Chapter 20: Ethical Decision Making

Question 1

Ethics is Not Compliance

Answer 1

Ethics: How we should behave.

Fulfilling our legal obligations does not exhaust our ethical obligations.

Question 2

Ethical Fading

Answer 2

Increased compliance obligations can result in the decrease in the ethical motivation for acting well.

Question 3

8 Step Model for Decision Making

Answer 3

1. Accurately Define the Situation
2. Determine How the Situation Occurred in the First Place
3. Determine Relevant Stakeholders and How They Will Be Impacted
4. Prioritize Stakeholders Appropriately
5. Check Your Intentions
6. Try to Anticipate the Short-Term and Long-Term Consequences of Your Action
7. Consider the Symbolic Potential of Your Action
8. Ask If You Are Willing to Stand Behind Your Decision

Question 4

Morally-Salient Facts

Answer 4

Fact that reflects or impacts an ethical value or moral principle

Question 5

Stakeholder Theory

Answer 5

Theory of management decision making

Question 6

7 Components of Ethical Codes

Answer 6

1. Integrity
2. Objectivity
3. Competence
4. Fairness
5. Confidentiality
6. Professionalism
7. Diligence