1. Define ethics.: answer- Principles that serve as a compass about how to
behave
2. Provide an example for each of the following:
legal-ethical
legal-unethical
illegal-ethical conflicts: answer- legal-ethical: by law in most states it is
illegal to take part in recreational marijuana use; and a judge that is
trying a case about marijuana possession agrees with the law and does
not think its okay to consume marijuana for recreational use.
legal-unethical: cheating on your boyfriend/girlfriend is legal but most
people find it unethical.
illegal-ethical: speeding is illegal but in some cases of an emergency
some people might find it ethical.
3. Define legal.: answer- An act that is allowed or is in conformity with the
, law of the land
4. Define values.: Stable life goals that people have that reflect
what is most important to them
5. Define morals.: Rules people develop as a result of cultural norms and
values and are, traditionally passed down through generations and
characterize a cultural group
6. Define organizational ethics.: Rules, principles, and standards for
deciding what is morally right or wrong when doing business
7. List the four main levels of ethical issues and provide an example of
each.-
: Societal Issues: an organization holds a fundraiser to help feed the
homeless. Stakeholder Issues: A company insists on treating suppliers
with respect and refuses to push them to the lowest pricing possible.
Internal Policy Issues: Fairness in management, pay, and employee
participation. Personal Policy Issues: Gossiping at work or taking credit
for another's work.
8. How does a company's ethical behavior impact organizational
outcomes?-
: Trustworthy companies are better at attracting and keeping
,customers, keeping talented employees, and capitol.
9. How does a company's unethical behavior impact organizational out-
comes?: They suffer from dwindling customer bases, employee
turnover, and in- vestor mistrust.
10.Define corporate social responsibility (CSR).: Philosophy in which a
compa- ny voluntarily engages in actions that benefit society, be it
economically, socially, politically, or environmentally
11.How is a company's CSR approach shaped?: By seeing that their
community is lacking something that they can provide, earning more
profit and reputation
12.Who is considered a company stakeholder?:
Unions employees
, consum
er
investor
s
supplier
s
local and national
governments communities.
13.What is the aim of CSR?: To increase profits and trust in the long-
term while promoting positive community relations
14.What is the purpose of the World Trade Organization (WTO)?: improve
the stability and predictability of global trade.
15.What is a code of ethics?: Guide that publicly sets out an
organization's key values and ethical obligations
16.What is included in a company's code of ethics?: details of how the
company plans to implement its values and vision, as well as guidance
for the staff on ethical standards and ways to achieve them. Having
such a policy hopefully leads to greater ethical awareness, consistency
in application, and avoidance of ethical disasters.
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