WGU-D072 Personal Ethics on Fundamentals for Success in Business exam
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WGU D072 Fundamentals for Success in Business
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WGU D072 Fundamentals For Success In Business
WGU-D072 Personal Ethics on Fundamentals for Success in Business exam
Personal Ethics
refers to the ethics a person identifies with, which guides how they interact with others daily.
Organizational ethics
focuses on rules, principles and standards in respect to the business' activities
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wgu d072 personal ethics on fundamentals for succe
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WGU-D072 Personal Ethics on Fundamentals
for Success in Business exam
Personal Ethics
refers to the ethics a person identifies with, which guides how they interact with others daily.
Organizational ethics
focuses on rules, principles and standards in respect to the business' activities
Identify how ethics impact outcomes in organizations
· Organizations tainted by questionable ethics suffer by a decline in their consumer base, increase
employee turnover, and mistrust from their investor's.
· Setting an unrealistic goal can lead to the compromise of ethics and standards.
Example of personal ethics
Speaking the truth, respecting elders, and never purposely hurt others.
Example of professional ethics.
Being punctual, refraining from gossip, and having good time management
Provide an example of when personal and professional ethics may conflict
Under the 'Code of Conduct,' police officers are obligated to enforce and uphold the law even if they
don't agree with it.
What are the 4 main ethical issues and their roles within organizations
Societal, Stakeholder Issues, Internal Issues, Personal Issues
Societal Issues
Relates to society and getting involve in societal issues out of care and concern.
Stakeholder Issues
Anyone affected by the company's actions (consumers, employees, suppliers, and people within the
community).
Internal issues
Relates to relationship between organization and its employees (fairness in management, pay, and
employee participation).
Personal Issues
Deals with how employees treat each other (gossiping, taking credit for someone else's work).
What are some benefits to an organization that practices high ethics?
benefit from the trust of their stakeholders and has a competitive advantage in the marketplace.
Define Corporate Social Responsibility (CSR).
, when an organization voluntarily engages in issues that are affecting the environment, community or
society at large.
What is the importance of CSR in the organization and in the community?
· It's beneficial to both the organization and its stakeholders. It creates long-term profits and
shareholder's trust for the organization.
· Attract consumers who share the same values.
· Increases organization's brand image (awareness) /creates a better image
· Creates an advantage over competitors.
CSR is important in the community because
· Organization is gives back to the community (food bank/ school supplies giveaways,
charities/donations, scholarships).
· Ability to influence organization's economic practices.
Company in accordance with their commitment example:
Company ABC, states that they are becoming more eco-friendly. They show their commitments by
manufacturing in a sustainable way, using renewable products, encouraging employees to recycle,
partnering with like-minded people within the community.
Company in discord with their commitment example:
Company DEF, states that they are becoming more eco-friendly, but their actions are contrary. They
don't manufacture in a sustainable fashion, don't practice recycling. All the company's actions are
detrimental to the environment.
Greenwashing
Company's actions goes against their ethical commitments.
Internal transparency
the ability of everyone in an organization to exist within a system of openness, communication, and
accountability
Whistleblowing
when someone tells the public or authorities of alleged misconduct in government department,
private company or organization
Sarbanes-Oxley Act (SOX
aims at improving transparency in organizations by requiring clear reporting practices.
Process Management/Business Process management (BPM)
refers to management's initiative to design work processes so that they align with the organization's
strategic goals
Management
involves directing a team of employees to work toward achieving a goal.
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