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17 Cards in this Set
- Front
- Back
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Ethics
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Society's accepted standards of moral behavior, that is, behavior accepted by society as right and wrong
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Who are Ken Blanchard and Norman Vincent Peale
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1.) Proposed action legal?
2.) Is it balanced? 3.) How will it make me feel about myself? *Overly ambitious goals and incentives can create an environment in which unethical actions occur |
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Compliance - based Ethic Codes
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Emphasize preventing unlawful behavior by increasing control and penalizing wrong doers
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Integrity - Based Ethic Codes
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Define the organization's guiding values, create environment that supports ethically sound behavior, and stress shared accountability
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What do top management companies corporate codes consist of that improve business ethics?
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-Employees must understand expectations for ethical behavior begin at the top and that senior management expects them to follow suit
-Managers must be trained to consider ethical implications of business decisions -Ethics office must be set up where employees communicate anonymously (whistle blowers) -Outsiders (suppliers, etc) are told of ethics program -Ethics code is enforced with timely action when rules are broken |
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Whistleblowers
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Insiders who report illegal behavior
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Corporate Social Responsibility (CSR)
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The concern businesses have for the welfare of society, not just for their owners
*Milton Friedman "Only social responsibility of business is to make money for stockholders" (anything else is socialism) |
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Corporate Philanthorpy
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Dimension of social responsibility that includes charitable donations (Bill Gates & McDonalds)
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Corporate Social INitiatives
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Enhanced forms of corporate philanthropy directly related to the company's competencies (TNT employees)
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Corporate Responsibility
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Dimension of social responsibility that includes everything from hiring minority workers to making safe products, minimizing pollution (Being responsible)
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Corporate Policy
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Dimension of social responsibility that refers to the position a firm takes on social and political issues (Pantagonia supports green environment)
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JFK's rights of consumers
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1.) Safety
2.) Be Informed 3.) Choose 4.) Be Heard |
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Insider Trading
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Uses private company info to further insiders' own fortunes or those of their family and friends
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Satisfy employees helps business growth
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Give salaries and benefits that help reach personal goals
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Social Audit
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A systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs
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What are the 5 types of groups that watch how well companies enforce their ethical and social responsibility policies?
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1.) Socially conscious investors (extend high standards to suppliers)
2.) Socially conscious research organizations (Analyze and report on social responsibility efforts) 3.) Environmentalists (Apply pressure by listing companies who are not green) 4.) Union Officials (Hunt down violations and force companies to comply to avoid negative publicity) 5.) Customers (Make buying decisions based on their social conscious) |
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How is Nike’s monitoring program not as successful?
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1.) In emerging economies, government regulations tend to be weak, which leaves companies to police their suppliers
2.) Has different degrees of leverage *Trying to change outsourcing by using lean manufacturing instead of low-skilled assembly lines |
