Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Management > Chapter 2 notes: Packet > Flashcards

Chapter 2 notes: Packet Flashcards

1
Q

An uncompromising adherence to doing what is right and proper.

  • Honesty, relabilty, and fairness in business practices.
  • An essential element of successful business relationships
  • Is as much about what to do as it is who to be.
A

Integrity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Ethical issues- questions of right and wrong.

  • Legal and ethical considerations
  • Conflicts of self-interest
A

Doing the Right Thing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q
  • Relationships with customers, clients, and competitors
  • Human resource decisions
  • Employee obligations to employer
  • Management processes and relationships
  • Governmental obligations and relationships
  • Relationships with suppliers
  • Environmental and social responsibilties
A

Difficult Ethical Issues Facing Small Firms

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Relationships with outside parties in the marketplace.

A

Relationships with customers, clients, and competitors.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Decisions relating to employment and promotion.

A

Human Resource Decisions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Employee responsibilities and actions that in some way conflict withthe best interests of the business.

A

Employee Obligations to Employer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Superior-subordinate relationships.

A

Management processes and relationships

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Compliance with governmental requirements and reporting to governmental agencies.

A

Governmental obligations and relationships

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Practices and deceptions that tend to defraud suppliers.

A

Relationship with suppliers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Business obligations to the environment and society.

A

Environmental and social responsibilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q
  • Personal integrity of the owner.
  • Respecting customers
  • valuing employees
A

Managerial Integrity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Social responsibility for all stakeholders versus a narrow focus on using the firm’s resources only for honest profit making.

A

Personal Integrity of the owner

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Service orientation and respect in the treatment of customers is both ethical and profitable.

A

Respecting Customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Fair and honest treatment of employees is a sign of managerial integrity.

A

Valuing Employees

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q
  • Ethical issues in business operations
  • Ethical issues and employees
A

Kinds of Ethical Issues

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q
  • Income and expense reporting (tax fraud)
  • “Truth in advertising” - persuasion and deception.
  • Bribing customers and rigging bids.
  • Direct selling- Pyramid schemes, bait-and-switch selling.
  • Effects of owners’ ethics on their employees
  • Accurately reporting financial information.
A

Ethical Issues in Business Operations

17
Q
  • “To do an honest day’s work”
  • Fradulent worker’ compensation claims
  • Theft of company property and embezzlement of funds
  • Violation of personal ethics to make a sale
A

Ethical Issues and Employees

18
Q

The role of a small business (firm’s ethical obligations) as a good citizen to its community.

  • Regarded as the price of freedom to operate in a free economic system.
  • Frequently takes the form of personal contributions, volunteerism and the contribution of services by the frm and it’s employees.
A

Social Responsibility

19
Q
  • Environmental protection
  • Obligation to stakeholders
  • Contributions to community organizations
  • Response to the community needs
  • Compliance with government regulations
  • Support of education
  • Consumerism
A

Social Responsibilities of Small Firms

20
Q
  • The vulnerability of small companies
  • The integrity edge
A

The Challenges and Benefits of Acting Ethically

21
Q

Limited resources tempt small firms to cut eithical corners if an issues affects profits.

A

The Vulnerability of Small Companies

22
Q
  • Exhibiting integrity in businesses may actually boost a firm’s performance.
  • Greatest benefit of integrity is the trust it generates. (intangible)
A

The Integrity Edge

23
Q
  • Risks of buying and selling on the internet
  • Maitenance of personal privacy
    • “Cookies” to profile customer’s useage of the Web
    • Monitoring employee’s e-mail and Internet access.
A

Internet Ethics

24
Q
  • Misappropriation of content providers’ original intellectual creations that are protected by patents and copyrights:
    • inventions
    • Literary creations
    • Works of art
A

Protection of Intellectual Property Rights

25
Q
  • Illegal immigrants and forced labor in sweatshops
  • Outsourcing into “cheap” labor markets
  • Application of Federal Corrupt Practices Act
    • Bribery vs customary local business practices.
A

Protection of Intellectual Property Rights

26
Q

The belief that the ethical standards of one’s own country are superior and can be applied universally.

A

Ethical Imperialism

27
Q

The belief that ethical standards are subject to local interpretation.

“When in Rome, do as the Roman’s do”

A

Ethical Relativism

28
Q

Unarticulated ethical beliefs that provide a foundation for ethical behavior in a firm.

  • are based on personal view of the universe and mankind.
  • Strongly held views can lead to tough choices.
  • Ethics of the firm affect how outsiders view the firm and their decisions about the firm.
A

Underlying Values

29
Q
  • Owner/leaders and their ethics have more direct and pronounced effects in small firms.
  • Owner/leaders can insist that ethical principals be followed by employees.
A

Leading with Integrity

30
Q

Building an ethical culture requires:

  • Full commitment to ethical conduct by the firm
  • Strong, ethical managerial leadership
A

A supportive Organizational Culture

31
Q
  • Firm’s official standards of employee behavior set by the firm.
  • The foundation for ethical conduct by employees.
  • Clairifies the rules and gives guidance to employees.
A

Code of Ethics

32
Q
  • Purpose
  • Perspective
  • Persistence
  • Patience
  • Pride
A

Fundamental Principals for Ethical Policy Making

33
Q

Encourages ethical practices by:

  • Providing customers with free information to help them make informed decisions when dealing with a company.
  • Creaing an incentive for businesses to adhere to proper business practices and earnestly address customer complaints.
  • Resolving questions or disputes concerning purchases through mediation or arbitration.
A

Better Business Bereaus (BBB)

34
Q
  1. Define the problem
  2. Identify alternate solutions to the problem
  3. Evaluate the identified alternatives
  4. Make the decision
  5. Implement the decision
  6. Evaluate the decision
A

An Ethical Decision Making Process

35
Q

Entrepreneural activity with an embedded social purpose (goal) of finding innovative solutions to:

  • Social needs
  • problems, and
  • opportunities
A

Social Entrepreneurship

36
Q
  • People
  • Profits
  • Planet (environment)
A

Triple Bottom Line

37
Q

The effort to protect and preserve the environment.

A

Environmentalism

38
Q
  • Cost of updating and modifying facilities
  • Compliance with government regulations
  • Lawsuits
A

Adverse Impact of Environmentalism

39
Q
  • Enhances firm’s image with customers
  • Improves firm’s image on the community
  • Provides business opportunities (e.g. recycling)
A

Potential of Environmentalism

Management (33 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions