D072 Exam 9 Questions With Correct Answers!!
Four main levels of ethical issues within organizations are:
1. Societal Issues
2. Stakeholder Issues
3. Internal Policy Issues
4. Personal Issues
Societal Issues
- Concerns issues relating to the world as a whole
- Involvement happens because of the ethics the organization creates out of care and concern for
individuals
Stakeholder Issues
- Concerns policies that affect its customers, employees, suppliers, and people within the
community
Internal policy Issues
- Concerns internal relationships between a company and its employees
- Examples include fairness in management, pay, and employee participation
Personal Issues
- Concerns how people treat others in their organization
- Examples include gossiping at work or taking credit for another's work
Legal-Ethical
Actions that are both permitted by lay and align with ethical standards
Example: Donating to charity, fair business practices, environmental sustainability efforts
Legal-Unethical
, Actions that are allowed by law but violate ethical standards
Example: Exploiting loopholes to avoid taxes, aggressive marketing tactics that deceive
consumers
Illegal-Ethical
Actions that are considered ethical but violate laws, often done for a higher moral purpose
Example: A company facing financial hardship does business with a less-than-legal organization
in order to be able to pay employees
Stakeholders
individuals, groups, or organizations that have an interest or concern in a particular project,
decision, or outcome
Business laws
a set of rules and regulations that govern the rights, relations, and conduct of individuals and
businesses engaged in commerce and trade
Conflict of interest
when an individual's personal interests interfere with their professional responsibilities or
decisions, potentially leading to biased or unethical outcome
Five key departments in an Organization
1. Marketing
2. Human Resources
3. Research and Development (R&D)
4. Accounting and Finance
5. Information Technology (IT)
Marketing
- customer and market research - studies the market to evaluate the chances of the idea's success.
help set the pricing and positioning for new proposed product idea
- target market identification - identifies the potential target audience based on the unique selling
proposition
Four main levels of ethical issues within organizations are:
1. Societal Issues
2. Stakeholder Issues
3. Internal Policy Issues
4. Personal Issues
Societal Issues
- Concerns issues relating to the world as a whole
- Involvement happens because of the ethics the organization creates out of care and concern for
individuals
Stakeholder Issues
- Concerns policies that affect its customers, employees, suppliers, and people within the
community
Internal policy Issues
- Concerns internal relationships between a company and its employees
- Examples include fairness in management, pay, and employee participation
Personal Issues
- Concerns how people treat others in their organization
- Examples include gossiping at work or taking credit for another's work
Legal-Ethical
Actions that are both permitted by lay and align with ethical standards
Example: Donating to charity, fair business practices, environmental sustainability efforts
Legal-Unethical
, Actions that are allowed by law but violate ethical standards
Example: Exploiting loopholes to avoid taxes, aggressive marketing tactics that deceive
consumers
Illegal-Ethical
Actions that are considered ethical but violate laws, often done for a higher moral purpose
Example: A company facing financial hardship does business with a less-than-legal organization
in order to be able to pay employees
Stakeholders
individuals, groups, or organizations that have an interest or concern in a particular project,
decision, or outcome
Business laws
a set of rules and regulations that govern the rights, relations, and conduct of individuals and
businesses engaged in commerce and trade
Conflict of interest
when an individual's personal interests interfere with their professional responsibilities or
decisions, potentially leading to biased or unethical outcome
Five key departments in an Organization
1. Marketing
2. Human Resources
3. Research and Development (R&D)
4. Accounting and Finance
5. Information Technology (IT)
Marketing
- customer and market research - studies the market to evaluate the chances of the idea's success.
help set the pricing and positioning for new proposed product idea
- target market identification - identifies the potential target audience based on the unique selling
proposition
