Chapter 3 Flashcards
broad beliefs about what is appropriate behavior
values
are preferences about desired end states
terminal values
are preferences regarding the means to the desired ends
instrumental values
sets standards of good or bad or right or wrong in our conduct
ethics
is right or good in the context of a governing moral code
ethical behavior
ethical behavior delivers the greatest good to the most people
utilitarian view
ethical behavior advances long-term self-interests
individualism view
ethical behavior treats people impartially and fairly
justice view
focuses on the fair application of policies and rules
procedural justice
focuses on treating people the same regardless of personal charageteristics
distributive justice
is the degree to which others are treated with dignity and respect
interactional justice
focuses on the fairness of exchanges or transactions
commutative justice
ethical behavior respects and protects fundamental rights
moral rights view
suggests there is no one right way to behave cultural context determines ethical behavior
cultural relativism
suggest ethical standards apply universally across all culatures
moral absolutism
is an attempt to impose one’s ethical standards on other cultures
ethical imperialism
is a situation that although offering potential benefit or gain is also unethical
ethical dilemma
are well- thought-out personal rules and strategies for ethical decision making
ethical frameworks
manager chooses to behave unethically
immoral manager
fails to consider the ethics of her or his behavior
amoral manager
makes ethical behavior a personal goal
moral manager
seeks to help people understand the ethical aspects of decision making and to incorporate high ethical standards into heir daily behavior
ethics training
highlight the risks from public disclosure of one’s actions
spotlight questions
expose misconduct of organization and their members
whistleblowers
is a formal statement of values and ethical standards
code of ethics
people and institutions most directly affected by an organizations performance
stakeholders
is the obligation of an organization to serve its own interests and those of its stakeholders
corporate social responsibility
organizational performance includes financial social and environmental criteria
triple bottom line
what are the 3 P’s of organizational performance
profit, people, planet
is that business should focus on the pursuit of profits
classical view of CSR
is that businesses should focus on contributions to society not just making profits
socioeconomic view of CSR
exists when corporate social responsibility leads to improved financial performance that leads to more social responsibility
virtuous cycle
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 organizations performance in various areas of corporate social responsibility
social responsibility audit
is a goal that addresses the rights of present and future generations as co-stakeholders of present-day natural resources
sustainability
is where firms operate in ways that both meet the need of customers and protect or advance the well-being of our natural environment
sustainable business
is making use of natural resources to meet today’s needs while also preserving and protecting the environment for use by future generations
sustainable development
is the storehouse of natural resources - atmosphere land water and minerals that we use to sustain life and produce goods and services for society
environmental capital or natural capital
is a global quality standards that certifies organizations that set environmental objectives and targets account for the environmental impact of their activities and continuously improve environmental performance
ISO 14001
