BADM 310 Unit 2 Chapter 4

because managers invest their human capital to improve a company's performance, they have the right to expect rewards such as

- bonuses - benefits - good salaries

individuals face moral dilemmas because which of the following can be relative: - costs - roles - ethics - values

- ethics - values

company founders are very influential in shaping the: - ethical credo - organizational reputation - organization's code of ethics - organizational ethics

- organization's code of ethics - organizational ethics

sources of individual ethics include: - peers - upbringing - income - family

- peers - upbringing - family

responsibilities of ombudspeople

- they monitor the ethical practices and procedures in an organization - they have organization-wide authority to investigate ethical lapses - they can counsel employees facing ethical dilemmas

four important elements for managers to consider when using the moral rights rule

- will the decision impede someone's freedom of speech? - will the decision make someone's environment less safe? - will the decision cost someone his/her life? - will the decision take away someone's property?

practical rule

an ethical decision is one that a manger has no hesitation about communicating to people outside the company because the typical person in a society would think it is acceptable

The ____ is responsible for checking the ethical reputation of a possible CEO

board of directors

managers' primary concern as a stakeholder group

deciding on a company's goals and how to use its resources

while managers may want to treat all stakeholders equally, in reality, they need to prioritize the treatment of the various stakeholder groups which may create an ethical ____ for managers

dilemma

just being legal does not make an action ____

ethical

employees scrutinize the behavior of managers, who serve as ____ to their subordinates

ethical role models

people are guided by ____, their inner moral principles, values, and beliefs, which they use to analyze or interpret situations and then make decisions about right and wrong ways to behave

ethics

unethical behavior can ruin business commerce, which in turn can lower a society's standard of living because ____

fewer goods and services are produced

three company resources managers are responsible for in order to increase performance and as a result, the company's stock price

financial, capital, and human

customers are frequently regarded as the most critical stakeholder group for the company's success because ____

if a company cannot attract customers to buy its product, it cannot stay in business

when people's self-interests are at stake, people's ____ ethics influence how they perceive their responsibilities and how they behave towards others

individual

when people in a a particular country automatically behave according to their country's beliefs, norms and values, they have ____ their country's ethics

internalized

a manger facing the dilemma of how to be fair and not show favor to one stakeholder group over another is being challenged in the application of the ____ rule

justice

to enforce their views or right or wrong behavior, different groups in society lobby for ____

laws

consideration of people's rights to freedom, life, safety, property, privacy, and free speech are important to managers using the ____ rights rule to make ethical decisions

moral

companies and their managers are guided by ____ ethics, which are the guiding practices and beliefs that managers use as the lens through which they view their responsibilities toward their stakeholders

organizational

stakeholders must earn a good ____ within their organizations, as their livelihoods depend on their ethical behavior and the esteem they build from colleagues and managers

reputation

a company's ethics impacts its view of how it must protect, promote, and care for the welfare and well-being of all stakeholders and society as a whole. This obligation to make decisions that will offer such protections is ____

social responsibility

when ____ ethics are in play, members of a society treat each other with fairness, equity, and justice

societal

once a law is passed, decisions about an individual's behavior with respect to that law, are a reflection of ____

societal beliefs as stated in the law

The justice rule

states than an ethical decision i a decision that distributes benefits and harms among people and groups in a fair, equitable, or impartial way

The moral rights rules

states than an ethical decision is one that best maintains and protects the fundamental or inalienable rights and privileges of the people affected by it

The utilitarian rule

states that ethical decisions are those that produce the greatest good for the greatest number of people

in business, to help you decide what is right, one major challenge to ethical decision making is ____

the lack of absolute rules

trust

when a person has faith in the goodwill of another person, even if this puts them at risk

defensive

when managers are granted large stock options and bonuses even as company performance declines rapidly

accommodative

when managers at older and more reputable companies, with much to lose, dissuade employees from acting unethically even when it would ensure their competitive advantage

obstructionist

when managers knowingly seek to hide evidence from the public, such as that asbestos and/or tobacco causes lung cancer

proactive

when managers seek ways to reduce operating costs to prevent layoffs to enable them to keep promises they make to employees

occupational ethics

when standards are in place to guide people within the same profession, trade, or craft on how to conduct themselves in while working on profession-related activities