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34 Cards in this Set
- Front
- Back
ethics |
standards of moral behavior; that is behavior that is accepted by society as right vs wrong |
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compliance-based ethics codes |
ethical standards that emphasize preventing unlawful behavior by increasing control & by penalizing wrong doers |
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ideal (CB ethic code) |
conform to outside standards (laws and regulations) |
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objective (CB Ethic code) |
avoid criminal misconduct |
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leaders (CB ethic code) |
lawyers |
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methods (CB ethic code) |
education, reduced employee discretion, controls & penalities |
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integrity-based ethics code |
ethical stands that define the organization's guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees |
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ideal (IB ethic code) |
conform to outside standards (rules & regulations) & chosen internal standards |
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objective (IB ethic code) |
enable responsible employee conduct |
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leaders (IB ethic code) |
managers with aid of lawyers & others |
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methods (IB ethic code) |
education, leadership, accountability, decision process, & penalties |
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whistle blowers |
people who report illegal or unethical behavior |
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corporate social responsibility (CSR) |
a business's concern for the welfare of society |
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dimensions of the social performance of a company |
corporate philanthropy, corporate social initiatives, corporate responsibility, corporate policy |
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corporate philanthropy |
dimension of social responsibility that includes charitable donations |
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corporate social intiatives |
dimension of social responsibility that includes enhanced forms of corporate philanthropy that are more directly related to the company's competencies |
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corporate responsibility |
dimension of social responsibility that includes everything from the hiring minority to making safe products |
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corporate policy |
dimension of social responsibility that refers to the position a firm takes on social & politcal issues |
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two different views of corporate responsibility to stake holders are? |
the strategic approach and the pluralist approach |
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the strategic approach |
requires that management's primary orientation be toward the economic interest of shareholders |
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the pluralist approach |
recognizes to make money but not at the expense of employees, suppliers or members of the community |
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customers have 4 basic rights |
1. the right to safety 2. the right to be informed 3. the right to choose 4. the right to be heard |
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inside trading |
an unethical activity in which insiders use private company information to further their own fortunes or those of their family & friends |
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social audit |
a systematic evaluation of an organization's progress toward implementing programs that are socially responsible & responsive |
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triple-bottom line |
a framework for measuring & reporting corporate performance against economic, social & environmental parameters |
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4 types of groups that serve as watchdogs regarding how well companies enforce their ethical & social responsibility polices are |
1. socially conscious investors 2. environmentalists 3. union officials 4. customers |
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socially conscious investors |
insist that a company extend its own high standards to all its suppliers, social responsibility investing is on the rise |
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environmentalists |
apply pressure by publicly identifying companies that so not able by the environmentalists standards |
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union officials |
hunt down violations & force companies to comply to avoid negative publicity |
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customers |
take their business elsewhere if a company demonstrates unethical or socially irresponsible practices |
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sustainable development |
implementing a process that integrates environmental, economic, & social considerations into decision making |
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businesses should be managed ethically to |
maintain a good reputation, keep/attract customers, avoid lawsuits, reduce employee turnover, avoid government intervention, do the right thing |
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social audit |
systematic evaluation of a company's progress toward implementing socially responsible & responsive programs |
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fair trade |
social movement dedicated to making sure that producers in developing countries are paid a fair price for the goods we consume |