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BA 342 > Exam I > Flashcards

Exam I Flashcards

1
Q

What are the three components of the Smeal Honor Code?

A
  1. We will aspire to high ethical standards
  2. we will hold each other accountable
  3. we will not engage in any improper academic or professional actions

Today and tomorrow

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2
Q

What was the important takeaway from the spiderman clip shown in class?

A

“With great power comes great responsibility”

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3
Q

Ethics is in 4 major playing fields, what are they?

A 
PONG
Personal 
Organizational  
National 
Global
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4
Q

We talked about the Boeing 787 Dreamliner, what was the main takeaway?

A

You need to know that you can personally be responsible for the actions in the business world. How you run yourself in uniform is just as important as when you are a civilian

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5
Q

Why is Adam Smith important to Business Ethics?

A

Economist but also wrote “The Theory of Moral Sentiments” before his publishing of “The Wealth of Nations”

He talked about how free markets would work if everyone acted ethically and responsibly instead of greedily looking out for themselves

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6
Q

What information would you seek out if looking for Business Ethics Trends on the Fortune 1000?

A

The Ethics Resource Centers national business ethics survey - comes out every 2 years

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7
Q

ERC Data shows misconduct in the workplace….

A

has decreased since 2011 but 60% of misconduct come from management

Change the mindset of Dilbert video - “Management doesn’t have ethics training!!”

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8
Q

What were the 4 main statistics Ron John highlighted from the Business Resource Center?

A

Observed misconduct - down (good)
Reporting misconduct - down (bad)
Perceived pressure to commit misconduct - down (good)
Received retaliation from reporting misconduct - down (good)

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9
Q

Ron John showed us a graph from the Business Resource Center on Perceived Pressure to Commit Misconduct, what did is show?

A

Perceived pressure has gone down from 28% to 9% from 1994-2013

There was a spike during the financial crisis that has since decreased

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10
Q

According to the ERC what are the 5 most frequent observed types of misconduct?

A
  1. Abusive behavior (18%)
  2. Lying to employees (17%)
  3. Discrimination (12%)
  4. Internet misuse (12%)
  5. Conflict of interest (12%)
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11
Q

Ron John asked the question “Is there such a thing as right and wrong?” What was the big takeaway?

A

There are underlying principles we as humans can all see as right and wrong

DONT BE WISHY WASHY ON ETHICS - Lead with your values and never say “it depends”

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12
Q

Cultural Relativism

A

My values will change depending on where I am or where I live

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13
Q

Ethical Imperialism

A

My values will stick with me at all ways and at all times no matter where I am or who I am with

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14
Q

The Ethics definition we were given has 3 parts - what are they?

A
  1. Set of Principles
  2. Right Conduct
  3. Underlying Values

“A set of principles of right conduct based on underlying values”

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15
Q

What are the PSU values?

A 
P - penn state community
R - responsibility
R - respect
I - integrity 
D - discovery
E - excellence
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16
Q

What is the textbook definition of business ethics?

A

Behavior, actions, policies, and practices that take place within a business context that are concerned with morality and fairness

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17
Q

What is the individual ethical decision making process look like?

A
  1. Ethical awareness
  2. Ethical judgement
  3. Ethical behavior
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18
Q

We talked about ethics in college, what was the main takeaway?

A

We want to act ethically but also want to please other people

You need to have humility because the minute you say “I’ve got this” is the minute you have lost. You need to have an underlying base of ethics so when factors change you can make a solid decision

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19
Q

Ron John highlighted three characteristic of Millennials in the workplace, what are they?

A
  1. we report just as much
  2. we are more likely to experience retaliation
  3. we report to informal channels more than formal channels
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20
Q

What was the main takeaway from our discussion on moral disengagement in college?

A

70% of students say they have cheated - we know it’s wrong but it has become a norm… meaning we are morally disengaged when it comes to certain things like cheating

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21
Q

What are the three “worlds” of ethics?

A

Corporate
Personal
College

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22
Q

What is the most basic assumption we can make when talking about ethics?

A

Most people want to behave ethically in every situation but sometimes won’t due to outside influences

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23
Q

What is the main leadership competency taught in BA342?

A

Ethical decision making

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24
Q

What does EAP mean to Ron John?

A

Excellent performance
Academic Integrity
Professional Behavior

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25
Q

We discussed a case in which an employee is doing drugs on the job, what does Ron John say you should do?

A

Go to HR!! Do not confront the situation yourself

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26
Q

What is the takeaway from the section about the Ethics environment?

A

There’s a corporate and media dilemma that breeds unethical behavior

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27
Q

Who were the 3 key players in the Enron scandal of 2001?

A

Andy Fastow
Ken Lay
Jeff Skilling

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28
Q

What was the big issues in the Enron case?

A

Enron was perceived as a company held to high ethical standards but none of the higher ups were living by the company’s code of ethics

Always wanted to report high earnings at any cost, manipulated the whole energy market in California; grandma dying of heat stroke because energy cost too much

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29
Q

Who was the whistle blower in the Enron case and what other company went down because her spilling the secret?

A

Sharron Watkins

Arthur Anderson was part of the “Big 5” but was destroyed because they were the ones auditing Enron’s books

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30
Q

Ron John showed us the Blue Band hype video for 2015, what was the main takeaway?

A

“Values aren’t just words written on a page”

YOU NEED TO ACTUALLY LIVE BY THEM PEOPLE

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31
Q

What was the example given in class for the Environment of Ethics?

A

Martha Stewart insider trading with CEO friend

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32
Q

The Marist College Institute for public opinion shared what interesting information?

A

We would say we can be ethical in the workplace but we usually aren’t.

It also said we do not act the same ethically at work as we do at home

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33
Q

Media and Ethics

A

“If it bleeds, it leads.”

news, movies, tv, social media, etc. cling to the negative stories so it is all we hear about giving business a bad ethical rep

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34
Q

77% of TV shows involving business plots were….

A

Negative!

We are media’s favorite villain

35
Q

What are the three approaches to ethical decision making?

A
  1. Conventional Approach - societal norm
  2. Principles Approach - moral guidelines
  3. Ethical Tests Approach - applied guidelines
36
Q

Explain the conventional approach to ethical decision making

A

surveying society to see what the common norm is and that then becomes ethical

ex. cheating in school - 70% say they do

37
Q

The focus of descriptive ethics is ____________.

A

learning what is occurring in the realm of moral behaviors

38
Q

What were the good ways J&J handled the Tylenol incident?

A

They took responsibility early
They rebuilt their brand through installing safety measures
They changed their corporate culture
Showed leadership by pulling that much product off the shelves - first major recall

39
Q

The J&J Credo has a list of people who are most important to their business, what are they? (4)

A
  1. customers
  2. employees
  3. communities
  4. stockholders
40
Q

What are the two moral philosophy categories and what do they mean?

A

Teleological - look at consequences and results

Deontological - looks at your duties to society

41
Q

The Trolley problem illustrated what concept to us?

A

Principle Approach to decision making - morals??

Teleological and deontological

42
Q

What is the most important thing to remember about our talk on the sexual harassment case?

A

You are 100% involved as soon as someone tells you about a situation

You now need to take action!!

43
Q

What is the Golden Rule?

A

do unto others as you would have them do unto you -JESUS

44
Q

What is the most important ethical test?

A

Public disclosure - if everything was exposed right here, right now, would it bring bad attention??

45
Q

The Big Four - Ethical test

A
  1. Greed
  2. Speed
  3. Laziness
  4. Haziness
46
Q

What does the ACFE stand for?

A

Association of Certified Fraud Examiners

47
Q

What are the 3 sides to the ACFE Fraud Triangle?

A
  1. Opportunity
  2. Rationalization
  3. Motivation
48
Q

Which part of the Fraud Triangle CAN we control?

A

Opportunity - not giving people a reason to have to rationalize or motivate themselves to commit fraud

49
Q

Summarize the Fraud case we examined and link it to the fraud triangle

A

City comptroller, no checks and balances, stole TONS of tax payer dollars all at the cost of social programs, public safety, etc.

The city gave her an opportunity because she handled all of this money with no checks and balances set in place

50
Q

What is the FCPA?

A

Foreign Corrupt Practices Act
addressed US bribery to foreign officials to gain business/access to markets
set punishments: financial penalty, loss of government contract, individual incarceration

51
Q

Culture in Corporations does 4 things, what are they?

A

shapes attitudes
reinforces behavior
directs behavior
sets expectations

52
Q

What are some factors that influence employees to act unethical?

A 
behavior of supervisors
behavior of peers
industry ethical practices
societies moral climate
policy (or lack thereof) 
personal financial need
53
Q

We watched a video about implementing ethical culture, what was the main takeaway?

A

It’s easy to install an ethical problem but it’s hard to get a culture to permeate through a system and have the employees truly live by it

54
Q

Where are company rules located?

A

In the compliance document

55
Q

Where are the company ethics located?

A

In the code of conduct

56
Q

What are some components of organizational ethics?

A 
leadership
ethics officers
training
codes
audits
industry standards
communication
detection and prevention
compliance standards
57
Q

Behavioral ethics

A

how people actually behave in an organization as result of psychological processes or as a consequence of organization factors at work

58
Q

Bounded Ethically

A

you want to behave ethically but it’s hard due to the corporate climate around it

59
Q

Conformity bias

A

looking to others to guide your own ethics instead of looking within yourself

60
Q

Overconfidence bias

A

when you’re so sure of yourself that you forget to take a step back from the situation - irrational

61
Q

Def: Technology

A

all the ways people use inventions and discoveries to meet their wants and needs

62
Q

What are some key factors to remember from our talk about technology?

A
  1. tech is growing at an exponential rate
  2. knowledge era
  3. as we automate, reliance on humans becomes obsolete
  4. there’s growing globalization
  5. tons of quantity info but quality lacking
  6. you’re constantly surrounded by tech info every day
63
Q

Knowledge Era

A

Also known as big data era, 1990-now

64
Q

Technology pros and cons

A

increase g/s = decrease in natural resources
decrease labor = tech. unemployment
labor safer and easier = high pollution
increase standard of living = creating unsatisfactory jobs

65
Q

Technology has changed our way of thinking, how?

A 
we want quick fixes
fear/worship tech
blurred lines between real and fake
accepting violence as a norm
love tech like a toy 
we are distant and distracted
66
Q

What are the Big 5 stakeholders in a business?

A
  1. owners
  2. consumers
  3. employees
  4. government
  5. community
67
Q

The identity fraud report had 4 interesting statistics, what were they?

A

12.6 mill victims
1 of 4 data breach victims effected
1 of 40 children identities are stolen
$21 bill stolen from victims

68
Q

The Mobile Entertainment Form took a Global Privacy survey in 2013. What did it say about consumer comfortability with sharing info, how many people want to know where there info is going, and who feels the least in control of their privacy online?

A

37% comfortable sharing
70% want to know if mobile is haring their info
women and people 35+ feel the least in control of their privacy online

69
Q

Opt-in

A

positive

asking people if they’d like their info shared up front

70
Q

Opt-out

A

negative

taking the information and making the consumer go back and find and change what has already been done for them

71
Q

Corporations are concerned with two major group’s privacy, what are they?

A

Their employees and their customers

72
Q

CPO

A

Chief privacy officers - decides what info we should be collecting and storing or destroying
vs. CSO - security of the information which is being collected

73
Q

The Chief Privacy Officer of an organization should always _______ and _________ a policy.

A

Have and disclose

74
Q

Privacy under the Bill of Rights has 8 main components, name a few

A 
individual control
transparency
game plan for stolen personal info
respect for content
security 
access and accuracy 
focused collection
accountability
75
Q

Kaspersky said that there are two main tech. fields in which we need to watch more closely, what are they?

A
  1. mobile

2. cyber space

76
Q

Summarize the case of phantom expense

A

A new sales rep was doing business for the company and the older worker she was with said it was typical practice for the reps to give themselves as 25% padding on their expenses. The new rep said this wasn’t ethical and the old rep pleaded with her to do them like the rest of the reps did because it could turn into a problem and people could lose their jobs

77
Q

what is the theme for BA342?

A

Responsibility

78
Q

Def: responsibility

A

the ability or authority to act or decide on one’s own

79
Q

What is the license to operate a big corporation?

A 
Responsibility and ethics... managing these things
intangibles
consumers
risk mgmt
employees
investors
operations
80
Q

The 5 mega trends in responsible leadership are?

A
  1. new market and business case
  2. stakeholder wants and needs
  3. global crisis
  4. internet and transparency
  5. institutional responsibility
81
Q

Lord Michael Hastings video on corporate social responsibility: summary

A

connection between company goals and the individuals within the company
companies need to be involved with the wider world/make a difference

the right thing to do vs. the cost factor

82
Q

What are hyper norms?

A

Values applied across cultures that stay the same

ex. stealing a TV

83
Q

Society’s expectations for business ethics is _____________.

A

Increasing - want to see more from us

BA 342 (3 decks)

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