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| a set of beliefs about right and wrong; good and bad |
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| obligation of a business to contribute to society |
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| ethics that apply to everyone across a broad spectrum of situations |
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| universal ethical standards |
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| 6 core values made by Character Counts |
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| trustworthiness, respect, responsibility, fairness, caring, and citizenship |
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| a decision that involves a conflict of values; eery potential course of action has some significant negative consequences |
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| cornerstone of any formal ethics program to give employes the info they need to make ethical decisions across a range of situations |
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| employees who report their employer's illegal or unethical behavior to either the authorities or the media |
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| any groups that have a stake (personal interest) in the performance and actions of an organization |
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| 2 examples of stakeholders |
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| federal government is a key stakeholder in pharmaceutical companies; community is a key stakeholder for a coffee shop |
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| core stakeholders in a business |
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| employees, customers, investors, community |
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| companies social responsibility to employees |
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| protect from sexual harassment, give minimum wage and overtime requirements, workplace safety, and equal opportunity |
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| companies' responsibility to customers |
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| value, fair prices, honesty, and communication |
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| social movement that focuses on 4 consumer rights |
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| right to safe, right to be informed, right to choose, right to be heard |
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| strategy of deliberately designin products to fail in order to shorten the time between purchases |
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| companies' responsibility to investors |
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| meeting legal requirements, trying to make a profit, spend money wisely, honesty |
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| Federal Legislation passed in 2002 that sets higher ethical standards for public corporations and accounting firms |
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| 1. limits conflict of interest issues by restricting the consulting services that counting firms can provide for companies they audit 2. requires that financial officers and CEOs personally certify the validity of their financial statements |
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| two key provisions of Sarbanes-Oxley Acts |
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| companies' responsibility to the community |
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| philanthropy and responsibility |
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| includes all business donations to nonprofit groups, including all money and products and employee time |
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| a partnership between a business and a nonprofit designed to spike slaes for the company and raise money for the nonproft |
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| relates closely to philanthropy but focuses on the actions of the business itself rather than donations ex: hiring Olympic hopefuls to work 20 hours a week to accommodate for training |
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| doing business to meet the needs of this generation without harming the ability of future generations to meet their needs |
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| marketing environmental products and practices to gain a competitive edge |
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| systematic evaluation of how well a firm is meeting its ethics and social responsibility objectives |
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| transmission of information between a sender and a recipient |
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| any interference that causes miscommunication/misunderstanding |
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| types of communication barriers: |
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| physical, language, perceptual, organizational, cultural, intercultural communication |
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| types of nonverbal communication |
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| eye contact, tone of voice, facial expressions, gestures and posture |
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| very low communication channels |
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| memos, reports, e-mail, IM |
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| low communication channel |
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| moderate communication channel |
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| high communication channel |
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| gender, age, race/ethnicity/nationality |
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| vibrant, compelling presentation delivery style that grabs and holds the audience's attention |
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| simplest form of ownership; managed and owned by a single individual |
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| advantages of sole proprietorship: |
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| ease of formation, you're in control, you keep profits, possible tax advantage |
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| disadvantages of sole proprietorship: |
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| limited money, can't pay/keep employees that deserve high salaries, heavy workload and responsibilities, lack of permanence (when owner dies, company dies) |
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