Chapter 5 Flashcards
1
Q
3 ethics check questions
A
Is it legal
Is it balanced
How will it make me feel about myself
2
Q
3 ethics check questions
A
Is it legal
Is it balanced
How will it make me feel about myself
3
Q
Why should businesses be managed ethically
A
Maintain good reputation Keep existing customers Attract new customers Avoid lawsuits Reduce employee turnover Avoid gov intervention Please society Do the right thing
4
Q
Compliance based ethics
A
Increase control and penalize wrongdoers
5
Q
Integrity based ethics
A
Define guiding values
Support ethical behavior
Shared accountability
6
Q
Six steps to improve ethics
A
Top management support Expectations begin at the top Ethics imbedded in training Ethics office set up External stakeholders informed There must be enforcement
7
Q
Corporate social responsibility
A
The concern businesses have for the welfare of society
8
Q
Corporate philanthropy
A
Charitsble donations to non profit groups
9
Q
Corporate social initiations
A
Enhanced forms of corporate philanthropy
Ex: J & K sends medical supplies to disaster areas
10
Q
Corporate responsability
A
Acting responsibly w s
