MGMT Ch7.txt

Card Set Information

MGMT Ch7.txt
2012-04-14 21:58:43

MGMT Chapter 7
Show Answers:

  1. Ethics
    The study of good and evil, right and wrong, and just and unjust
  2. Business Ethics
    The study of good and evil, right and wrong, and just and unjust actions in business
  3. Theory of Amorality
    The belief that business should be conducted without reference to the full range of eithical standards, restraints, and ideals in society
  4. Theory of Moral Unity
    Business actions are judged by the general ethical standards of society, not by a special set of more permissive standards.
  5. Reciprocity
    A form of social behavior in which people behave supportively in the expectation that this behavior will be given in return.
  6. Realist School
    A school of thought that rejects ethical perfection, taking the position that human affair will be characterized by flawed behavior and ought to be depicted as they are, not as we might wish them to be.
  7. Ethical Universalism
    The theory that because human nature is everywhere the same, basic ethical rules are applicable in all cultures. There is some room for variation in the way these rules are followed.
  8. Ethical Relativism
    The theory that ethical values are created by cultural experience. Different cultures may create different values and there is no universal standard by which to judge which values are superior
  9. Hypernorms
    Master ethical principles that underlie all other ethical principles. All variations of theical principle must conform to them.
  10. Compensatory Damages
    Payments awarded to redress actual, concrete losses suffered by injured parties.
  11. Punitive Damages
    Payments in excess of a wronged party’s actual losses to deter similar actions and punish a corporation that has exhibited reprehensivle conduct.
  12. White-Collar Crime
    A nonviolent economic offense of cheating and deception done for personal or corporate gain in the course of employment.
  13. Deferred Prosecution Agreement
    An agreement between a prosecuter and a corporation to delay prosecution while the company takes remedial actions
  14. Nonprosecution Agreemetn
    An agreement in which U.S. attorneys decline prosecution of a corporation that has taken appropriate steps to report a crime, cooperate, and compensate victims.
  15. Monitor
    A person hired by a corporation to oversee fulfillment of conditions in an agreement to avoid criminal indictment
  16. Corporate Culture
    A set of values, norms, rituals, formal rules, and physical artifacts that exts in a company
  17. Ethics and Compliance Program
    A system of structures, policies, procedures, and controls used by corporations to promote ethical behavior andensure compliance with laws and regulations
  18. Compliance Approach
    Training employees to follow rules in laws, regulations and policies
  19. Ethics Approach
    Training employees to make decisions based on ethical values