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MBA - MGT 552 - Nonmarket Strategy > Exam 2 > Flashcards

Exam 2 Flashcards

1
Q

Publics Opinion of Business Ethics - 2 things

A

1 - Are the media reporting bus ethics more rigorously?

2- Is it society that is changing?

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2
Q

Define Ethics

A

Standards of conduct that originate from some external group or source such as society in general, or business in particular.

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3
Q

Define morals

A

Standards of conduct that originate within the individual

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4
Q

Define business ethics

A

Concerned with rightness, wrongness, fairness, or justice of actions, decisions, policies, and practices that take place within a business context or the work place

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5
Q

Define descriptive ethics

A

Concerned with describing, characterizing, and studying the morals of people, an organization, culture or society

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6
Q

Descriptive ethics vs Normative ethics

A

Describes what is occurring vs what ought to be

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7
Q

Define Normative ethics

A

Concerned with supplying and justifying a coherent moral system of thinking and judging

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8
Q

What is the conventional approach to business ethics

A

To compare a decision, practice, or policy that is being used in practice with prevailing norms of acceptability in society

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9
Q

Ethics and the Law - what do they have in common?

A

Both have to do with what is considered right in the eyes of society (NOT always true for law)

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10
Q

What questions do you ask when making ethical judgements

A

1 - What is the true nature (Observe/participate in an action)
2 - What are societies norms
3 - What value judgements are made by someone

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11
Q

Define ethical relativism

A

The idea of picking and choosing which set of norms we wish to apply on the basis of our current action (for making ethical judgements) - BE WARY

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12
Q

What are the 3 central values of business ethics? How do they overlap?

A

Ethics, Economics, and Law
Ideal: All 3 overlap
Caution: Legal and profit; profit and ethic
Seek profit: Legal and ethical

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13
Q

List the three models of MGT Ethics

A

Immoral, Moral, Amoral

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14
Q

Define immoral mgt

A

An approach to MGT devoid of ethical principals or precepts and at the same t, imposes a positive and active opposition to what is ethical.
SELFISH MGT and knows right from wrong - just goes against it

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15
Q

Define moral management

A

An approach to MGT that conforms to the highest standards of ethical behaviour/professional standdards of conduct
FAIR/BALANCED MGT that wants to succeed in confines of ethics & law

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16
Q

Define Integrity strategy

A

Characterized by a conception of ethics as the driving force of an organization - used in moral management

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17
Q

What are the 7 habits of moral leaders

A 
Passion to do right
Morally proactive
Consider all SH
Strong ethical character
Obsession w/fairness
Undertake principle decision making
Integrate ethics wisdom w/mgt wisdom
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18
Q

Define Amoral MGt

A

Not just a middle ground - 2 kinds intentional & unintentional

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19
Q

Define Unintentional Amoral MGT

A

Do not think of business in ethical terms because they are casual, careless, or inattentive on the fact that their decisions may have a negative effect on ethics

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20
Q

Define intentional amoral MGT

A

Do not use ethics because they believe its outside the business sphere

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21
Q

Define unconscious bias and its importance

A

It is part of the way management is - part of amoral mgt

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22
Q

Define compliance strategy

A

submission to law as driving force - MGT as rational maximizer of self interest w/indifference to moral legitimacy of choices
Used in amoral mgt

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23
Q

List the 2 hypothseis of the Models of MGT Morality

A

Population hypothesis and Individual hypothesis

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24
Q

Define the population hypothesis of the Models of MGT Morality

A

Distribution of 3 models might approximate a normal curve within MGR pop - Amoral large middle with moral and immoral on outskirts

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25
Q

Define the individual hypothesis of the Models of MGT Morality

A

Each manager has a normal curve with the 3 styles w/in - amoral large middle, moral and immoral outskirts

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26
Q

How many levels/stages are in Kohlberg’s Levels of Moral Development

A

3 levels with 6 stages (2 per level)

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27
Q

List the levels/stages of Kohlberg’s Levels of Moral Development

A

Preconventional - Reaction to punishment, Seeking of rewards
Conventional - Good boy/nice girl, law and order making
Post conventional/Autonomous/Principled - social contract orientation, universal ethical principle orientation

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28
Q

Preconventional level of Kohlberg’s Levels of Moral Development

A

Including the stages (1&2) of Reaction to punishment and Seeking of rewards, the focus mainly on the self
Typical of infants and children

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29
Q

Conventional level of Kohlberg’s Levels of Moral Development

A

Including the stages (3&4) of Good boy/nice girl and law and order making, the individual learns the importance of conforming to the conventional norms of the group/society

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30
Q

Post conventional/Autonomous/Principled level of Kohlberg’s Levels of Moral Development

A

Including the stages (5&6) of social contract orientation and universal ethical principle orientation, it is the level at which morality becomes self-acceptable. Few reach this level

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31
Q

Define ethics of care - Jill

A

View that women use ethics as relationship maintenance/hurt avoidance, composed of three levels

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32
Q

What are the three levels of the ethics of care

A

1- self
2- establish connections and principles
3- own needs and needs of others

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33
Q

What are the sources external to the organization in the web of values

A 
Religious (fairness)
Philosophical (reason)
Cultural (traditions, societies influence)
Legal (minimal codification)
Professional (prof org/leaders)
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34
Q

What are the sources internal to the organization (ethical values)

A 
Respect for authority
Loyalty to bosses and org
Conform to principles
Performance counts above all else
Results above all else
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35
Q

What is the bottom line mentality in the internal org. ethical value view

A

The internal sources of ethics that work together as area influential on behaviour

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36
Q

Define moral imagination

A

Ability to perceive that a web of competing economic relationships is at the same time, a web of moral/ethical relations

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37
Q

What is Moral identification and ordering

A

A practical decision phase of moral judgements and entails essential skills, such as coherence and consistency that have proved to be effect principles in other contexts

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38
Q

What is tolerance of moral disagreement and ambiguity

A

The extension of a managerial aptitude that is present in practically all decision-making strategies mgrs face, including ability to hear, discuss and be respectful towards other perspectives

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39
Q

What is integration of managerial and moral competence

A

Capability to make ethical decisions in an organization

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40
Q

What is a sense of moral obligation

A

Requires the intuitive or learned understanding that moral threads are woven into the fabric of managerial decision making and are the integral components that hold systems together

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41
Q

What are the 4 main levels ethical issues can appear at within a business

A

Personal
Managerial and Organizational
Industry/Professional
Societal and Global

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42
Q

What is the personal level an ethical issues can appear at within a business

A

Occur outside of employment but with implications on job

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43
Q

What are the questions of the managerial and organizational level an ethical issues can appear at within a business

A

Should I set high goals even thought might require cutting corners? Should I authorize a subordinate to side-step company policy to close a deal before months end?

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44
Q

What is the industry/professional level an ethical issues can appear at within a business

A

Regulate, insurance, etc

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45
Q

What is the societal and global level an ethical issues can appear at within a business

A

MGTS acting in concert through company and industries

46
Q

Define managerial ethics

A

Entails making decisions with ethical implications or consequences

47
Q

Define conflict of interest

A

Present when an individual has to chose b/t his or her interest and the interests of someone else/some other group

48
Q

Define the principles approach to ethics

A

Based on the idea that employees and mgrs desire to anchor their decisions and actions on more solid foundation than that provided with the conventional approach

49
Q

What is an ethics principle

A

Concept, rule, or guideline that, if applied when faced with ethical decision, will assist you in taking the ethical course of action

50
Q

List the types of ethicals or theories

A

Teleological
Deontological
Aretaic

51
Q

Define teleological theories (ethical principles)

A

Focus on the consequences or results the actions they produce - UTILITARIAN

52
Q

Define deontological theories (ethical principles)

A

Focus on the duties

53
Q

Define aretaic theories (ethical principles)

A

Aristotle’s view that sees the individual as a member of a social unit and moral virtue as a behavioral habit

54
Q

What is the principle of utilitarianism

A

A consequential principal that asserts “we should always act as so to provide the greatest ration of good to evil for everyone”

55
Q

What is Kant’s Categorical Imperative

A

A duty-based principle of ethics with 3 formulations, including the principles of ends and principle of autonomy

56
Q

What is the first formulation of Kant’s Categorical Imperative

A

only act on rules that you would be willing to see all follow

57
Q

What is the second formulation of Kant’s Categorical Imperative

A

The principle of ends - treat people as an ends not just means

58
Q

What is the third formulation of Kant’s Categorical Imperative

A

the principle of autonomy - we do not need an external authority to determine the nature of moral law

59
Q

What is the principle of rights

A

Rights can only be overridden by a more basic or important right

60
Q

what are moral rights

A

important, justifiable claims or entitlements

61
Q

What are legal rights

A

Rights that a governing authority has

62
Q

Qhat are negative rights

A

Right to be left alone - think and act free of concern

63
Q

what are positive rights

A

Right to something, such as food, Healthcare, etc

64
Q

Define competing rights

A

The dilemma that is made when not a clear “right vs wrong” but is actually a “right vs right”

65
Q

What are the 2 steps to determine competing rights

A

1 - eliminate the conflict by reframing it

2 - Decide what is “more right”

66
Q

Dfine principle of justice

A

Involves the fair treatment of each person based on type of work, effort, merit needed, time spent, etc

67
Q

Define distributive justice

A

Distribution of benefits and burdens in society and organizations

68
Q

Define compensating justice

A

compensating someone for a past injustice

69
Q

define procedural justice/ethical due process

A

fair decision making procedures, practice, or agreements based on three factors - input included? Decisions implemented appropriately? Do mgrs provide explanations/treat others with respect?

70
Q

Define Rawl’s Principle of Justice

A

Based on idea that what we need first is a fair method by which we may choose the principles and through conflicts will be resolved

71
Q

What are the 2 components of Rawls’ Principle of Justice

A

1 - Each person has equal right to basic liberties
2 - Social and economic inequalities are arranged so they a) reasonably expected to be everyone’s advantage and b) attached to positions

72
Q

Define Virtue Ethics

A

Focuses on the individual becoming imbued with virtues

73
Q

What are the virtues of virtue ethics

A 
Honesty
Fairness
truthfulness
trustworthiness
benevolence
respect
74
Q

Define Servant leadership

A

An approach to ethical leadership decision-making based on serving others first

75
Q

What are the 10 key characteristics to servant leadership?

A 
Listening
Empathy
Healing
Persuasion
Awareness
Foresight
Conceptualization
commitment to growth of people
stewardship
building community
76
Q

Define the golden rule and 4 reasons why to follow it

A 
Do unto others as you would have them do unto you
1 - accepted by most people
2 - easy to understand
3 - win/win philosophy
4 - acts as a compass when you need one
77
Q

What is the test of common sense

A

Does the action I am getting ready to take really make sense? (smell test)

78
Q

What is the test of on’es best self

A

Is this decision I am about to take compatible with myself at my best

79
Q

What is the test of making something public (disclosure rule)

A

How would I feel if others knew I was doing this (MOST POWERFUL TEST)

80
Q

What is the test of ventilation

A

Expose your proposed action to others and get their thoughts o nit before acting

81
Q

What is the test of a purified idea

A

If a person of authority says it is acceptable (BUT BE CAUTIOUS OF WHO YOUR AUTHORITY FIGURE IS)

82
Q

What is the test of the big 4

A

Greed, speed, laziness and haziness - has your action fallen victim to any of these?

83
Q

What is the gag test

A

Gag at prospect of carrying out the task - not always effective depending on what the task is

84
Q

What ethical test should be utilized for decision making?

A

No one test alone should be used, but multiple in conjunction.

85
Q

What is the “hierarchy” of influence on an individuals moral climate within an organization

A 
Societies moral climate
Business moral climate
Industries moral climate
Organizational moral climate
Superiors, policies, and peers influence on the individuals moral climate
86
Q

What is an organizations ethical culture

A

Refers to shared beliefs, values, behaviour and ways of doing things in an organization

87
Q

What are the concerns w/ compliance method of ethics

A

1 - could undermine the ethical way of thinking
2 - compliance can squeeze out ethics
3 - false consciousness

88
Q

What are the 3 key elements to the best practices for improving organizational ethics

A

1 - presence of ethical leadership
2- existence of core ethical values by policies, processes, and practices
3 - formal ethics program

89
Q

Moral manager vs moral person

A

2 important pillars to leadership
moral manager: recognizes the importance of using ethics
moral person: traits, behaviour, and decision making

90
Q

What are the three important communication principles of ethical messages

A

1 - candor: mgr is forthright, sincere, and honest in communication
2 - fidelity: communicator is faithful to detail, accurate, and avoids deception
3 - confidentiality: exercise care in disclosure

91
Q

What are ethical compliance programs

A

Organizations, managers, people, or departments that have responsibility of monitoring and improving ethics in an organization

92
Q

What are ethics and compliance officers

A

In charge of implementing the array of ethics and compliance initiatives in an organization

93
Q

What is an ethics screen

A

Consists of several standards against which the proposed course of action is to be compared

94
Q

Ethics check

A

Is it legal, is it balanced, how will it make me feel about myself

95
Q

Ethics quick test - 7 Qs

A 
Legal
Comply with values?
Will you feel bad if you do it?
How will it look in the news?
If you know its wrong, dont do it
If youre not sure, ask
Keep asking until you get an answer
96
Q

How do you discipline violators of ethical standards

A

Be clear in what ethics are and take action when not followed

97
Q

How should business ethics training be

A 
1 - be specific
2 - two-way converstaion
3 - interactive
4- memorable, use situations
5 - relatable
6- reinforced
7 - repeated
8 - visible
9 - Enforce ethics hotlines
98
Q

What are ethical audits

A

Intended to carefully review ethics initiatives, such as ethic programs, codes of conduct, hotlines and training programs to determine their effectiveness and results

99
Q

What is a fraud riska ssessment

A

the review process designed to carefully ID and monitor conditions and events that may have some bearing on the compliance/misconduct risk and review methods for dealing with those concerns

100
Q

What is corporate transparency

A

Refers to a quality, characteristic, or state in which activities, promises, practices, and decisions that take place be open to the outside

101
Q

What is behaviour ethics

A

descriptive in nature, it helps us to understand at a deeper level many of the behavioural processes that research has shown are actually taking place in people and society

102
Q

Bounded ethicality

A

tends to occur when managers and employees find that even when they aspire to behave ethically it is different due to a variety of different organizational processes and psychological tendencies that interfere

103
Q

Conformity bias

A

tendency to take ethical cues from peers rather than using their own independent judgement

104
Q

Define overconfidence bias

A

Tendency of people to be more confident of their own moral behaviour than they have objective view to be

105
Q

Self-serving bias

A

propensity of people to process info in a way that aligns with their current beliefs

106
Q

Framing

A

peoples ethical judgements are affected by how a Q is proposed

107
Q

Incrementalism

A

predisposition toward the slippery slope

108
Q

Role morality

A

tendency some people have to use different ethical standards as they move through different roles in their life

109
Q

Moral equilbrium

A

the penchant for people to keep an ethical scoreboard in their heads and use this info when making future decisions

110
Q

What are the 5 barriers to an ethical organization

A

1 - ill-conceived goals
2 - motivated blindness (overlook others questionable behaviours when it is i n ones own best interest)
3 - indirect blindness ( when one holds others less accountable for unethical behavior)
4- slippery slope
5 - overcoming values (act of letting questionable behaviours pass if outcome is good)

MBA - MGT 552 - Nonmarket Strategy (2 decks)

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