Flashcards
mgmt ch 3 and 4
Cards in this deck (51)
- 15 benefits of ethical conduct-stronger fins
-greater sales/image
-increased loyalty
-less activism pressure
-less legal problems - 23 things culture must have-shared by majority of pop
-passed on gen to gen
-shape behaviors, decisions, perceptions - 3employment at willemployers can fire anyone for any reason at any time
- 4Sarbanes-Oxley Act-imposes auditing, fin disclosure, gvmnt reqs on publicly traded companies
-new employment rights
-protect whistleblowers - 54 actions needed for ethical org-formal ethics system
-communicate ethical expectations
-include ethics as performance measure
-make it acceptable to talk about ethics - 68 principles of CitiGroup code of conduct-fiduciary
-property
-reliability
-transparency
-dignity
-fairness
-citizenship
-responsiveness - 7stages of moral development and whoindividuals evolve through phases from obedience/punishment to universal ethical
Lawrence Kohlberg - 8obedience/punishment stagepeople do right thing to avoid punishment/obtain approval
- 9instrumental stagepeople are aware of others needs and defer to them
- 10interpersonal stagepeople consider their behavior in terms of friends/family approval
- 11law and order stagepeople recognize doing one's duty and maintaining social order
- 12social contract stageviews go beyond law, can be changed if necessary
- 13universal principle stageappropriate conduct in relation to ones conscience
- 14code of ethics and who requiresprinciples employees should follow
-NYSE and Nasdaq - 154 questions of whistleblowers-is this the only way
-do I have the evidence
-why am I doing this
-am I ready - 16utilitarian approach + 3 areasfocuses on behaviors and their results, not motives
considers alternatives
-achieving org goals
-efficiency
-conflicts of interest - 17advocate of utilitarian approachMilton Friedman
- 18achieving org goalshigh profit = highest quality w/ lowest cost to consumers
- 19efficiencyminimizing inputs and maximizing outputs
- 20conflicts of interestno one should have personal interests that conflict w/ orgs goals
- 21moral rights approach + 4 core elementsdecisions should be consistent with fundamental rights and privileges (B of R)
-life and safety
-truthfulness
-privacy
-freedoms of conscience and speech - 22life and safety and associated legislationright not to have lives unknowingly endangered
-OSHA 1970 - 23truthfulnessright not to be intentionally deceived
- 24caveat emptorbuyer beware
- 25privacyright to control access to personal info
- 26privacy act of 1974restricts use of certain types info by fed gov and limits who can see it
- 27freedom of conscience and speechright to refrain from orders that violate moral/religious beliefs
- 28justice approach + 3 principlesevaluates decisions and behavior with regard to how equally they distribute benefits
-distributive justice
-fairness
-natural duty - 29DJ principleindividuals should not be treated differently based on characteristics
- 30fairness principlerequires employees to support rules of org as long as org is just
- 31natural duty principledecisions and behaviors be based on universal principles associated with being responsible member of society
- 324 universal duties-help others in need
-not to harm/injure
-not to cause unnecessary suffering
-to support/comply with just institutions - 33stakeholder social responsibilitymgmt/employees have obligations to groups that are affected by orgs goals
- 344 major themes social performance/responsibility-disclosure
-communication and engagement
-proactive mgmt
-creating shareholder value - 35general environment/macroenvironmentexternal factors that affect all orgs
- 366 areas of GE-demographics
-politics
-competitors
-country cultural values
-economy
-technology - 37Thomas Friedman's 6 important mgmt trends(old)-value matters(low cost manufacturing)
-outsourcing(self-reliance)
-borderless competition(Made inUSA)
-customer convenience(local knowledge)
-human capital(physical labor)
-environmental stewardship(smoke stack) - 38value systemcomprises multiple beliefs that are compatible and supportive w/ one another
- 395 ways value affect mgmt-interpersonal relationships
-perceives situations and problems
-goes about problem solving
-determines ethical behavior
-leads and controls employees - 40power distancedegree to which less powerful members of society accept the influence is unequally divided
- 41uncertainty avoidanceextent to which members of a culture feel threatened by risky/unknown situations
- 42individualismdegree to which society expects someone to take care of themselves
- 43collectivismtight social framework in which members focus on common good
- 44gender role orientationextent to which society enforces gender norms
- 45long term orientationways in which culture stresses delayed gratification of needs(thrift)
- 465 competitive forces in industry-competitors
-new entrants
-substitute goods
-customers
-suppliers - 47backwards integrationpurchase of suppliers by org as cost cutting measure
- 48Equal Credit Opportunity Actentitles customer to be considered for credit regardless of gender, race, religion, etc
- 49Truth in Lending Actcredit grantors must reveal true costs of using credit ex. annual IR
- 505 reasons alliances are used-oppose/support legislation
-improve competitiveness
-promote products/services
-construct facilities too big for one org
-represent interests of one specific group - 51options IT has created-smaller manufacturing plants
-shop online
-record books easier
-online banking
-videoconferencing
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- Flashcards on mgmt ch 3 and 4, created by Max Davis on 27/02/2018.
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- Max Davis
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