Chapter Two

Question 1

How do we make “Ethical” Decisions at work?

Answer 1

• Buisness norms and values
• the advice of “significant others” at work
• The immediacy or intensity of the ethical issue

Question 2

What causes “unethical” conduct? (Why do we cheat?)

Answer 2

• “Greed” competition and the chance to “Get away with it”

- The lack of ethical role models

Question 3

Business norms and values

Answer 3

• Mission and vision statements
• Corporate policies
• Rules
• Legal Obligations
• Ect

Question 4

The importance of ethical leadership

Answer 4

-Managers who are not totally committed to maintaining an ethical workplace will rarely succeed in creating one

Question 5

Kohlberg’s Stages of moral development

Answer 5

Proposed that people make different decisions in similar ethical situations because they are at different stages of moral development

Question 6

What are ethics

Answer 6

is the study of what is “right and wrong”

Question 7

What plays a critical role in ethical decision making

Answer 7

Personal values and judgement

Question 8

Business Ethics

Answer 8

means the principles and standards that guide buisness decisions

Question 9

The difference between person ethical decision-making and business ethical decision-making

Answer 9

• Individual vs. collective interests
• just being a “good person” is not enough
• the ambiguity of ethical dilemmas in business

Question 10

The advice of “significant others” at work

Answer 10

most business decisions are made jointly in work groups by co-workers and supervisors

Question 11

The immediacy or intensity of the ethical issue

Answer 11

rewards or punishment for ethical/ unethical behavior

Question 12

Ethical Issue

Answer 12

a problem, situation, or opportunity that requires an individual, group, or organization to chose among serval actions that must be evaluated as right or wrong, ethical or unethical.

Question 13

Ethical Dilemma

Answer 13

is a problem, situation, or opportunity that requires an individual, group, or organization to choose among several wrong or unethical actions.” Often involve “problem-solving situations in which decision-making rules or vague or in conflict

Question 14

Foreign Corrupt Practices Act

Answer 14

Applies to all US companies and their, directors, officers, shareholders, employees, and agents

Question 15

Foreign corrupt practices act prohibits

Answer 15

paying bribes to “officials of foreign governments if the purpose of the payment is to get the officials to act in their official capacity to provide business opportunities.

Question 16

Foreign Corrupt practices act allows

Answer 16

“grease payments” does not generally prohibit bribe payments to private companies. To move along a business transaction more quickly

Question 17

The importance of ethical leadership . Managers and employees

Answer 17

-employees take their cue from management.

Question 18

Business ethicals v employee personal ethics

Answer 18

it is more than a sample extension of employees’ personal ethics

Question 19

Ethics definition

Answer 19

moral principals and values applied to social behavior

Question 20

Buisness ethics definition

Answer 20

ethics in buisness context; a consensus as to what constitutes right or wrong behavior in the world of buisness and the application of moral principals to situations that arise in a business setting.

Question 21

moral minimum

Answer 21

the minimum degree of ethical behvaior expected of a business firm, which is usually defined as compliance with law.

Question 22

stock buyback

Answer 22

a company’s purchase shares of its own stock on the open market

Question 23

stock option

Answer 23

an agreement that grants owner the option to buy a given number of shares of stock, usually within a set time period

Question 24

ethical reasoning

Answer 24

a reasoning process which an individual links his or her moral convictions or ethical standards to the particular situation at hand

Question 25

categorical imperative

Answer 25

a concept developed by the philosopher Immanuel Kant as an ethical guideline for behavior. in deciding whether an action is right or wrong, or desirable or undesirable, a person should evaluate the action in terms of what would happen if everybody else in the same situation, or category, acted the same way

Question 26

principal of rights

Answer 26

the principal that human beings have certain fundamental rights (to life, liberty, and the pursuit of happiness for example). Those who adhere to this “rights theory” believe that a key factor in determining whether a business decision is ethical is how that decision affects the rights of various groups, including employees, customers, and suppliers.

Question 27

Utilitarianism

Answer 27

an approach to ethical reasoning that evaluates behavior in light of the consequences of that behavior for those who will be affected by it, rather than on the basis of any absolute ethical or moral values. In utilitarian reasoning, a “good” decision is one that results in the greatest good for the greatest number of people affected by the decision.

Question 28

cost-benefit analysis

Answer 28

a decision-making technique that involves weighing the cost of a given action against the benefits of that action

Question 29

corporate social responsibility

Answer 29

the idea that corporations can and should act ethically and be accountable to society for their actions.