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Exam 1 - Flashcards

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Class:MGT 4334 - Ethical Leadership
Subject:Management
University:Virginia Polytechnic Institute And State University
Term:Spring 2012
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      Mode:   CARDS LIST       ? pages   PRINT EXIT
Business Ethics the principles, values, and standards that guide behavior in the business world
Ethical Cultural the character or decision-making process that employees use to determine whether their responeses to ethical issues are right or wrong
Federal Sentencing Guidelines for Organizations(FSGO) codified into law, incentives to reward organizations for taking action to prevent misconduct
Principles specific and persuasive boundaries for behavior that are universal and absolute
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Sarbanes-Oxley Act law that made securities fraud a criminal offense and stiffened penalities for corporate fraud; created an accounting oversight board that requires corporations to establish codes of ethics for financial reporting and to develop greater transparency in financial reporting and to develop greater transparency in financial reports to investors and other interested parties
Social Responsibility(1) an organizations obligation to maximize its positive impact on stakeholders and to minimize its negative impact
Corporate Citizenship the extent to which businesses strategically meet the economic,legal,ethical, and philanthropic responsibilities placed on them by their various stakeholders
Corporate Governance formal systems of accountability, oversight, and control within an organization
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Primary Stakeholder individuals or groups whose continued asssociation is absolutely necessary for a firms survival, including employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infrastructure
Reputation one of an organizations greatest intangible assets with tangible value; influenced by its actions, choices, behaviors and consequences
Secondary Stakeholder individuals or groups that do not typically engage in transactions with a company and thus are not essential for its survival, including media, trade associations, and special interest groups
Shareholder an owner of a firm because they own shares of stock in a firm
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Social Responsibility(2) business ethics model that includes values, norms, and expectations that reflect the concerns of multiple major stakeholders
Accounting Fraud manipulation or falsification of a corporations financial reports providing important information on which investors and others base decisions
Conflict of Interest when an individual must choose whether to advance his or her own interests, those of the organization, or those of some other group
Equality how wealth or income is distributed between employees within a company, a country, or across the globe
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Ethical Dilemma a problem, situation, or opportunity that requires an individual, group, or organization to choose among several wrong or unethical actions
Fairness the quality of being just, equitable, and impartial
Integrity uncompromising adherence to ethical values
Labeling Issue a type of advertising abuse in the form of claims that misrepresent the freatures or properties of a product or service
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Optimization the trade-off between equity (equality or fairness) and efficiency (maximum productivity)
Privacy Issue issues that businesses must address include the monitoring of employees use of available technology and consumer privacy
Voluntary Practices the beliefs, values, and voluntary contractual obligations of an organization
Civil Law defines the rights and duties of individuals and organizations
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Consumer Protection Law laws protecting consumers that require businesses to provide accurate information about products and services and to follow safety standards
Criminal Law not only prohibits specific actions such as fraud, theft, or secruties trading violations, but also imposes fines or imprisonment as punishment for breaking the law
Environmental Protection Agency created in 1970 to coordinate environmental agencies involved in enforcing the nations environmental laws; the major area of environmental concern relates air, water and land pollution
Occupational Safety and Health Administration 1970, mandates that employers provide safe and healthy working conditions for all workers; makes regular surprise inspections to ensure that businesses maintain safe working environments
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Corporate Culture a set of values, norms, and artifacts, including ways of solving problems that members of an organization share
Ethic-Issue Intensity the relevance or importance of an ethical issue in the eyes of the individual, work group, and/or organization
Leadership the ability or authority to guide and direct others toward achievment of a goal
Obedience to Authority one means used by many employees to resolve business ethics issues
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Opportunity the conditions in an organization that limit or permit ethical or unethical behavior
Actutilitarian individual who examines a specific action itself, rather than the general rules governing it, to assess whether it will result in the greatest utility
Consequentalism teleogical theories that assess the moral worth of a behavior by looking at its consequences
Deontology moral philosophies that focus on the rights of individuals and on the intentions associated with a particular behavior rather than on its consequences
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Distributive Justice justice based on the evaluation of the outcomes or results of the business relationship
Economic Value Orientation a theory associated with values that can be quantified by monetary means
Egoism theory that defines right or acceptable behavior in terms of its consequences for the individual
Idealism a moral philosphy that places special value on ideas as products of the mind, in comparison with the worlds view
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Instrumentalist rejects the idea that (1) ends can be seperated from the means that produce them and (2) ends, purposes; or outcomes are intrinsically good in and of themselves
Moral Philosophy
Relativism holds that definitions of ethical behavior are derived subjectively from the experiences of individuals and groups
Moral Philosophy
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Teleology moral philosophies in which an act is considered morally right or acceptable if it produces some desired result such as pleasure, knowledge, career growth, the realization of self-interest, utility, wealth, or even fame
Utilitarism theory that seeks the greatest good for the greatest number of people by making decisions that result in the greatest total utility and that achieve the greatest benefit for all those affected
Virtue Ethics posits that what is moral in a given situation is not only what conventional morality or moral rules rigquire but also what the mature person with "good" moral character would deem appropriate
Centralized Organization organizational structure in which decision making authority is concentrated in the hands of top-level managers and little authority is delegated to lower levels
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Coercive Power the ability to influence behavior by penalizing actions or behavior
Compliance Culture transaction-based culture that focuses on compliance with policies and procedures
Corporate Culture a set of values, norms, and artifacts including ways of solving problems that members of an organization share
Decentralized Organization organizational structure in which decision-making authority is delegated as far down the chain of command as possible
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Expert Power derived from a persons knowledge
Job Performance considered to be a function of ability and motivation; in that employees can be motivated, but resources and know-how are also needed to get the job done
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 Business Ethicsthe principles, values, and standards that guide behavior in the business world
 Ethical Culturalthe character or decision-making process that employees use to determine whether their responeses to ethical issues are right or wrong
 Federal Sentencing Guidelines for Organizations(FSGO)codified into law, incentives to reward organizations for taking action to prevent misconduct
 Principlesspecific and persuasive boundaries for behavior that are universal and absolute
 Sarbanes-Oxley Actlaw that made securities fraud a criminal offense and stiffened penalities for corporate fraud; created an accounting oversight board that requires corporations to establish codes of ethics for financial reporting and to develop greater transparency in financial reporting and to develop greater transparency in financial reports to investors and other interested parties
 Social Responsibility(1)an organizations obligation to maximize its positive impact on stakeholders and to minimize its negative impact
 Corporate Citizenshipthe extent to which businesses strategically meet the economic,legal,ethical, and philanthropic responsibilities placed on them by their various stakeholders
 Corporate Governanceformal systems of accountability, oversight, and control within an organization
 Primary Stakeholderindividuals or groups whose continued asssociation is absolutely necessary for a firms survival, including employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infrastructure
 Reputationone of an organizations greatest intangible assets with tangible value; influenced by its actions, choices, behaviors and consequences
 Secondary Stakeholderindividuals or groups that do not typically engage in transactions with a company and thus are not essential for its survival, including media, trade associations, and special interest groups
 Shareholderan owner of a firm because they own shares of stock in a firm
 Social Responsibility(2)business ethics model that includes values, norms, and expectations that reflect the concerns of multiple major stakeholders
 Accounting Fraudmanipulation or falsification of a corporations financial reports providing important information on which investors and others base decisions
 Conflict of Interestwhen an individual must choose whether to advance his or her own interests, those of the organization, or those of some other group
 Equalityhow wealth or income is distributed between employees within a company, a country, or across the globe
 Ethical Dilemmaa problem, situation, or opportunity that requires an individual, group, or organization to choose among several wrong or unethical actions
 Fairnessthe quality of being just, equitable, and impartial
 Integrityuncompromising adherence to ethical values
 Labeling Issuea type of advertising abuse in the form of claims that misrepresent the freatures or properties of a product or service
 Optimizationthe trade-off between equity (equality or fairness) and efficiency (maximum productivity)
 Privacy Issueissues that businesses must address include the monitoring of employees use of available technology and consumer privacy
 Voluntary Practicesthe beliefs, values, and voluntary contractual obligations of an organization
 Civil Lawdefines the rights and duties of individuals and organizations
 Consumer Protection Lawlaws protecting consumers that require businesses to provide accurate information about products and services and to follow safety standards
 Criminal Lawnot only prohibits specific actions such as fraud, theft, or secruties trading violations, but also imposes fines or imprisonment as punishment for breaking the law
 Environmental Protection Agencycreated in 1970 to coordinate environmental agencies involved in enforcing the nations environmental laws; the major area of environmental concern relates air, water and land pollution
 Occupational Safety and Health Administration1970, mandates that employers provide safe and healthy working conditions for all workers; makes regular surprise inspections to ensure that businesses maintain safe working environments
 Corporate Culturea set of values, norms, and artifacts, including ways of solving problems that members of an organization share
 Ethic-Issue Intensitythe relevance or importance of an ethical issue in the eyes of the individual, work group, and/or organization
 Leadershipthe ability or authority to guide and direct others toward achievment of a goal
 Obedience to Authorityone means used by many employees to resolve business ethics issues
 Opportunitythe conditions in an organization that limit or permit ethical or unethical behavior
 Actutilitarianindividual who examines a specific action itself, rather than the general rules governing it, to assess whether it will result in the greatest utility
 Consequentalismteleogical theories that assess the moral worth of a behavior by looking at its consequences
 Deontologymoral philosophies that focus on the rights of individuals and on the intentions associated with a particular behavior rather than on its consequences
 Distributive Justicejustice based on the evaluation of the outcomes or results of the business relationship
 Economic Value Orientationa theory associated with values that can be quantified by monetary means
 Egoismtheory that defines right or acceptable behavior in terms of its consequences for the individual
 Idealisma moral philosphy that places special value on ideas as products of the mind, in comparison with the worlds view
 Instrumentalistrejects the idea that (1) ends can be seperated from the means that produce them and (2) ends, purposes; or outcomes are intrinsically good in and of themselves
 Moral Philosophy 
 Relativismholds that definitions of ethical behavior are derived subjectively from the experiences of individuals and groups
 Moral Philosophy 
 Teleologymoral philosophies in which an act is considered morally right or acceptable if it produces some desired result such as pleasure, knowledge, career growth, the realization of self-interest, utility, wealth, or even fame
 Utilitarismtheory that seeks the greatest good for the greatest number of people by making decisions that result in the greatest total utility and that achieve the greatest benefit for all those affected
 Virtue Ethicsposits that what is moral in a given situation is not only what conventional morality or moral rules rigquire but also what the mature person with "good" moral character would deem appropriate
 Centralized Organizationorganizational structure in which decision making authority is concentrated in the hands of top-level managers and little authority is delegated to lower levels
 Coercive Powerthe ability to influence behavior by penalizing actions or behavior
 Compliance Culturetransaction-based culture that focuses on compliance with policies and procedures
 Corporate Culturea set of values, norms, and artifacts including ways of solving problems that members of an organization share
 Decentralized Organizationorganizational structure in which decision-making authority is delegated as far down the chain of command as possible
 Expert Powerderived from a persons knowledge
 Job Performanceconsidered to be a function of ability and motivation; in that employees can be motivated, but resources and know-how are also needed to get the job done
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