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Texas State - MGT 3303 - Class Notes - Week 4

Created by: Cassandra Notetaker Elite Notetaker

Schools > Texas State University > Business Management > MGT 3303 > Texas State - MGT 3303 - Class Notes - Week 4

Texas State - MGT 3303 - Class Notes - Week 4

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background image Chapter 4: Ethics and Corporate Responsibility
Ethics­ the moral principles and standards that guide the behavior of an individual or group
Managers Often: Hire people who are like them Think they are immune to conflicts of interest Take more credit than they deserve Blame others when they deserve some blame themselves Ethical Issue­ a situation, problem, or opportunity in which an individual must choose among 
several actions that must be evaluated as morally right or wrong
Business Ethics­ the moral principles and standards that guide behavior in the world of business
Ethical Systems Moral Philosophy­ principles, rules, and values people use in deciding what is right or  wrong Universalism­ the ethical system stating that all people should uphold certain values that  society needs to function Egoism­ an ethical principle holding that individual self­interest is the actual motive of  all conscious action Relativism­philosophy that bases ethical behavior on the opinions and behaviors of  relevant other people Utilitarianism­ an ethical system stating that the greatest good for the greatest number  should be the overriding concern of decision makers Virtue Ethics­ perspective that what is moral comes from what a mature person with  “good” moral character would deem right Caux Principles Kyosei­ living and working together for the common good, allowing cooperation and  mutual prosperity to coexist with healthy and fair competition Human Dignity­ concerns the value of each person as an end, not a means to the  fulfillment of others’ purposes Caux Principles­ ethical principles established by international executives based in Caux,  Switzerland, in collaboration with business leaders from Japan, Europe, and the United 
States
background image Sarbanes­Oxley Act­ an act that established strict accounting and reporting rules to make senior 
managers more accountable and to improve and maintain investor confidence
Ethical Climate­ in an organization, the processes by which decisions are evaluated and made 
on the basis of right and wrong
Ethical Dilemmas­ CEO pay, commercialization in schools, religion at work, sweatshops, and 
raising minimum wage
Ethics Programs
Compliance­Based Ethics Programs­ company mechanisms typically designed by  corporate counsel to prevent, detect, and punish legal violations Integrity­Based Ethics Programs­ company mechanisms designed to instill in people a  personal responsibility for ethical behavior Ethical Decision Making Moral Awareness­ realizing the issue has ethical implications Moral Judgment­ knowing what actions are morally defensible Moral Character­ the strength and persistence to act in accordance with your ethics  despite the challenges Corporate Social Responsibility Economic­ to produce goods and services that society wants at a price that perpetuates  the business and satisfies its obligations to investors Ethical­ meeting other social expectations, not written as law Legal­ to obey law, state, federal and relevant international laws Philanthropic­ additional behaviors and activities that society finds desirable and that the  values of the business support Shareholder Model­ theory of corporate social responsibility that holds that managers are 
agents of shareholders whose primary objective is to maximize profits
Stakeholder Model­ theory of corporate social responsibility that suggests that managers are 
obliged to look beyond profitability to help their organizations succeed by interacting with 
groups that have a stake in the organization
Development Can Be Sustainable
Ecocentric Management­ goal is the creation of sustainable economic development and  improvement of quality of life worldwide for all organizational stakeholders

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School: Texas State University
Department: Business Management
Course: MGT of Organization
Professor: A. Konopaske
Term: Fall 2015
Tags: Management
Name: MGT3303, Week 4
Description: Chapter 4 notes that will be on exam one
Uploaded: 02/07/2018
3 Pages 32 Views 25 Unlocks
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