Principles of Management Ch. 3&4
Ethics Audit
A comprehensive evaluation of a firm's ethics and compliance program and its ethical decisions used to determine whether the program is effective.
Utilitarianism
A philosophy where believers seek the greatest satisfaction for the largest number of individuals.
Deontology
Focuses on human rights and values and on the intentions associated with a particular behavior.
Global
Pertaining to the general environment, those factors in other countries that affect the organization.
Business Ethics
Principles, values, and codes of conduct that define acceptable behavior in business.
You own a bakery that makes fine bran muffins, but you lose a customer to another bakery that offers him a 25 percent discount for similar muffins. You are facing a challenge in the
Task Environment
You own a gourmet restaurant in Atlanta. You send your chef, Pierre LePeachtree, to a major international restaurant-owners' meeting so he can find out what some of the hot new entrees are around the world. You are being sensitive to the
Task Environment
Within the general environment, what term describes the knowledge and process of changing inputs (resources, labor, and money) to outputs (goods and services)?
Technological
Sociocultural Dimension
The aspect of the general environment that includes the demographics, attitudes, and the values of the society within which an organization operates.
Corporate Governance
The formal system of oversight, accountability, and control for organizational decisions and resources.
External Environment
all the factors outside of the organization that may affect the manager's actions
What name is given to the overall condition of the complex interactions of economies throughout the world?
economic dimension
The phrase caveat emptor means
let the buyer beware
Social Audit
A systematic examination of the objectives, strategies, organization, and performance of the social responsibility function.
Internal Environment
All factors that make up the organization, such as the owners, managers, employees, and board of directors.
What are potential new competitors?
Companies not currently operating in a business's industry but that have a high potential for entering the industry
When a performance evaluation is based on favoritism and political opportunity, rather than on merit, an ethical issue has arisen in the area of
Employee Relations
Code of Ethics
Formalized rules and standards that describe and delineate what the organization expects of its employees.
Social Responsibility
The obligation a business assumes to maximize its positive impact and minimize its negative impact on society.
Economic
The overall condition of the complex interactions of economies throughout the world.
A managerial decision becomes an ethical issue when
accepted rules no longer apply, and the person must use his or her own moral standards.
Developing widespread electric charging stations for electric cars is an illustration of
building technological infrastructure.
Because there are numerous suppliers of potatoes for such major fast-food chains as McDonald's, Wendy's, and Burger King, the suppliers
have little control over the restaurants
its an advantage if businesses have
many suppliers
The _____ conflict that exists within an organization, the _____ the perception of the ethicalness of the work group.
more;lower
For a company to maintain ethical behavior, its policies, rules, and standards to encourage ethical decision making
must be enforced by rewards for proper behavior and punishments for unacceptable behavior
While open discussion of an ethical issue may not eliminate all ethical problems in an organization, discussion will usually
promote trust and learning in an organization
When managers allow greater participation with regard to the design and implementation of projects, conflict within work groups isx
reduced
whistleblowing
reporting others' ethics violations to management or legal authorities
Ethical violations destroy
trust
The role of management in fostering ethical behavior in an organization is extremely important because managers
who ask employees to do something wrong have a powerful influence.
Individual Values
Also known as moral philosophies, are sets of principles that describe what a person believes are the right way to behave.
Ethical Issue
An identifiable problem, situation, or opportunity that requires a person or organization to choose among several actions that may be evaluated as ethical or unethical.
Task Environment
Those factors that have a direct effect on a specific organization and its managers, including customers, suppliers, competitors, substitutes, and potential new entrants to the industry.
Technological
Within the general environment, the knowledge and process of changing inputs (resources, labor, and money) to outputs (goods and services).
Political/Legal
Within the general environment, the nature of the relationship between various areas of government and the organization.
In analyzing the relationship between ethics and social responsibility, ethics may be viewed as
a component of social responsibility.
Environment
all the factors that affect the operation of the organization