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18 Cards in this Set
- Front
- Back
Ethics
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Standards of moral behavior; behavior accepted by society as right versus wrong
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Compliance-based ethics codes
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Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers
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Integrity-based ethics codes
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Ethical standards 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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Whistleblowers
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Insiders who report illegal or unethical behavior
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Corporate Social Responsibility
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A business's concern for the welfare of society
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Corporate Philanthropy
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The dimension of social responsibility that includes charitable donations
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Corporate Social Initiatives
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Enhanced forms of corporate philanthropy directly related to the company's competencies.
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Corporate Responsibility
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The dimension of social responsibility that includes everything from hiring minority workers to making safe products.
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Corporate Policy
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The dimension of social responsibility that refers to the position a firm takes on social and political issues.
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Insider trading
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An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends
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Social Audit
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A systematic evaluation of an organizations progress toward implementing socially responsible and responsive programs.
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How is legality different from ethics?
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Ethics goes beyond obeying laws to include abiding by the moral standards accepted by society.
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What three questions should you answer when faced with a potentially unethical action?
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1) Is it legal?
2) Is it Balanced? 3) How will it make me feel? |
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What's the difference between compliance-based and integrity-based ethics codes?
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Compliance-based are concerned with avoiding legal punishment, whereas integrity-based define an organization's guiding values, create an environment that supports ethically sound behavior and has a shared accountability among employees.
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Describe management's role in setting ethical standards.
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Management sets formal ethical standards. Their tolerance or intolerance of ethical misconduct also influences employees more than written words (actions speak louder etc)
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Describe how businesses demonstrate corporate responsibility to stakeholders.
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1) goods and services of real value for 'customers'
2)Makes money for 'investors' 3)Creates jobs for 'employees' and maintain job security as well as hard work and talent are rewarded 4)Create new wealth for 'society', promote social justice and contribute to making its own environment a better place. |
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How are a company's social responsibility efforts measured?
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A corporate social audit measures progress toward social responsibility. Some believe an audit should add together the organizations positive actions and then subtract the negative effects to get a net social benefit.
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Analyze the role of the U.S. in influencing ethical behavior and social responsibility in global markets
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Many US businesses are demanding socially responsible behavior from international suppliers. Ensuring they don't violate US human rights and environmental standards (sweat shops and pollution etc)
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