Ch 04 Bus 100 Intro To Business

Front 1

Ethics

Back 1

Standards of moral behavior; behavior accepted by society as right versus wrong

Front 2

Compliance-based ethics codes

Back 2

Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers

Front 3

Integrity-based ethics codes

Back 3

Ethical standards that define the organization's guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees

Front 4

Whistleblowers

Back 4

Insiders who report illegal or unethical behavior

Front 5

Corporate Social Responsibility

Back 5

A business's concern for the welfare of society

Front 6

Corporate Philanthropy

Back 6

The dimension of social responsibility that includes charitable donations

Front 7

Corporate Social Initiatives

Back 7

Enhanced forms of corporate philanthropy directly related to the company's competencies.

Front 8

Corporate Responsibility

Back 8

The dimension of social responsibility that includes everything from hiring minority workers to making safe products.

Front 9

Corporate Policy

Back 9

The dimension of social responsibility that refers to the position a firm takes on social and political issues.

Front 10

Insider trading

Back 10

An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends

Front 11

Social Audit

Back 11

A systematic evaluation of an organizations progress toward implementing socially responsible and responsive programs.

Front 12

How is legality different from ethics?

Back 12

Ethics goes beyond obeying laws to include abiding by the moral standards accepted by society.

Front 13

What three questions should you answer when faced with a potentially unethical action?

Back 13

1) Is it legal?
2) Is it Balanced?
3) How will it make me feel?

Front 14

What's the difference between compliance-based and integrity-based ethics codes?

Back 14

Compliance-based are concerned with avoiding legal punishment, whereas integrity-based define an organization's guiding values, create an environment that supports ethically sound behavior and has a shared accountability among employees.

Front 15

Describe management's role in setting ethical standards.

Back 15

Management sets formal ethical standards. Their tolerance or intolerance of ethical misconduct also influences employees more than written words (actions speak louder etc)

Front 16

Describe how businesses demonstrate corporate responsibility to stakeholders.

Back 16

1) goods and services of real value for 'customers'
2)Makes money for 'investors'
3)Creates jobs for 'employees' and maintain job security as well as hard work and talent are rewarded
4)Create new wealth for 'society', promote social justice and contribute to making its own environment a better place.

Front 17

How are a company's social responsibility efforts measured?

Back 17

A corporate social audit measures progress toward social responsibility. Some believe an audit should add together the organizations positive actions and then subtract the negative effects to get a net social benefit.

Front 18

Analyze the role of the U.S. in influencing ethical behavior and social responsibility in global markets

Back 18

Many US businesses are demanding socially responsible behavior from international suppliers. Ensuring they don't violate US human rights and environmental standards (sweat shops and pollution etc)