Chapter 2: Business Ethics
What 5 things are necessary to maintain Fairness and Honesty for employees?
1. abide by the laws 2. cause no harm to customers or employees 3. use company resources fairly 4. be aware of company policies 5. recognize ethical behavior
What industry is trust low in?
Banks, not including media and government
What are they types of Sustainability Issues?
Pollution and Alternative Energy
What are some examples of legal and ethical issues?
Subprime loans and foreclosures, cyber crimes, NFL handling of domestic abuse
What types of Pollution exist?
Water Air(acid rain and global warming) Land(garbage, strip mining, poor forest conservation)
What is an ethical issue?
a problem, situation, or opportunity that requires a person to choose from right or wrong, ethical or unethical
What is the most common type of bullying?
abusive or intimidating behavior
What is the most important step in understanding business ethics?
being able to recognize ethical issues
What is greenwashing?
creating a positive green association on things that aren't green
What are managers responsible for?
educating other managers and supervisors about ethics policies and what to do if an ethical crisis happens
What is Misuse of Company resources?
employees spending time with company owned resources for their personal use
What is conflict of interest?
exists when a person must decide whether to increase their personal interests or those of others
What is an example of conflict of interest?
insider trading
What are some examples of time theft?
long lunch breaks, leaving early, inappropriate sick days, socializing
What are examples of common unethical issues?
lying to employees, discrimination against employees, falsifying time reports, stealing
Who is acceptable behavior determined by?
organization, stakeholders/interest groups, competitors, gov. regulators, the public, individual principles
What is one of the most principle causes of unethical behavior?
overly aggressive financial or business objectives
What is Bribery?
payments, gifts, or special favors done to influence decisions
What is Business Ethics?
principles and standards that determine acceptable in business
How can we utilize Alternative Energy?
reduce carbon emissions and use alternative energy sources
How should you avoid conflict of interest?
separate personal interests from business
What are some examples of Misuse of company resources?
spending excessive time on personal email, using company copier for personal use
What is plagiarism?
taking someone else's work and presenting it as your own without citing the source
What is the Code of Ethics?
the Formalized rules and standards that describe what a company expects of its employees
What is Social Responsibility?
the businesses obligation to to maximize positive impact and minimize its negative impact on society.
What is trust considered in business?
the glue that holds relationships together
What are the current trends in regard to ethics in Business?
the growing concern that legal and ethical issues in business strengthen the public's idea businesses need to increase there level of trust
What must managers do?(tone from the top)
they must how strong commitment to ethics and compliance.
How is greenwashing done?
through certain packaging colors or calling things "all natural" when they may not be
Does time theft cause companies loss of money?
time theft has caused companies to lose billions annually
Why is it important to understand different cultures in business?
views of ethical and unethical things may be different(bribery)
What is considered bullying?
when a targeted person or group is threatened, harassed, belittled, verbally abused, or overly criticized
What is Whistleblowing?
when an employee exposes an employer's wrongdoing to outsiders(media, gov regulatory agencies)
Is misuse of company time considered theft?
while this is a very common thing in work, it is theft of time