Exam 1 Study Guide answers
BA 374
Exam #1 Study Guide
Chapter 5 --- Ethics and Social Responsibility
Pgs. 140-141 --- managerial ethics- the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong. ethical dilemma- a situation that arises when all alternatives choices or behaviors are deemed undesirable because of potentially negative consequences, making it difficult to distinguish right from wrong.
Pgs. 142-144 --- criteria for ethical decision making Exhibit 5.2 (p. 146) -
Utilitarian approach- the ethical concept that moral behaviors produce the greatest good for the greatest number.
Individualism approach- the ethical concept that acts are moral when they promote the individual's best long-term interests, which ultimately leads to the greatest good.
Moral-Rights approach- ethical concept that moral decisions are those that best maintain the rights of those people affected by them.
Justice approach- ethical concept that moral decisions must be based on standars of equality, fairness, and impartiality.
Preconventional- follows rules to avoid punishment
Conventional- follows rules to meet expectations of others
Principled- follows self-chosen ethical principles
Pgs. 150-151 --- corporate social responsibility- management's obligation to make choices and take actions that will contribute to the welfare and interests of society as well as the organization.
Stakeholders- any group within or outside the organization that has a stake in the organization's performance.
Pgs. 155-157 --- evaluating corporate social responsibility Exhibit 5.7 (p. 155)- four criteria
Economical responsibility – be profitable
Legal responsibility – obey the law
Ethical responsibility – be ethical, do what is right, avoid harm
Discretionary responsibility – contribute to the community and quality of life
Pgs. 157-161 --- managing company ethics and social responsibility-
Ethical individuals – integrity, honesty, inspire trust, treat people right
Exam #1 Study Guide
Chapter 5 --- Ethics and Social Responsibility
Pgs. 140-141 --- managerial ethics- the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong. ethical dilemma- a situation that arises when all alternatives choices or behaviors are deemed undesirable because of potentially negative consequences, making it difficult to distinguish right from wrong.
Pgs. 142-144 --- criteria for ethical decision making Exhibit 5.2 (p. 146) -
Utilitarian approach- the ethical concept that moral behaviors produce the greatest good for the greatest number.
Individualism approach- the ethical concept that acts are moral when they promote the individual's best long-term interests, which ultimately leads to the greatest good.
Moral-Rights approach- ethical concept that moral decisions are those that best maintain the rights of those people affected by them.
Justice approach- ethical concept that moral decisions must be based on standars of equality, fairness, and impartiality.
Preconventional- follows rules to avoid punishment
Conventional- follows rules to meet expectations of others
Principled- follows self-chosen ethical principles
Pgs. 150-151 --- corporate social responsibility- management's obligation to make choices and take actions that will contribute to the welfare and interests of society as well as the organization.
Stakeholders- any group within or outside the organization that has a stake in the organization's performance.
Pgs. 155-157 --- evaluating corporate social responsibility Exhibit 5.7 (p. 155)- four criteria
Economical responsibility – be profitable
Legal responsibility – obey the law
Ethical responsibility – be ethical, do what is right, avoid harm
Discretionary responsibility – contribute to the community and quality of life
Pgs. 157-161 --- managing company ethics and social responsibility-
Ethical individuals – integrity, honesty, inspire trust, treat people right