unit 1

Question 1

A ____ ____ ____ is any situation in which a person - such as a public official, an employee, or a professional - has professional or personal interests that appear to influence the objective exercise of his or her professional judgement

Answer 1

conflict of interest

Question 2

A conflict of interest can create an ____ ____ ____ that should be avoided because it may undermine confidence in the ability of that person to act properly, and this may impact his or her reputation

Answer 2

appearance of impropriety

Question 3

Steps for analyzing ethical dilemmas and case studies

1. gather facts
2. list missing info and assumptions
3. list each stakeholder’s interests (concerns) in the dilemma
4. Generate list of alternatives
5. Evaluate resolutions for cost, legality, and impact (apply models)
6. Recommend and take action
7. Make changes to managerial practices to prevent recurrence

Question 4

____ ____: one ought only to act such that the principles of one’s act could become a universal law of human action in a world in which one would hope to live

Answer 4

categorical imperative

Question 5

____ ____ ____: above all do no harm. Peter Drucker. Part of the Hippocratic oath

Answer 5

primum non nocere

Question 6

Decision-Making Models

• Divine Command Theory
• Virtue Ethics

Question 7

____ ____ ____: resolution is based on religious values

Answer 7

divine command theory

Question 8

____ ____ means solving ethical dilemmas requires training and nurturing of virtues including caring, compassion, fairness, loyalty, integrity, etc.

Answer 8

virtue ethics

Question 9

____ ____ uses 12 questions to evaluate ethics, starting with “Have I defined the problem properly?”

Answer 9

Laura Nash

Question 10

____ ____ ____ asks three questions:

1. Is it legal?
2. Is it balanced?
3. How does it make me feel?

Answer 10

Blanchard and Peale

Question 11

The ____ test: envision how actions appear in the outside world. Warren Buffett. Assume that nothing remains secret

Answer 11

Newspaper

Question 12

The ____ ____ ____ Model:

1. Compliance with law
2. Contribution to community
3. LT and ST consequences of the decision

Answer 12

Wall Street Journal

Question 13

____ is looking for the greatest happiness and good for the greatest number of people

Answer 13

utilitarianism

Question 14

Behavioral Issues

• re-labeling
• rationalizing

Question 15

_____ our conduct means to use a different “warm” label for our actions

Ex. “peer-to-peer file sharing” vs. “copyright infringement”

Answer 15

re-labeling

Question 16

____:

• “Everybody else does it.”
• “It doesn’t really hurt anyone.”
• “If we don’t so it, someone else will.”
• “It is a gray area.”
• “The system is unfair.”
• “I was just following orders.”
• “That’s the way it has always been done.”

Answer 16

rationalizing

Question 17

Schools of Social Responsibility

• inherence
• enlightened self-interest
• invisible hand
• social responsibility

Question 18

____ serves shareholders best by only looking out for shareholders

Answer 18

inherence

Question 19

____ ____-____ is when the manager is responsible to shareholders and serves them best by being responsive to society

Answer 19

enlightened self-interest

Question 20

____ ____ is when a business ought to serve larger society and it does so best when serving shareholders only

Answer 20

invisible hand

Question 21

____ ____ is when the role of business is to serve larger society and that is best accomplished by being responsive to larger society

Answer 21

social responsibility

Question 22

The corporation should serve shareholders by being responsible to shareholders

____

Answer 22

inherence

Question 23

The corporation should serve society by being responsible to shareholders

____

Answer 23

invisible hand

Question 24

The corporation should serve shareholders by being responsible to society

____

Answer 24

enlightened self-interest

Question 25

The corporation should serve society by being responsible to society

____

Answer 25

social responsibility

Question 26

Sources of Law

a.) Constitutions (Federal and State)
b.) Statutory law at the federal level
c.) Statutory law at the state level
d.) local laws of cities, counties, and towns
e.) Common Law
- Court decisions - provides interpretation or clarification of the law stare decisis
- Custom

Question 27

United States Constitution: ____ Amendment - Equal Protection

Answer 27

14th

Question 28

Title ____ of the Civil Rights Act of 1964 prevents discrimination of sex, race, religion, etc

Answer 28

VII

Question 29

The ____ laws prohibit the use, sale, possession, etc. of illegal drugs including marijuana

Answer 29

federal

Question 30

Federal District Court
1. ___ ___ is a party
2. ___ ___ - arising under federal law
3. ____ ____ ____
a. plaintiff and defendent are from different states
b. claim exceeds $75,000
c. federal courts apply state law

Answer 30

United States
Federal Question
Diversity of Citizenship

Question 31

____ ____ means that courts will follow the legal principle from previous decisions from consistency unless
a. cases are factually distinguishable
b. precedent is from another jurisdiction
c.

Answer 31

stare decisis

Question 32

Trial Process
- summons and complains
- answer
- motions
- discovery
- jury selection
- verdict
- appeals

Question 33

Burden of Proof
- Legal remedies
- civil - preponderance
- criminal - beyond a reasonable doubt
- Equitable remedies (civil) - clear and convincing evidence
- injunctions
- rescission
- specific performance

Question 34

Appeals
- file within 30 days of verdict
- post bond
- party demonstrates to the appeals court that the trial court did not properly follow procedures or misapplied the law
- possible actions of reviewing panel:
a. affirm
b.

Question 35

Types of ADR
1. Arbitration
2. Mediation
3. Medarb

Question 36

____: judicial or contractual

Answer 36

arbitration

Question 37

____: neutral facilitator

Answer 37

mediation

Question 38

____: starts as mediation and if the dispute is not resolved

Answer 38

medarb