BA 342 Exam 1 Study Guide I Course Intro a Why take BA 342 class and syllabus b Responsibility and Responsible leadership i Definitions ii Financial Time Definition on Resp Leadership c Brain Stimulation Example i Ex Of where we aren t responsible as we could be d Goldman Sachs and Banking Data Chart e The Entire class is about responsibility i Both personal and corporate ii Drivers population and resource usage f Mega trends in responsible leadership i Note the megatrends g Smeal Strategic Plan i All topics of class are in it 1 Do you know them 2 Ethics corporate and Social Responsibility sustainability and diversity h 4 Big 342 topics i Smeal honor code j Videos and Examples II Ethics Intro a Article The Nexus of Ethics i Ethics is Personal Organizational National and Global ii Opening Story Boeing 1 Boeing 787 Dreamliner 2 Harry Stonecipher Instills a code of ethics a Comes out of retirement to fix issues at Boeing b c Gets government contract back d Sleeps with younger exec and gets fired 3 Elements discussed in class a Should your personal life be fair game in an employment situation If it reflects on you your work life it is fair game i b Ethics Resource Center Data i Know the trends 1 41 Observed Misconduct 2 63 reported misconduct 3 9 Perceived pressure to commit a misconduct 4 21 perceived retaliation from misconduct report ii Know misconduct 1 60 of misconduct by managers 2 24 by senior managers a Present Focus is Top 1 3 of Managers b Past Ethics Focus was bottom 2 3 of Employees 3 of misconduct from managers 4 of US workers perceiving pressure to commit misconduct a 3 Numbers off the slide 5 Trends from 2013 a Number is down from 13 to 9 iii Types of most frequent Observed Misconduct 1 Discrimination 12 2 Conflict of Interest 12 Internet bad use 12 3 4 Abusive Behavior 18 5 Lying to Employees 17 c Millennial data and Themes i Report just as mush as other generations ii More likely to experience retaliation iii Report more to informal sources than formal channels d Spiderman e Ethics Definition i With great power comes great responsibility ii Set of Principles iii Right Conduct iv Underlying values f Right and Wrong Exercise i Flat Screen TV Exercise ii Points Made iii Business ethics vs ethics at extreme iv Most people do want to operate according to values 1 Subset w values 2 Subset w out values g Cultural Relativism Moral Absolutism i Business Ethics Concerned with morality and fairness in behavior actions policies and practices that take place within a business context i Cultural Relativism following a host country s standards ii Ethical Imperialism following your own set of standards in the host country h Hyper Norms i Ethical standards that transcend national boundaries ii International laws and global does of conduct will make things easier i Ethics Decision Making Process i Ethical Awareness ii Ethical Judgment iii Ethical Behavior j Bounded Ethicality i Occurs when managers and employees find that even when they aspire to behave ethically it is difficult due to a variety of organizational pressures and psychological tendencies that intervene ii University of Texas 1 Influenced by situational factors 2 Seldom gather all available info 3 Often don t process all info 4 Don t know what will make them happy iii Situational factors iv We all want to do a good job but we all have limits k Moral disengagement i Convincing oneself that ethical standard don t apply to oneself situation ii Penn State Students doing good things iii College students doing bad things l Values framework i A structured way to analyze or address something that might have ethical implications a What are the things I know don t know 1 Awareness a Define the issue 2 Facts a Anyone who has an interest 3 Stakeholders 4 Standards 5 Values a 6 Actions a Rules policies legal Implement your values a What should we do i You know an employee uses drugs on the job A friend says to confront them and don t tell the m Understand Drug usage on job case supervisor What do you do 1 Report the matter to HR ii Videos III Chapter 7 a Corporate Dilemma Enron Martha Stewart i Sherron Watkins Enron VP is the whistle Blower 1 Enron s ethics code is based on respect integrity communication and excellence ii Martha Stewart 1 Lied to prosecutors for insider trading iii Corporate and Media Dilemma 1 Things companies do that create problems for ourselves 2 Gallop Survey a Rating group high to very high on honesty i Nurses military clergy bus Execs congress car sales b Rating Group Average to Very High on Honesty i Nurses military professors clergy business execs car sales congress b Media Influence Types i News ii Ads iii Movies iv Internet v TV vi Social Media vii How does the media tend to focus on business negative c Conventional Ethics i Conventional Approach 1 2006 study of prime time Television shows that 77 of plots involving business were 1 Based on how common everyday society the average person views business ethics today The conventional approach is based on ordinary common sense and prevailing practice a Comparison of Decision behavior or practice to prevailing norms of acceptability ii Principles Approach 1 Based on the use of ethics principles or guidelines to justify and direct behavior actions policies and practices a Justice rights utilitarianism golden rule virtue caring iii Ethical Tests Approach 1 Based on short practical questions or tests to guide ethical decision making behaviors and practices test a Common sense one s best self public disclosure ventilation purified idea gag d Balancing Ethics Components Book pg 187 i We observe the decision action or practice that has taken place ii We compare the practice with prevailing norms of acceptability 1 Society s or some other standard of what is acceptable or unacceptable iii Value judgments are being made iv Ethical Relativism we pick and choose which source of norms we wish to use on the basis of what will justify our current actions or maximize our freedom e What is Descriptive out to be Normative f Descriptive Vs Normative i Descriptive Ethics concerned with describing characterizing and studying the morality of people An organization culture or a society 1 Compares and contrasts different moral codes systems practices beliefs and values ii Normative Ethics concerned with supplying and uncover develop and justify basic moral principles that are intended to guide behavior actions and decisions 1 Seeks to propose some principle or principles for