Chapter 3 Flashcards
t/f: law and ethics CAN be separated
no
ethics is the study of…
right and wrong behavior
business ethics is the study of…
right and wrong behavior in the world of business
t/f: it’s ethical if it complies with the law
false
what is moral minimum?
the minimum ethical decision, complying with the law
violation of private/professional codes of ethics can lead to….
disciplinary actions
what is the triple bottom line?
corporation’s profits, impact on people, impact on the planet
what makes up the 4 part analysis?
legal implications of the decision, public relations impact, safety risk for consumers & employees, financial implications
what does the 4 part analysis help with?
helps the firm make decisions that maximize profits and reflect good corporate citizenship
who sets the tone of the company when it comes to ethical leadership?
top management
what increases when unrealistic goals are set for employees?
unethical behavior
is short run or long run maximization more likely to have unethical behavior?
short run
what is IDDR?
inquiry, discussion, decision, review
the IDDR aims to…
organize issues and approach them systematically
what are the 4 sectors of Business Ethics on a Global Level?
Religious/Cultural Norms, Outsourcing, Avoid Corruption, Monitor Foreign Suppliers
