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COMM 104 ETHICS > Exam Shiet > Flashcards

Exam Shiet Flashcards

1
Q

Rushworth Kidder’s Shared Values

A

Honesty, Respect, Responsibility, Fairness, Compassion

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2
Q

Martin Seligman’s Common Virtues

A

Wisdom, Courage, Humanity, Justice, Temperance, Transcendence

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3
Q

The “Don’t Be Evil” Generation

A

Millennials that place a high value on doing work that aligns with their personal values

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4
Q

The Demand for Leaders at All Levels

A
  • Driving an increased need in organizations to develop and equip leaders at all levels
  • An essential skill required by young leaders are to know their values and give voices to them
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5
Q

Normalizing

A

This kind of conflict is just part of doing the job

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6
Q

The “Iron Law” of Social Responsibility

A

In a free society, discretionary abuse of societal responsibilities leads, eventually, to mandated solutions.

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7
Q

CSR Growing as Important Issue to Organizations

A

Pressure from consumers seeking more responsible choices and constraints of ever dwindling natural resources

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8
Q

Criticisms of CSR

A

• Companies assume government’s responsibilities
• Poses challenges for companies
o Must earn profit while addressing CSR in a meaningful way
o Must integrate social and environmental factors into decisions
• Firms engage in CSR “window dressing”

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9
Q

Impact Investing

A
  • Form of socially-responsible investing
  • Serves as a guide for various investment strategies
  • Tends to have roots in either social or environmental issues
  • Avoid investments causing negative impacts (tobacco, alcohol)
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10
Q

Blended Value

A

An emerging conceptual framework, where investments are evaluated based on their ability to generate a blend of financial, social, and environmental value.

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11
Q

Benefit Corporation (B-Corp)

A
  • Type of for-profit corporate entity
  • Includes positive impact on society/environment in addition to profit as its legally defined goals
  • Differs from traditional corporations in purpose, accountability and transparency but not taxation
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12
Q

Impact Reporting and Investment Standards (IRIS)

A

Allows investors to compare data across sectors, regions and organizational sizes.

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13
Q

Social Return on Investment (SROI)

A

Measurement framework used to monetize the social value created by social or environmental initiatives.

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14
Q

Environmental, Social and Governance (ESG)

A

Associated with the practice of responsible investing among large institutional investors.

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15
Q

Demonstrating Value

A

Measurement tool targeted toward social ventures, that combines business performance monitoring with social impact evaluation.

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16
Q

Evaluative SROI

A

Are conducted retrospectively and are based on outcomes that have already taken place

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17
Q

Forecast SROI

A

Predict how much social value will be created if the activities meet their intended outcomes.

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18
Q

Donahue’s View on Being and Ethical Leader

A
  • Respect Others
  • Serves Others
  • Shows Justice
  • Manifests Honesty
  • Builds Community
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19
Q

Moral Manager Direct Followers’ Behaviour By

A

• Role Modelling:
o Visible ethical action
• Rewards/discipline:
o Holds people accountable (and rewards ethical behaviour)
• Communicating:
o Actively conveys the ethics/values message

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20
Q

Dimensions of Ethical Leadership

A 
•	Traits:
o	Honesty, integrity, trust
•	Behaviours:
o	Openness, concern for people, personal morality
•	Decision Making:
o	Values-based, fair
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21
Q

Organizational Culture

A

Deeply rooted, unseen values/beliefs/assumptions about how an organization operates

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22
Q

Organizational Climate

A

Employees’ perceptions of work procedures, policies, and practices

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23
Q

Key Ethical Climate Types

A
  • Caring
  • Law and Code
  • Rules
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24
Q

Caring Climate

A

o Caring and benevolent orientation

o Take well-being of employees, stakeholders into consideration

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25
Q

Law and Code Climate

A

o Support decision-making based on principles from external sources: law, religious texts, codes of professional conduct

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26
Q

Rules Climate

A

ompany focusses on adherence to rules and regulations when making ethical decisions

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27
Q

Routine Decisions

A
  • Respond to a situation with minimal thought

* Decisions stay consistent

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28
Q

Non-routine Decisions

A

• Analyses that require more thought

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29
Q

Creating an Ethical Culture

A
  • Provide ethics training, dialogue, and ethical leadership

* Question current practices

30
Q

Individuals Characteristics That Influence Decision Making

A
  • Personal values
  • Level of moral development
  • And locus of control
31
Q

Child Moral Development

A

o Decision based on self-interest, external rewards, and punishment

32
Q

Mature to 2nd Level Development

A

o Consideration of others’ expectations and attempt to reach them

33
Q

More Mature Stage of 2nd Level Development

A

o Consideration of what society or stakeholders deem acceptable

34
Q

3rd Level Moral Development

A

o Decisions based on upholding basic rights or principles – justice, ideals for organizational cooperation, the common good

35
Q

Locus of Control

A
  • The extent to which one feels control over life events
  • People with a high internal locus of control may be more likely to behave ethically
  • Those with low locus of control likely to blame fate, luck, or influence of others, won’t take responsibility for consequence of own actions
36
Q

Factors that Influence Decision Making

A
  • Contextual Factors
  • Organizational Culture
  • Rewards
37
Q

Contextual Factors:

A

o Also influence decision making, most influential are organizational culture and rewards.

38
Q

Organizational Culture:

A

o Includes not only current practices and policies, but also beliefs, values, and assumptions that influence daily conduct

39
Q

Rewards:

A

o Such as bonuses or a pat on the back, show what is valued in the organization and may influence ethical behaviour

40
Q

Raising Ethical Issues Efficiently

A
  • Timing and attitude
  • Do not be confrontational
  • State concerns briefly and clearly in a way the person can relate
  • Comment about how situation could be detrimental to firm
41
Q

Rotary Four-Way Test

A
  • Is it the truth?
  • Is it fair to all concerned?
  • Will it build goodwill and better friendships?
  • Will it be beneficial to all concerned?
42
Q

Strategic Success

A
  • What it does differently for profit

* What it does differently to win new customers

43
Q

Classic Economic Model:

A

o Strategies that solve problems but leave externalities: social costs firms create but don’t have to pay for

44
Q

Economic Rationalist Model:

A

o Multiple goals set for the sake of economic self-interest

o Ethics has a role but only if it pays

45
Q

Corporate Citizen Model:

A

o Ethical and strategic elements of a business decision are indistinct
o Managers are both agent of firms and responsible society members

46
Q

Strategist as Activist Model:

A

Profit maximization isn’t the goal, but there is potential for profits

47
Q

Problems with CSR: Porter and Kramer

A

CSR makes companies think about issues in generic ways by presenting ethical issues as “social,” not “strategic”

48
Q

Value Creation Model – Porter and Kramer

A
  • Fifth or hybrid model of strategic choice
  • Rejects the profit maximization models whose focus is narrowly economic
  • Sees societal value creation as integral to strategic management
  • Accepts profitability as core in value-creation
  • Rejects the idea of CSR as an “add on”
49
Q

Porter and Kramer Strategic View

A 
•	Traditional Justification for CSR:
o	Moral Obligation
o	Sustainability
o	License to Operate
o	Reputation
50
Q

Laszlo and Zhexembayeva – Embedding Sustainability

A
  • Need to embed sustainability into the core of your business strategy
  • Invest in it to such an extent that it can transition from incremental to deeper change
  • Embed in existing business priorities, making company stronger, rather than new side project
51
Q

David Cooperrider – Appreciative Enquiry

A
  • Used to think analysis come first, then recommendations , then decisions
  • Inquiry is agenda setting, language shaping, effect creating, and knowledge generating
  • Inquiry is embedded in everything we do as managers, leaders, and agents of change
52
Q

Appreciative Inquiry – 4D Cycle

A
  • Discovery
  • Dream
  • Design
  • Deployment
53
Q

Defensive Reasoning

A

o Self-protective, ego-defence mechanism that blocks learning and knowledge creation

54
Q

Expected or Standard Practice

A

o Everyone does this, so it’s really standard practice. It’s even expected

55
Q

Materiality

A

o The impact of this action is not material. IT doesn’t really hurt anyone.

56
Q

Locus of Responsibility

A

o This is not my responsibility; I’m just following orders here.

57
Q

Locus of Loyalty

A

o I know this isn’t quite fair to the customer but I don’t want to hurt my reports/team/boss/company.

58
Q

Errors

A

Unintentional misstatement. Statements must be reissued with correct information; no laws are violated.

59
Q

Fraud

A

Intentional misrepresentation. Statements must be reissued with correct information; organization/executives may be prosecuted.

60
Q

How can stakeholders know that the organization’s financial statements are not fraudulent?

A
  • A board of directors and an audit committee can oversee the process of producing accurate financial statements.
  • Publicly held organizations can issue audited financial statements
  • Financial statements can be examined by regulatory agencies such as the Ontario Securities Commission.
61
Q

Fraud Triangle

A
  • Opportunity
  • Motive
  • Attitude/Rationalization
62
Q

Rationalization

A
  • Shifting Blame: Everyone does it
  • Pleading Ignorance: I don’t see that I’m hurting anyone
  • Moral Justification: I’m protecting the company/my family
  • Advantageous Comparison: This is nothing compared to…
  • Letting the Victim Take the Fall: They had it coming
  • Euphemistic Labelling: I am trying to level the playing field
63
Q

Role of Board of Directors

A
  • Shareholders’ agent, fiduciary responsibility
  • Hire and evaluate management
  • Approve major operating proposals
  • Approval major financial decisions
64
Q

Corporate Governance

A

The controls put in place to ensure that a corporation acts in an ethical, legal, and transparent manner in the best interest of its shareholders.

65
Q

Problems with Board of Director Model

A
  • Management generally knows better than shareholder/owners who would make a good corporate director
  • While should not be, managers end up being selected by management
  • Creates conflict of interest: power to select directors effectively shifted to executives
66
Q

Seven Disciplines of Governance Excellence

A
  • Reflect: on organizational results
  • Respect: owner expectations
  • Select: your prominent leadership
  • Direct and Protect: organizational performance
  • Expect: great board-management interaction
  • Connect: for healthy board relations
67
Q

Criticisms of Marketing

A

• Misleading advertising hurts consumers
o Advertising to vulnerable – impact on self-worth; heightened value of physical features, particularly for women, elderly get fleeced
• Society more materialistic
o Creates demand for unnecessary and ultimately harmful products – bottled water, coffee pods?

68
Q

Normalizing: The Handling of Values Conflicts

A
  • This kind of conflict is just part of doing the job
  • I will face values conflicts
  • I am prepared for this, having considered most common situations
69
Q

Intellectual Property (IP) Rights

A
  • Locke: Rights protection for inventors for what they’ve created because of the creativity/work involved, just like property
  • Utilitarian: without protection for IP, inventors less likely to create since they can’t reap rewards.
  • Result: Patent and copyright laws to protect product of human mind for varying periods of time
70
Q

Information Technology

A
  • Essential to business activity
  • IT’s ability to store mass amounts of personal information, and the extent to which the information can be exploited, provides an incentive for theft
  • Computers and data warehousing allow information to be accessed by people within an organization and by people who never enter the premises.
71
Q

Privacy as an Ethical Concept (UTILITARIAN)

A

o Consider both harms and benefits of collecting personal information
o Collecting personal information could provide benefit to a wide range of people, exceeding negative outcomes.

72
Q

Privacy as an Ethical Concept (KANTIAN)

A

o Individuals should not be used for selfish ends
o Cynical Argument: Collecting information in order to earn a profit goes against Kantianism
o Counterargument: If such information is provided freely, and with knowledge of the collector’s ultimate intention, personal autonomy is respected.

COMM 104 ETHICS (2 decks)

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