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MGMT 3480 > Ethics Vocabulary List > Flashcards

Ethics Vocabulary List Flashcards

Vocabulary

1
Q

Acid Rain

A

A generic term used for precipitation that contains an abnormally high concentration of sulphuric and nitric acid.

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2
Q

Active Shareholders

A

Those who participate in the governance to the full extent allowed by the law.

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3
Q

Anti-Globalists

A

Individuals and organizations that oppose globalization or are critical of it.

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4
Q

Audit Committee

A

Comprises members of the board of directors and oversees the internal and external accounting auditing function to ensure that financial statements accurately and appropriately represent the condition of the corporation and that regulated disclosures are made.

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5
Q

Board of Directors

A

A group of individuals elected by shareholders to govern or oversee the corporation?s affairs.

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6
Q

Business Citizenship

A

Includes the responsibilities of corporate citizenship on a local and national basis and extends it to a global or universal scope.

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7
Q

Business Ethics

A

Rules, standards, codes, or principles that provide guidelines for morally right behavior and truthfulness in speci?c situations.

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8
Q

Business sustainable development

A

According to the IISD, ?adopting business strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining, and enhancing the human and natural resources that will be needed in the future.?

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9
Q

Business-to-Business

A

Commercial activity, where one corporation sells goods or services to another corporation rather than to consumers.

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10
Q

Carbon Capture and Storage (CCS)

A

With CCS, carbon dioxide emissions are captured and injected into underground cavities.

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11
Q

Cause-related marketing

A

The purchase of a particular product results in a donation being made by a corporation to a non-pro? t organization?s program.

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12
Q

Charitable foundation

A

A corporation or trust that is constituted and operated exclusively for charitable purposes.

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13
Q

Civil Society

A

The voluntary, community, and social organizations or institutions that contribute to the functioning of society but are not related to or supported by government.

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14
Q

Climate Change (Global Warming)

A

?The result of human activities altering the chemical composition of the atmosphere through the build-up of greenhouse gases that trap heat and re?ect it back to the earth?s surface.?

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15
Q

Code of Conduct

A

Explicitly states what appropriate behaviour is by identifying what is acceptable and unacceptable.

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16
Q

Code of Ethics

A

A statement of principles or values that guide behaviour by describing the general value system within which a corporation attempts to operate in a given environment.

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17
Q

Community Investment

A

The efforts of a corporation to help develop a community and create economic opportunities

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18
Q

Competition

A

The condition in a market system in which many rival sellers seek to provide goods and services to many buyers.

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19
Q

Conflict of Interest

A

A situation in which an individual has a private or personal interest that is suf?cient to appear to in?uence the objective exercise of that individual?s duties.

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20
Q

Consumer Sovereignty

A

The assumption existing in an economy that consumers have and exercise power over producers through the decisions they make in purchasing the goods and services provided by corporations.

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21
Q

Consumerism

A

A social movement seeking to protect and augment the rights and powers of buyers in relation to sellers.

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22
Q

Coporate Governance

A

The processes, structures, and relationships through which the shareholders, as represented by a board of directors, oversee the activities of the corporation.

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23
Q

Corporate Citizenship

A

A corporation demonstrating that it takes into account its role in and complete impact on society and the environment as well as its economic in?uence.

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24
Q

Corporate Ethics Programs

A

Some combination of a statement of values, codes of conduct and/or ethics, ethics training, ethics audits and consulting services, ethics of?cers and committees, and ethics reporting systems.

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25
Q

Corporate Philanthropy

A

The effort of business to contribute to society socially; manifested by donations of money or goods and services in kind, voluntarism (where corporate employees work for social causes), and sponsorship of events that contribute to society.

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26
Q

Corporate Social Responsibility

A

The way a corporation achieves a balance among its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations.

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27
Q

Corporate Sponsorship

A

?A partnership, which has been established for mutual bene?t between a business sponsor and an event or a non-pro?t.?

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28
Q

Corporate Sustainability

A

Corporate activities demonstrating the inclusion of social and environmental as well as economic responsibilities in business operations as they impact all stakeholders to ensure the long-term survival of the corporation.

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29
Q

Corporate Voluntarism

A

The time and talent employees commit to community organizations with support and/or consent from employers who recognize the value of such efforts to society.

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30
Q

Corruption

A

According to Transparency International, ?the abuse of entrusted power for private gain.?

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31
Q

Creative Capitalism

A

Places the resolution of social needs as primary, instead of secondary to economic activity and performance.

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32
Q

Discrimination

A

The preferential (or less than preferential) treatment on bases not directly related to quali?cations of the job or performance on the job.

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33
Q

Diversity Management

A

A voluntary initiative that goes beyond what is required by law to eliminate workplace discrimination.

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34
Q

Dual-Class stock

A

More than one type of share or stock with different voting rights and dividend payments is issued by a single corporation.

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35
Q

Economic Efficiency Ethic

A

Judges the moral implications of a decision by its economic consequences and provides the moral justi?cation for a market system.

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36
Q

Economic Freedoms

A

Exist when the business system operates with few restrictions on its activities.

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37
Q

Economic Globalization

A

The integration of fragmented markets into a global economy.

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38
Q

Ecosystem

A

A biological community of interacting organisms and their physical environment.

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39
Q

Emissions Trading

A

A system whereby corporations set targets for greenhouse gas reduction; if one corporation cannot meet the target it purchases credits from those corporations that have met their targets.

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40
Q

Employment Equity

A

The fair and equal treatment of employees.

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41
Q

Environmental Non-Governmental Organization (ENGOs)

A

Groups that hold shared values or attitudes about the challenges confronting the natural environment and advocate for changes to improve the condition of the environment.

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42
Q

Environmental Ethic

A

The set of values or principles that govern a corporation?s practices relating to the environment.

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43
Q

Equality of Opportunity

A

The assumption that all individuals or groups have an even chance at responding to some condition in society.

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44
Q

Ethic of Caring

A

Gives attention to speci?c individuals or stakeholders harmed or disadvantaged and their particular circumstances.

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45
Q

Ethic of Jsutic

A

Considers that moral decisions are based on the primacy of a single value: justice.

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46
Q

Ethical Relativism

A

The belief that ethical answers depend on the situation and there are no universal standards or rules to guide or evaluate morality.

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47
Q

Ethics Audit

A

A systematic effort to discover actual or potential unethical behaviour in an organization.

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48
Q

Ethics Committee

A

A group, comprising directors, managers, or staff, formed to monitor ethical standards and behaviour.

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49
Q

Ethics Officer

A

An independent manager, reporting to the board of directors or CEO, who reviews complaints or information from anyone in the organization or any stakeholder, studies the situation, and recommends action if necessary.

50
Q

Extended Producer Responsibility

A

?An environmental policy approach in which a producer?s responsibility, physical and/or ? nancial, for a product is extended to the post-consumer stage of a product?s life cycle.?

51
Q

Fair Trade

A

A term commonly used to identify products that are involved with sustainability purchasing but usually focuses on the beginning of the product chain.

52
Q

Fiduciary Duties

A

Obligations owed by directors to shareholders that are prescribed by laws or regulations.

53
Q

Globalists

A

Individuals and organizations that support globalization.

54
Q

Globalization

A

A process of decreasing constraints on the interactions among the nations and peoples of the world.

55
Q

Governing System

A

The processes, structures, and relationships through which decisions are made.

56
Q

Government Requirements Ethic

A

The acceptance of a code of laws as the governing rules of society or as a contract with society that determines what is considered right or appropriate behavior.

57
Q

Green Marketing

A

Selling environment ally friendly goods and services to consumers.

58
Q

Greenwashing

A

Occurs where the corporation does not seriously address environmental issues but merely talks about how it does, or takes token actions rather than really solving the problem.

59
Q

Human Rights

A

The fundamental rights and freedoms to which all individuals, groups, and societies are entitled.

60
Q

Independent (unrelated) director

A

?A director who is free from any interest and any business or other relationship which could, or could reasonably be perceived to, materially interfere with the director?s ability to act in the best interests of the corporation.?

61
Q

Individual Rights Ethic

A

Relies on a list of agreed-upon rights for everyone that will be upheld by everyone and that becomes the basis for deciding what is right, just, or fair.

62
Q

Individualism

A

The view that the individual, and not society or a collective, is the paramount decision maker in society and assumes that the individual is inherently decent and rational.

63
Q

Integrity Management

A

An ethics program that combines a compliance-based and a values-based approach.

64
Q

Intellectual property

A

Umbrella term for patents, copyright, trademarks, industrial designs, integrated circuit topographies, and plant breeders? rights.

65
Q

International Non-Governmental Organizations (INGOs)

A

Groups that hold shared values and attitudes about the issues relating to globalization and advocate for changes to improve the conditions in developing countries.

66
Q

Investors

A

Individuals who personally hold equity interests for investment purposes and who are not involved in the corporation as entrepreneurs or managers.

67
Q

Issue

A

A point in question or a matter that is in dispute where different views are held of what is or what ought to be corporate performance?based management or stakeholder expectations.

68
Q

Issues Management

A

A systematic process by which the corporation can identify, evaluate, and respond to those economic, social, and environmental issues that may impact signi?cantly upon it.

69
Q

Kyoto Protocol

A

An agreement formulated by the United Nations Framework Convention on Climate Change where countries agreed to reduce emissions of carbon dioxide and other greenhouse gases to 6 percent below 1990 levels by 2012.

70
Q

Labour-supported Investment Funds (LSIFs)

A

Funds that provide venture capital primarily to private corporations to create employment.

71
Q

Libel Chill

A

Libel chill occurs when a business threatens legal action if a particular article or book is published.

72
Q

Market Environmentalism

A

Exists where economic incentives created by the market are more effective at protecting the environment than is government intervention.

73
Q

Microfinance

A

The provision of ?nancial products, such as microcredit, micro-insurance, and savings accounts, to persons living in areas of poverty without access to banking services.

74
Q

Moral Reasoning

A

A systematic approach to thinking or reasoning through the implications of a moral problem or issue.

75
Q

Moral Standards

A

The means by which individuals judge their actions and the actions of others based upon accepted behaviour in society.

76
Q

Mutal Fund

A

A pool of money from many individual investors that is invested on their behalf, usually in a speci? c kind of investment.

77
Q

Non-Governmental Organizations

A

Any group that holds shared values or attitudes about an issue confronting society.

78
Q

Non-Voting Shares

A

Common shares without voting privileges.

79
Q

Offsets (emissions-reduction credits)

A

Credits purchased from other corporations or organizations to mitigate greenhouse gases released into the environment.

80
Q

Oligopoly

A

Type of competition where the few sellers in an industry behave similarly.

81
Q

Owners

A

Those individuals or groups who have invested in a corporation in the form of equity or shares; usually referred to as shareholders.

82
Q

Ozone

A

Naturally occurring gas, formed from normal oxygen, that protects the earth by ? ltering out ultraviolet (UV) radiation from the sun.

83
Q

Passive Shareholders

A

Those who do not attempt to in? uence the affairs of the corporation even though they have a legal right to do so.

84
Q

Perosnal Virtues Ethic

A

An individual?s or corporation?s behaviour is based upon being a good person or corporate citizen with traits such as courage, honesty, wisdom, temperance, and generosity.

85
Q

Philanthrocapitalsim

A

Draws upon modern business practices and an entrepreneurial spirit to get more from corporate social responsibility.

86
Q

Pluralistic Society

A

One where in?uence or power is decentralized by dispersing it among a variety of institutions.

87
Q

Policy Development Institution (think tank)

A

The process by which world power relationships change and there is a loss of sovereignty by the state.

88
Q

Political Globalization

A

The process by which world power relationships change and there is a loss of sovereignty by the state.

89
Q

Private Equity Firms

A

Firms that manage large pools of money acquired from wealthy individuals or families and big institutions such as pension and mutual funds.

90
Q

Reputation Management

A

Any effort to enhance the corporation?s image and good name; in the past, the focus of these efforts was on media and public relations, and, to some extent, crisis management.

91
Q

Responsible Investing

A

Screening investments in corporations or mutual and pension funds for their response to social or ethical responsibilities as well as their ?nancial or economic performance.

92
Q

Restricted Shares

A

Involve some limit on voting, for example only one vote for every 10 or 100 shares owned.

93
Q

Right of private property

A

The legal right to own and use economic goods, for example land and buildings.

94
Q

Self-Interest Ethic

A

Individuals or corporations set their own standards for judging the ethical implications of their actions; only the individual?s values and standards are the basis for actions.

95
Q

Shareholder Democracy

A

The exercise of power by owners to ensure they are treated fairly and enjoy equally the privileges and duties of ownership..

96
Q

Social Enterprise

A

A model of business operation where some or all pro?ts are deliberately used to further social aims.

97
Q

Social Entrepreneur

A

An innovative, visionary leader of a non-pro?t with real-world problem-solving creativity and a high awareness to ethical considerations.

98
Q

Social Impact management

A

De?ned by the Aspen Institute as ?the ?eld of inquiry at the intersection of business needs and wider societal concerns that re?ects and respects the complex interdependency between the two.?

99
Q

Social Media

A

Online technologies and practices that people use to share opinions, insights, experiences, and perspectives.

100
Q

Social or Cultural Globalization

A

The emergence of a worldwide cultural system.

101
Q

Social Venture Phlanthropy

A

The investment of human and ?nancial resources by corporations in non-pro?t community development agencies to generate a social return instead of only a ?nancial one.

102
Q

Sovereign Wealth Fund

A

A state- or government-owned pool of financial instruments including assets such as stocks, bonds, and property that are purchased from wealth accumulated from resource sales (usually petroleum) or government sponsored pension funds.

103
Q

Spirituality

A

An individual?s sense of peace or purpose with him/herself and the connection to others and even nature that provides meaning to life and a sense of one?s self.

104
Q

Standard Environmentalism

A

Occurs when government regulation is a necessary remedy for the market?s failure to provide enough environmental amenities.

105
Q

State Capitalsim

A

An economic system in which governments manipulate market outcomes for political purposes.

106
Q

Statement of Values

A

A description of the beliefs, principles, and basic assumptions about what is desirable or worth striving for in an organization.

107
Q

Strategic Giving

A

An attempt to rationalize the shareholder interest with corporate philanthropy where the corporation bene?ts directly from the funds given.

108
Q

Supply (or value) chain

A

The route that a product travels from the procurement of raw materials, the transformation into intermediate goods and then ?nal products, and the delivery to consumers through a distribution system to its ultimate disposal by the consumer.

109
Q

Supranational Institution

A

An international organization that transcends national boundaries where the member states share in decision making on particular issues pertaining to the members.

110
Q

Sustainability Purhasing

A

??the acquisition of goods and services (?products?) in a way that gives preference to suppliers that generate positive social and environmental outcomes. It integrates sustainability considerations into product selection so that impacts on society and the environment are minimized throughout the full life cycle of the product.?

111
Q

Sustainable Development

A

Development ensuring that the use of resources and the impact on the environment today does not damage prospects for the use of resources or the environment by future generations.

112
Q

Triple-E Bottom Line

A

The Triple-E bottom line (3E) is the evaluation of a corporation?s performance according to a summary of the economic, social or ethical, and environmental value the corporation adds or destroys. A variation is the Triple-P bottom line (3P) which is an evaluation of the corporation?s performance according to pro?ts, people, and planet.

113
Q

Ultilitarian Ethic

A

Focuses on the distribution of bene?ts and harms to all stakeholders with the view to maximizing bene?ts.

114
Q

Universal Rules Ethic

A

Ensures that managers or corporations have the same moral obligations in morally similar situations.

115
Q

Value Judgements

A

Subjective evaluations of what is considered important; are based on how managers intuitively feel about the goodness or rightness of various goals.

116
Q

Venture Capital Company

A

A type of private equity ?rm that usually acquires part ownership of business enterprises

117
Q

Waste Management

A

The ?disposal, processing, controlling, recycling and reusing the solid, liquid, and gaseous wastes of plants, animals, humans and other organisms.?

118
Q

Whistleblowing

A

An act of voluntary disclosure of inappropriate behaviour or decisions to persons in positions of authority in an organization.

119
Q

Work Ethic

A

A code of values, or a body of moral principles, claiming that work is desirable, that work is a natural activity, and that work is good in and of itself.

120
Q

Worker Capitalism

A

Describes employee ownership as workers are turned into capitalists through stock ownership.

MGMT 3480 (1 decks)

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