MGT 3303 chapter 4
virtue ethics
a perspective that what is moral comes from what a mature person with "good moral character" would deem right
relativism
a philosophy that bases ethic behavior on the opinions and behaviors of relevant other people
Life cycle analysis (LCA)
a process of analyzing all inputs and outputs through the entire "cradle to grave" life of a product to determine total environmental impact
ethical issue
a situation, problem or opportunity in which an individual must choose among several actions that must be evaluated as either right or wrong
philanthropic responsibilities
additional behaviors and activities that society finds desirable and that the values of the business support
Sarbanes-Oxley act
an act that established strict accounting and reporting rules to make senior managers more accountable and to improve and maintain investor confidence
transcendent education
an education with 5 higher goals that balance self interest with responsibility to others
egoism
an ethical principle holding that individual self-interest is the motive of all conscious action
utilitarianism
an ethical system stating that the great good for the greatest number should be the overriding concern for decision makers
Kohlberg's model of cognitive moral development
classification of people based on their moral judgement
integrity based ethics programs
company mechanisms designed to instill peple a personal responsibility for ethical behavior
compliance based ethics programs
company mechanisms typically designed to corporate council to prevent, detect, and punish legal violations
sustainable growth
economic growth and development that meet present needs without harming the needs of future generations
Caux principles for business
ethical principles established by international executives based in Caux, Switzerland, in collaboration with business leaders from Europe, japan, and the united states
ethical climate
in an organization, the process by which decisions are evaluated and made on the basis of right or wrong
ethical responsibilities
meeting other social expectations not written as law
corporate social responsibility
obligation towards society assumed by business
ethical leader
one who is both a moral person and a moral manager influencing others to behave ethically
moral philosophy
principles, rules, and values people use in deciding what is right and wrong
universalism
the ethical system stating that all people should uphold certain values that society needs to function
ecocentric management
the goal is the creation of sustainable economic development and improvement of quality of life worldwide for all stakeholders
business ethics
the moral principles and standards that guide behavior in the world of business
shareholder model
theory of corporate social responsibility that holds that managers are agents of shareholders whose primary objective is to maximize profits
stakeholder model
theory of corporate social responsibility that suggests that managers are obligated to look beyond profitability to help their organization succeed by interacting with groups that have a stake in the organization
legal responsibilities
to obey local, state, federal, and relevant international laws
economic responsibilities
to produce goods and services that society wants at a price that perpetuates the business and satisfies its obligations to investors
