Mba 5300 - Study guides, Class notes & Summaries

What are the three pillars of Seidel's three pillar approach? correct answers Strategy, Law, and Ethics Define the Strategy Pillar correct answers Assumes a stakeholder approach—finding ways to move beyond a shareholder value orientation Define the Law Pillar correct answers Risk management orientation—compliance with the law is ethically required and should be the moral minimum for the organization Define the Ethics Pillar correct answers Assumes ethical leadership is important an...

MBA 5300 Exam || Complete Questions & Answers (100% Correct) MBA 5300 Exam || Complete Questions & Answers (100% Correct) Explain the difference between law and ethics - ANSWER - Laws: A system of principles and rules of human conduct. In a business setting, law represents the "rules of the game," the framework for business operations and decision making. Legal compliance is risk management. Ethics: Externally imposed guidelines for behavior that is considered right or wrong. This inclu...

Laws vs Ethics correct answers Ethics deal with personal and moral principles whereas laws are society's values and are enforceable in the courts Moral Absolutism correct answers There is only right and wrong. Suggests ethical standards apply universally across all cultures Moral Pluralism correct answers Introducing Grey areas of morals. The concept that there are fundamental truths that may dictate different definitions of what is moral in different situations without concluding that al...

Explain the difference between law and ethics correct answers Laws: A system of principles and rules of human conduct. In a business setting, law represents the "rules of the game," the framework for business operations and decision making. Legal compliance is risk management. Ethics: Externally imposed guidelines for behavior that is considered right or wrong. This includes an individual's, an organization's, or a profession's (e.g., attorneys, physicians, accountants) code of ethics. ...

Law correct answers A system of principles and rules of human conduct. In a business setting, law represents "rules of the game", the framework for business operations and decision making ------- are generally based on ------ but they are not the same thing. correct answers Ethics, Moral Principles Ethics correct answers Externally imposed guidelines for behavior that is considered right or wrong. Includes an individual's, an org's, or a profession's (attorneys, physicians, accountant...

Is published once a year and provides stockholders with details about the company's performance and financial condition. correct answers Annual Report Accounts for all revenues and expenses over an accounting period. correct answers Income Statement Summarizes a company's assets, liabilities, and stockholders' equity at a specific point in time. correct answers Balance Sheet Aggregates all cash inflows, which the company receives from its ongoing activities and investment sources, an...

Explain the difference between law and ethics correct answers Laws are A system of principles and rules of human conduct Ethics are Externally imposed guidelines for behavior that is considered right or wrong. Provide examples of behavior that may be legal but that people may consider unethical correct answers Breaking promises is generally legal, but is widely thought of as unethical, cheating , or other unethical things Provide examples of why going beyond legal compliance towards eth...

Laws correct answers a system of principles and rules of human conduct. In a business setting, law represents the "rules of the game", the framework for business operations and decision making. Legal compliance is risk management the ethical minimum for compliance Ethics correct answers externally imposed guidelines for behavior that is considered right or wrong. This includes an individual's, an organization's, or a profession's code of ethics often times a grey area generally bas...

Law correct answers A system of principles and rules of human conduct "The rules of the game" Risk Management Ethics correct answers Externally imposed guidelines for behavior that is considered right or wrong. Example of behavior that is legal but unethical correct answers Example of why going beyond legal compliance towards ethical compliance may produce value correct answers Moral Absolutism correct answers Belief in absolute standards of right and wrong behavior regardless of...