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Business Ethics > Business Ethics > Flashcards

Business Ethics Flashcards

1
Q

6 steps of resolving ethical dilemma

A
  1. Gather all the facts and familiarize yourself with them
  2. List information you would like to have and list any assumptions
  3. List each person involved and any concerns they may face
  4. Develop list of resolutions
  5. List costs, legalities, and impacts of each resolution
  6. Make a recommendation
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2
Q

Divine Command Theory

A

Making a decision based on religion

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3
Q

Natural Law

A

Certain rights and conduct controlled by God and no one else

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4
Q

Ethical Egoism Theory

A

Making a decision that is in the best interest of one’s self

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5
Q

Utilitarian Theory

A

Making a decision that is the greatest good for the greatest number of people. Cost/benefit analysis

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6
Q

Categorical Imperative

A

Making a decision on the thought of what would be the consequences if everyone in society acted this way

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7
Q

Contractarians and Justice

A

What rules would you impose if you were prince or pauper? Veil of ignorance

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8
Q

Rights Theory

A

Everyone has a set of rights and it’s the governments job to protect them

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9
Q

Moral Relativists

A

Derived subjectively from the individual experiences of each person

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10
Q

Virtue Ethics

A

An acquired set of virtues used to make decisions

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11
Q

Peter Drucker

A

Above all do no harm

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12
Q

Laura Nash 12 questions

A

Used to evaluate an ethical dilemma

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13
Q

Peale and Blanchard

A

Is it legal? Is it balanced? How does it make me feel?

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14
Q

Warren Buffett

A

What would you do if your actions was on the front page on the newspaper for everyone to see

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15
Q

Wall Street

A

Am I in compliance with the law? How does it affect shareholders? What are the short and long term consequences?

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16
Q

Adelphia Case

A

Cable company who went bankrupt in 2002 for internal corruption. Warren Buffett, Utilitarian theory

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17
Q

Beechnut Case

A

Claimed their apple juice was made with real apples but it was really made with syrup to save money for the company. Warren Buffett, Wall Street Journal

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18
Q

NASA Challenger Case

A

Sent students and teachers up then the ship exploded because they refused to wait for a warmer day. Virtue ethics, ethical egoism, Wall street journal

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19
Q

Enron Case

A

Engaged in earnings management that bankrupted the company

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20
Q

Penn State Case

A

Officials and administration acted inappropriately when knowledge of child abuse was received

21
Q

Ice T Case

A

Time Warner signed Ice-T who released an album with “cop killer” on it. At first Time Warner backed him but then later they decided to split ways with him

22
Q

Guns and safety Case

A

Mass shootings began then safety and gun regulations started to be a topic

23
Q

Fannie Mae and Freddie Mac Case

A

Would give high risk loans and then fudge accounting

24
Q

Employer Control Case

A

A debate of whether or not employers are getting too much access into employees lives

25
Q

Bad Apples Case

A

IDEK. Just look over the powerpoint

26
Q

WorldCom Case

A

Bought long distance phone network access at wholesale price then sell it to consumers at a cheaper price

27
Q

Arthur Anderson Case

A

An auditor for many major companies at the time. Performed Mark to Market accounting which is valuing assets based off predictions of future prices rather than previous ones

28
Q

HealthSouth Case

A

Employee was being bullied into manipulating financial reports to reflect the numbers they promised to investors

29
Q

Tyco Case

A

Key Employee Loan Program which would allow employees to take out little to no interest loans which were easy to manipulate. They would take out more than needed to truly help with what they needed then would use the rest for personal wants

30
Q

Ann Hopkins Case

A

Ann was trying to become partner of Price Waterhouse. Was first put on hold then was told to act more feminine. She was then told she would not become a partner, resigned, then filed a discrimination complaint. Contractarians and justice, Rights theory, Peter Drucker

31
Q

Tylenol Case

A

Tylenol was leading to liver damage. The number of pediatric poisonings from Tylenol has more than tripled. McNeil knew but did nothing to change it. Utilitarian Theory, Contractarians and Justice, Peter Drucker

32
Q

Ford Pinto Case

A

Had to place gas tank behind the rear axel which did not meet the tests they performed but other models did so they continued with production. There was an option to fix it at $4 per car but they declined. Ford would end up having to pay $50 million for deaths and injuries caused by their car. Moral relativism, utilitarian, ethical egoism

33
Q

Frozen Cake Case

A

Frozen coke was being offered in a Burger King in VA. Was not doing well so Fischer told employees to buy the value meals and then Berryman gave cash to boys and girls clubs saying if they did their homework they could go get a value meal. They saw sales increase and Burger king invested then failed. Utilitarian, Wall Street Journal

34
Q

Protected Classes of Title VII

A

Forbids discrimination in employment because of race, color, religion, sex, or national origin

35
Q

On the Job Fetal Injuries

A

Johnson Controls is battery manufacturer which contained lead. Policy there said pregnant women can not be placed in a position around this lead. Was found discriminatory

36
Q

Religious Accommodations

A

An employer must take reasonable steps to prevent harassment however bear de minimis cost to accommodate religious differences

37
Q

National Origin Discrimination

A

Most cases are based on language and/or appearance

38
Q

Minimum to show national origin discrimination

A

Disparate treatment and disparate impact

39
Q

Disparate Treatment

A

Exists where an employer intentionally treats people less favorably than others based on race, gender, religion, or national origin

40
Q

Disparate Impact

A

Exists where an employer uses legitimate employment standards that work a heavier burden on a protected class than others

41
Q

ADA/ADAA

A

Forbids discrimination in employment public accommodations, public services, transportation, and telecommunications against the disabled

42
Q

ADA/ADAA Protected

A

Blindness, hearing loss, anatomical loss, alcoholism, drug use, disfiguring scars, HIV/AIDS, obesity

43
Q

ADA/ADAA Not Protected

A

homosexuality, bisexuality, gambling, exhibitionism, kleptomania, pyromania

44
Q

ADEA Claim

A

Plaintiff must show they are above 40 years older, qualified for the position, and not hired or terminated/demoted while a younger person received more favorable treatment

45
Q

Who should develop code of ethics?

A

President, board of directors, CEO, legal counsel

46
Q

Codes of Conduct Forms

A
  1. Code of ethics
  2. Code of conduct
  3. Statement of values
47
Q

BFOQ (Bona Fide Occupational Qualification) Defense

A
  1. Proof of nexus between the classification and job performance, and will the classification affect the job performance?
  2. Necessity of the classification for successful performance and mere customer preference
  3. That the job performance affected by the classification is the essence of the employer’s business operation
48
Q

Confronting a Situation

A
  1. Determine facts
  2. If you don’t know the facts, or can’t know the facts, present the issue to those involved and affected
  3. Always give the opportunity for self remedy
  4. Don’t fear the fallout and the hassle
49
Q

Product Liability

A
  1. Product defective
  2. Because of defect, product unreasonably dangerous
    3.Defect proximate cause or substantial factor in injury

Business Ethics (1 decks)

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