Study Exam for WGU-072 Fundamentals for Success in Business Final test

Study Exam for WGU-072 Fundamentals for Success in Business Final test Ethics Principles that serve as a guide about how to act, i.e. right vs wrong, just vs unjust Legal An act that is allowed or is in conformity with the law of the land Legal- ethical When the law and personal and organizational ethics are in accordance with each other Legal- Unethical Dilemma in which established laws are not in accordance or do not uphold the ethical choice Illegal- Ethical Dilemma in which the ethical choice would be in violation of established laws Pentagon Papers Illegal-Ethical conflict in which U.S. government officials leaked top secret papers to inform the public about government actions during the Vietnam War Personal Ethics codes, principles, and values that shape our interactions with others Values stable life goals that people have, reflecting what is most important to them Morals Rules people develop as a results of cultural norms and values, and are traditionally passed down through generations and characterize a cultural group Organizational Ethics Rules, principles, and standards for deciding what is morally right or wrong when doing business WGU Code of Student Conduct The organizational code of ethics that governs responsible and respectful behavior at WGU Stakeholder Anyone affected by a company's actions Societal Issues Issues relating to the world as a whole Internal Policy Issues Concern for internal relationships between a company and its employees Organizational Culture The shared values, beliefs, and norms of an organizations that affect the strategies and operating procedures of the business International Business Culture Variations in attitudes, values, goals, and practices shared by individuals, organizations, or societies based on geography Culture The sum of attitudes, values, goals, and practices shared shared by individuals in a group, organization, or society Corporate Social Responsibility (CSR) Philosophy in which a company voluntarily engages in actions that benefit society, be it economically, socially, politically, or environmentally Stakeholders Those who have a stake in the performance and output of an organization, such as employees, unions, investors, suppliers, consumers, local and national governments, and communities World Trade Organization (WTO) International organization tasked with promoting global trade, enforcing common trade regulations, and helping promote ethical behavior among members Code of Ethics Guide that publicly sets out an organization's key values and ethical obligations Greenwashing when organizations carry about CSR missions in an inauthentic way, using them to increase publicity rather than to spur real change Internal Transparency Degree to which an organization operates with openness, communication, and accountability Sarbanes- Oxley Act (SOX) Law aimed at improving corporate transparency bu requiring clear reporting practices Whistleblowers Those who tell the public or the authorities about alleged misconduct occurring in a government department, private company, or organization Marketing the "face" of the company Human Resources (HR) deals with all employee-related issues Research and Development (R&D) product improvisation & new product development (NPD) Accounting & Finance the business function that plans and manages financial resources and maintains records and information related to a business's finances Information Technology (IT) deals with all issues related to technology in an organization Process Management/Business Process Management (BPM) the management initiate to design work processes so that they align with the organization's strategic goals Relationship management Part of a strategy to engage existing customers in order to retain them and understand their evolving needs or demands. It is a business paradigm where a business views the association with its patrons as an ongoing relationship rather than a mere transaction Process Management An organization's desire to design processes that will optimize and improve business performance. This task can be completed through automation and use of technology such as robotics Individual Contributor Someone who uses their personal skills to contribute to a team Manager an individual who oversees a certain group pf tasks or a certain subset of a company and often has a staff of people who report to them Interpersonal Role managers focus on relationship building and communication internally within the company and externally with clients and other stakeholders Informational Role managers spend much of their time gathering, analyzing, and disseminating information to those both above and below them Decisional Role managers are responsible for making decisions, allocating resources, and negotiating