Basics of Business Things | Ethical Decision Making Tools | Are you "Aware"? | Why Do Good People Do Bad Things | Who's got the biggest stake? |
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What is stakeholder
All individuals or groups who have vested interest in the performance of business
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What is profit maximization
This ethical tool assumes there is open and free competition in business.
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What is the Values Auction
An exercise where you bid and rank things that are most important to you. This should help you as you choose an employer.
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What is cognitive bias
a subconscious error in thinking that leads you to misinterpret information from the world around you and affects the rationality and accuracy of decisions and judgement
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What is corporate governance
The overall control of activities in a corporation.
It is concerned with the formulation of long-term objectives and plans and the proper management structure to achieve them. It entails making sure that the structure functions to maintain the corporation’s integrity, reputation and responsibility to its various constituencies. |
What is shareholder
An individual or group that has a financial interest in a business
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What is utilitarianism
A weakness of this ethical tool is that sometimes harm cannot be outweighed by any benefit.
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What is moral relativism
The belief that morality is just a function of what a particular society happens to believe.
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What is Implicit or unconscious
Racial Stereotyping, Ageism and Ableism are type of what kind of bias
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What is globalization
Integration of the world's culture, economy, and infrastructure driven by the lowering of political barriers to transnational trade and investment, and by the rapid proliferation of communication and information technologies.
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What is stakeholder analysis
The process of identifying individuals or groups that will be impacted before a business starts
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What is virtue ethics
Develop individual character and you will necessarily make the right decision
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What is the Alligator River Story
We reviewed this story regarding ethical principles. 5 characters behavior, responsibility and their justifications were reviewed
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What is the Genovese syndrome
The psychological phenomenon where instead of helping, people are paralyzed or fail to act in urgent situations
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What is the triple bottom line
Balancing social needs, environmental needs and economic needs is called this
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What is Power, Legitimacy, and Urgency
The 3 Stakeholder Attributes
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What is intuition
The ability to understand something immediately, without the need for conscious reasoning
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What is preconventional, conventional and postconventional
What are Kohlberg's levels of moral development
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What is rationalization tactics
Denial of responsibility, Denial of victim, and denial of injury are examples of what
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What is work life balance
The level of prioritization between personal and professional activities in an individual's life and the level to which activities related to their job are present in the home.
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What is Corporate Social Responsibility Model
This business model states that corporations "need to care"
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What is justice approach
A key principle of this decision making tool is "what is fair for one should be fair for all"
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What is moral universalism
The belief that variations in moral standards reflect different factual circumstances rather than fundamental differences in values
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What is Proctor & Gamble
This company faced an ethical dilemma about how to rebrand their product that was not meant for consumption because a small number of consumers ingested their product because it looked like candy.
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What is consumerism
A movement to improve the rights and powers of consumers in relation to the sellers of products and services
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