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Strategic Management: Chapter Ten
Terms in this set (17)
principles of conduct within organizations that guide decision making and behavior
actions an organization takes beyond what is legally required to protect or enhance the well-being of living things
the extent that an organization's operations and actions protect, mend, and preserve rather than harm or destroy the natural environment
Seven Principles of Admirable Business Ethics
Honor commitments and obligations
Do not misrepresent, exaggerate, or mislead
Be a visibly responsible community citizen
Utilize your accounting practice to eliminate questionable activities
Do unto others as you would have them do unto you
Code of Business Ethics
To ensure that the code of ethics is read, understood, believed, and remembered, periodic ethics workshops are needed to sensitize people to workplace circumstances in which ethics issues may arise.
refers to employees reporting any unethical violations they discover or see in the firm
An Ethics Culture
Ethics training programs should include messages from the CEO or owner of the business emphasizing ethical business practices, the development and discussion of codes of ethics, and procedures for discussing and reporting unethical behavior.
the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in discharge of a public or legal duty
a crime in most countries of the world, including the United States
Workplace romance can be detrimental to morale and productivity
favoritism complaints can arise
confidentiality of records can be breached
reduced quality and quantity of work could result
personal arguments can lead to work arguments
whispering secrets can lead to tensions
sexual harassment charges may ensue
conflicts of interest could arise
Social Responsibility and Policy
Ralph Nader proclaims that organizations have tremendous social obligations.
Milton Friedman asserts that organizations have no obligation to do any more for society than is legally required.
concerns what responsibilities the firm has to employees, consumers, environmentalists, minorities, communities, shareholders, and other groups
Firms should strive to engage in social activities that have economic benefits
Employees, consumers, governments, and society are especially resentful of firms that harm rather than protect the natural environment.
Conversely, people today are especially appreciative of firms that conduct operations in a way that mends, conserves, and preserves the natural environment.
reveals how a firm's operations impact the natural environment
discloses to shareholders information about the firm's labor practices, product sourcing, energy efficiency, environmental impact, and business ethics practices
ISO 14000/14001 Certification
The ISO 14000 family of standards concerns the extent to which a firm minimizes harmful effects on the environment caused by its activities and continually monitors and improves its own environmental performance.
ISO 14001 is a set of standards adopted by thousands of firms worldwide to certify to their constituencies that they are conducting business in an environmentally friendly manner
Results in an Environmental Management System (EMS)
6 Major Requirements of an EMS
Show commitments to prevention of pollution, continual improvement in overall environmental performance, and compliance with all applicable statutory and regulatory requirements.
Identify all aspects of the organization's activities, products, and services that could have a significant impact on the environment, including those that are not regulated.
Set performance objectives and targets for the management system that link back to three policies: (1) prevention of pollution, (2) continual improvement, and (3) compliance.
Meet environmental objectives that include training employees, establishing work instructions and practices, and establishing the actual metrics by which the objectives and targets will be measured.
Conduct an audit operation of the EMS.
Take corrective actions when deviations from the EMS occur.
Consumers globally are becoming increasingly intolerant of any business or nation that directly or indirectly destroys wildlife, especially endangered wildlife, such as tigers, elephants, whales, songbirds, and coral reefs.
Food Suppliers and Animal Welfare
Consumers expect humane treatment of animals.
Consumers are flocking to organic products.
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