What are the three general categories of unethical and illegal behavior Quizlet
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Terms in this set (76)Ethics are Individual standards or moral values regarding what is right and wrong or good and bad Business ethics are Ethical or unethical behaviours by a manager or employee of a business It is important to make a distinction between _____ and ____ behaviours Unethical and ethical A given behaviour may be: - ethical and illegal What is the philosophy of jeitinho mean To find a way What shapes our lives and contributes to our ethical beliefs? School, peers, the media, parents, other adults People can rationalize almost any behaviour as ____ Ethical Managerial ethics is: The standards of behaviour that guide individual managers in their work. There are three broad categories of managerial ethics: -Behaviour toward employees What is PIPEDA? Personal Information Protection and Electronics Documents Act? It requires organizations to obtain consent before they collect use or disclose information about individuals. What is conflict of interest? Occurs when an activity benefits the employee at the expense of the employer. What are other economic agents? Customers, competitors, stockholders, suppliers, dealers, and unions What are the three steps in the three step model to assess unethical behaviour? - Gather the relevant factual information What are the four commonly used ethical norms we can apply to make an ethical decision? Utility, Rights, Justice, and Caring ______ . Does a particular act optimize what is best for those who are affected by it? Utility _____. Does it respect the rights of the individuals involved? Rights _____. Is it consistent with what we regard to be fair? Justice
_____. Is it consistent with peoples responsibilities to each other? Caring What three general factors have been identified as important in understanding why unethical behaviour occurs? Pressure, opportunity, and rationalization How do organizations reduce the chance of unethical behaviour?
They should demonstrate top management commitment to ethical standards, adopt written codes of ethics, and provide ethics training for employees. A written code of ethics formally acknowledges that a company intends to do business in an _____ manner Ethical How many of Canada's largest corporations have codes of ethics? About 2/3 If _________ are to be effective there must be a control system and consistent enforcement when unethical behaviour occurs Codes of ethics More and more firms are doing what to ensure ethical behaviour? Providing ethics training What is corporate social responsibility? The idea that a business should balance its commitments to individuals and groups that are directly affected by the organizations activities. Business firms that want to meet rigorous standards for social and environmental responsibility can be certified by ______ B Corp What do critics of business sponsored social programs argue? That companies lack the expertise needed. They believe that technical experts, not businesses, should decide how best to clean up a polluted river, for example. If a business qualifies, they are certified as a B Corp by the non profit B lab. How many B Corp companies are in Canada? About 175 One view called __________ is that a company's only responsibility is to make as much money as possible for its shareholders as long as the company doesn't break any laws. Managerial capitalism What is the fair trade movement? A movement designed to help workers in developing countries receive fair payments for their work. What is an example of social responsibility in action? The fair trade movement What is the fair trade movement motivated by? That workers are not being treated fairly in developing countries, that they are not receiving fair payment, and that illegal child labour is being used to produce products What helps companies understand, manage, and communicate the social value of their activities for stakeholders? The Social Return in investment What is Fairtrade labelling organizations international? (Flo) A global non profit network of fair trade groups that work with cooperatives that represent producers of products such as coffee and chocolate. They establish standards for the producers products and operations and enforce child labour laws. Organizational stakeholders are Groups, individuals, and organizations that are directly affected by the practices of an organization and that therefore have a stake in its performance. Companies that strive to be socially responsible usually focus on the following stakeholders: Customers, employees, investors, suppliers and local communities and a concern for the natural environment. What are the three key areas regarding the social responsibility of business toward customers? Consumer rights, unfair pricing, and ethics in advertising What is consumerism? A movement dedicated to protecting the rights of consumers in their dealings with businesses. Consumers have the following rights: -The right to sage products Truth in advertising means Claims must be demonstrably true Stealth advertising occurs when Companies pay individuals to extol the virtues of their products to other individuals Morally Objectionable Advertising involves Portrayals of individuals or products that offend customers sense of decency. Advertising of counterfeit brands is a problem for many different product lines including: Perfume, luggage, pharmaceuticals, designer clothing, shoes, cigarettes, watches, sports memorabilia, golf clubs, and fine wines Socially responsible companies hire and promote workers without regard to Race, sex, or other irrelevant factors, they also do not tolerate sexual harassment, they emphasize employees mental health, promote a work life balance among employees, and pay a living wage Progressive companies go beyond legal requirements and hire Hardcore unemployed, those who have disabilities Businesses have a social responsibility to the privacy of their employees true or false True What is a whistle blower An individual who calls attention to an unethical, illegal, or socially irresponsible practice on the part of a business or other organization. One study of whistle blowers found that About half of them eventually get fired and about half of those who get fired subsequently lose their homes and/or families Federal legislation to protect whistle blowers was introduced into Canada in 2003 Financial mismanagement can take many forms including Improper financial management, misrepresentation of finances, cheque kiting, and insider trading. What does cheque kiting involve? Writing a cheque from one account, depositing it in a second account, and then immediately spending money from the second account while the money from the first account is still in transit. A cheque from the second account can also be used to replenish the money in the first account, and the process starts all over again. What is insider trading? The use of confidential information to gain from the purchase of or sale of stock. Why is it hard to prove insider trading? Evidence is often circumstantial What is pollution? The introduction of harmful substances into the environment
Controlling ______ is a significant social responsibility challenge for business firms. Pollution When does air pollution result? When a combination of factors lowers air quality. What is a carbon tax? a tax on fossil fuels, especially those used by motor vehicles, intended to reduce the emission of carbon dioxide. Businesses can also buy carbon credits if they go above their limit of carbon use from the government. What is recycling? The reconversion of waste materials into useful products. Under the Canadian and Ontario Environmental Protections Act land pollution liability can run as high as _______ per day.
$2 million What is greenwashing? Claiming that a product has environmental benefits when they don't What does CSR mean? corporate social responsibility What are the four approaches to social responsibility? Lowest level of responsibility- Obstructionist stance Highest level of responsibility- Businesses that take an ______ to social responsibility do as little as possible to solve social or environmental problems. Obstructionist Stance An organization adopting a ________ will do everything required of it legally but nothing more. Defensive stance A firm that adopts an ________ meets its legal and ethical requirements but also goes further in certain cases. Accommodative stance Firms that adopt a _________ take heart the arguments in favour of CSR. They view themselves as good citizens of society and they proactively seek opportunities to contribute. Proactive stance The management of social responsibility programs can be done at both ____ and _____ levels. Formal and informal At the _______ top management states strong support for CSR and makes it a factor in strategic planning. Without the support of top management no program can succeed. Formal level All of the organization's formal activities are summarized in a _________ which is a systematic analysis of how a firm is using funds earmarked for its social responsibility goals and how effective these expenditures have been Social audit What is social audit? A systematic analysis of how a firm is using funds earmarked for social responsibility goals and how effective these expenditures have been. What is sustainable development? Activities that meet current needs but will not put future generations at a disadvantage when they try to meet their needs. The ________ list of the most sustainable corporations in the world is based on factors like energy productivity (the ratio of sales to energy consumption) and water productivity (sales to water usage) Global 100 At the ________ the culture of the organization is very important in either inhibiting or facilitating social responsibility activities. Although members of the organization may not actually talk much about the culture it can have a strong influence on their attitudes and behaviour, including their view of social responsibility. Informal level Whistle blowing behaviour is another facet of _________ that can enhance social responsibility. Informal activities What is a big issue facing small businesses and social responsibility? Finances- can't afford to be socially responsible Students also viewedBusiness Essentials Chapter 657 terms befvn Chapter 4 Business Essentials21 terms Misty_Poe The Office: Chapter 3 & 430 terms ladonnalavalle Business Essentials Chapter 1368 terms floyd2017 Sets found in the same folderBusiness Essentials Chapter 2104 terms robin_wilson3092 Business Essentials Chapter 4 and 5209 terms robin_wilson3092 Intro to business chapters 6 - 10204 terms robin_wilson3092 Business Essentials Chapter 1168 terms robin_wilson3092 Other sets by this creatorFrench179 terms robin_wilson3092 ITB chapters 6 -9 things to know278 terms robin_wilson3092 ITB Mid-Term 2147 terms robin_wilson3092 Study Notes4 terms robin_wilson3092 Verified questions
finance The owner of each horse stable listed below buys bales of hay and bags of feed each month. In May, hay cost $2.50 per bale and feed cost$7.95 per bag. In June, the cost per bale of hay was $3.00 and the cost per bag of feed was$6.75. $$ \begin{matrix} \text{Stables} & \text{Bales of Hay} & \text{Bags of Feed}\\ \text{Galloping Hills} & \text{45} & \text{5}\\ \text{Amazing Acres} & \text{75} & \text{9}\\ \text{Fairwind Farms} & \text{135} & \text{16}\\ \text{Saddle-Up stables} & \text{90} & \text{11}\\ \end{matrix} $$ How much more were the total costs in June for Fairwind Farms than the total costs in May for GaIIoping Hills? Verified answer
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economics Suppose the following graph shows Tanzania’s production possibilities frontier (PPF) for cashew nuts and mangoes. Assume that the output per hour of work is 8 bushels of cashew nuts or 2 bushels of mangoes and that Tanzania has 1,000 hours of labor. Without trade, Tanzania evenly splits its labor hours between cashews and mangoes and produces and consumes at point A. With trade, is Tanzania producing on its PPF? With trade, is Tanzania consuming on its PPF? Verified answer Recommended textbook solutionsBusiness Math17th EditionMary Hansen 3,734 solutions Mathematics with Business Applications6th EditionMcGraw-Hill Education 3,760 solutions
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