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474 Exam #2
Terms in this set (14)
Steps in Ethical Decision Making Model
1. determine the facts
2. identify the ethical issues
3. Identify stakeholders
4. identify potential solutions
5. assess the solutions using ethical perspectives
6. Asses any new potential solutions
7. make the decision in accordance with your ethical analysis
8. assess your actions and the outcomes
We should act in ways that produce better consequences than the alternatives we are considering. Identified with the principle of "maximize the overall good" or "the greatest good for the greatest number"
Ethical theories that are principle-based. It tells us that there are some rules we ought to follow even if doing so prevents good consequences from happening or even if it results in some bad consequences
Claims that our fundamental human rights are derived from our nature as free and rational beings. Humans are said to have fundamental human right of autonomy, or self-rule.
A tradition within philosophical ethics that seeks a full and detailed description of those character traits, or virtues, that would constitute a good and full human life. An ethics of virtue shifts the focus from questions about what a person should do, to a focus on who that person is.
Define corporate culture
A shared pattern of beliefs, expectations, and meanings that influence and guide the thinking and behaviors of the members of that organization.
How does corporate culture impact ethical decision-making?
An ethical culture can also have a direct and practical impact on the bottom line. If attended to and supports, a strong ethical culture serves as a deterrent to stakeholder damage and improves bottom line sustainability.
The differences between a compliance culture and a values-based culture.
Compliance-based culture emphasizes adherence to the rules as the primary responsibility of ethics. Values-based culture is one that reinforces a particular set of values rather than a particular set of rules.
The role of corporate leadership in establishing the culture.
Leadership sets the tone through other mechanisms such as the dedication of resources.
Explain the difference between effective leaders and ethical leaders.
Effective leaders are able to get followers to their common destination. Ethical business leaders allocate corporate resources to support and promote ethical behavior
Discuss the role of mission statements and codes in creating an ethical corporate culture.
Explain how various reporting mechanisms such as ethics hotlines and ombudsmen can help integrate ethics within a firm.
Discuss the role of assessment, monitoring, and auditing of the culture and ethics program.
Explain how culture can be enforced via governmental regulation.
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