Triple Bottom Line Overview
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Questions and Answers

What is the flaw in the approach of prioritizing short-term self-gain?

  • It often benefits the employee more than the employer.
  • It can lead to long-term harm for everyone involved. (correct)
  • It may not align with the moral rights of others.
  • It disregards the importance of organizational policy.

    • What does the moral rights approach emphasize?

  • Focusing solely on consumer satisfaction.
  • Promoting competition among employees.
  • The importance of organizational profit.
  • Respecting fundamental rights shared by everyone. (correct)

    • What does the justice approach in ethical decision-making prioritize?

  • Maximizing profits for the organization.
  • Protecting employer rights over employee rights.
  • Fairness and impartial standards. (correct)
  • Encouraging whistleblowers to expose misconduct.

    • Which of the following best defines whistleblowing?

    <p>Reporting organizational misconduct to the public.</p> Signup and view all the answers

    Which of the following roles helps an organization sell its goods and services to customers?

    <p>Distributor</p> Signup and view all the answers

    Which aspect does the triple bottom line NOT emphasize?

    <p>Cultural performance</p> Signup and view all the answers

    Who are considered internal stakeholders?

    <p>Employees and board of directors</p> Signup and view all the answers

    What is the primary goal of the utilitarian approach to resolving ethical dilemmas?

    <p>To achieve the greatest good for the greatest number</p> Signup and view all the answers

    What does the term 'task environment' refer to?

    <p>Specific groups interacting regularly with the organization</p> Signup and view all the answers

    Which of the following best describes external stakeholders?

    <p>Parties outside the organization with a vested interest</p> Signup and view all the answers

    What is a common ethical conflict faced by managers?

    <p>Choosing between economic performance and social performance</p> Signup and view all the answers

    What is the primary concern of the individual approach to ethical decisions?

    <p>Focusing on an individual's long-term interests</p> Signup and view all the answers

    Which factor is NOT typically included in financial calculations regarding profitability?

    <p>Community engagement expenses</p> Signup and view all the answers

    Study Notes

    Triple Bottom Line

    • Measures an organization's social, environmental, and financial performance.
    • Emphasizes accountability to employees and the wider community (People).
    • Commits to sustainable development (Planet).
    • Recognizes costs associated with pollution and worker displacement in financial calculations (Profit).

    Stakeholders

    • Internal Stakeholders: Employees, owners, and board of directors involved in regular internal activities.
    • Board of Directors: Elected group overseeing firm activities, ensuring management acts in shareholders' best interest.
    • External Stakeholders: Parties outside the organization impacted by its decisions.

    Environments

    • Internal Environment: Stakeholders connected to the organization's internal operations.
    • Task Environment: Comprised of groups interacting frequently with the organization, including customers, competitors, suppliers, and government regulators.
    • General Environment (Macroenvironment): Broad, uncontrollable forces affecting the organization.

    Ethics

    • Standards of right and wrong influencing behavior can differ across cultures and countries.
    • Common ethical conflicts for managers involve balancing economic and social performance.
    • Ethical dilemmas arise from conflicting values held by different parties.

    Values and Ethical Decision-Making

    • Values: Permanent beliefs influencing behavior and decisions.
    • Four Approaches to Ethical Dilemmas:
      • Utilitarian Approach: Focuses on the greatest good for the greatest number, potentially harming the workforce for short-term profits.
      • Individual Approach: Considers long-term self-interest, but may not benefit everyone collectively.
      • Moral Rights Approach: Respects fundamental human rights; can lead to conflicts between employer and employee rights.
      • Justice Approach: Upholds fairness and equity, ensuring impartial handling of policies like promotions and harassment cases.

    Key Terms

    • Insider Trading: Illegal trading of a company's stock based on confidential information.
    • Whistleblower: Individual reporting organizational misconduct, such as health and safety violations or corruption.
    • Competitor: Entities vying for the same customers or resources.
    • Customer: Individuals or organizations purchasing goods or services from a business.
    • Distributor: Organizations aiding in the sale of goods and services to customers.
    • Philanthropy: The act of making charitable contributions for the benefit of society.
    • Supplier: Entities providing raw materials, services, or labor to organizations.

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    Description

    This quiz examines the triple bottom line framework, which assesses an organization's social, environmental, and financial performance. It highlights the importance of accountability to employees and the community, as well as commitments to sustainable development and profit calculations that factor in costs like pollution and worker displacement.

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