Chapter 3 Flashcards
defined as the code of moral principles that sets standards of good or bad, or right or wrong, in our conduct.
Ethics
describe what we accept as “good” and “right” as opposed to “bad” or “wrong.”
ethical behavior
guides for behavior, helping people make moral choices among alternative courses of action.
personal ethics
underlying beliefs and judgments regarding what is right or desirable and that influence individual attitudes and behaviors.
Values
focus on desired ends, such as the goal of lifelong
learning.
Terminal Values
focus on the means for accomplishing these ends, such as the role of intellectual curiosity in lifelong learning.
Instrumental Values
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
Moral Rights View
considers ethical behavior to be that which delivers the
greatest good to the greatest number of people.
Utilitarian View
focuses on the long-term advancement of
self-interests.
Individualism View
considers a behavior to be ethical when people are treated impartially and fairly, according to legal rules and standards.
Justice View
involves the fair administration of policies and rules.
Procedural Justice
involves the allocation of outcomes without respect to individual characteristics, such as those based on ethnicity, race, gender, or age.
Distributive justice
focuses on treating everyone with dignity and respect.
Interactional Justice
focuses on the fairness of exchanges or transactions.
Cummutative justice
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
is a situation that, although off ering potential benefit or gain, is also unethical.
Ethical Dilemma
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
are 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
3 Ps of organizational performance
profit, people, and planet.
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.”
Classical view of CSR
holds that management of any organization should be concerned for the broader social welfare, not just corporate 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
is 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 organization’s performance in various areas of corporate social responsibility
social responsibility audit
Economic Responsibility: be profitable
Legal Responsibility: Obey the law
Zone of Compliance
Ethical Responsibility: Do what is right
Discretionary Responsibility: Contribute to community
Zone of Conviction
