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MGM101 - Chapter 4

Ethics and Social Responsibility

What refers to laws written to protect ourselves from fraud, theft, and violence? Legality
Many immoral and unethical acts fall within our laws (T or F) True Example: Sharing something told to you in confidence is unethical, but not illegal
Ethics-check questions ( when faced with a potentially unethical action) Is my proposed action legal? Is it balanced? (Am I acting fairly? Would I want to be treated this way?) How will it make me feel about myself?
Ethics is taught (T or F) False People learn their standards from observing what others do, not from what they say)
This ethics codes emphasize the prevention of unlawful behaviour by increasing control and penalizing wrongdoers Compliance-based ethics codes Objective: Avoid legal punishment/criminal misconduct
This ethics codes define the organization's guiding values, create an environment that supports ethically sound behaviour, and stress shared accountability among employees Integrity-based ethics codes Objective: Enable responsible employee conduct
People who report illegal and unethical behaviour Whistleblowers
This legislation established stronger standards to prevent misconduct and improve corporate governance practices The Sarbanes-Oxley Act of 2002 (SOX) Goal is to ensure the accuracy and reliability of published financial information
Whistleblowers are a threat to corporation (T or F) False They provide value to corporations (a study showed that whistleblowers uncover more fraud that other management control systems)
Any behaviour within the law is acceptable and ethical (T or F) False Ethics and legality are two very different things
The standards of moral behaviour Ethics Behaviour that is accepted by society as right vs wrong
Created by: kayzee
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