Chapter 3 (3.1-3.3)

Question 1

ethics

Answer 1

standards or moral values that dictate what is right and wrong

Question 2

Influences on Ethical Behaviour; Personal Codes of ethics

Answer 2

family, peers, experiences

Question 3

Managerial ethics

Answer 3

the standards of behaviour that guide managers in their work

Question 4

Assessing Ethical Behaviour

Answer 4

Utility - Does the act optimize what is best for those who are affected by it?
Rights - Does it respect the rights of the individuals involved?
Justice - Is it consistent with what we regard as fair?
Caring - Is it consistent with people’s responsibilities to others?

Question 5

Written Codes of Ethics

Answer 5

Increase public confidence in a firm -> Help stem the tide of government regulation -> Improve internal operations by providing consistent standards of both ethical and legal conduct -> Help managers respond to problems as a result of unethical or illegal behaviour

Question 6

Core Principles and Organizational Values

Question 7

Corporate Social Responsibility

Answer 7

the idea that a business should balance its commitments to individuals and groups that are directly affected by its activities

Question 8

Fair-Trade Movement

Answer 8

a movement designed to help workers in developing countries receive fair pay for their work

Question 9

Areas of Social Responsibility

Answer 9

Responsibility Toward the Environment
Responsibility Toward Customers
Responsibility Toward Employees
Responsibility Toward Investors

Question 10

Responsibility toward the Environment

Answer 10

Air pollution
Water pollution
Land pollution
toxic waste disposal
recycling

Question 11

Responsibility toward Customers

Answer 11

Rights of consumers - consumerism
Unfair pricing - collusion
Ethics in advertising
- truth in advertising
- advertising of counterfeit brands
- morally objectionable advertising