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Business Ethics > Exam 3 (Days 14-20) > Flashcards

Exam 3 (Days 14-20) Flashcards

1
Q

Privacy

A
  1. Privacy as a right to be “let alone” within a personal zone of solitude
  2. Privacy as the right to control information about oneself.
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2
Q

Hypernorm

A

A value that is fundamental

across culture and theory

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3
Q

Common Law Protections

(case law) - intrusion into seclusion

A

This legal violation occurs when someone intentionally intrudes on the private affairs of another when the intrusion would be “highly offensive to a reasonable person.” (invasion of privacy)

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4
Q

Skinner v. Railway Labor

Executives, Assn. (1989)

A

In this case it was found that drug testing is permitted by employers providing that it can be shown that the drug use poses a threat to public safety.

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5
Q

The penumbra of the law

A

a term used by Justice Oliver Wendell Holmes to identify those areas were an activity is lawful but in some way harmful or unfair.

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6
Q

Law

A

Those imposed on you

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7
Q

Corporate Governance

A

Those you as a manager will impose on others

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8
Q

Philosophy of Law

A

The ancient Greek philosophers often questioned the claim that statute laws really represent a society’s values

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9
Q

Plato

A

gave us what we now call Business Ethics as a part of his philosophy of law

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10
Q

The view of Socrates

in Plato’s Republic

A

Laws derive from man’s

innate sense of justice.

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11
Q

Moral Intellectualism

A

the view that morality is inherently rational and objective

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12
Q

Natural law theory

A

the view that eternal human values determine the laws of a society

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13
Q

The view of Thrasymachus

in Plato’s Republic

A

Laws are only what people in power want them to be

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14
Q

Voluntarism

A

the view that rulers create moral principles so their society can be controlled

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15
Q

Corporate Cronyism

A

This term captures the essence of the view of Thrasymachus

in Plato’s Republic

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16
Q

Rent Seeking

A

In this, businesses or professionals band together to have a state board created whose task is to restrict competition through discriminatory regulations

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17
Q

The 1943 Parker Case

A

Involved California Raisin growers Assn.

In this, the Supreme Court held that private parties acting in concert with state government are not constrained by Federal anti-trust laws.

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18
Q

Public-Private Partnerships.

A

In this, Corporations join with local Economic Development Authorities (EDAs) to force private individuals to sell them their land

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19
Q

Kelo v. City of New London

A

In this case the Supreme Court ruled that the general benefits a community enjoys (trans. greater good) from economic growth qualified private redevelopment plans as a permissible “public use” under the Takings Clause of the Fifth Amendment.

In this the Supreme Court ruled that a business, if in partnership with government, can use eminent domain; if it can be proved the outcome will raise the amount of collectible property taxes.

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20
Q

From Parker to Kelo

A

Private businesses increase their power by joining political & regulative power to their economic power while government entities increase their power by joining economic power to their political & regulative power

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21
Q

Ethos

A

The accepted norms

of one’s society

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22
Q

The etymological interpretation of ethics

A

to be ethical is to conform to the social traditions within one’s society.

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23
Q

Etymology

A

The study of word origins

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24
Q

Morality

A

The study of rules relating to interpersonal relationships

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25
Q

Moral Philosophy

A

A set of principles, virtues, and values governing social interactions which sustains accepted fundamental rights for all.

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26
Q

Moral Judgment

A

The process of deciding what is fair and not fair with respect to people you know.

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27
Q

Conformity expectations

A

These are governed by the unwritten rules of decorum and ethos.

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28
Q

Decorum

A

The willingness and ability to conform to the standards of hygiene, dress and behavior culturally expected for the situation at hand.

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29
Q

Organizational Culture

A

The set of informal shared values, norms, behavioral standards, and expectations that influence the ways in which individuals, teams, and groups interact to achieve company goals.

30
Q

Acceptance Dependency

A

a tendency to bow to peer pressure even when it goes against one’s better judgment

31
Q

Contract law

A

In this, two or more parties establish the rules by which they will interact with each other

32
Q

Contractual Inequality

A

In this, though both parties legally have equal rights, one is in some way disadvantaged.

33
Q

Implicit contracts

A

For businesses and professionals these are defined by conformity expectations and one’s organizational culture.

34
Q

Conflict of Interest

A

This takes place when one holds to two contractual obligations, either explicit or implicit, one to each of two competing parties.

35
Q

Material

A

As used in contract law, this term refers to important information necessary to one’s ability to make a proper decision

36
Q

Fair Contract

A

One where the contractor fully discloses all material information to the client

37
Q

Due Diligence

A

The doing of all one can

do to prevent harm

38
Q

Dunning

A

This process of methodically communicating with customers to ensure the collection of accounts receivable is considered to be unethical when it takes on the form of harassment.

39
Q

Anticipatory repudiation

A

a term in contract law that describes a declaration by the promising party (client) to a contract, that he or she does not intend to live up to his or her obligations under the contract if unforeseen circumstances arise

40
Q

efficient breach of contract

A

a voluntary breach with payment of damages by a party who concludes that they would incur greater economic loss by performing under the contract

41
Q

Contractor

A

Anyone who is bound by the

contract at hand.

42
Q

Scienter

A

One who holds esoteric knowledge in something

43
Q

Esoteric

A

Knowledge belonging only to the most educated in a given field

44
Q

compensatory

A

this reimburses a direct loss (financial or otherwise) to the victim.

45
Q

Consequential

A

often called special damages, this reimburses an indirect loss (financial or otherwise) to the victim

46
Q

nominal

A

this assesses a small amount against the defendant where a misrepresentation is not material, but a point needs to be made.

47
Q

Tort

A

a wrongful act, either intentional or unintentional, for which the courts might award compensatory damages

48
Q

Actionable

A

a term referring to those improper behaviors or acts that have crossed the line from something inappropriate to being a breach of contract,
a tort, or a crime

49
Q

Tortfeasor

A

A defendant in a tort (lawsuit)

50
Q

Intention

A

In this a business knowingly engages in conduct that causes physical harm, psychological harm, or loss of property.

51
Q

Punitive Damages

A

These are awarded when harm by a
professional or company is accompanied by
ethical misconduct

52
Q

Negligence

A

In this, a business causes harm through a failure in Due Care

53
Q

Due Care

A

Doing all one can do to prevent an accident, act of discrimination, or other harm

54
Q

Vicarious Liability

A

A legal concept that means a manager or business owner can be held personally responsible for injury or damage caused by an employee because managers are responsible for employee conduct in the workplace.

55
Q

Vicar

A

One who is representative of someone else. – A manager is representative of the business.

56
Q

Cyber Liability

A

A threat to employers created by the use of office computers by employees as a device to engage in activities harmful to others.

57
Q

Strict liability

A

an area of tort law carrying liability for compensatory damages where the linkage to harm done is based merely upon participation in a product’s supply chain.

58
Q

Pyramid scheme

A

This arrangement
has investors buy into a non-territorial franchise of some kind and then make their money by selling franchises to other investors.

In this investors know the game.

59
Q

Ponzi scheme

A

This arrangement
has investors buy into an investment pool, whose profits appear to come from the fund’s success but in fact come from come from the cash inputs of other investors.

In this investors don’t know the game.

60
Q

Statute Law

A

The formal laws of a

politically defined society

61
Q

De facto

A

Something that is actual, not by statute but by practical necessity or outcome.

62
Q

Common Law

A

De facto practices created by precedent torts (well known cases used by judges in their decision making) that have yet to be formalized as statute laws.

63
Q

At-will Employment

A

An employer’s common law right to terminate employment

64
Q

Implied contract exceptions

A

Oral statements or employee handbook statements stating that employment termination will be done according to principles of due process

65
Q

Public Policy Exceptions

A

With these, discharge is subject to state laws protecting employees circumstantially affected.

66
Q

Good faith and

fair dealing covenants

A

In this, employers must prove “just cause”* and the absence of self-interest

67
Q

international law

A

a collection of contractual arrangements between governments and businesses and between governments and governments.

68
Q

Disclosure

A

the FCPA Act required corporations to fully disclose any and all transactions conducted with foreign officials and politicians, in line with the SEC provisions.

69
Q

Prohibition

A

the FCPA Act incorporated the wording of the Bank Secrecy Act and the Mail Fraud Act to prohibit the movement of funds overseas for the express purpose of conducting a fraudulent scheme.

70
Q

Facilitation Payments

A

This politically correct term covers both legal and illegal contributions to politicians and bureaucrats in foreign countries to influence their purchasing decisions and their regulatory laws

71
Q

Passive Corruption

A

This is created by the reception of unsolicited gifts which could have the effect of bribery

72
Q

Active Corruption

A

This is created by the giving of solicited or unsolicited gifts with the intent to have the effect of bribery

Business Ethics (4 decks)

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