MGT 300 Exam 2 Latest Update 100% Correct

MGT 300 Exam 2 Latest Update 100% Correct Ethics The moral principles, values, and beliefs that govern group or individual behavior according to what is right or wrong and what contributes to the balanced good of all stakeholders Ethical Dilemma A situation in which no choice is entirely right Preconventional Stage An individual's moral decisions is based primarily on self-protection or self-interest Does things based on rewards/punishment Conventional Stage An individual's moral decisions is based primarily on societal norms What is expected of them Postconventional Stage An individual's moral decisions is based primarily on what he or she believes is good for society as a whole Based on their moral judgement Societal Norms Society's expectations about how people should behave Values-based management A management style in which the company's culture affects employee behavior in ways that are consistent with the organization's mission and values Stakeholders individuals or groups who have a direct interest in n organization's behavior and experience the effects of the company's management decisions Externality A cost (negative) of benefit (positive) that occurs beyond the direct exchange between an organization and its stakeholders Escalation An increase in an organizational behavior as a direct response to a competitor's behavior Global Level of Ethics The principles, values, and beliefs that are widely considered universal Legal Principle Making decisions that follow both the letter and the spirit of the law Individual Rights Principle Making decisions that do not infringe upon the rights of other people Virtuous Principle Making decisions that you would be publicly proud of Long-term Principle Making decisions that support the long-term interests of yourself and your organization Community Principle Making decisions that contribute to the strength and well-being of the community Utilitarian Principle Making decisions that provide the greatest good to the greatest number of people Distributed Justice Prinicple Making decisions that do not harm those who are already disadvantaged