MGMT333 Chpt. 4

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

economy

A company within a community contributes to its local

stockholders

The owners of a company

Stakeholders

The people and groups that supply a company with its productive resources and so have a claim on and stake in the company.

How would unethical behavior in the form of routine cheating by stakeholders affect managers' ability to do business?

There would be more non-productive activity. Additional bargaining will be needed to conclude contracts. Efficiency and effectiveness would decrease.

societal ethics

members of a society treat each other with fairness, equity, and justice.

what must society do first in order to punish undesired behavior

pass laws

utilitarian rule

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

Defensive

Choice, When managers are granted large stock options and bonuses even as company performance declines rapidly When managers are granted large stock options and bonuses even as company performance declines rapidly

When companies make ethical and socially responsible decisions on behalf of their employees, what is the result?

Companies make decisions that protect, enhance and promote the welfare and well-being of their stakeholders.

What would be an accurate statement regarding ethics and legality

Just being legal does not make an action ethical.

Occupational Ethics

Standards of behavior for a profession or trade

managers

The stakeholder group responsible for choosing the strategic goals that the company should pursue in order to benefit all of the company's stakeholders is the

social responsibility

This obligation to make decisions that will offer such protections is referred to as the company's

laws

To enforce their views of right or wrong behavior, different groups in society lobby for

Financial, capital, and human

What three company resources are managers responsible for in order to increase performance and, as a result, the company's stock price? Multiple choice question. Internal, external, and manufacturing

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

ethical dilemma

a situation in which people are faced with two opposing decisions

managers

have a claim on an organization because they bring to it their skills, expertise, and experience

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 products, it cannot stay in business

justice rule

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

moral rights rule

states that ethical decisions are ones that maintain and protect people's fundamental rights and privileges.

Which stakeholders have a claim on and a stake in a company because of the productive resources they provide?

stockholder executives managers

practical

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

A company can act ethically toward employees and meet their expectations by creating an occupational structure

that fairly and equitably rewards employees

ethical dilemma

the quandary people find themselves in when they have to decide if they should act in a way that might help another person or group and is the right thing to do even though doing so might go against their own self-interest

Why is it important for a company to follow the laws and act ethically?

Because if a company fails due to illegal or unethical practices, it hurts the community


Set pelajaran terkait

13.4 Ageism Theoretical Perspective

View Set

chapter 11 - corporate performance, governance, and business

View Set

Business Law - Chapter 11 - Study Questions

View Set

English Fahrenheit 451 Final 10.20.20

View Set

Development of Children's Eating Habits

View Set

La France Contemporaine: Chapitre 6

View Set

Modern Novel for Choice Novel Consideration 2020

View Set