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POM > Ethics and Social Responsibility > Flashcards

Ethics and Social Responsibility Flashcards

1
Q

What is organisational social responsibility?

A

obligation of an organisation to
take actions that protect and improve
the welfare of society as a whole
along with its own interests

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2
Q

What are the 4 major areas that call for corporate social responsibility?

A

Environmental concerns
Consumerism
Equal opportunity in employment
Community support/Philanthrophy

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3
Q

Why does a business have a social obligation

A

Business is a vital part of society

Stable environment for long-term profits

Have managerial, financial, technical know-how to help solve society’s problems

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4
Q

What are the reasons for a business not having a social obligation?

A

Business primary responsibility is to make profits

Social problems are public responsibility

It is unethical for managers to use other people’s money for social responsibility activities

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5
Q

To whom and for what is a business responsible for? What is this concept?

A

The stakeholder concept

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6
Q

What is a stakeholder?

A

all groups within or outside the org interest in the co. operations

affect or are affected by
business actions or inactions

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7
Q

What are the major stakeholders?

A 
Shareholders and owners
Employees
Customers
Suppliers
Creditors
Competitors
Community
Public interest groups and media
Government
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8
Q

Who are shareholders and owners?

A

individuals or institutions
legally hold shares in
private or public organisation

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9
Q

What responsibility does the management have to shareholders?

A

Provide a healthy return on investment

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10
Q

Who are employees?

A

Individuals hired by organisation
perform specific duties
packaged into the job

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11
Q

What do employers have to meet for employees

A

health, safety requirements

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12
Q

Health and safety requirements include workplaces being

A

hazard-free

general health and safety of employees protected

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13
Q

Who are customers?

A

individuals or businesses that buy goods and services

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14
Q

What do customers expect?

A

Goods and services to be available at a fair price to meet their needs

Products, reliable, durable, high quality

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15
Q

Who are suppliers?

A

Individuals or businesses that provide goods and services for the agreed compensation

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16
Q

What are the things that are important to suppliers

A

regularity with which orders are placed
Promptness of payment
Stability and soundness of organisation

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17
Q

Organisation have the responsibility to suppliers to

A

be prompt in payment

maintain stability of business

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18
Q

Who are creditors

A

individuals or institutions to which money is owed

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19
Q

What are creditors and lenders interested in?

A

business liquidity

financial health

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20
Q

What do creditors rely on?

A

regular payments

all debt to be paid

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21
Q

Who are competitors?

A

companies in the same industry/ similar industry

offer similar product or service

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22
Q

Competitors have a stake in an organisation’s

A

performance

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23
Q

Who is the community

A

group of people living in one place, district or country

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24
Q

Community benefits from the organisation through

A

jobs that it provides

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25
Q

What is the adverse effect from the organisation to a host community?

A

Contamination with production waste

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26
Q

Who are public interest groups?

A

non-profit, voluntary organisations
members have a common cause
seek to influence public policy

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27
Q

Public interest groups use what to disseminate news and information?

A

media

communication channels

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28
Q

What do public interest groups represent?

A

interests of other stakeholders

e.g. general public/workers

29
Q

Who is the government?

A

A body of people
sets and administers public policy
exercises political power through laws within a country

30
Q

Why is the government a stakeholder?

A

Depend on organisations for tax revenues and economic development

Responsibility to regulate business and ensure equipment is not spoiled

31
Q

Environmental issues stem from

A

interrelationship of living things and their environment

32
Q

Businesses can affect the environment in which 2 ways?

A

Energy conservation

Pollution control

33
Q

Why is conservation measures required?

A

Largest consumers of energy

Generate tremendous savings of society’s natural resources

34
Q

What are the benefits for organisations and consumers in conservation?

A

reduce costs

keep prices down

35
Q

What are the conservation actions taken by companies

A

develop long, short-term conservation plans
studying ways of operating machinery more efficiently
Replacing it with up-to-date energy-efficient equipment

36
Q

What individuals can do to conserve the environment?

A

Reduce
Reuse
Recycle

37
Q

What is pollution?

A

any contamination of
air, water, land
in which life exists

38
Q

Why is air pollution a major problem?

A

it can cause extremely harmful physical effects on people
higher medical expenses
lost wages
reduced productivity

39
Q

Where does air pollution come from?

A

industrial processes
burned fuel from power-generating plants
moto vehicles
cigarette smoke

40
Q

Where does water pollution come from

A 
industrial toxic wastes
fertilisers
sewage
leakage of underground dumps
acid rain
41
Q

What are the actions taken by businesses to reduce pollution?

A

designated no-smoking areas
car manufacturers redesign their engines
treating waste materials before disposal into lakes and streams
recycling treated water to reuse in production process

42
Q

What is consumerism

A

movement designed to provide buyers with
info, bargaining power necessary for obtaining
high quality, safe products and services

43
Q

What are the issues in consumerism?

A

incomplete information in advertising
product safety
overcharging/profiteering
coercive selling

44
Q

Many advertisement give incomplete information that is

A

ambiguous

45
Q

What is the tactic used in information-related problems?

A

bait and switch

46
Q

What is bait and switch?

A

The store advertises a product at a low price
tell customer it is out of stock, low quality
recommends a higher priced alternative

47
Q

How do you solve or control information-related problems?

A 
educate employees
communicate with consumers
provide brochures and other written materials
establish a customer service
be honest with advertisement
48
Q

Why is product safety important?

A

injuries can come from using mechanical equipment products that fail to work as intended

49
Q

How is there a lack of product safety?

A

inadequate engineering or testing

stem from failure to anticipate the way the product will be used

50
Q

How do businesses assume responsibility for product safety?

A

product recalls
warranties or guarantees
in-house checks before shipment from factory
evaluation of feedback from users
disclosing information on product quality, pollution from use, product related social information

51
Q

What is overcharging?

A

taking advantage of policies to raise prices

52
Q

What is coercive selling?

A

use of pressure sales techniques
other coercive methods
force consumers to purchase their products

53
Q

How should the business ensure equal opportunity in employment?

A

establishing HR policies affirming equal employment for all

providing equal training and promotion opportunities for all employees

54
Q

What are business ethics?

A

standards of conduct or moral judgement
differentiating right from wrong

used by mangers in carrying out their business

form the core of social responsibility causing managers to take socially responsible actions

55
Q

What are some ethical issues?

A

conflict between personal values and organisational goals

conflict between organisational goals and social values

hazardous but popular products

exploitation of certain groups

56
Q

What can happen in a conflict between organisational goals and social values?

A

company too preoccupied with its goals

loses touch with societal norms

57
Q

Group that can be exploited include

A

customers, employees, suppliers

58
Q

What are the factors affecting business ethics?

A

individual characteristics
organisation’s structural design
organisation’s culture

59
Q

What are the individual characteristics affecting business ethics?

A

Personal values

Ego strength

60
Q

Why is there personal values?

A

Every person enters and organisation with a relatively entrenched set of values

61
Q

What is ego strength?

A

the measure of strength of one’s conviction

62
Q

What are the two things in structural design that affects business ethics

A

guidance

Formalisation

63
Q

what is formalisation?

A

rules
job descriptions
written code of ethics

64
Q

What is a good organisation culture for good business ethics?

A

high in direction

conflict tolerance

65
Q

What are the ethical guidelines

A 
Obey the law
tell the truth
show respect for others
stick to the golden rule
above all, do no harm
The TV test
66
Q

What is the golden rule?

A

do unto others as you would have them do unto you

67
Q

What is the TV test?

A

have the honesty and integrity to appear in front of the media to tell the truth

68
Q

What is the most effectives way to encourage ethical business behaviour?

A

Code of ethics

69
Q

What does the code of ethnics describe?

A

general value system
ethical principles
specific rules

guide employees in their daily behaviour

POM (16 decks)

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