MGT 302 Chapter 5 La Rosa ASU Flashcards Quizlet PDF

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MGT 302 Chapter 5 LaRosa ASU Flashcards | Quizlet

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Ethics

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Fair And Equitable

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Terms in this set (21) Business Ethics

the accepted principles of right or wrong governing the conduct of business people

Ethical strategy

a course of action that does not violate a company's business ethics

Foreign Corrupt Practices Act

U.S. law regulating behavior regarding the conduct o

(FCPA)

international business in the taking of bribes and other unethical actions

Convention on Combating

An OECD convention that establishes legally bindin

Bribery of Foreign Public

standards to criminalize bribery of foreign public

Officials in International

officials in international business transactions and

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provides for a host of related measures that make th effective

Ethical dilemma

A situation in which there is no ethically acceptable solution

Personal ethics

The generally accepted principles of right and wron governing the conduct of individuals

Organizational culture

The values and norms shared by an organization's employees

Cultural relativism

The belief that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate

Righteous moralist

One who claims that a multinational's home-country standards of ethics are the appropriate ones for companies to follow in foreign countries

Naïve immoralist

One who asserts that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either

Utilitarian approaches to ethics

Hold that the moral worth of actions or practices is determined by their consequences

Kantian ethics

The belief that people should be treated as ends an never as means to the ends of others

Rights theories

Twentieth Century theories that recognize that huma beings have fundamental rights and privileges that transcend national boundaries and cultures

Universal Declaration of Human

A UN document that lays down the basic principles

Rights

of human rights that should be adhered to

Just distribution

A distribution of goods and services that is considered fair and equitable

Code of ethics

A business's formal statement of ethical priorities

Stakeholders

The individuals or groups that have an interest, stake or claim in the actions and overall performance of a company

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Internal stakeholders

People who work for or own the business, such as employees, directors, and stockholders

External stakeholders

Individuals or groups that have some claim on a firm such as customers, suppliers, and unions

Corporate social responsibility

The idea that business people should consider the social consequences of economic actions when making business decisions, and that there should be presumption in favor of decisions that have both good economic and social consequences

Sustainable strategies

Strategies that not only help the multinational firm make good profits, but that do so without harming the environment, while simultaneously ensuring that the corporation acts in a socially responsible manne with regard to its multiple stakeholders

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