Foundations of Management Chapter 4 - Business Ethics

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Foundations of Management Chapter 4 - Business Ethics
2013-02-24 20:13:52

Business Ethics
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  1. What are ethical behaviors?
    What is accepted as "good" and "right" in the context of the governing moral code
  2. What are values?
    Broad beliefs about what is or is not appropriate behavior
  3. What are examples of values?
    • Equality
    • Fairness
    • Honesty
    • Responsibility
    • Harmony
  4. What is cultural relativisim?
    Ethical behavior is always determined by cultural context
  5. What is an ethical dilemma?
    Situation that requires choosing a course of action
  6. 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
  7. What are factors influencing ethical behavior?
    • Person
    • Organization
    • Environment
  8. What is ethics training?
    Structured programs that help participants to understand ethical aspects of decision making
  9. What is whistleblower protection?
    Laws put in place to protect someone from being the company "rat" on unethical behavior
  10. Federal laws apply to which type of workers in terms of whistleblower protection?
    Government workers
  11. What is top management support?
    Model appropriate ethical behavior
  12. What are formal codes of ethics?
    Official written guidelines on how to behave
  13. What is corporate social responsibility?
    Obligation of the organization to act in ways that serve both its own interests and that of stakeholders
  14. What do CSR help organizations do?
    Hire and retain the people they want
  15. What do CSR activities contribute to?
    Business performance
  16. What does Milton Friedman's famous view say?
    The social responsibility of business is to increase its profits
  17. 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