Ib Ch4, Ethics

Front 1

business ethics

Back 1

accepted principles o fright or wrong governing the conduct of businesspeople

Front 2

ethical strategy

Back 2

a course of action that does not violate a company's business ethics

Front 3

Foreign Corrupt Practices Act

Back 3

U.S. law regulating behavior regarding the condcut of international business in taking bribes and other unethical actions

Front 4

Convention on Combating Bribery of Foreign Public Officials in International Business Transactions

Back 4

obliges member states to make the bribery of foreign public officials a criminal offense

Front 5

social responsibility

Back 5

the idea that businesspeople should consider the social consequences of economic actions when making business decisions

Front 6

ethical dilemma

Back 6

a situation in which there is no ethically acceptable solution

Front 7

organization culture

Back 7

the values and norms shared among an organization's employees

Front 8

cultural relativism

Back 8

the belief that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate

Front 9

righteous moralist

Back 9

claims that a multinational's home-country standards of ethics are the appropriate ones to follow in foreign countries

Front 10

naive immoralist

Back 10

asserts that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either

Front 11

utilitarian approaches

Back 11

hold that the moral worth of actions or practices is determined by their consequences

Front 12

Kantian ethics

Back 12

hold that people should be treated as ends, and never purely as means to the ends of others

Front 13

rights theories

Back 13

a 20th century theory thatrecognizes that human being shave fundamental rights and privileges that transcend national boundaries and cultures

Front 14

Universal Declaration of Human Rights

Back 14

UN document that lays down the basic principles of human rights taht should be adhered to

Front 15

just distribution

Back 15

a distribution that is considered fair and equitable

Front 16

code of ethics

Back 16

a business's formal statement of ethical priorities

Front 17

stakeholders

Back 17

the individuals or groups who have an interest, stake, or claim in the actions and overall performance of a company

Front 18

internal stakeholders

Back 18

people who work for or who own the business such as employees, the board of directors, and stockholders

Front 19

external stakeholders

Back 19

the individuals or groups who have some claim on a firm, such as customers, suppliers, and unions

Front 20

unethical behavior is rooted in:

Back 20

poor personal ethics, the psychological and geographical distances of a foreign subsidiary from the home office, a failure to incorporate ethical issues into strategic and operation decision making, a dysfunctional culture, and fialure of leaders to act in an ethical manner

Front 21

Friedman doctrine

Back 21

states that the only social responsiblity of business is to increase profits, as long as the company stays within the rules of law