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| A structured community of people bound together by similar traditions and customs |
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| A particular set of attitudes, beliefs, and practices that characterize a group of individuals. |
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| A concept of living your life according to a commitment to the achievement of a clear ideal - "what sort of person would I like to become, and how do I go about becoming that person?" |
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| A person's standards of behavior or beliefs concerning what is and is not acceptable for them to do. |
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| Standards or patterns, especially of social behavior, that is typical or expected of a group. |
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| Ethics for the greater good |
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| A focus on the greatest good for the greatest number of people. (Utilitarianism) |
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| (Prescriptive)Business ethics - Evaluation of the degree to which the observed customs, attitudes, and rules can be said to be ethical. Here we are more interested in recommending what should be happening. |
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| Concept that the traditions of your society, your personal opinions, and the circumstances of the present moment define your ethical principles. |
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| Ethical choices that offer the greatest good for the greatest number of people. |
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| Arthur Dorbin - ethical dilemma |
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| Identified eight questions that you should consider when resolving an ethical dilemma. p10 |
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| Introduced greater accountability for chief executive officers and boards of directors in signing off on the financial performance records of the organizations they represent. |
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Consult company code of ethics.
Do what's right for the stakeholders.
Do what's legal.
Do what you think is best.
Do the right thing.
NOT - Do what I do. |
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| A situation in which there is no obvious right or wrong decision, but rather a right or right answer. |
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| Ends-based, Rules-based, The Golden Rule |
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| The key functional inputs that an organization provides in the transformation of raw materials into a delivered product or service. |
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| The values, beliefs, and norms that all the employees of that organization share. |
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| product quality. Best materials available or second best to save money? Run full battery of tests or convince ourselves that the computer simulations will give us all the information we need? |
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| Selling things that people need or selling things to people they don't need. |
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| The certification of an organization's financial statements, or "books," as being accurate by an impartial third-party professional. An organization can be large enough to have internal auditors on staff as well as using external professionals--typically certified professional accountants and/or auditing specialists. |
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| A situation in which one relationship or obligation places you in direct conflict with an existing relationship or obligation. |
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| aka CSR. The actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations. |
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| The perspective that the only obligation of a corporation is to maximize profits for its shareholders in providing goods and services that meet the needs of its customers. |
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| Corporate Social Responsibility |
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| The actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations. |
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| Advocate of the Instrumental approach. Believed it would be unethical for a corporation to do anything other than deliver the profits for which its investors have entrusted it with their funds in the purchase of shares in the corporation. |
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| Free-enterprise, private property system |
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| A corporate executive is an employee of the owners of the business. He has direct responsibility to his employers. The responsibility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom. |
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| an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth. |
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| a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole. |
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| Someone with a share or interest in a business. (Stakeholders, employees, vendors, customers, and community) |
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| Those with finance/time invested in a business. |
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| Philanthropic approach to CSR in which organizations underwrite specific initiatives to give back to the company's local community or to designated national or international programs. |
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| Purest or most legitimate type of CSR in which organizations pursue a clearly defined sense of social conscience in managing their financial responsibilities to shareholders, their legal responsibilities to their local community and society as a whole, and their ethical responsibilities to do the right thing for all their shareholders. |
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| Philanthropic approach to CSR in which organizations target programs that will generate the most positive publicity or goodwill for the organization but which runs the greatest risk of being perceived as self-serving behavior on the part of the organization. |
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| The system by which business corporations are directed and controlled. |
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| A group of individuals who oversee governance of an organization. Elected by vote of the shareholders at the annual general meeting (AGM), the true power of the board can vary from institution to institution, from a powerful unit that closely monitors the management of the organization to a body that merely rubber-stamps the decisions of the CEO and executive team. |
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| An operating committee staffed by members of the board of directors plus independent or outside directors. The committee is responsible for monitoring the financial policies and procedures of the organization - specifically the accounting policies, internal controls, and the hiring of external auditors. |
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| monitoring the ethical performance of the corporation and overseeing compliance with the company's internal code of ethics as well as any federal and state regulations on corporate conduct. (Cadbury and King reports) |
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| Accepting payoffs, discrimination in hiring, hiring friends and family, sharing personal information, altering test results |
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| Comply or Explain - Set of guidelines that require companies to abide by a set of operating standards or explain why they choose not to. |
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| A company's written standards of ethical behavior that are designed to guide managers and employees in making the decisions and choices they face every day. |
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| Which decision would provide the greatest good for the greatest number of people? |
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| What would happen if everyone made the same decision as you? |
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| Do unto others as you would have them do unto you. |
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| Do you tell the truth or remain loyal to the person or organization that is asking you not to reveal the truth? |
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| Short term versus Long term |
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| Does your decision have a short-term consequence or a longer-term consequence? |
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| Do you perceive this issue as a question of dispensing justice or mercy? (Which one are you more comfortable with?) |
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| Individual versus community |
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| Will your choice affect one individual or a wider group or community? |
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