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SGMA 217 > Chapter 2: Being Ethical and Socially Responsible > Flashcards

Chapter 2: Being Ethical and Socially Responsible Flashcards

1
Q

Business Integrity

A

ability to ac honestly, ethically, and socially responsible

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2
Q

How can companies demonstrate their business integrity

A

be honest and transpoarent in reporting earnings, honest promotions, true info about product ingredients, adapting business practices with society’s needs

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3
Q

shareholder

A

people who hold invest and own sharesin a businesse

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4
Q

stakeholder

A

SOMOENE impacted by some event directly

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5
Q

Corporate governance

A

how the organization is governed, directed, and administered

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6
Q

How is corporate governance achieved

A

balancing interest of all stakeholders

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7
Q

Who is reposnosbile for corporate governance

A

the board of directors/ directors manage the organization

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8
Q

How does canada look at board of directors

A

they closely analyze the actions of the board of directors

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9
Q

difference between what companies focus on tradition vs now

A

tradition/ returns of shareholders only
now/ high corporate governance and adress stakeholder concerns

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10
Q

how do business owners/managers inspire their employees

A

with their actions and what is acceptable or not

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11
Q

Ethics

A

the study of right and wrong and of the morality of the choices we make

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12
Q

Business ethics

A

application of moral standard to business situations

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13
Q

3 categories of business ethics

A
  1. competing fairly and honestly
  2. avoiding conflicts of interest
  3. being transparent
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14
Q

Category of business ethics, Competing fairly and honestly

A

FAIR: Don;t be unfair to customers employees or shareholders

HONEST: DONT FALSE ADBERTUSE, DONT DECIEVE OR INTIMIDATE

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15
Q

Category of business ethics, Avoiding conflicts of interest

what is it

A

when employee takes advantsge of a situation for personal interest!

or

complex relationship sbetween coworkers

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16
Q

are bribes illegal! UNETHICAL?

A

YES

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17
Q

What is the employees fundamental job

A

to act in the interest of the employer

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18
Q

Category of Buisness ethics, BEING TRANSPARENT

A

when companies proactively make info publily available to encourage ethical decision making within the org

MEANS YOU SHOULD DISCLOSE EVERYTHING THAT COULD EVEN BE CONFLICT OF INTEREST

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19
Q

TRANSPARENCY

A

FREE FLOW of indo inside and outside the company to
employees
investors
customers
stakeholders

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20
Q

Social responsibility audit

A

this is in the transparency category of business ethics

these are comprehensive reports about what organization is foing in regard to social issues that affect it

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21
Q

what issues do social responsibility audits refer to

A

labour nd treatment of foreign workers
working conditions

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22
Q

are social repsonsibility auditors first party or third party, why

A

third party so that concerns can be adressed objectively

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23
Q

What body in canada promotes confidence in products that are advertised

A

AD STANDARDS

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24
Q

How are levels of government held responsible

A

THEY ARE HELD RESPONSIBLE TO CITIZENS THROUGH THE AUDIT SYSTEM

-Through the Auditor General of Canada resources are ensured to be properly allocated!

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25
Q

Who is the auditor general, wat do they do

A

independent of the government and they:
1. ensure management information is reliable and complete
2. identifies opportunities for improving controla nd use of public resources
3. makes recommendation to improve systesa dn practices

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26
Q

not taking bribes is an example of which branch of business ethics

A

COMPETING FAIRLY AND HONESTLY

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27
Q

3 types of factors that affect ethics

A

individual factors

social factors

opportunity

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28
Q

Individual factors that iinfluence ehtics
-Key influencers

A

Knpwledge of an issue
personal values and goals

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29
Q

ethics-Social factors key influencers

A

the law
cultural norms

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30
Q

ethics- OPPORTUNITY factors key influencers

A

competitive environment
level of supervision
enforcement

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31
Q

What is the triangle of ethics

A

the triangle states that an individual is more motivatred to act unethically when there is

  • pressure
    -opporutityny
    -a way to rationalize the enethical decision/act as consistent with values
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32
Q

Stages of ethical development

A

precconvential -> conventivnaol -> postconvential

33
Q

Preconventional ethics

A

childlike ethics- calculated self-centred, selfish ethics

BASED ON POSSIBILITY OF IMMEDIATE REWARD OR PUNISHMENT

like a child your ethics comes from personal gain

34
Q

ex of preconventional ethics

A

business who doesnt wanna violate carbon emission laws bc he fears the fine

35
Q

ex of preconventional ethics

A

business who doesnt wanna violate carbon emission laws bc he fears the fine ONLY!!!!

36
Q

Conventional ethics

A

Geared towards more expectations of soceity,

conformity, loyalty, and obedience to organization/society’s expectations become important

EMPLOYEE ONLY PERFORMING TO THE LEVEL EXPECTED ONLYYY

37
Q

Postconventional ethics

A

ethical standards of a mature aduly!!!!!

people are more concerned about how they percieve and respond ot thesmselves and less about how they are seen

38
Q

ex of post conventional

A

personally questioning behavoiour that though it is legal maybe it is wrong

fast food restaturant might refuse to offer styo stuff bc not environmentally friendly

39
Q

4 steps to see if your decision is legal or/and ethical

A

1) understand and obey the law
2) Understand an dobey the policies of your org
3) recognize factors that lead to ethical compromises
4) ensure all actions satisfy three components of business ethics (transparency, competing fairly and honestly,

40
Q

what is illegal and ethical

A

collarborating with others in apositive way (medical companies collaborate to have low price for low income countries) COLLUSION

providing rock-bottom prices to distributors in underserved areas

41
Q

ethical grey areas

A

Laws and regualtions can be hard to interpret

42
Q

what three main parties can promote acceptable levels of ethical behaviour

A

the government, trade associations, and organizations

43
Q

What is the role of govt in encouraging ethics

A

the legislate more regulations!

44
Q

canada consumer product safety act

A

more safety in consumer products

45
Q

competition act

A

prevents anti-competiitve practicies

46
Q

food and drugs act

A

protects canadians against health harazards and frauds in these two industries

47
Q

Consumer packaging and labelling act

A

requires uniform packaging and labelling of goods to prevent misconception

48
Q

texttile labelling act

A

requires cloth labels to contain meaningful ifo

49
Q

motor vehicle safety act

A

regulates manuafactore and imporations of motor vehicles to prevent damage and injuries

50
Q

How do trade associaitions encoruage ethics

A

for their members, they exert pressure on members to stop enganging in questionable business practiices

such as you cant dine your clients

51
Q

how do orgnaizaitons encourage ethics

A

companies promote ethics in 4 ways:
1. commitement to it by leadershipa
2. adopt a code of thics
3. designate ethics officer
4. protect whistle blowers

52
Q

How to solve ethical dilemma

A
  1. listen and learn
  2. idenitfy the ethical issue
  3. analyze options
  4. identify best option
  5. explain your decision resolve differences
53
Q

what is ethical dilemma

A

decisions where every alternative impacts stakeholders badly

54
Q

social resposibility

A

is the recognition that business actiivites have an impact on osciety and that impacts must BE CONSIDERED

55
Q

How manymenamagemetn attitudes doe social responsibility have?

A

2

ECONOMIC MODEL
SOCIOEOCNOMIC MODEL

56
Q

Economic model of social responisbility

A

society will benefit most when business is only produceing and marking profitable products that society needs

BELIEF THAT SOCIAL OBLIGATIONS ARE MET THROGUH THE BASIC FUNCITONING OF A BUSINESS, NO NEED TO DO EXTRA STUFF- THAT GOVT HOB

57
Q

Justificaitons for eocnominc model of sr

A
  1. business manageers resposnibilte to mostly shareholders
  2. corporate taletn should be used to productive efficeny
  3. social problems cant be solved by individual businesses
58
Q

GOAL OF A BUSINESS IN ECONOMIC MODEL

what is ethics level

A

to make a profut

preconventional/conventional

59
Q

The socioeconmic model fo social repsonsibipuly

A

Managers accountable to society as a whole and the gen pop

FOCUSES ON PROFITS AND ALSO ON THE IMPACT OF BUSINESS DECISIONS TO SOCEITY!

60
Q

What level of ethics is socioeconomic model of social responsility

A

Conventional.post conventional

61
Q

goal of socio eocnomic model of sr

A

TO SERVE COMMUNITY AND ALSO SEEK PROFITS

62
Q

Strategic giving

A

giving something with an expectation to gain something

companies use this in the socioeconomic model!!!!!!! of social responsibility

63
Q

vestedd interest

A

a stake

64
Q

primary stakeholders examples

A

investors
employees
customers
suppliers
gen public

65
Q

what do investors want in their companies

A

ethical and posibitive reputation

66
Q

social investing/ethical investing/green investing

A

investors loojing sfor opportunityies that align with their beliefs and balues

67
Q

canadian human rights act
employment equity act

A

ensures all employeees in federal orgs treated equally

employment equal opps for women people with disabilities aboriginal and visible minorities

68
Q

which commision is responsible for determinignw ehtehter empolyers fulifll legal obligations to rep mionrity groups

A

the canadian human rights commission

69
Q

customers vs consumers

A

customers purchase shit
consumers consume it

70
Q

in the past consumers were subject to what

A

caveat emptor- BUYER BEWARE!!!! WHAT YOU SEE WHAT YOU GET

once canadian associaation of ocnsumers formed, then it chanded

71
Q

each province has what

A

own cosnueer protection legislation

72
Q

4 basic consumer rights

A
  1. right to sagety (instructions)
  2. right to be informed (product details)
  3. right to choose (choice of products)
  4. right to be heard (companies must respond)
73
Q

how do businesses support their suppliers

A

give contracts
pay invocies
give appropaorite lead times

74
Q

WHAT IS THE KEY TO SUPPLY CHAIN RESPONISBILITY

A

EVERY OCMPANY INT EH CHAIN SHOULD BE ETHICAL AND SOCIALLY REPSONSIBLE!!!! OR NONE CAN SAY THEY ARE

75
Q

WHAT CAN SUPPLIERS DO

A

Suppliers can decrease costs and create efficiencies, allowing businesses to focus on their core activities.

76
Q

HOW CAN COMpanier reduce environmental impact

A

redue waste from operations! identify eliminate ineffieicneince

77
Q

sustainiablity

A

actiivites that meet the needs of present without compromising futures

78
Q

substainability strategies

A
  1. product design improvments (Reduce bad mateirals)
  2. faclitiy and vehicle improvements (eneregy efficiency campaigns)
  3. community outreach (Recycling campaigns)

SGMA 217 (13 decks)

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