Management-Chapter 5

Question 1

Ethics

Answer 1

The code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong.

Question 2

Ethical Dilemma

Answer 2

A solution in which all alternative choices or behaviors have potentially negative consequences. Right or wrong cannot be clearly distinguished.

Question 3

Utilitarian Approach

Answer 3

The approach to ethical decision making says that the ethical choice is the one that produces the greatest good for the greatest number.

Question 4

Individualism Approach

Answer 4

The approach that suggests that actions are ethical when they promote the individual’s best long-term interests, because with everyone pursuing self-interest, the greater good is ultimately served.

Question 5

Moral Rights Approach

Answer 5

Holds that ethical Decisions are those that best maintain the fundamental rights of the people affected by them.

Question 6

Justice Approach

Answer 6

Ethical Decisions must be based on standards of equity, fairness and impartiality.

Question 7

Distributive Justice

Answer 7

Requires that different treatment of individuals not be based on arbitrary characteristics.

Question 8

Procedural Justice

Answer 8

Holds that rules should be clearly stated and consistently and impartially enforced.

Question 9

Compensatory Justice

Answer 9

argues that individuals should be compensated for the cost of their injuries by the party responsible, and individuals should not be held responsible for matters over which they had no control.

Question 10

Virtue Ethics Approach

Answer 10

Says that moral behavior stems from personal virtues.

Question 11

Practical Approach

Answer 11

Sidesteps debates about what is right, good or just and bases decisions on prevailing standards of the profession and the larger society, taking the interest of all stakeholders into account.

Question 12

Corporate Responsibility

Answer 12

Refers to the obligation of organizational managers to make choices and take actions that will enhance the welfare and interest of society as well as the organization.

Question 13

Stakeholder

Answer 13

Refers to any group within or outside the organization that has a stake in the organization’s performance.

Question 14

Sustainability

Answer 14

Refers to economic development that generates wealth and meets the needs of the current population while preserving the environment for the needs of future generations.

Question 15

Discretionary Responsibility

Answer 15

Purely voluntary and is guided by the organization’s desire to make social contributions not mandated by economics, laws and ethics.

Question 16

Code of Ethics

Answer 16

A formal statement of the organization’s values regarding ethics and social issues.

Question 17

Ethics Committee

Answer 17

A group of executives charged with overseeing company ethics by ruling on questionable issues and disciplining.

Question 18

Chief Ethics Officer

Answer 18

A manager who oversees all aspects of ethics and legal compliance.

Question 19

Ethics Training

Answer 19

Used to help employees deal with ethical questions and translate the values stated in a code of ethics into everyday behavior.

Question 20

Whistle-Blowing

Answer 20

The disclosure by employees of unethical, illegitimate or illegal practices by the organization.