Chapter 2: Ethics And Social Responsibility Vocab Flashcards
Sets standards of good or bad, right or wrong, in our conduct
Ethics
Is “right” or “good” in the context of a governing moral code
Ethical behavior
Broad beliefs about what is appropriate behavior
Values
Preferences about desired end states
Terminal values
Preferences regarding the means to desired ends
Instrumental values
What view says that ethical behavior delivers the greatest good to most people
Utilitarian View
What view says that Ethical behavior advances long-term self/interests
Individualism view
What view says that ethical behavior treats people impartially and fairly
Justice view
Focuses on the fair application of policies and rules
Procedural justice
Focuses on treating people the same regardless of personal characteristics
Distributive justice
The degree to which others are treated with dignity and respect
Interactional justice
Focuses on the fairness of exchanges or transactions
Commutative justice
What view says ethical behavior respects and protects fundamental rights
Moral rights view
Suggests there is no one right way to behave; cultural context determines ethical behavior
Cultural relativism
Suggests ethical standards apply universally across all cultures
Moral absolutism
An attempt to impose one’s ethical standards on other cultures
Ethical imperialism
A situation that, although offering potential benefit or gain, is also unethical
Ethical dilemma
Well thought out personal rules and strategies for ethical decision making
Ethical framework
Who chooses to behave unethically
Immoral manager
Who fails to consider the ethics of his or her behavior
Amoral manager
Makes ethical behavior a personal goal
Moral manager
Seeks to help people understand the ethical aspects of decision making and to incorporate high ethical standards into their daily behavior
Ethics training
Highlight the risks from public disclosure of one’s actions
Spotlight questions
Expose misconduct of organizations and their members
Whistleblowers
A formal statement of values and ethical standards
Code of ethics
People and institutions most directly affected by an organization’s performance
Stakeholders
The obligation of an organization to serve its own interests and those of its stakeholders
Corporate social responsibility (CSR)
What Organizational performance includes financial, social, and environmental criteria
Triple bottom line
3 P’s of organizational performance
Profit
People
Planet
What view says that business should focus on the pursuit of profits
Classical view of CSR
What view says that businesses should focus on contributions to society, not just making profits
Socioeconomic view of CSR
Exists when corporate social responsibility leads to improved financial performance that leads to more social responsibility
Virtuous circle
Approaches business decisions with understanding that economic gains and social progress are interconnected
Shared value
One in which the underlying business model directly addresses a social problem
Social business
Take business risks to find novel ways to solve pressing social problems
Social entrepreneurs
Measures and reports on an organizations performance in various areas of corporate social responsibility
Social responsibility audit
A goal that addresses the rights of present and future generations as stakeholders of the world’s natural resources
Sustainability
Where firms operate in ways that both meet the needs of customers and protect or advance the well-being of or natural environment
Sustainable business
Making use of natural resources to meet today’s needs while also preserving and protecting the environment for use by future generations
Sustainable development
The storehouse of natural resources— atmosphere, land, water, and minerals— that we use to sustain life and produce goods and services for society
Environmental/natural capital
Global quality standards that certifies organizations that set environmental objectives and targets, account for the environmental impact of their activities, and continuously improve environmental performance
ISO 14001
