mgt 340 midterm Flashcards
Morals
A person’s personal philosophies about what is right or wrong
Principles
Specific and pervasive boundaries for behavior that should not be violated
Values
enduring beliefs and ideals that are socially enforced
ethics
behavior or decisions made withing a groups values or morals
workplace integrity
the pressure to compromise organizational standards, observed misconduct, reporting of misconduct when observed, and retaliation against reports.
moral dilemma
two or more morals in conflict with one another
value dilemma
two or more beliefs/ideals in conflict with one another
consumers bill of rights
from President John F. Kennedy’s 1962 special message on protecting the consumer interest that outlined four basic consumer rights. The right to safety, the right to be informed, the right to choose, and the right to be heard
corporate social responsibility (CSR)
an organizations obligation to maximize its positive impacts on stakeholders and minimize its negative impact
Federal sentencing Guidelines for organizations (FSGO)
Guidelines that codified into law incentives to reward organizations for taking action to prevent misconduct, such as developing effective internal legal and ethical compliance programs
Sarbanes Oxley act
The most far-reaching change in organizational control and accounting regulations since the Securities and Exchange Act of 1934 which made securities fraud a criminal offense and stiffened penalties for corporate fraud
dodd-frank wall street reform and consumer protection act
legislation that addressed some of the issues related to the financial crisis and recession and designed to make the financial services industry more ethical and responsible
environmental social governance (ESG)
A framework for evaluation of firm performance in the areas of environmental, social, and governance
ethical culture
acceptable behavior as defined by the company and industry, reflects the integrity of decisions made and is a function of many factors, including corporate policies, top managements leadership on ethical issues, the influence of coworkers, and the opportunity for unethical behavior
kyoto protocol
an international treaty meant to curb global greenhouse gas emissions by having countries voluntarily reduce national outputs
environmental protection agency (epa)
the most influential regulatory agency that deals with environmental issues and enforces environmental legislation in the united states
Leadership in energy and enviromental design (LEED)
a certification program that recognizes sustainable building practices and strategies
moral philosophy
the specific principles or values people use to decide what is right or wrong
economic freedom
a concept based on self-ownership the right to choose voluntary exchange open markets and clearly defined and enforced property rights.
economic value orientation
associated with values quantified by monetary means; according to this theory if an act produces more economic value for its efforts, then it should be accepted as ethical
idealism
a moral philosophy that places special value on ideas and ideals as products of the mind
realism
the view that an external world exists independent of our perceptions
monists
believe only one thing is intrinsically good
hedonism
the idea that pleasure is the ultimate good, or the best moral end involves the greatest balance of pleasure over pain
quantitative hedonists
those who believe more pleasure is better
qualitative hedonists
those who believe it is possible to get too much of a good thing
pluralists
often referred to as non hedonists take the opposite position that no one thing is intrinsically good
teleology
refer to moral philosophies in which an act is considered morally right or acceptable if it produces some desired result such as pleasure knowledge career growth the realization of self-interest utility wealth or even fame
consequentialism
teleological philosophies that asses the moral worth of a behavior by looking at its consequences
utilitarianism
seeks the greatest good for the greatest number of people
rule Unitarianism
argue that general rules should be followed to decide which action is best
act utilitarian
the rightness of each individual action must be evaluated to determine whether it produces the greatest utility for the greatest number of people
deontology
refers to moral philosophies that focus on the rights of individuals and the intentions associated with a particular behavior rather than its consequences
nonconsequentialism
regard for certain behaviors as inherently right, and the determination of this rightness focuses on the individual actor not on society
rule deontologist
conformity to general moral principles based on logic determines ethicalness
act deontologist
hold that actions are the proper basis to judge morality on ethicalness
Kohlberg’s model of cognitive moral development (CMD)
theory in which people make different decisions in similar ethical situations because they are in different moral development stage
stakeholder interaction model
this approach recognizes other stakeholders and explicitly acknowledges that dialogue exists between a firm’s internal and external environment
stakeholder orientation
the degree to which a firm understands and addresses stakeholder demand
corporate citizenship
the extent to which businesses strategically meet the economic, legal, ethical, and philanthropic responsibilities places on them by various stakeholders
duty of care
the legal obligation of an individual or organization to make informed and prudent decisions and avoid behavior that could cause harm to others
duty of loyalty
the obligation of individuals to make decisions that are in the best interest of the corporation and its stakeholders
shareholder model of corporate governance
founded in classic economic precepts including the goal of maximizing wealth for investors and owners. A broader view of the purpose of business that considers stakeholder welfare in tandem with corporate needs and interests
interlocking directorate
the concept of board member being linked to more than one company
technology disruption
when innovation replaces existing systems and habits. EX: smart buildings, personal apparel, digital wallets, and other IoT devices.
predictive analysis
using values or algorithms to provide data-backed decisions options
big data
large volumes of structured and unstructured data that need to be transmitted at very high speeds. can be analyzed to discover information about the behavior, habits, and even the attitudes of people. EX: consumer shopping habits, social media activity, web browsing history, and more.
roboethics
concerns the design and implementation of a code of conduct that must be programmed into the A.I. of a robot
general data protection regulation (GDPR)
European union law on data protection and data privacy
intellectual property
intangible ideas and creative materials
digital divide
the varying levels of access to technology across social, geographical, and geopolitical groups
bioethics
the ethical application and implication of ethics in medicine, healthcare, and biotechnology and the environment
biotechnology
the exploitation of biological processes for industrial and other purpose, especially the genetic manipulation of microorganisms to produce antibiotics hormones and other items
technology assessment
a procedure that helps organizations evaluate the possible effects that new processes systems and products will have on business operations and stakeholders
