Ethics in Organizations
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Questions and Answers

Ethics are involved in decision-making at all levels within an organization.

True (A)

There are universally accepted approaches to resolving ethical issues in organizations.

False (B)

Organizational principles, values, and norms can originate from legal systems.

True (A)

Ethical decisions are made solely based on existing rules.

<p>False (B)</p> Signup and view all the answers

Values and judgments are not important in the ethical decision-making process.

<p>False (B)</p> Signup and view all the answers

Morals define a person's personal philosophies about what is right and wrong.

<p>True (A)</p> Signup and view all the answers

Principles are flexible guidelines that can be changed according to the situation.

<p>False (B)</p> Signup and view all the answers

Values are temporary beliefs that can easily shift over time.

<p>False (B)</p> Signup and view all the answers

Human rights are considered a type of principle.

<p>True (A)</p> Signup and view all the answers

Trust and integrity are examples of morals.

<p>False (B)</p> Signup and view all the answers

Misuse of company resources refers to the inappropriate use of assets owned by the company.

<p>True (A)</p> Signup and view all the answers

Accounting fraud is categorized as a minor offense in workplace misconduct.

<p>False (B)</p> Signup and view all the answers

Employee theft includes stealing physical items from the workplace.

<p>True (A)</p> Signup and view all the answers

Harassment in the workplace can be limited to only physical actions.

<p>False (B)</p> Signup and view all the answers

Bribery is a form of workplace misconduct that can compromise ethical standards.

<p>True (A)</p> Signup and view all the answers

Having good individual morals is sufficient to prevent ethical misconduct in business.

<p>False (B)</p> Signup and view all the answers

The Protestant work ethic promoted frugality and hard work as essential components for success in capitalism.

<p>True (A)</p> Signup and view all the answers

Before 1960, there was significant focus on theological discussions related to business ethics.

<p>True (A)</p> Signup and view all the answers

Business ethics decisions are always straightforward and easy to resolve.

<p>False (B)</p> Signup and view all the answers

Catholic social ethics addressed issues such as workers' rights and living wages.

<p>True (A)</p> Signup and view all the answers

The Consumer Bill of Rights established in the 1960s included the right to profitability.

<p>False (B)</p> Signup and view all the answers

Corporate social responsibility in the 1970s emphasized maximizing positive impacts on stakeholders.

<p>True (A)</p> Signup and view all the answers

By the 1980s, business ethics was widely recognized as an accepted field of study.

<p>True (A)</p> Signup and view all the answers

Ralph Nader played a minor role in influencing business ethics during the 1960s.

<p>False (B)</p> Signup and view all the answers

The rise of social issues in business occurred primarily in the 1980s.

<p>False (B)</p> Signup and view all the answers

The 1960s marked the beginning of significant ethical discussions in businesses due to increased consumerism.

<p>True (A)</p> Signup and view all the answers

Corporate social responsibility primarily focuses on maximizing profits for shareholders.

<p>False (B)</p> Signup and view all the answers

The establishment of ethics committees in the 1980s indicated a growing acknowledgment of business ethics.

<p>True (A)</p> Signup and view all the answers

John F. Kennedy's Consumer Bill of Rights included the right to privacy as one of its core components.

<p>False (B)</p> Signup and view all the answers

The 1970s saw the inception of business ethics as a distinct field of study.

<p>True (A)</p> Signup and view all the answers

The Sarbanes-Oxley Act, enacted in 2002, increased regulations related to accounting.

<p>True (A)</p> Signup and view all the answers

The 1990s saw a decline in the institutionalization of business ethics.

<p>False (B)</p> Signup and view all the answers

Health-related issues began to be more regulated by federal guidelines in 1990.

<p>False (B)</p> Signup and view all the answers

A company can potentially reduce penalties through preventative actions against misconduct.

<p>True (A)</p> Signup and view all the answers

Public demand for improved ethical standards has decreased in the 21st century.

<p>False (B)</p> Signup and view all the answers

Employees who are engaged with their organization are likely to contribute to its overall commitment.

<p>True (A)</p> Signup and view all the answers

A company's reputation has no impact on investor loyalty.

<p>False (B)</p> Signup and view all the answers

Negative publicity can jeopardize a company's long-term viability.

<p>True (A)</p> Signup and view all the answers

Employees are primarily concerned with ethical standards in the workplace rather than their immediate benefits.

<p>False (B)</p> Signup and view all the answers

An ethical culture within a company is linked to its efficiency and productivity.

<p>True (A)</p> Signup and view all the answers

Companies that are socially responsible tend to have higher customer trust and satisfaction.

<p>True (A)</p> Signup and view all the answers

Profit is not necessary for companies to fulfill their responsibilities.

<p>False (B)</p> Signup and view all the answers

Ethics in business have transitioned from being just a compliance standard to an essential part of business strategy.

<p>True (A)</p> Signup and view all the answers

Ethical conduct has no significant impact on a company's competitive position or profits.

<p>False (B)</p> Signup and view all the answers

Customer satisfaction is irrelevant to a business's overall success.

<p>False (B)</p> Signup and view all the answers

Flashcards

Business Ethics

The application of ethical principles to business practices.

Ethical Decision-Making

Balancing values when existing rules are inadequate.

Organizational Principles

The guiding values and norms for a business.

Ethical Dilemmas

Situations where ethical rules don't fully apply.

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Universal Standards

General acceptability of business practices across cultures.

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Morals

Personal beliefs about right and wrong.

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Principles

Specific rules for behavior, like human rights.

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Values

Important beliefs upheld by society.

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Norms

Socially enforced values, like teamwork.

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Behavior Principles

Rules of action that shouldn't be broken.

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Workplace Misconduct

Unethical or illegal behavior in a professional setting.

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Resource Misuse

Using company resources for personal gain or in unacceptable ways.

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Abusive Behavior

Harassing or bullying actions towards colleagues.

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Accounting Fraud

Deliberate deception in financial record-keeping.

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Conflicts of Interest

Situations where personal interests clash with professional duties.

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1960s Business Ethics

The 1960s saw increasing social concerns about business practices and the rise of consumer activism, leading to the 'Consumer Bill of Rights'.

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Consumer Bill of Rights

JFK's proposal for consumer rights, including safety, information, choice, and expression.

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Corporate Social Responsibility (CSR)

A business's obligation to maximize positive impacts and minimize negative impacts on stakeholders.

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1970s Business Ethics

Business ethics became a recognized field, with a focus on corporate social responsibility.

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1980s Business Ethics

Business ethics matured as a field with companies establishing ethics committees and the growing presence of ethics centers.

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Ethics Training's Purpose

Helps diverse organizations develop a shared understanding of ethical behavior and decision-making.

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Before 1960: Ethics Discussions

Early discussions on business ethics focused on moral principles from a theological perspective.

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Catholic Social Ethics

A branch of ethics concerned with moral issues in business, worker rights, and fair wages.

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Protestant Work Ethic: Success

Encouraged hard work, frugality, and success within the capitalist system.

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JFK's Consumer Bill of Rights

A set of four basic consumer rights proclaimed by President John F. Kennedy in 1962, including the right to safety, be informed, choose, and be heard.

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Consumer Protection Groups

Organizations advocating for consumer rights, pushing for legislation changes to protect consumers from unfair business practices.

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Corporate Social Responsibility

The idea that businesses have an obligation to act ethically and contribute positively to society, minimizing negative impacts on stakeholders.

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Ethics Committees

Groups within an organization responsible for promoting ethical behavior, resolving ethical dilemmas, and reviewing ethical policies.

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Business Ethics Evolution

The development of business ethics as a field, driven by increasing social, political, and legal pressures for responsible business practices.

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FSGO

The Federal Sentencing Guidelines for Organizations, a law enacted in 1991 that increased regulations for health-related issues in businesses.

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Carrot and Stick Approach

A strategy used in compliance to motivate ethical behavior by offering rewards for good conduct ('carrot') and penalties for misconduct ('stick').

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Sarbanes-Oxley Act

A law passed in 2002 that aimed to improve corporate accounting practices and increase financial transparency in response to major corporate scandals.

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21st Century Business Ethics

This period is marked by a continued struggle against corporate non-compliance and an increase in public and political pressure for greater ethical standards.

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Employee Commitment

Employees' dedication and willingness to contribute to the organization's success, often involving personal sacrifices.

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Safe Work Environment

A workplace free from physical and psychological harm, promoting employee well-being and productivity.

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Investor Loyalty

Confidence and trust investors place in a company's ethical practices and long-term viability.

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Ethical Culture

A company's shared values and beliefs that guide ethical behavior, fostering trust, efficiency, and profitability.

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Negative Publicity Threat

The potential damage to a company's reputation and financial stability caused by unethical actions.

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Customer Satisfaction

A measure of how happy customers are with a company's products or services. Satisfied customers are more likely to return and recommend the company.

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Social Responsibility

A company's commitment to acting ethically and contributing to society's well-being, beyond just making a profit.

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Competitive Advantage

What makes a company stand out from its competitors and attract customers. Ethical behavior can be a key part of this.

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Ethics in Business

The application of moral principles to business decisions and practices. It's about doing the right thing, even when it's not easy.

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Profit and Responsibility

Companies need to make profits to stay in business, but they also have a responsibility to act ethically and contribute to society.

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Study Notes

Chapter #1: Introduction to Business Ethics

  • Ethics are a part of decision-making at all levels
  • Questions and principles
  • Ethics are important, whether universally accepted or not
  • there are issues, norms, beliefs etc that need to be considered and addressed

Definition of ethics

  • Morals: Refers to a person's personal philosophies about what is right and wrong.
  • Principles: Specific and pervasive boundaries for behavior that should not be violated (human rights, freedom of speech, and justice).
  • Values: Norms, beliefs, and ideals that are socially enforced. (Honesty and integrity)

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Description

This quiz explores the role of ethics in organizational decision-making. It covers key concepts such as morals, values, principles, and the implications of ethical issues in the workplace. Additionally, it examines how these concepts relate to workplace misconduct and stakeholder trust.

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