Flashcards
Chapter 7 Business Ethics
Cards in this deck (24)
- 1EthicsThe study of good and evil, right and wrong, and just and unjust.
- 2Business EthicsqThe study of good and evil, right and wrong, and just and unjust actions in business.
- 3Theory of AmoralityThe belief that business should be conducted without reference to the full range of ethical standards, restraints, and ideals in society.
- 4Theory of Moral UnityBusiness actions are judged by the general ethical standards of society, not by a special set of more permissive standards.
- 5ReciprocityA form of social behavior in which people behave supportively in the expectation that this behavior will be given in return.
- 6Major sources of ethical values in businessReligion, Culture, Philosophy, law
- 7Realist SchoolA school of thought that rejects ethical perfection, taking the position that human affairs will be characterized by flawed behavior and ought to be depicted as they are, not as we might wish them to be.
- 8Ethical UniversalismThe theory that because human nature is everywhere the same, basic ethical rules are applicable in all cultures. There is some room for variation in the way these rules are followed.
- 9Ethical RelativismThe theory that ethical values are created by cultural experience. Different cultures may create different values and there is no universal standard by which to judge which values are superior.
- 10HypernormsMaster ethical principles that underlie all other ethical principles. All variations of ethical principle must conform to them.
- 11Compensatory DamagesPayments awarded to redress actual, concrete losses suffered by injured parties.
- 12Punitive DamagesPayments in excess of a wronged party's actual losses to deter similar actions and punish a corporation that has exhibited reprehensible conduct.
- 13White-collar CrimeA nonviolent economic offense of cheating and deception done for personal or corporate gain in the course of employment.
- 14Deferred Prosecution AgreementAn agreement between a prosecutor and a corporation to delay prosecution while the company takes remedial actions.
- 15Nonprosecution AgreementAn agreement in which U.S. attorneys decline prosecution of a corporation that has taken appropriate steps to report a crime, cooperate, and compensate crimes.
- 16MonitorA person hired by a corporation to oversee fulfillment of conditions in an agreement to avoid criminal indictment.
- 17Sentencing & FinesIn 1991 the U.S. Sentencing Commission, a judicial agency that standardizes penalties for federal crimes, released guidelines for sentencing both managers and corporations. This is used by most judges. This is numerical based system.
- 18Four internal forces shaping corporate ethicsLeaders Example, Strategies/policies, Organization Culture, Individual Characteristics.
- 19Corporate CultureA set of values, norms, rituals, formal rules, and physical artifacts that exist in a company.
- 20Three levels of corporate cultureArtifacts, organizations espoused values, tacit underlying values.
- 21Ethics & Compliance ProgramA system of structures, policies, procedures, and controls used by corporations to promote ethical behavior and ensure compliance with laws and regulations.
- 22Compliance ApproachTraining employees to follow rules in laws, regulations, and policy.
- 23Ethics ApproachTraining employees to make decisions based on ethical values.
- 247 Steps for an ethical programEstablish standards & procedures; create high-level oversight; screen out criminals; communicate standards to all employees; monitor and set up a hotline; enforce standards, discipline violators; assess areas of risk, modify program.
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- Flashcards on Chapter 7 Business Ethics, created by Casey Coltran on 27/02/2019.
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- Casey Coltran
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