Class notes
GCM 370 - Exam Review
- Institution
- Ryerson University (Ru )
This exam review covers everything from beginning to end in GCM 370 - Management Studies. The chapters covered are from chapters 3 to 4 and 12 to 18.
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GCM 370: Management Studies Exam ReviewChapter 3
1. Ethics
• Laws and values as influences on ethical behaviour
• Alternative views of ethics
• Cultural issues and ethical behaviour
2. Ethics in the Workplace
• Ethical dilemmas
• Influences on ethical decision making
• Rationalizations for unethical behaviour
3. Maintaining High Ethical Standards
• Moral management
• Ethics training
• Codes of ethical conduct
• Whistleblower protection
4. Social Responsibility
• Social responsibility, sustainability, and the triple bottom line
• Perspectives on corporate social responsibility
• Evaluating corporate social performance
• Corporate governance
Ethics
• Moral code of principles
• Set standards of “good” or “bad” or “right” or “wrong” in one’s conduct
• Ethical behaviour
o What is accepted as good and right in the context of the governing moral code.
• Laws and values as influences on ethical behaviour:
o Legal behaviour is not necessarily ethical behaviour.
o Personal values help determine ind. ethical behaviour.
o Values = underlying beliefs and attitudes that help influence individual
behaviour
, Terminal values = preferences about desired ends
Instrumental values = preferences regarding the means to desired ends
• Four Views of Ethical Behaviour
o Individualism view: “Does a decision/behaviour promote one’s long-term self-
interests?”
o Utilitarian view: “Does a decision/behaviour do the greatest good for the most
people?”
o Justice view: “Does a decision/behaviour show fairness and impartiality?”
o Moral rights view: “Does a decision/behaviour maintain the fundamental rights
of all human beings?”
• Four Alternate Views of Ethical Behaviour
o Utilitarian
Delivers the greatest good to the most people
o Individualism
Advances long-term self-interests
o Moral rights
Respects and protects the fundamental rights of all people
o Justice
Fair and impartial treatment of people according to legal rules and
standards
• Procedural justice – policies and rules fairly applied
• Distributive justice – fair distribution of outcomes
• Interactional justice – people treated with dignity and respect
• Commutative justice – fairness to all involved
• Cultural issues in ethical behaviour:
o Cultural relativism
Ethical behaviour is always determined by cultural context.
o Moral absolutism
Behaviour unacceptable in one’s home environment should not be
acceptable anywhere else.
o Ethical imperialism
Imposing one’s ethical standards on others.
• The extremes of cultural relativism and ethical imperialism in international business
ethics
,Ethics in the Workplace
• Ethical dilemmas
o Occur when choices, although having potential for personal and/or
organizational benefit, may be considered unethical.
• Includes:
o Discrimination
o Sexual harassment
o Conflicts of interest
o Product safety
o Use of organizational resources
• Process:
o Step 1. Recognize the ethical dilemma.
o Step 2. Get the facts and identify your options.
o Step 3. Test each option:
Is it legal?
Is it right?
Whom does it affect?
Who benefits?
Who gets hurt?
o Step 4. Decide which option to follow.
o Step 5. Double-check your ethics by asking these spotlight questions:
“How will I feel if my family finds out about my decision?”
“How will I feel about this if my decision is reported in the local
newspaper or posted on the Internet?”
“What would the person I admire most for their character and
ethical judgement say about my decision?”
o Step 6. Take action.
• Influences on Ethical Decision Making
o Ethical framework
o Provides personal rules or strategies for ethical decision making
• Includes personal values:
o Honesty
o Courage
o Fairness
o Integrity
o Self-respect
• Influences on ethical decision-making:
o Situation: Ethical intensity
o Organization: Ethics culture
, o Environment: Industry norms
o Person: Moral development
o Ethical: decision-making
• Kohlberg’s levels of individual moral development
• Situational Context and Ethics Intensity
o Ethics intensity or issue intensity
the extent to which situations are perceived to pose important
ethical challenges
• Organization Setting
o The work and social settings of organizations have a strong influence on
the ethics of members
• External Environment, Government Regulation, and Industry Norms
o Laws reflect social values and define appropriate behaviour; regulations
help governments monitor these behaviours and keep them within
acceptable limits
• Rationalizations for unethical behaviour
o People often rationalize ethical transgressions with after-the-fact
justifications:
Behaviour is not really illegal.
Behaviour is really in everyone’s best interest.
Nobody will ever find out.
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