Podcast
Questions and Answers
What role does an ethics ombudsman serve in an organization?
What role does an ethics ombudsman serve in an organization?
Which of the following is a form of sexual harassment characterized by creating an uncomfortable work environment?
Which of the following is a form of sexual harassment characterized by creating an uncomfortable work environment?
What is one argument against social responsibility in business?
What is one argument against social responsibility in business?
How can managers create an ethical organizational culture?
How can managers create an ethical organizational culture?
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What does 'diversity' encompass in a workforce?
What does 'diversity' encompass in a workforce?
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What is the first step in addressing sexual harassment in an organization?
What is the first step in addressing sexual harassment in an organization?
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Which of the following statements reflects a positive argument for social responsibility?
Which of the following statements reflects a positive argument for social responsibility?
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What often causes individuals to engage in unethical behavior within organizations?
What often causes individuals to engage in unethical behavior within organizations?
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What is an ethical dilemma primarily characterized by?
What is an ethical dilemma primarily characterized by?
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Who are considered stakeholders in a company?
Who are considered stakeholders in a company?
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Which ethical rule focuses on the greatest good for the greatest number?
Which ethical rule focuses on the greatest good for the greatest number?
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What does the Justice Rule emphasize when making an ethical decision?
What does the Justice Rule emphasize when making an ethical decision?
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What is a key reason why managers should behave ethically?
What is a key reason why managers should behave ethically?
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Which of the following questions is part of the Practical Decision Model?
Which of the following questions is part of the Practical Decision Model?
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What outcome can result from the relentless pursuit of self-interest in a business setting?
What outcome can result from the relentless pursuit of self-interest in a business setting?
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Which ethical rule would make someone hesitant to share a decision with the public?
Which ethical rule would make someone hesitant to share a decision with the public?
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Study Notes
Ethics and Ethical Dilemmas
- Ethics are guiding principles, values, and beliefs used to determine proper behavior.
- Ethical dilemmas arise when choices must be made that help others but conflict with personal gain.
Stakeholders and Stockholders
- Stakeholders are individuals or groups with a stake in a company.
- Stockholders are owners of company stock and expect ethical management.
Stakeholders and Ethics
- Stakeholders are impacted by organizational actions and care about ethical practices.
- Managers often balance competing stakeholder interests.
Four Ethical Rules
- Moral Rights Rule: Decisions should protect fundamental rights.
- Utilitarian Rule: Decisions should maximize overall good.
- Justice Rule: Decisions should distribute benefits and harms fairly.
- Practical Rule: Decisions should be communicable and acceptable to the public.
Practical Decision Model
- Decisions should align with current business standards.
- Decisions should be communicable to all stakeholders.
- Decisions should be personally acceptable.
Why Managers Should Behave Ethically
- Ethical behavior fosters trust and reputation.
- Unethical behavior can lead to collective disaster when it becomes widespread.
Why Managers Might Behave Unethically
- Prioritizing personal interests over stakeholders.
- Considering harm to stakeholders insignificant.
- Feeling pressured by circumstances.
Ethical Organizational Cultures
- Organizations can promote ethical values and norms.
- Managers are ethical role models observed by subordinates.
- Ethics ombudsmen monitor ethical practices.
Diversity in the Workforce and Environment
- Diversity encompasses various differences amongst people, including age, gender, race, ethnicity, religion, background, experience, and capabilities.
Forms of Sexual Harassment
- Quid Pro Quo: Trading favors for advantages or avoiding consequences.
- Hostile Work Environment: Creating an unpleasant workplace through unwelcome sexual behavior.
Steps to Eradicate Sexual Harassment
- Establish and communicate a clear policy.
- Implement fair complaint procedures.
- Promptly address any incidents that occur.
- Provide comprehensive training on sexual harassment.
Social Responsibility
- Social responsibility involves incorporating societal well-being into business decision-making.
- Decisions should prioritize the general welfare of society.
Arguments For Social Responsibility
- Ethical behavior is essential.
- Businesses should contribute to society.
- Social responsibility can boost financial performance.
- Ignoring social responsibility can invite opposition.
Arguments Against Social Responsibility
- Businesses should only focus on profit maximization.
- Social issues are not management's concern.
- Shareholders can decide on social investments directly.
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Description
Explore the fundamental concepts of ethics and ethical dilemmas in the business context. This quiz covers key principles, stakeholder impacts, and ethical decision-making rules that influence organizational behavior. Test your understanding of how ethics guides business practices!
