Chapter 3

Question 1

defined as the code of moral principles that sets standards of good or bad, or right or wrong, in our conduct.

Answer 1

Ethics

Question 2

describe what we accept as “good” and “right” as opposed to “bad” or “wrong.”

Answer 2

ethical behavior

Question 3

guides for behavior, helping people make moral choices among alternative courses of action.

Answer 3

personal ethics

Question 4

underlying beliefs and judgments regarding what is right or desirable and that influence individual attitudes and behaviors.

Answer 4

Values

Question 5

focus on desired ends, such as the goal of lifelong

learning.

Answer 5

Terminal Values

Question 6

focus on the means for accomplishing these ends, such as the role of intellectual curiosity in lifelong learning.

Answer 6

Instrumental Values

Question 7

considers behavior to be ethical when it respects and
protects the fundamental rights of people. Based on the teachings of John Locke and Thomas Jefferson, this view believes all people have rights to life, liberty, and

Answer 7

Moral Rights View

Question 8

considers ethical behavior to be that which delivers the

greatest good to the greatest number of people.

Answer 8

Utilitarian View

Question 9

focuses on the long-term advancement of

self-interests.

Answer 9

Individualism View

Question 10

considers a behavior to be ethical when people are treated impartially and fairly, according to legal rules and standards.

Answer 10

Justice View

Question 11

involves the fair administration of policies and rules.

Answer 11

Procedural Justice

Question 12

involves the allocation of outcomes without respect to individual characteristics, such as those based on ethnicity, race, gender, or age.

Answer 12

Distributive justice

Question 13

focuses on treating everyone with dignity and respect.

Answer 13

Interactional Justice

Question 14

focuses on the fairness of exchanges or transactions.

Answer 14

Cummutative justice

Question 15

suggests there is no one right way to behave; cultural context determines ethical behavior.

Answer 15

Cultural relativism

Question 16

suggests ethical standards apply universally across all cultures.

Answer 16

Moral absolutism

Question 17

an attempt to impose one’s ethical standards on other cultures.

Answer 17

Ethical imperialism

Question 18

is a situation that, although off ering potential benefit or gain, is also unethical.

Answer 18

Ethical Dilemma

Question 19

seeks to help people understand the ethical aspects of decision making and to incorporate high ethical standards into their daily behavior.

Answer 19

Ethics training

Question 20

highlight the risks from public disclosure of one’s actions.

Answer 20

Spotlight questions

Question 21

expose misconduct of organizations and their members.

Answer 21

whistleblowers

Question 22

a formal statement of values and ethical standards.

Answer 22

code of ethics

Question 23

are people and institutions most directly affected by an organization’s performance.

Answer 23

Stakeholders

Question 24

the obligation of an organization to serve its own interests and those of its stakeholders.

Answer 24

Corporate social responsibility

Question 25

3 Ps of organizational performance

Answer 25

profit, people, and planet.

Question 26

holds that management’s only responsibility in running a business is to maximize profits and shareholder value. It puts the focus on the single bottom line of financial performance. In other words: “The business of business is business.”

Answer 26

Classical view of CSR

Question 27

holds that management of any organization should be concerned for the broader social welfare, not just corporate profits.

Answer 27

socioeconomic view of CSR

Question 28

exists when corporate social responsibility leads to improved financial performance that leads to more social responsibility.

Answer 28

Virtuous circle

Question 29

approaches business decisions with understanding that economic gains and social progress are interconnected.

Answer 29

Shared Value

Question 30

is one in which the underlying business model directly addresses a social problem.

Answer 30

Social business

Question 31

take business risks to find novel ways to solve pressing social problems.

Answer 31

Social entrepreneurs

Question 32

measures and reports on an organization’s performance in various areas of corporate social responsibility

Answer 32

social responsibility audit

Question 33

Economic Responsibility: be profitable

Legal Responsibility: Obey the law

Answer 33

Zone of Compliance

Question 34

Ethical Responsibility: Do what is right

Discretionary Responsibility: Contribute to community

Answer 34

Zone of Conviction