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MGMT 110 > Chapter 3: Ethics And Shit > Flashcards

Chapter 3: Ethics And Shit Flashcards

1
Q

Ethical climate

A

Employees perceptions about the extent to which work environments support ethical behavior

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2
Q

Triple bottom line

A

Representing people, planet, and profit (3 P’s). Measures an organizations social, environmental, and financial performance

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3
Q

Social audit

A

Systematic assessment of a company’s performance in implementing socially responsible programs, often based on predefined goals

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4
Q

Stakeholders

A

People whose interests are affected by an organizations activities

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5
Q

Internal stakeholders

A

Employees, owners, and the board of directors

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6
Q

Owners

A

All those who can claim the organization as their legal property

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7
Q

Sole proprietorship

A

One man operation

You running your own business

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8
Q

Partnership

A

2 people in a byusiness together

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9
Q

External stakeholders

A

People or groups in the organizations external environment that are affected by it

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10
Q

Task environment

A

Eleven groups that present you with daily tasks to handle: customers, competitors, suppliers, distributors, strategic allies, employee organizations, local communities, financial institutions, government regulators, special interest groups, and mass media

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11
Q

Customers

A

Those who pay to use an organizations goods or services

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12
Q

Competitors

A

People or organizations that compete for customers or resources

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13
Q

Supplier

A

People or organizations that provide supplies - that is raw materials, services, equipment, labor, or energy to other organizations

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14
Q

Distributor

A

People or organization that help another organization sell its good and services to customers

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15
Q

Strategic allies

A

The relationship of two organizations who join forces to achieve advantages neither can perform as well alone

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16
Q

Claw backs

A

Rescinding (cancelling) the tax breaks when firms don’t deliver promised jobs

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17
Q

Venture capital

A

Is money provided by investors to start up firms and small businesses with high risk but perceived long term growth potential, in return for an ownership stake

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18
Q

Crowdfunding

A

Raising money for a project by obtaining small amounts of money from many people

Kickstarter

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19
Q

Government regulators (external stakeholder)

A

External stakeholders

Regulatory agencies that establish ground rules under which organizations may operate

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20
Q

Special-interest groups

A

Groups whose members try to influence specific issues

PETA, MADD

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21
Q

General environment / macro environment

A

In contract to the task environment

Includes: economic, technological, sociocultural, demographic, political-legal, and international

22
Q

Economic forces

A

General economic conditions and trends - unemployment, inflation, interest rates, economic growth - that may affect an organizations performance

23
Q

Technological forces

A

New developments in methods for transforming resources into goods and services

24
Q

Sociocultural forces

A

Influences and trends originating in a country’s, society’s, or a cultures human relationships and values that may affect an organization

25
Q

Demographic forces

A

Influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin

26
Q

Political- legal forces

A

Changes in the way politics shape laws and laws shape the opportunities for the threats in an organization

27
Q

International forces

A

Changes in the economic, political, legal, and technological global system that may affect an organization

28
Q

Ethical dilemma

A

A situation in which you have to decide weather to pursue a course of action that may benefit you or your organization but that is unethical or even illegal

29
Q

Ethics

A

Standards of right and wrong that influence behavior

30
Q

Ethical behavior

A

Behavior that is accepted as “right” as opposed to “wrong” according to those standards

31
Q

Abusive supervision

A

Subordinates perception of the extent to which supervisors engage in the sustained display of hostile verbal and non verbal behaviours, excluding physical contact

32
Q

Workplace cheating

A

Unethical acts that are intended to create an unfair advantage or help attain benefits that an employee would not otherwise be entitled to receive

33
Q

Value system

A

The pattern of values within an organization

34
Q

Values

A

Abstract ideas that guide one’s thinking and behavior across all situations; the relatively permanent and deeply held underlying belief and attitudes that help determine a persons behavior

35
Q

Utilitarian apporach

A

One of four approaches to solving ethical dilemmas; ethical behavior is guided by what will result in the greatest good for the number of people

36
Q

Individual approach

A

One of four approaches to solving ethical dilemmas; ethical behavior is guided by what will result in the individuals best long term interest, which ultimately are in everyone’s self interest

37
Q

Moral rights approach

A

One of four approaches to solving ethical dilemmas; ethical behavior is guided by respect for the fundamental rights of human beings

38
Q

Justice approach

A

One of four approaches to solving ethical dilemmas

Ethical behaviours is guided by respect for impartial standards of fairness and equity

39
Q

Insider trading

A

Illegal trading of a company’s stock by people using confidential company information

40
Q

Sarbanes-Oxley ACT of 2002

A

Established requirements for proper financial record keeping for public companies and penealties for noncompliance

41
Q

Kohlberg Stage one

A

Preconventional - follows rules

42
Q

Kohlberg stage 2

A

Level 2, conventional - follows expectations of others

43
Q

Kohlberg stage 3

A

Level 3, postconventional - guided by internal values

44
Q

4 ways a organization can promote ethics

A

1) create a strong ethical climate
2) screening prospective employees
3) instituting ethic codes and training programs
4) protecting whistleblowers

45
Q

Code of ethics

A

A formal, written set of ethical standards that guide an organizations actions

46
Q

Whistle blower

A

An employee who reports organizational misconduct to the public

47
Q

Social responsibility

A

Managers duty to take actions that will benefit the interest of society as well as of the organization

48
Q

Corporate social responsibility (CSR)

A

The notion that corporations are expected to go above and beyond folllwing the law and making a profit, to take actions that will benefit the interests of the society as well as the organization

49
Q

Corporate social responsibility pyramid

A

Philanthropic Responsibility
Ethical responsibility
Legal responsibility
Economic responsibility

50
Q

Natural capital

A

The value of natural resources, such as topsoil, air water, and genetic diversity which humans depend on

51
Q

Philanthropy

A

Making charitable donations to benefit humankind

52
Q

Corporate governance

A

The system of governing a company so that the interests of corporate owners and other stakeholders are protected

MGMT 110 (11 decks)

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