OBS Chapter 4

Question 1

Ethical dilemma

Answer 1

The quandary people find themselves in when they have to decide if they should act in a way that might help another person or group and is the right thing to do even though doing so might go against their own self-interest.

Question 2

Ethics

Answer 2

The inner guiding moral principles, values, beliefs that people use to analyze or interpret a situation and then decide what is the right or appropriate way to behave.

Question 3

Stakeholders

Answer 3

They supply a company with its productive resources; as a result, they have a claim on and a stake in the company.

Question 4

Utilitarian rule

Answer 4

An ethical decision is a decision that produces the greatest good for the greatest number of people.

Question 5

Moral right rule

Answer 5

An ethical decision is one that best maintains and protects the fundamental or inalienable rights and privileges of the people affected by it.

Question 6

Justice rule

Answer 6

An ethical decision distributes benefits and harms among people and groups in a fair, equitable, or impartial way.

Question 7

Practical rule

Answer 7

An ethical decision is one that a manager has no hesitation or reluctance about communicating to people outside the company because the typical person in a society would think it is acceptable.

Question 8

Trust

Answer 8

The willingness of one person or group to have faith or confidence in the goodwill of another person, even though this puts them at risk.

Question 9

Reputation

Answer 9

The esteem or high repute that people or organizations gain when they behave ethically, is an important asset.

Question 10

Social ethics

Answer 10

Standards that govern how members of a society should deal with one another in matters involving issues such as fairness, justice, poverty, and the rights of the individuals.

Question 11

Occupational ethics

Answer 11

Standards that govern how members of a profession, trade, or craft should conduct themselves when performing work-related activities.

Question 12

Individual ethics

Answer 12

Personal standards and values that determine how people view their responsibilities to other people and groups and, thus, how they should act in situations when their own self-interests are at stake.

Question 13

Organizational ethics

Answer 13

The guiding practices and beliefs through which a particular company and its managers view their responsibility toward their stakeholders.

Question 14

Social responsibility

Answer 14

The way its managers and employees view their duty or obligation to make decisions that protect, enhance, and promote the welfare and well-being of stakeholders and society as a whole.

Question 15

Obstructionist approach

Answer 15

Companies and their managers choose not to behave in a socially responsible way.

Question 16

Defensive approach

Answer 16

Indicates at least some commitment to ethical behavior. Companies and managers stay within the law and abide strictly by legal requirements but make no attempt to exercise social responsibility beyond what the la dictates.

Question 17

Accommodative approach

Answer 17

Acknowledges the need to support social responsibility. Companies and managers agree that organizational members ought to behave legally and ethically, and they try to balance the interest of different stakeholders so the claims of stockholders are seen in relation to the claims of other stakeholders.

Question 18

Proactive approach

Answer 18

Companies and managers actively embrace the need to behave in socially responsible ways.