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4 Cards in this Set

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What are the three questions you need to answer when faced with a potentially

unethical action?

1. Is my proposed action legal?

2. Is it balanced (fair)?

3. How will it make me feel about myself?

Chapter 4 page 97-98

Describe management’s role in setting ethical standards.

The most important thing is the message they sent through their actions; their tolerance or intolerance of ethical misconduct influences employees greatly.What are the differences between compliance based and integrity-based ethics codes, and list the six steps in setting up corporate ethics code

What is the difference between compliance-based and integrity-based ethics codes, and list the six steps in setting up a corporate ethics code.

Compliance-based ethics codes:

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

Integrity-based ethics codes:

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

Define corporate social responsibility and compare the corporations responsibilities to various stakeholders.

1. Must satisfy customers with goods and services of real value.

2. Must make money for its investors.

3. Must create jobs for employees, maintain job security, and see that hard work and talent or fairly rewarded.

4. Must create new wealth for society, promote social justice, and contribute to making its own environment a better place.