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DSST Business Ethics and Society 2

172 workers adjustment retraining and notification

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172) Workers Adjustment Retraining and Notification Act ( WARN) – in 1988 – in response to sudden dismissal of employees without sufficient notice coupled with company shutdown a) Law stated that companies with more than 100 employees must give 60 days’ advance notice of layoffs and plant closings to full time staff, unions and state and local government 173) Deregulation – the removal of government controls from an industry or sector, to allow for a free and efficient marketplace a) Until recent deregulation of airlines and banking industries they had little or no competition 174) Clash of Ethical Systems – according to Jacoby, the relationship between business and government in an adversarial one a) Two systems are a.i) Collectivistic Ethic of government – characterized by the subordination of individual goals and self interests to group interests and goals (a.i.1) Government officials view themselves as regulators, taxers and punishers of business a.ii) Individualistic ethic of business – minimizing the obligations society places on individuals and emphasizing personal responsibility and freedom (a.ii.1) Business people view government officials and regulations as obstacles to economic success with much power to punish and hinder and little power to assist 175) Lobbying – business’s primary means of influencing government 176) Lobbyist – a representative of an interest group who actively tries to influence public policy a) Lobbyist work in Congress to try to put forth issues that are important to their group 177) Interest Group – a group that tries to influence public policy a) Interest groups are a powerful lobbying force in American politics 178) Industries collectively form a lobbying group in an attempt to persuade legislators to vote for their interest a) American Banking Association b) American Medical Association 179) Political Action Committees – (PAC) – a group that raises and distributes money to candidates a) Some are independent and some are associated with a special interest group b) Organizations used to funnel financial contributions from interest groups b.i) Controversial and will likely be a target of campaign reform 180) Bipartisan Campaign Reform Act – 2002 - McCain-Feingold Bill – placed restrictions on individual and corporate campaign contributions a) Bill sought to limit personal and corporate spending b) Restrict out of state contributions c) Ban corporate and labor union contributions d) Eliminate soft money contributions to political parties 181) Business influence the public through advertising, public relations and other types of communications a) Public relations often include using publicity, one of the four ingredients of the promotion mix 182) KPMG 2006 Survey – accounting firm that offers the following services; tax, audit, and advisory 183) Green Marketing – companies seek to go above and beyond traditional marketing by promoting environmental core values a) Marketing products and services based on environmental factors or awareness 184) Implied Falsity 185)
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