is controlled or governed
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| What is the board of directors roles? | 1. establish corporate objectives
2. develop broad policies
3. select top-level personnel to carry out objectives and policies
4 review management's performance to be sure the company is well run, the stakeholder's interests are protected
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| What group plays a central role in corporate governance? | Board of director
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| What positions are typically included in a board of directors? | Chief executives of other companies, major shareholders, bankers, former gov officials, academics, reps of the community, or retired executives from other firms
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| How are board members selected? | by shareholders a the annual meeting.
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| What are the principles of good governance? | 1. Select outside directors to fill most positions
2. Hold open elections for members of the board
3. Hold elections for all directors annually
4. Appoint an independent lead director
5. Diversify board meembership
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| What is executive compensation? | The total pay of corporate executives, including salary, bonus, stock options, and various benefits
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| The provision of what act required major US firms to disclose the ration of their CEO's compensation to the median compensation of all their employees | Dodd-Frank Act
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| What is say-on-pay? | US regulation requiring public companies to hold an advisory shareholder vote on executive compensation at least once every 3 years; also required in several other countries
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| What is the process known as clawback? | A rule that requires companies to take back incentive-based compensation after a restatement of financial disclosures.
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| What is the organization that represents pension funds, endowments, and foundations with combined assets of $4 trillion? | The Council of Institutional Investors (CII)
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| Integrity | soundness of, and adherence to, one's moral principles
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| Behaviors that lack integrity | displaying arrogance, promoting self-interest, practicing deception, breaching agreements, dealing unfairly, shifting blame, diminishing dignity, retaining envy, neglecting employee development, avoiding risks, holding grudges, declining to extend oneself
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| Displaying arrogance | Being enamored with one's own importance
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| Promoting self-interest | pursuing self interest to the detriment of the company
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| Practicing Deception | making untrue statements or taking credit for other's work
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| Breaching agreements | delivering services late, failing to follow up, reneging on promises
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| Dealing unfairly | making judgements without facts. Practicing discrimination, practicing favoritism
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| Shifting blame | declining to acknowledge responsibility. Falsely accusing others. Bad-mouthing others
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| Diminishing dignity | withholding recognition. Micromanaging and undermining subordinates.
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| Retaining envy | begruding other's success. Competing always. Witholding one's best efforts
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| Neglecting employee development | providing superficial. performance appraisals. Failing to coach or train others.
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| Avoiding risks | refusing to confront unjust auctions. Declining to stand up for a principle
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| Holding grudges | failing to let go of hard feelings
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| declining to extend oneself | ignoring needs of others. Withholding help or assistance
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| Corporate social responsibility | the obligation companies must develop and implement courses of action that abide by social/ethical norms and aid in social issues that impact society.
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| Components of CSR | Discretionary responsibility
ethical responsibility
legal responsibility
economic responsibility
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| Economic responsibilities of CSR | Maximize earnings per share
Generate high and consistent profits
Establish and main strong competitive market position
Operate at high efficiency
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| Legal Responsibilities of CSR | Perform in a way that's consistent with governmental and legal expectations.
Comply with local, state, federal, and international regulation.
Produce goods and services that meet at least the minimum legal standards
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| Ethical responsibilities of CSR | Meet or exceed minimum legal or governmental standards.
Meet or exceed social norm expectations.
Not compromising these standards to achieve objectives
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| Discretionary responsibilities of CSR | Charitable giving
Employee programs (drug abuse, child card)
Community involvement
Cultural development and support
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| Stakeholder | members of a group whose support is necessary for the firm to continue to exist (customers, suppliers, employers, investors, etc)
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| Conflicting pressure of stakeholders | Operating at high efficiency may require use of harmful chemicals
Maximizing earnings per share may ignore the needs of employees
Generating high/consistent profits may require illegal acts.
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| Rational Organizations | Formal relationships designed to achieve some technical or economic goal with max efficiency. Formal structure and hierarchy with clear lines of authority
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| Law of agency | employees have a duty to work towards the goals of the firm and avoid activities that would hard the firm
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| Conflicts of interest | When self-interests of employees lead to decisions that are not in the best interest of the firm
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| Bribe | Consideration offered to someone inside the organization by someone outside the organization in return for favorable treatment
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| Trade secrets | non-public information gained by working at a firm. Must sign non-compete/NDA to combat these
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| Ethical issues of insider trading | Violates individual rights by getting them to sell their stock at a lower value. It is unfair to use info that doesn't belong to you for your advantage.
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| Occupational Safety and Health Administration (OSHA) | Created by the US. Congress in 1970 to assure as far as possible every working man/woman in the nation safe and healthful working conditions.
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| Employee rights | employees have power. Can fire/demote/promote, set salary level, raises and bonuses
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| Right to privacy | the right to determine what, to whom, and how much info about oneself shall be disclosed to other
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| Psychological privacy | Protection of one's inner thoughts, plans, beliefs, values, feelings, and wants
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| Physical privacy | Protection of one's personal activities
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| Limits on invasion of privacy | relevant or consensual
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| Relevant invasion of privacy | the inquiry from an employer must be relevant to the job performed
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| Consensual invasion of privacy | employees must provide consent before employers can investigate private aspects of their lives
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| Ordinary invasion of privacy | Supervisory activities that are normally used to oversee employee's work
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| Extraordinary invasion of privacy | Hidden microphones, secret cameras, wiretaps, lie detector tests, personality tests, spies
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| freedom of conscience | freedom from having to participate in activities you feel are wrong
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| Internal whistleblowing | activities reported to authorities in the organization who can fix the problem
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| External whistleblowing | activities reported to government officials, newspapers, or public interest groups
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| Employment at will | In the absence of a contract that says otherwise, employers are free to fire employees for a good cause or no cause. Employees can quite for a good cause or no cause
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| discrimination | are the to distinguish one object from another. The wrongful act of distinguishing illicitly among people not based on individual merit but based on prejudice
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| Elements of discrimination | ignoring qualifications when making a decision. Basis of the decision cannot be morally justified. The decision has a harmful effect on the object of the decision
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| Equal Employment Opportunity Commission | A federal agency that investigates claims of on-the-job discrimination
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| Equal employment Opportunity Act of 1972 | Increased power to combat this form of discrimination and to require affirmative action programs to correct any dificiencies
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| Disparate treatment | different rules for different groups
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| Sexual harrassment | unwelcome sexual advances, request for sexual favors, and other verbal or physical contact of a sexual nature when submission to such conduct is made either explicitly or implicitly a condition of employment
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| Board of Directors | An elected group of individuals who have a legal duty to establish corporate objectives, develop broad policies and select top-level personnel to carry out these objectives and policies
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| Corporate Governance | Refers to the process by which a company is controlled, or governed
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| Major consumer protection agencies | Federal Trade Commission
Food and drug admin
Consumer product safety commission
National highway traffic safety admin
department of justice
National transportation safety board
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| Federal Trade Commission | Competitive pricing
deceptive trade practice
packaging and labeling
consumer credit disclose and report
online privacy
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| Food and Drug Admin | Safety, effectiveness, and label of drugs, foods, additives, makeup and medical devices, toxic chemical research
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| Consumer Product Safety cOMMISSION | safety standards for consumer products
flammable fabrics, hazardous substances, poison prevention packaging
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| National Highway Traffic Safety admin | Motor vehicle safety standards
auto fuel economy standards
national speed limit
consumer safeguards for altered odometers
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| Department of Justice | Fair compensation
Consumer Civil Rights
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| National Transportation Safety Board | Airline Safety
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| Office Romance | requires careful balancing between legitimate employer concerns and employee privacy
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| The global marketplace demands | workforce with language skills, cultural sensitivity, and awareness of national and other differences across markets
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| Three key issues in global supply chains | Social issues
ethical issues
environmental issues
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| Site community | geographical location of a company's operations offices, or assets
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| fence line community | immediate neighbors
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| Virtual communities | People who are connected to the company online
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| Communities of interest | Groups that share a common. interest with a company
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| Employee community | people who work near the company
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| Community refers to | a company's area of local business influence
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| Civil engagement | the active involvement of businesses and individuals in changing and improving communities
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| Reasons for community involvement | major way to carry corporate citizenship mission
to win local support
helps to build social capital
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| Important aspect of business-community relationship | corporate giving to non-profit organizations
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| Company tax deduction percentage | 10%
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| Forms of corporate giving | Charitable donations (money)
InKind (gifts of products or service
Volunteer employee service (gifts of time)
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| Corporate crisis | a significant business disruption that stimulates extensive news media or social networking coverage
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| 4 Groups of corporate crises | Act of God
Mechanical problems
Human errors
Management decision or indecision
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| Effective crisis management plan includes | get ready before crisis
communicate quickly, but accurately
use the internet
do the right thing
follow up and make amends
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| Labor unions | organizations such as the service employees international union that represent workers on the job.
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| What do union negotiate | better wages
benefits such as pensions and health insurance
improved job safety
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| Top countries that user the internet | China
India
USA
Indonesia
Brazil
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