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33 Cards in this Set
- Front
- Back
What is Value chain?
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the key functional inputs that an organization provides in the transformation of raw materials into a delivered product or service
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What is Organizational culture?
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the values, beliefs, and norms that all the employees of that organization share
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what is Ethical dilemma?
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A situation in which there is no obvious right or worng decision, but rather a right or right answer
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How do Marketers see themselves?
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Marketers see themselves as providing products (or services) to customers who have already expressed a need for and a desire to purchase those products.
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What is Conflicts of Interest?
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A situation where one relationship or obligation places you in direct conflict with an existing relationship or obligation
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What are HR function?
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HR professionals must help ensure that ethics is a top organizational priority.
HR must ensure that the leadership selection and development processes include an ethics component. HR is responsible for ensuring that the right programs and policies are in place. HR must stay abreast of ethics issues (and in particular the changing legislations and sentencing guidelines for unethical conduct). |
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What is GAAP ?
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The generally accepted accounting principles that govern the accounting profession
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What is Corporate Social Responsibility (CSR) ?
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The actions of an organization that are targeted towards the achievement of a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations.
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What is The Instrumental Approach?
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The perspective that the only obligation of a corporation is to maximize profits for its shareholders in the provision of goods and services that meet the needs of their customers.
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What are the driving force behind CSR ?
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Transparency
Knowledge Sustainability Globalization The Failure of the Public Sector |
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What is Ethical CSR, Altruistic CSR, Strategic CSR?
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Ethical CSR
Organizations pursue a clearly defined sense of social conscience in managing their financial responsibilities to shareholders, their legal responsibilities to their local community and society as a whole, and their ethical responsibilities to ‘do the right thing’ for all their stakeholders. Altruistic CSR Organizations take a philanthropic approach by underwriting specific initiatives to “give back’ to the company’s local community or to designated national or international programs. Strategic CSR Philanthropic activities are targeted towards programs that will generate the most positive publicity or goodwill for the organization. |
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what is Universal Ethics?
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Actions are taken out of duty and obligation to a purely moral ideal rather than based on the need of the situation, since the universal principles are seen to apply to everyone, everywhere, all the time
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What is Corporate Governance?
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The system by which business corporations are directed and controlled
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what is Utilitarianism?
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Ethical choices that offer the greatest good for the greatest number of people
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Why would you combine CEO & Chairman?
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First step in disregarding the corporate governance model – merge the roles of chief executive officer (CEO) and chairman of the board into one individual
In favor of merging – efficiency and conflict minimized Opposed to merging – governance needs checks and balances |
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What is Fiduciary responsibility ?
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Based on trust
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What is Human Resource Management?
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Section which coordinates the recruitment, training & development of personnel for all aspects of the organization.
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What is Information system?
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(IS or IT)
Section which maintain the technology backbone of the organization, data transfer & security , email communications, internal & external web sites, as well as the individual hardware and software needs that are specific to the organization and its line of business |
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Who oversee the governance of an organization?
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The supervisory role that oversees all operational function
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Lawrence Kohlberg's framework
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Preconventional: 1-abedience & punishment
2- Individualism, instrumentalism, Exchange Conventional: 3- good boy/nice girl 4-Law & order Post-conventional: 5- Social contract 6- Principled conscience |
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Stakeholder
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Someone with a share or interest in a business enterprise
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Corporate governance
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the system by which business corporations are directed and controlled
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Normative / prescriptive ethic
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evaluation of the degree to which the observed customs, attitudes, n rules can be said ethical
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Sarbanes-Oxley act 2002
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greater accountability for CEO and board of directors in signing off on the financial performance records of the organizations they represent
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Corporate Citizenship
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An alternative term for corporate social responsibility, implying that the organization is a responsible citizen in meeting all its obligations.
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Corporate Conscience
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An alternative term for corporate social responsibility, implying that the organization is run with an awareness of its obligations to society
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In the last 30 years alone, ----- of the planet's resources have been consumed.
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1/3 or 33%
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What is Carbon neutral operation?
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Operation by which companies offset whatever damage to the environment through greenhouse emissions by purchasing carbon positive projects.
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Who should be on the boards of directors?
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inside & outside members, elected by shareholder's meeting (AGM) for a specific period of time. They oversee the governance of the organization. True power of a board vary from institution to institution.
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Ethics
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is the study of how people try to live their lives accordingly to a standard of right or wrong behavior.
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R&D
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section that carry the responsibility of the future growth of the organization. Involvement in new products
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R&D function
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to develop a product design that will hopefully, will allow the organization to capture and maintain a leading position in their market
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a) who is responsible for monitoring the ethical practices of the organization?
Responsibility of managers |
a) managers
b) they are committed to an aggressive growth strategy while complying with all federal, sate, local laws. |