Foundations of Management Chapter 4 - Business Ethics
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What are ethical behaviors?
What is accepted as "good" and "right" in the context of the governing moral code
What are values?
Broad beliefs about what is or is not appropriate behavior
What are examples of values?
What is cultural relativisim?
Ethical behavior is always determined by cultural context
What is an ethical dilemma?
Situation that requires choosing a course of action
What are some rationalizations for unethical behavior?
- Not really illegal
- Really in everyone's best interests
- Nobody will ever find out
- The organization will "protect" you
What are factors influencing ethical behavior?
What is ethics training?
Structured programs that help participants to understand ethical aspects of decision making
What is whistleblower protection?
Laws put in place to protect someone from being the company "rat" on unethical behavior
Federal laws apply to which type of workers in terms of whistleblower protection?
What is top management support?
Model appropriate ethical behavior
What are formal codes of ethics?
Official written guidelines on how to behave
What is corporate social responsibility?
Obligation of the organization to act in ways that serve both its own interests and that of stakeholders
What do CSR help organizations do?
Hire and retain the people they want
What do CSR activities contribute to?
What does Milton Friedman's famous view say?
The social responsibility of business is to increase its profits
What are arguments against CSR?
- Milton Friedman
- Business is not equipped to handle social activities
- It weakens businesses' primary purpose
- Business will become less competitive globally
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