Ethical Systems Ethics Environment Ethics Strategies Corporate Social Responsibility Ethical Events 10pt 10 pt 10 pt 10pt 10 pt 20 pt 20 pt 20pt 20pt 20 pt 30 pt 30 pt 30 pt 30 pt 30 pt 40 pt 40 pt 40pt 40 pt 40pt 50pt 50 pt 50 pt 50 pt 50 pt
A system of rules that governs the ordering of values
What is ethics?
A system that believes that all people should uphold certain values common to all societies
What is universalism?
to decide what is right and wrong What people use to decide what is right and wrong
What is moral philosophy?
maximizes individual consequences A belief system that maximizes individual consequences
What is egoism?
This system does the greatest good for the greatest number of people
What is utilitarianism?
Theorist of virtue ethics with a multistage model for what a “mature” person with good moral character would do in certain situations
Who is Kohlberg?
“Weather” or not a company determines right & wrong
What is ethical climate?
A law requiring leaders be held accountable for the accuracy of their public financial records
What is the Sarbanes-Oxley Act?
Danger signs of bad organizational ethical behavior
What are emphasis of short term revenue focus, lack of an ethics program, quick fixes, doing the legal or public affairs minimum, lack of ethics procedures, favoring Shareholders over all others, frequent fines, etc.
A written statement that says the organization will do the right thing
What is as Ethics Code?
System that uses strict rules, auditing, monitoring, punishment, and other safeguards to prevent, detect, and punish legal violations to be ethical.
What is a compliance-based ethics program?
external “tattletale” who tells others of wrongdoing Term for an internal or external “tattletale” who tells others of wrongdoing
What is a “whistleblower”?
Company mechanisms designed to instill in people a personal responsibility for ethical behavior
What is integrity-based ethics?
This magazine conducts an annual survey of corporate reputations
What is Fortune?
Even cowardly lions need this to confront ethical wrongdoing
What is courage?
Corporate Social Responsibility
What is a perceived obligation towards society assumed by business
The correct bottom-to-top hierarchical order of ethical responsibility, philanthropic responsibility, legal responsibility, and economic responsibility
What is economic, legal, ethical, and philanthropic responsibility?
“ A Theory of Moral Sentiments”, he said, “the wise and virtuous In his other book, “ A Theory of Moral Sentiments”, he said, “the wise and virtuous man is at all times willing that his own private interest should be sacrificed to public interest” if required by circumstances.
Who is Adam Smith?
This Nobel economist said “The social responsibility of business is to increase profits”.
Who is Milton Friedman?
Famous Harvard professor who said “The essential test that should guide CSR is not whether a cause is worthy, but whether it presents an opportunity to create shared value—that is, a meaningful benefit for society that is also valuable to the business.”
Who is Michael Porter (w/ Mark R. Kramer)?
Another term for “cradle-to-grave” or “womb to tomb” that analyzes environmental impact
What is a life-cycle analysis?
Location of Union Carbide’s worst environmental incident
Where is Bhopal, India?
a fortune to protect their customers from harm to maintain consumer Maker of “Tylenol” that spent a fortune to protect their customers from harm to maintain consumer confidence and integrity
Who is Johnson and Johnson?
He made off with $65 billion of investor assets and was sentenced to 150 years in prison
Who is Bernie Madoff?
Texas energy giant that almost folded and lost enormous shareholder value due to improper reporting of financial information
Who is ENRON?