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Business Ethics > Midterm > Flashcards

Midterm Flashcards

1
Q

A set of strict guidelines for maintaining ethics in the workplace

A

Code of Ethics

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2
Q

It is used by any business to operate legally and humanely for it to be successful.

A

Code of Ethics

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3
Q

How is a code of ethics used?

A
  • It is used by any business to operate legally and humanely for it to be successful.
  • Most businesses policies themselves by distributing codes of ethics.
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4
Q

Steps in writing code of ethics

A
  1. Review your mission statement and core values.
  2. Talk to stakeholders.
  3. Review past ethical issues.
  4. See where other companies have faltered.
  5. Create a draft code for input and discussion.
  6. Create a final draft and share it.
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5
Q

The goal of a code of ethics is to help employees make decisions that are in line with what the company or organization values.

A
  1. Review your mission statement and core values.
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6
Q

What is the goal of a code of ethics?

A

to help employees make decisions that are in line with what the company or organization values.

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7
Q

This should be distilled into your mission statement and core values, so it’s a good place to start.

A
  1. Review your mission statement and core values.
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8
Q

describes the organization’s purpose and its overall intention.

A

Mission Statement

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9
Q

looks forward and creates a mental image of the ideal state that the organization wishes to achieve.

A

Vision Statement

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10
Q

lists the core principles that guide and direct the organization and its culture.

A

Values Statement

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11
Q

How does the code of ethics put the values statement into practice?

A

by outlining the procedures in place to ensure the organization’s values are upheld.

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12
Q

What management, employees, and clients think are the most important values of the company to uphold.

A
  1. Talk to stakeholders.
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13
Q

What are the most important values a company should uphold?

A

What management, employees, and clients think

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14
Q

Get input from everyone involved to be sure your code reflects what the company stands for.

A
  1. Talk to stakeholders.
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15
Q

problems, situations, or opportunities requiring an individual to choose among actions that may be evaluated as right or wrong ethical or unethical

A
  1. Review past ethical issues
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16
Q

What are ethical issues?

A

Problems, situations, or opportunities requiring an individual to choose among actions that may be evaluated as right or wrong ethical or unethical

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17
Q

Ethical issues arise because of?

A
  • Conflict among personal or organizational values
  • conflict with societal values
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18
Q

Check if other companies in your industry had recent ethical failures.

A
  1. See where other companies have faltered.
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19
Q

Avoid the same pitfalls by covering these issues in your code.

A
  1. See where other companies have faltered.
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20
Q

Give everyone a chance to help decide on the contents of the code of ethics by inviting them to discuss and give input on a draft.

A
  1. Create a draft code for input and discussion.
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21
Q

Once you’ve got a final draft approved, share it throughout the organization.

A
  1. Create a final draft and share it.
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22
Q

Also, make sure that a copy of it is added to your employee handbook.

A
  1. Create a final draft and share it.
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23
Q

a document that communicates your company’s mission, policies and expectations.

A

Employee Handbook

24
Q

employers give this to employees to clarify their rights and responsibilities while they’re employed with the company.

A

Employee Handbook

25
Q

How is a code of ethics important?

A

helps employees or organization members make decisions that are in line with company values in the absence of a clear rule or direct supervision.

26
Q

What can the code of ethics improve?

A

decision making at a business, and make it easier for employees to be autonomous.

27
Q

Who are the Classical Philosophers that had great implications on business and are the foundations of the principles of business ethics?

A

Socrates
Plato
Aristotle
Confucius
Plutarch
Epicurus
Immanuel Kant

28
Q

Dare to Disagree

A

Socrates

29
Q

What is Socrate known for?

A

“Dare to Disagree”
or
“Have the courage to disagree.”

30
Q

He said that a good business leader never pretends to know more than they do and isn’t afraid to utter the words, “I don’t know.”

A

Socrates

31
Q

Quality Content

A

Plato

32
Q

His prime belief was that a person must study themselves in order to find out their level of character.

A

Plato

33
Q

In business, it is constantly vital to know the qualities and shortcomings of everybody.

A

Plato

34
Q

Quality over quantity wins every time – as true now as it was in 300 BC.

A

Plato

35
Q

“Better a little which is well done, than a great deal imperfectly.”

A

Plato

36
Q

“let people seek fulfillment”

A

Aristotle

37
Q

He was the most practical and business oriented of all philosophers.

A

Aristotle

38
Q

For Aristotle, In business, the association must give a condition that is ______________________________?

A

conducive to human development and satisfaction.

39
Q

“positive interpersonal relations”

A

Confucius

40
Q

What was Confucius golden rule?

A

“do not do unto others what you do not want others do unto you”

41
Q

What was Confucius’ famous classic philosophy?

A

“live a contented, moral and happy life.”

42
Q

His values were applicable to positive interpersonal relations in business practice and in the workplace, in regards to successful human resource management in particular.

A

Confucius

43
Q

“Be a good role model”

A

Plutarch

44
Q

He understood that humans are incredibly social creatures, who constantly observe the people around them and imitate them.

A

Plutarch

45
Q

what you say to your employees is less important than what you do.

They will watch how you behave, how you treat others, how you cope with pressure and whether you follow through on your promises. And they will imitate you.

A

Plutarch

46
Q

“The art of happiness”

A

Epicurus

47
Q

a fourth century Greek philosopher who taught, rather scandalously, that the aim of life was simply to be as happy as possible here on Earth.

A

Epicurus

48
Q

He warned that humans are very bad at being happy, and very good at inventing reasons to be miserable.

A

Epicurus

49
Q

Today, some companies are embracing his philosophy, and trying to teach their employees the art of happiness.

A

Epicurus

50
Q

Deontology

A

Immanuel Kant

51
Q

One of the most influential philosophers in the history of Western philosophy.

A

Immanuel Kant

52
Q

the theory of duty and obligation.

A

deontology
or
deontological ethics

53
Q

states that people should adhere to their obligations and duties when engaged in decision making when ethics are in play.

A

deontological class of ethical theories

54
Q

In business, each member of the organization stands in a moral relationship to all the others.

A

Immanuel Kant

55
Q

On one hand, the managers of a business firm should respect the humanity in all the persons in and outside the organization.

A

Immanuel Kant

Business Ethics (5 decks)

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