Week 2 Slides Flashcards

1
Q

What are business ethics

A

Moral values
Rights and wrongs in business environment
Balance of what’s right and what’s profitable

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2
Q

What is the contemporary ethical environment

A

Most businesses are ethical now

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3
Q

What is the business approach to ethics and social responsibility

A

Engage in philanthropy (charity)
Manage risks
Find opportunities to make value
“Giving back to community”

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4
Q

How do individuals make a difference

A

Putting own interests ahead of business
Lying to other employees
Violating safety regulations

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5
Q

How do individuals ethics develop

A

Through factors such as
Experiences
Family
Education
Culture

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6
Q

How do organizations shape ethical conduct

A

Ethical Leadership
Ethical Action
Ethical Education
Ethical Awareness

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7
Q

What is ethical awareness

A

Code of conduct
-General statement by company on how to approach ethical issues

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8
Q

What is ethical education

A

Code of conduct can’t solve every issue
-So company should provide training in ethical field

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9
Q

What is ethical action

A

Helping employees recognize/solve ethical problems through actions

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10
Q

What is ethical leadership

A

Executives must demonstrate ethical behavior in their actions
-Use clear language
-Promote actions to create ethical value
-Practice moral absolutism
(doing the right thing even if it makes less money)

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11
Q

What is social responsibility

A

To care about profit management, consumer satisfaction
Contributions to economy, job opportunities, and charitable contributions

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12
Q

What is an example of a company being socially responsible

A

Starbucks reduced its environmental impact

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13
Q

What is green marketing

A

A marketing strategy that promotes environmentally safe products and production methods

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14
Q

What is responsibility to customers

A

Rights to
-Be heard
-Be safe
-To chose
-Be informed

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15
Q

What is responsibility to employees

A

Workplace safety
Equal opportunities at work
No sexual harassment

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16
Q

What is responsibility to investors

A

Obligation to make profits for shareholders
Businesses should not lie to their investors