Ethics

Question 1

Ethical

Answer 1

to know right from wrong and to know when you’re practicing one instead of the other

Question 2

Ethics in business

Answer 2

acting ethical in business means more than simply obeying applicate laws and regulations.

means being:
-honest
-doing no harm to others
-competing fairly
-declining to put your own interests above those of your company, its owners, and its workers

Question 3

Ethical issues

Answer 3

are difficult social questions that involve some level of controversy over what the right thing is to do

Question 4

Environmental protection

Answer 4

is an example of a commonly discussed ethical issue, because there can be tradeoffs between environmental and economic factors

Question 5

Ethical dilemmas

Answer 5

are situations in which it is difficult for an individual to make decisions either because the right course of action is unclear or gives potential negative consequences for the person or people involved.

Question 6

Conflict of interest

Answer 6

individuals must choose between taking actions that promote their personal interest over the interests of others or taking actions that don’t.

Question 7

Doing things right

Answer 7

• integrity
  -respect for human life
  -self control
  -honesty
  -courage
  -self sacrifice

Question 8

Doing things wrong

Answer 8

-cheating
-cowardice
-cruelty

Question 9

Maintain honesty & integrity

Answer 9

-while at work focus on job not non-work activities
-follow own code of personal conduct, act according to own convictions
-don’t appropriate office supplies, products, or other company resources for own use
-be honest with customers, management, coworkers, competitors, and the public
-remember that is the small, seemingly trivial, day to day gestures that build character

Question 10

Golden rule

Answer 10

test helps to know if action is unethical

Question 11

Rationalizations(excuses) for misconduct

Answer 11

-my behavior isn’t illegal or immoral
-my action is in everyone’s best interest
-no one will find out what I’ve done
- the company will condone my actions and protect me

Question 12

Improve ethics in business

Answer 12

1. top management must adopt and unconditionally support an explicit corporate code of conduct
2. Employees must understand that senior management expects all employees to act ethically
3. Managers and others must be trained to consider the ethical implications of all business decisions
4. Am ethics office or forum must be set up with which employees can communicate anonymously.
5. involve outsiders (other stakeholders) such as suppliers, subcontractors, distributors, and customers
   6.ethics code must be enforced

Question 13

Whistleblowers

Answer 13

People who report illegal or unethical behavior

Question 14

Global business ethics

Answer 14

• much more grey area
• more open to abuse
• know the customs
• Company can have great positive influence
• Train and roleplay

Question 15

Coporate social responsibility

Answer 15

refers to the approach that an organization takes in balancing its responsibilities toward different stakeholders when making legal, economic, ethical, and social decisions

Question 16

wage/benefits

Answer 16

-minimum wage
-social security
-unemployment security
-workers compensation
-optional: medical, dental, vision care

Question 17

Health and safety

Answer 17

• never assume
• should be the number one priority, no exceptions
• must be reported to the department of labor

Question 18

Consumer rights- Kennedy

Answer 18

• the right to safe products
  -the right to be informed about a product
  -the right to choose what to buy
• the right to be heard

Question 19

Corporate philanthropy

Answer 19

includes charitable donations

Question 20

Corporate social initiatives

Answer 20

includes enhanced forms of corporate philanthropy

Question 21

Business Ethics

Answer 21

the application of ethical behavior in a business context

Question 22

insider trading

Answer 22

acting on info that is not available to the general public, either by trading or providing others who trade

Question 23

Deception

Answer 23

creation of something that doesnt exist

Question 24

Enviornmental, social governance

Answer 24

the additional influence of government and climate change, no longer working in a social contect

Question 25

Creating shared values

Answer 25

is an aspirational viewpoint developed by Michael Porter and Mark Kramer, views business in an ideal position to solve problems.

Question 26

Fiduciary responsibility

Answer 26

safeguarding the company’s assets and handling funds in a trustworthy manner

Question 27

Diversity

Answer 27

• hiring new talent and fresh perspectives
• improves a company’s ability to serve an ethnically diverse population
  -part of an integrated strategy to create competitive advantage

Question 28

Ethical behavior

Answer 28

-treat employees fairly
-hold every member personally accountable for actions
-Communicate core values and principles to all members
-demand and reward integrity from all members in situations

Question 29

Not as ethical

Answer 29

• they consistently feel uneasy about the work they do
  -object to the way they are treated
• they are uncomfortable about the way coworkers are treated
• they question the appropriateness of management policies