Unit 2 - Module 1 & 2: Ethics Flashcards
When the law and personal or organizational ethics are in accordance with each other..
Legal-ethical
Dilemma in which established laws are not in accordance or do not uphold the ethical choice
Legal-unethical
Dilemma in which the ethical choice would be in violation of established laws.
Illegal-ethical
Illegal-ethical conflict in which U.S. government officials leaked top secret papers to inform the public about government actions during the Vietnam War
Pentagon Papers Case
The organizational code of ethics that governs responsible and respectful behavior at WGU
WGU Code of Student Ethics
Philosophy in which a company voluntarily engages in actions that benefit society at large.
Corporate Social Responsibility
Institution that functions to govern global trade by overseeing trade agreements between nations.
World Trade Organization (WTO)
What is the strategic value of CSR?
To increase profits and trust in the long-term while promoting positive community relations.
Establishes an organizations key values and descibes the company’s obilgation to its stakeholders.
Code of Ethics
When a company’s ethical statements run contrary to actual practices.
Greenwashing
The ability of all individuals in an organization to exist in a system of openness, communication, and accountability
Internal Transparency
Law that mandates reporting transparency in finance / accounting to supply chain activities. Makes it unethical and illegal to deceive shareholders, creditors, and the public at large.
Sarbanes-Oxley Act (SOX)
Those who tell the public or the authorities about alleged misconduct in a government department, private company, or organization
Whistleblowers
What does GAAP stand for?
Generally Accepted Accounting Practices
A large manufacturer of ice cream products has a core value of “making the world a better place.” However, it was discovered that the manufacturer sourced their main raw ingredient from a company that used practices considered detrimental to the well-being of animals.
Which situation is occurring with this discrepancy?
Greenwashing
The top management of a publicly traded company has been cited for violation of the transparency standards with respect to their financial and accounting reporting practices.
Which law has this company violated?
Sarbanes-Oxley Act (SOX)
A group of employees discovered alleged misconduct by senior managers of their company and leaked information about the situation to the press and general public.
What is term for this group of employees?
Whistleblowers
The top management of a company implemented a policy in which all employees can attend the board meetings so they can be present when important decisions are made.
Which practice is being followed by this company?
Internal Transparency
