Business Ethics 4 Flashcards

Terms Definitions
formal groups
committees, work groups, teams
individuals or organizations that own shares of a company's stock00 are one of several kinds of stakeholders
stockholders
perks
to become lively, cheerful, or vigorous, as after depression or sickness (usually fol. by up):
What is the most plausible solution for "race to the bottom" globalization?
Regulation
provides services, goods, and make a profit; to grow; provide jobs; generate wealth for stockholders; pay taxes to gov't
powerful and compact technologies that have allowed us to capture, manipulate, and move information in new and creative ways.
information technology
compliance based culture
use legal department to determine ethical risk
Globalization: List the arguments favoring a POSITIVE "race to the top" view for AMERICA
Growth/prices/inflation, workers in import industries
customers, suppliers and retailers
who has economic power with companies?
the belief that persons should have restored to them what they lose as the result of another's wrong action.
compensatory justice
each individual is obliged to work hard at his or her calling.
puritan ethic
the standards that an individual or a group has about what is right and wrong or good and evil (also, the subject that ethics investigates).
morality
exacting culture
shows little concern for people, but a high concern for performance
Describe "Denial of Victim"
They had it coming, psychological distancing (i.e., theft, tax evasion)
emphasizes care for the well-being of those close to us.
ethic of care
standards by which we judge what is right/ wrong or good/bad in a nonmoral way.
nonmoral standards
Equal Pay Act
requires that men and women be paid the same wages for doing equal work
Explain why someone might disagree with the degree of the effect of globalization
"10% presumption," Borders still matter, Extreme local connectivity, Importing/Exporting does not necessarily mean connectedness
What are some challenges facing businesses that want to implement Cradle to Cradle?
Expensive, Limited availability of reusable resources, Hard to measure, Low ROI (sometimes), Prisoners Dilemma (may lose competitive edge), Consumers ultimately want low prices not environmentally friendly
Due Process
the right to a fair process by which decision makers impose sanctions on their subordinates
shareholders
a holder or owner of shares, esp. in a company or corporation.
How do factories (outsourcing) promote EXPLOITATION?
Poor countries have a vulnerable workforce, "Better" may not be "good enough", GDP is not the only relevant measure
What are the three core arguments for the stakeholder theory?
descriptive, instrumental and normative
What are the criticisms of marketing?
Motive to sell (vs serve), Shapes culture ("Who we should be"), Promotes consumerism, Manipulative (creates needs instead of meeting them), Exploits vulnerabilities, Deceptive, Clutter
What is the Stakeholder model of corporate responsibility? How does it differ from the Classical and Neoclassical models? Who and what are the stakeholders?
o The interests of every party affected by business decisions should be given equal consideration.o It is different from the other two models because it talks about the parties affected, not just the business maximizing profitso The stakeholders are the business owners, consumers and manufacturers
What are some criticisms of emerging environmental business practices?
Too easy (ST focus), Window dressing, "less bad", Does not change their existing practices that may be damaging
What are the implication of Wydick's 3 biblical principles: (1) Poor people and our response, (2) Interdependence is good, and (3) God is not a patriot
Trade is generally good, Policies to help harmed people, Wrong to favor our own interests ("Good for America?"), Oppose policies that harm developing countries (i.e., tariffs and farm subsidies)
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