Final Flashcards Preview

Business Foundations > Final > Flashcards

Flashcards in Final Deck (78)
Loading flashcards...

an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical.

Business ethics


an ethical framework which suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. It's a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems.

Social responsibility


-Time theft
-Use of personal email and social networks
-Stealing office supplies
-Unauthorized use of equipment and software

Misuse of Resources (most common ethical issues seen in the workplace)


Spreading rumors
Abuse of authority
Discrediting others' ideas
Insults, yelling and shouting
Discriminatory terminology
Taking credit for others' work

Abusive behavior (ethical issues seen in the workplace)


-Advance personal interest over others' interests
-Benefit self at the expense of the company
-Bribes represent a conflict of interest because they benefit an individual at the expense of an org or society

Conflict of interest (ethical issues seen in the work place)


-How employees use resources
-No deceit, coercion or misrepresentations
-Fair competition
-Disclosure of potential harm caused by products

Fairness and Honesty (ethical issues seen in the work place)


-False/misleading advertising
-Deceptive personal selling tactics
-Truthfulness in product safety and quality
-Unsubstantiated claims
-Product labeling
(ex: food advertisements vs. what they look like in real life)

Communications (ethical issues seen in the work place)


Relationships with customers, suppliers and co-workers
Keeping company secrets
Meeting obligations
Avoiding undue pressure
Managers' responsibility to create ethical work environment and provide a positive example.

Business relationships (ethical issues seen in the workplace)


Individual Standards & Values+
Managers' & Co-workers' Influence+Opportunity
(Rules & Requirements)=
Ethical or Unethical Choices

The ethical equation


A written set of guidelines issued by an organization to its workers and management to help them conduct their actions in accordance with its primary values and ethical standards.

code of ethics


Some business ethics decisions are governed by laws. For example, the Dodd-Frank Act is supposed to lower risk in various parts of the U.S. financial system.

Laws and regulations


Occurs when an employee exposes an employer's wrongdoing to outsiders.
Many companies have internal reporting mechanisms in place.
Whistleblowers are often treated negatively and have a difficult time finding other work.



the extent to which businesses meet the legal ethical, economic, and voluntary responsibilities placed on them by their stakeholders

corporate citizenship


is the attempt to draw upon business techniques to find solutions to social problems

social entrepreneurship


An inner drive that directs a person's behavior toward goals.



An employee's attitude about his or her job, employer and colleagues



engaging in behavior because it is personally rewarding

Intrinsic reward (internal)


engaging in behavior to earn a reward or avoid a punishment

extrinsic reward (external)


says money is the sole motivator of employees.

classical theory of motivation


Revealed that human factors influence workers' behavior.

hawthorne studies


Traditional view where managers assume that workers generally dislike work and must be forced to do their jobs.

Theory X (mcgregors theory)


Humanistic view where managers assume that workers like to work and under proper conditions will seek out responsibility.

Theory Y (McGregors Theory)


How much people are willing to contribute to an organization depends on their assessment of the fairness, or EQUITY, of the rewards they will receive in exchange.

equity theory


Says that motivation depends not only on how much a person WANTS something but also on that person's perception of how likely he or she is to get it.

Expectancy Theory


Changing behavior and encouraging appropriate actions by relating the consequences (rewards and punishment) to the behavior itself.

Behavior Modification


Allows employees to move from one job to another in an effort to relieve boredom of job specialization.

job rotation


Adds more tasks to a job instead of treating each task as separate.

job enlargement


Incorporates motivation factors such as opportunity for achievement, recognition and advancement into a job. Provides more control and authority.

job enrichment


Non-traditional workweek schedule that may include compressed workweeks, flextime, job sharing, part-time work and telecommuting.

flexible scheduling


HRM refers to all the activities involved in determining an organization's human resources needs (and filling those needs).

human resources