WGU - D072 Study Guide 2024 with Complete Solutions!

Define ethics. - ANSWER-Principles that serve as a compass about how to behave Provide an example for each of the following: legal-ethical legal-unethical illegal-ethical conflicts - ANSWER-legal-ethical: by law in most states it is illegal to take part in recreational marijuana use; and a judge that is trying a case about marijuana possession agrees with the law and does not think its okay to consume marijuana for recreational use. legal-unethical: cheating on your boyfriend/girlfriend is legal but most people find it unethical. illegal-ethical: speeding is illegal but in some cases of an emergency some people might find it ethical. Define legal. - ANSWER-An act that is allowed or is in conformity with the law of the land Define values. - ANSWER-Stable life goals that people have that reflect what is most important to them Define morals. - ANSWER-Rules people develop as a result of cultural norms and values and are, traditionally passed down through generations and characterize a cultural group Define organizational ethics. - ANSWER-Rules, principles, and standards for deciding what is morally right or wrong when doing business List the four main levels of ethical issues and provide an example of each. - ANSWER-Societal Issues: an organization holds a fundraiser to help feed the homeless. Stakeholder Issues: A company insists on treating suppliers with respect and refuses to push them to the lowest pricing possible. Internal Policy Issues: Fairness in management, pay, and employee participation. Personal Policy Issues: Gossiping at work or taking credit for another's work. How does a company's ethical behavior impact organizational outcomes? - ANSWER-Trustworthy companies are better at attracting and keeping customers, keeping talented employees, and capitol. How does a company's unethical behavior impact organizational outcomes? - ANSWER-They suffer from dwindling customer bases, employee turnover, and investor mistrust. Define corporate social responsibility (CSR). - ANSWER-Philosophy in which a company voluntarily engages in actions that benefit society, be it economically, socially, politically, or environmentally How is a company's CSR approach shaped? - ANSWER-By seeing that their community is lacking something that they can provide, earning more profit and reputation Who is considered a company stakeholder? - ANSWER-Unions employees consumer investors suppliers local and national governments communities. What is the aim of CSR? - ANSWER-To increase profits and trust in the long-term while promoting positive community relations What is the purpose of the World Trade Organization (WTO)? - ANSWER-improve the stability an