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Chapter 9 recap quiz Flashcards | StudBud
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Chapter 9 recap quiz
Chapter 9 recap quiz
9 terms
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StudBud Administration
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7 plays
For strategic management CBS 2022
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
Drivers of Unethical Business Behavior:
Short-termism pressure to meet or beat short-term performance targets.
Wishing to better the environment
Faulty internal oversight allows pursuit of personal gain.
A culture that puts business performance ahead of ethical behavior.
2
Triple bottom line is excelling within ethics through;
Profit, people, planet
Price, place, performance
Promotion, placement, planet
People, production, peace
3
Integrated Social Contrats Theory defines ethics as;
Companies enforce social media usage with employees
A combination between relativism and universalism, with universals first
Companies force locals to sign non-disclosure contracts
A local custom is not ethical if it violates universal ethical norms
4
Where don’t Ethical Standards come from (according to the book)?
International Human Rights Laws
The school of Ethical Universalism
Integrated Social Contracts Theory
The School of Ethical Relativism
5
Ethical Relativism is defines ethics as;
Profit should be relative to environmental damage
Companies should always act unethically
Business ethics should be the same across all societies
Business ethics depends on local standards
6
Are Business Ethics very different from general ethics?
Businesses don’t have ethics
Businesses shouldn’t care about employee behaviour
No, because businesses are judged by society
Businesses only care about cash flow
7
How “To Do The Right Thing” in terms of CSR/ESG
Provide good work conditions for employees
Operate ethically and legally
Display good corporate citizenship
Be a good environmental steward
8
Ethical Universalism defines ethics as;
Profit should be relative to environmental damage
Business ethics should be the same across all societies
Business ethics depends on local standards
Companies should always act unethically
9
What may happen if a company doesn’t live up to proper ethics
Sizable civil fines and stockholder lawsuits
Criminal indictments and convictions
Sharp stock price drops as investors lose confidence
Devastating image and public relations hits
