Management-Chapter 5 Flashcards

1
Q

Ethics

A

The code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong.

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2
Q

Ethical Dilemma

A

A solution in which all alternative choices or behaviors have potentially negative consequences. Right or wrong cannot be clearly distinguished.

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3
Q

Utilitarian Approach

A

The approach to ethical decision making says that the ethical choice is the one that produces the greatest good for the greatest number.

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4
Q

Individualism Approach

A

The approach that suggests that actions are ethical when they promote the individual’s best long-term interests, because with everyone pursuing self-interest, the greater good is ultimately served.

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5
Q

Moral Rights Approach

A

Holds that ethical Decisions are those that best maintain the fundamental rights of the people affected by them.

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6
Q

Justice Approach

A

Ethical Decisions must be based on standards of equity, fairness and impartiality.

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7
Q

Distributive Justice

A

Requires that different treatment of individuals not be based on arbitrary characteristics.

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8
Q

Procedural Justice

A

Holds that rules should be clearly stated and consistently and impartially enforced.

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9
Q

Compensatory Justice

A

argues that individuals should be compensated for the cost of their injuries by the party responsible, and individuals should not be held responsible for matters over which they had no control.

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10
Q

Virtue Ethics Approach

A

Says that moral behavior stems from personal virtues.

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11
Q

Practical Approach

A

Sidesteps debates about what is right, good or just and bases decisions on prevailing standards of the profession and the larger society, taking the interest of all stakeholders into account.

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12
Q

Corporate Responsibility

A

Refers to the obligation of organizational managers to make choices and take actions that will enhance the welfare and interest of society as well as the organization.

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13
Q

Stakeholder

A

Refers to any group within or outside the organization that has a stake in the organization’s performance.

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14
Q

Sustainability

A

Refers to economic development that generates wealth and meets the needs of the current population while preserving the environment for the needs of future generations.

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15
Q

Discretionary Responsibility

A

Purely voluntary and is guided by the organization’s desire to make social contributions not mandated by economics, laws and ethics.

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16
Q

Code of Ethics

A

A formal statement of the organization’s values regarding ethics and social issues.

17
Q

Ethics Committee

A

A group of executives charged with overseeing company ethics by ruling on questionable issues and disciplining.

18
Q

Chief Ethics Officer

A

A manager who oversees all aspects of ethics and legal compliance.

19
Q

Ethics Training

A

Used to help employees deal with ethical questions and translate the values stated in a code of ethics into everyday behavior.

20
Q

Whistle-Blowing

A

The disclosure by employees of unethical, illegitimate or illegal practices by the organization.