BUSINESS ETHICS FINALS EXAM ORGANIZATIONAL CULTURES - acquaint all the members of the corporation ofits ideal corporate culture. CORPORATE CULTURE - values, standards, attitudes and beliefs shared by the members of an organization. ~ guides its members on the proper way of handling businesstransactions and interacting with fellow members. Examples of the common organizational cultures that people see frequently in one form or the other. 1 TEAM-ORIENTED CULTURE - prioritizes the employees happiness. These types of organizations believe that when an employee is happy, they become more productive, and are thus mare willing to go the extra mile for their company, and their customers. - characterized by regular socializations with teammates in and outside of work, employees who interact with different departments, and thoughtful feedback from employees during surveys. 2. ELITE CULTURE - hire only the best qualified individuals, and are expected to lead the way. This results to fast growth for the company ‘and new ways of doing things. In an elite culture environment, employees often prioritize work, and are expected to work long hours. High-input individuals also move up the ranks quickly in this kind of culture. 3. HORIZONTAL CULTURE ~ everyone is encouraged to pitch in their ideas. I is common among younger companies. Your job title is not very important in horizontal cultures. Everybody has a voice in the company, and ideas are discussed openly. 4, CONVENTIONAL CULTURE - work in a more traditional manner. A dress code is normally employed in companies that espouse this culture, and clearly-defined hierarchies are employed banks and schools. COMMON PRACTICES IN BUSINESS ORGANIZATION POLICIES AND PROCEDURES - establish the rules of conduct within an organization; and to include issues on ethics, marketing, operation, customer service, finance (accounting, bookkeeping, and reportorial policies; personnel policies, including decorum, protocol, and employee conduct, attendance, dress code, and privacy policies, etc. + enforced to protect stakeholders. Depth and number of procedures depend highly on the needs of the company. ‘1 EMPLOYEE CONDUCT - policy sets the duties and responsibilities each employee must follow as condition of employment, and outline procedures the company may utilize to discipline inappropriate behavior, such as giving warnings or termination of employment. ex. proper dress code, workplace safety procedures, harassment policies, & policies on internet usage. 2. EQUAL OPPORTUNITY ~ promote fair treatment in the workplace. Companies advocate anti-discriminatory policies and encourage unprejudiced behavior within the workplace. HR department normally organizes and establishes policies in order to avoid discrimination against people in regard to race, gender, sexual orientation, religion, or cultural beliefs 3, ATTENDANCE AND TIME OFF - outline the employees responsibility to adhere to work schedules and on how employees may schedule leaves or Notification of an absence or late arrival; discusses the disciplinary action employees face for noncompliance. 4, COMPUTER USE - may implement the use of computer and internet in the workplace to limit unnecessary and time-wasting internet surfing and social media usage, Security-conscious companies may require employees to sign a waiver that allows ‘employers to monitor e-mail or internet activities to ensure confidential information are secured. 5, NONCOMPETITION ~ non-compete agreement limits employee's activity to look for the company's direct competition & prevent disclosure of confidential information;qq includes exclusion to approach the company’s clients for a specific period of time. 6. FINANCE AND ACCOUNTING - deal with how money is handled in the company and how acquisitions and liabilities are recorded. It should have clear guidelines on purchases, petty cash disbursements, and recording. To gain the trust of investors, companies should have their records audited by an external auditor to assure compliance with government bodies and accepted practices. Many corporations in the past have used the financial side of the business to hide problems & wrongdoings.BUSINESS ETHICS MIDTERM EXAM CHRISTIANITY PRAYERS. = Itis the way to communicate with God. It can be formal and ritualistic but they can also be personal and spontaneous. ‘Some traditions encourage prayer to God through intermediaries, such as saints and martyrs. Prayers through the Virgin Mary are central to some churches. CHRUCH ~a structure used for religious activities and worship. Symbolically, it is the body of Christ and is made up of a community of believers. Jesus is the head of the Church & to save others, believers spread Thegospel of the Kingdom ~ place where faith is nurtured and where the Holy Spirit manifests itself on Earth. It is where Christians receive the faith and are brought together into one body through the Eucharist. PRIESTS - Priests, ministers, and vicars are the spiritual leaders of Christians. They worship by reading from scriptures, prayers, speech, music, sermons, and holy ceremonies. BIBLE holy book and a product of divine inspiration and considered by believers as the infallible Word of God. ~ collection of scriptures sacred in Christianity and divided into the Old and New Testaments. Christians believe that God's intentions, revealed in theBible, are the final authority of what is true and right. EUCHARIST ~a celebration during Mass to commemorate the final meal that Jesus took with his disciples before crucifixion. The rite came from the actions Of Christ in taking bread and wine during the Last Supper. He asked his disciples To consume them and continue to do so in his memory. The wine represents his blood; and the bread, his body. SECOND COMING OF JESUS ~ According to the gospels, the return of Jesus to Earth after his ascension to heaven 2000 years ago will come after the apocalyptic signs. ‘THE10 COMMANDMENTS 1 Thou shalt have no other gods before me. 6. Thou shalt not kill. 2, Thou shalt not make unto thee any graven image. 7. Thou shalt not commit adultery. 3. Thou shalt not take the name of the Lord thy God in vain 8. Thou shalt not steal. 4, Remember the Sabbath day and keep it holy. 9. Thou shalt not bear false witness against thy neighbor. 5. Honor thy father and thy mother. 10. Thou shalt not covet anything that is thy neighbor's. DENOMINATIONS ~ Each denomination is further divided, but they all believe in core ideas, such as the resurrection of Christ, authority of the Bible, and eternal life in heaven even if they worship and pray in different ways. 1. ROMAN CATHOLIC - Church as it developed in Western Europe, headed by bishops in communion with the Pope, who is the Bishop of Rome. The Pope is the highest authority in Faith, morality, and Governance. The Church traces its origin to the Christian community founded by Jesus Christ. 2, ORTHODOX = comprises those churches developed in Eastern Europe in communion with the Patriarchal Sees of the East. Similar to the Catholic Church, the Orthodox Church traces its heritage to the foundation of Christianity through apostolic succession. Its main difference with Roman Catholics is the allegiance to the Pope, its emphasis on the use of icons in worship and the date it celebrates Easter. 3. PROTESTANTISM - inaugurated in the 16 century by Martin Luther (Lutherans), Huldrych Zwingli, and John Calvin (Reformed Tradition). More sects followed in the 18th century. ex. Methodism grew under Anglican minister John Wesley; Pentecostal, from Methodism. Methodist and Pentecostals and other evangelicals emphasize accepting Jesus as personal Lord and Savior thus, they are called born-again. Protestants do not acknowledge the Pope and reject many traditions and beliefs of the Catholic Church. They emphasize the importance of reading the Bible, and they hold to the doctrine of salvation by faith alone. ~ As the world’s largest religion, Christianity has more than two billion followers worldwide. It is a monotheistic religion based on the teachings of Jesus Christ as the Son of God and savior. Christians believe in the Holy Trinity as forms of the same God,BUSINESS ETHICS MIDTERM EXAM JESUS CHRIST - the Son of God, Light of the World, Lamb of God, and the Good Shepherd. - The Bible records some events of Jesus of Nazareth’s life story his birth, a brief time in his childhood, and a few years of adulthood when he preached until his crucifixion. He was a Jew who was born in 1 CE in Bethlehem to an Israelite virgin named Mary who becomes miraculously pregnant. According to the canonical gospels from Luke and Matthew, Jesus Christ was born in a manger and wise men came to bring gifts to Jesus, born the King of Jews, as proclaimed by angels. King Herod ordered the massacre of all the boys less than two years of age in Bethlehem, but the family fled to Egypt and settled in Nazareth. He was fully human and had experienced the world as man. ~ He was scourged, mocked, and hung on a cross and crucified Around 33 CE in Jerusalem. Christians believe that God sent his Son to Earth to save men from the consequences of their sins. Jesus Christ then resurrected from the dead and appeared to his disciples as the savior who was promised in the Old Testament. Jesus ascendedinto heaven where Jesus Christ reigns with God the Father. Christians believe that someday, He will return to judge the living and the dead and grant eternal life to His followers. The Holy Spirit was sent to earth to comfort the believers; they were saved and filled with the Holy Spirit. CHRISTIAN BELIEFS + ONE GOD - As a monotheistic religion, Christians believe in one God, the creator and sustainer of life. + JUSTIFICATION BY FAITH - Through believing in Jesus as the Son of God, and in his death and resurrection, Christians can have a right relationship with God, whose forgiveness was made possible through the death of Jesus. Salvation comes through Jesus Christs death and resurrection. Christians are taught that salvation occurs with faithfulness and each must live in accordance with the principles of love + ETERNAL LIFE - Christians believe that there is life after death. Heaven is the final destination of believers. * SAINTS - are recognized when they have lived particularly good and holy lives, with whom miracles are claimed to have been associated after their death. Saints can intercede to God on behalf of Christians. Only the Roman Catholic and Orthodox perform the canonization of saints. ‘THEIMPACT OF CHRISTIANITY IN BUSINESS PRACTICES: = Christians glorify God in many ways-through worship, evangelism, giving alms, having faith and doing actions in imitation of God. A Christian may apply his/her beliefs to align with his/her business practices as demonstrated in the examples below. IN PRODUCING GOODS ~ God has intended for mankind to develop Earth, by imparting the knowledge and skills to be able to make something from the materials that God had provided. But there are temptations that accompany the productions of goods and services when the focus is on acquiring material things. One might also be tempted by pride and turn one’s hearts away from one’s neighbors. Christians are taught to avoid selfishness and greed. Producing harmful, evil or destructive work, such as drugs or pornography, must be avoided. IN EMPLOYING PEOPLE AND BEING EMPLOYED - The Bible does not view hiring another as exploitation. in the Bible, Jesus taught that laborers deserve wages and employers also benefit by having the work done. Employers must exercise caution not to oppress and be unfair. Employees, on the other hand, must exercise caution to avoid carelessness in work, laziness, jealousy, bitterness, dishonesty, theft, or rebelliousness. IN BUYING AND SELLING ~ Commercial transactions are in themselves good because the community is able to help and fulfill each other's needs. Again, Christians must guard themselves from seeking only their good and having no thought of others. One must overcome selfishness. Amassing wealth at the expense of other people is not the Christian way. Cone must not engage in dishonest businesses, use low-grade materials, or overprice goods and services. IN EARNING PROFIT ~The Bible teaches about stewardship expanding or multiplying the possessions God has entrusted mankind. Seeking profit is fundamentally good, however, caution must be made that the profits are not acquired through the exploitation of others or due to unfair business practices. God gives Christians the opportunity to imitate his character and glorify him in everything they do they must reflect God’s attributes of love for others, wisdom, etc.BUSINESS ETHICS MIDTERM EXAM BUDDHISM ~ anontheistic religion based on the teachings of Siddhartha Gautama. The Buddhist way to life is based on a life of peace with universal love and compassion, omniscient wisdom, and boundless spiritual power. Happiness and good fortune arise from peaceful and positive states of mind, while problems and suffering arise from confused, negative states of mind. Buddha taught methods for overcoming negative states, such as anger, jealousy, and ignorance. One must also develop the positive mindset with love, compassion, and wisdom. + There are about 500 million Buddhists worldwide, making Buddhism one of the worlds major religions. SIDDHARHA GAUTAMA * Buddha (enlightened one in Sanskrit) refers to the founder of Buddhism, Siddhartha Gautama. He was the son of King Suddhodana and Queen Maya of the Sakya clan, whose capital was Kapilavastu (present day Nepal). + King Suddhodana determined for his son to be king, prevented Siddhartha to leave the palace grounds. Siddhartha was shielded from religious teachings and from knowledge of human suffering. HISTORY OF BUDDHISM + At age 29, despite his father’s efforts, Gautama ventured outside the palace and encountered the sick, the aged, the suffering, and the dead for the first time. He also met an ascetic holy man who was content and at peace with the world. Thus, he began his quest for spiritual life of meditation. + He lived an ascetic life by begging for alms on the streets. He practiced under two hermit teachers of yogic meditation, mastered the teachings of Kalama, and moved on to study yoga with Udaka Ramaputta. However, Gautama felt that the meditative attainments he has learned did not provide a permanent end to suffering. + After 6 years of his journey, he attained enlightenment under the Bodhi Tree in india. He liberated himself from the cycle of suffering and rebirth, arose, and attained enlightenment. BUDDHISTS BELIEFS + At the heart of Buddhist teaching are the Four Noble Truths: 1. There is suffering that is ingrained and part of life 2. Suffering is due to the attachment to things 3. There is cessation to suffering 4. There is a life path to end suffering + NIRVANA - state of perfect peace of mind that is free from ignorance, greed, and hatred. One can follow the Eightfold Path to attain Nirvana by having the correct focus and behavior. ‘THE NOBLE EIGHTFOLD PATH 1 RIGHT VIEW - to understand wholesome and unwholesome deeds and comprehend the law of Karma 2. RIGHT INTENTION - the intention of non-greed, non-hatred, and non-delusion 3. RIGHT SPEECH - abstaining from false, malicious, harsh speech and idle chatter 4, RIGHT ACTION - -abstaining from killing, stealing, and sexual misconduct 5, RIGHT LIVELIHOOD - abstaining from wrong and corrupt means of livelihood 6. RIGHT EFFORT - awakening zeal for abandoning unwholesome states; arising and sustaining wholesome states 7. RIGHT MINDFULNESS - constant contemplation on body, feelings, mind, and Buddhist teachings 8. RIGHT CONCENTRATION - abandoning lust, ill-will, sloth-torpor, worry, agitation, and doubt through meditation IMPACT OF BUDDHISM IN BUSINESS PRACTICES * Buddhism’s main tenet is to do no harm. An analysis will show that Buddhism an affect business practices positively. + Buddhism emphasizes how to foster minimalistic world view and free oneself from worldly attachments. Buddhist principles teach that opportunity favors the hard worker. + Teachings remind Buddhists to strike a balance between toiling and overworking. Practicing mindfulness can be a key to good business as it helps one to work smartly. The mind & the heart have to be balanced, objective, & mindful of pride. +The Eightfold path states one must see reality unfiltered, say the truth, practice non-harm in words and actions, and commit no wrong, These can be used in the daily lives of business constituents. + One must free oneself from temptations, cravings, and distractions. * Buddhists are reminded to be mindful and to keep calm. + Basic principle: nonexploitation. It emphasizes that there is no need for a connection between what is given and what is received.BUSINESS ETHICS MIDTERM EXAM JUDAISM - oldest monotheistic religion in the world, but the smallest major religion with 18 million followers. A vast majority of Jews are in the United States and Israel while the rest are scattered in Europe, Latin America, Canada, Africa, Australia, and Asia, The Jewish population has only grown 25% since the Holocaust. - emphasizes justice, charity, modesty and doing good deeds. It is through these actions that one can live a proper life. ‘The focus is in the present time on Earth rather than Eternal Life in Heaven. ABRAHAM ~ considered the father of the Jewish people. God has promised to bless Abraham and all his descendants but he must have faith and obey God. He was instructed to leave Haran, his country, with his wife Sarah, and his nephew Lot. They left for Canaan but due to severe famine in the area, the family tied towards Egypt. The Pharaoh demanded them to leave when he found out that Sarah was Abraham's wife. They settled in Hebron, but later on, Lot chose to live in Sodom after a dispute in herding sheep came between him and his uncle. + For his obedience, God promised abundant prosperity for him and his descendants. When Sarah passed away, he took another wife whom he had 6 sons. He lived until the age of 175, having lived to see the birth of his grandsons. Moses - another important leader of the religion who freed the Jews from slavery. In the Bible, the descendants of Israel became slaves and suffered greatly under the Pharaoh. God, through Moses, saved them by leading them to Mount Sinai, God revealed Himself to the people and offered them a covenant to be the Chosen People. God later gave Moses the Torah that lists the laws and commandments of God. JEWISH BELIEFS ONE GOD + There is one God, creator of the universe, and main power in the universe. Man is created in the image of God and is given free will, therefore, responsible for his actions and God will judge the person in the end of days. JEWISH IDENTITY JEW - all the descendants of Jacob (son of Isaac) and Judaism is used to refer to their beliefs. + In the Bible, Jews were originally called Hebrews. Hebrew was derived from eyver which means “the other side” to refer to Abraham who was spiritually and morally separated from other nations of the land. Jews believed that God made a covenant with Abraham and his descendants Isaac (Abraham's son) and Jacob (Isaac’s son) to bless them if ‘they worshipped God and remained faithful to Him. - Israelites, descendants of Jacob, whom God gave another name, Israel. After the death of King Solomon, Israel was split into the kingdom of Judah (Yehudi in Hebrew) and the kingdom of Israel. In the 6th century BC, the kingdom of Israel was conquered by Assyria and the tribes were exiled from the land. Only the people in the kingdom of Judah carried on with the heritage of Abraham and up to this day, continue to call themselves Yehudim or Jews. ~ can be any person who has a Jewish mother regardless of whether that person practices Judaism or not. A person who has gone through the formal process of conversion to the faith is accepted as a Jew. The ritual requires immersion and circumcision for males. HOLY BOOK + TaNaCh - acrostic for the 3 groups of books of Jewish scriptures. +Ta= Torah - most important of the Jewish writings comprised of the first 5 books of the Hebrew Bible. The written Torah describes the history of the Jews until the death of Moses. It includes Genesis, Exodus, Leviticus, Numbers, and Deuteronomy. ‘The 2 other parts of the Holy Book are group into Nevi im (Na) for the prophets and Kethuvim (Ch) for the writings. + SCRIPTURES - used in services are written in Torah scrolls using Hebrew calligraphy. + YAD - a pointer shaped as a hand with a pointing index finger is used to assist the reader to follow the words in the scroll. It is forbidden to touch the scrolls for various reasons the holiness of the scrolls and the practical reason that sweat acids might damage the parchment over time. Scrolls are kept in an Ark of the covenant. + TALMUD - the oral Torah, contains collective stories and explanations, laws, moral discussions, and medical knowledge + ORAL TORAH - tradition that is believed to have been taught to Moses by God and passes on through oral form until it was written down in the Mishnah,BUSINESS ETHICS MIDTERM EXAM ISRAEL JERUSALEM - holiest city and the capital of Israel. Living outside of Israel is considered unnatural for the Jews Their prayers would always include a return to Israel and Jerusalem. THE MASHIACH (MESSIAH) + mission: bring political and spiritual redemption to Jews, restore Jerusalem, and rebuild the Temple. Israel will also be the center of all world government and the Maschiach will restore Jewish law as the law of the land. Messiah idea is not of the savior but of a great human leader. Jews don't believe Jesus was the Messiah, as he did not do any of the things the scriptures said and Maschiach would do. RABBIS AND SYNAGOGUES * RABBIS - spiritual leaders educated in halakhah or Jewish laws and traditions to lead the community and provide guidance and education; do not have special authority to conduct services. Members of the community can lead services even when a rabbi is available + SYNAGOGUE - place of worship where Jewish people congregate, study, and do charitable work. These are run by laypeople and financed by membership dues. “place of assembly” reform Jews used the word “temple” referring to the Temple in Jerusalem. > Orthodox uses ‘shul” (school), emphasizing its role as a place for study. SABBATH ~ a Jewish holy day that begins at the sunset on Friday until the sunset on Saturday. Itis a day of rest to thank God for creating the universe. During Sabbath, Jews are prohibited to do anything that might be counted as work including cooking, writing, buying or selling things using electrical devices, building or fixing things, and driving. * On Sabbath, families share a meal and eat challah-a special braided bread. The bread commemorates the manna that fell from the heaven when the Israelites wandered in the desert after the Exodus. LIFE EVENTS + At8 days old, the BRIT MILA, a circumcision ceremony and a baby naming ritual, is performed. BAR MITZVAH - coming of age celebration for boys when they turn 13 years old. BAT MITZVAH - coming of age celebration for girls when they turn 12 years old + BAR/BAT MITZVHA - “son/daughter of the commandments” in Hebrew; considered as full-grown men and women and are expected to follow the Jewish law. Ceremonies are not required to confer their rights and obligations. JEWISH WEDDINGS + KIDDUSHIN - 1st part, involves the groom giving the bride a ring, followed by the reading of the marriage contract. + KETUBAH - contract includes the terms of marriage and divorce. + NISUIN - 2nd part, wherein the couple stands under the CHUPPAH: a decorated four-poster canopy. It is a symbol of their dwelling together as husband and wife. JEWISH LAWS + HALAKHAH - the path that one walks; a set of rules & practices followed by the Jews based from the Torah & Talmud. It includes rules about food, appropriate clothes, how to conduct business, who one can marry, & how to treat God, people, & animals. One is constantly reminded of the relationship with God through these daily rituals & practices. + KOSHER FOOD - foods conforms to Jewish laws. + KASHRUT - set of religious rules that Jews follow in preparing kosher food. It prohibits mixing dairy and meat, and the consumption of animals without split hooves such as hare and horse, or animals that do not chew their cud, such as pigs. Prescribed Jewish rituals must be followed to slaughter animals. Fish that has scales and fins are permitted but seafood are prohibited FORMS AND DENOMINATIONS + RABBINIC JUDAISM - main movement characterized by the belief that the written Torah has to be interpreted with the oral Torah. 3 main denominations: each has its own practices according to their interpretation of Jewish laws. 1, ORTHODOX JUDAISM - Orthodox Jews believe that laws given by God are timeless and can never be changed. 2. REFORM JUDAISM - does away with strict dietary requirements and Sabbath but focuses on the moral laws of the religion and emphasizes personal connection to traditions. 3. CONSERVATIVE JUDAISM - developed after leaders found Reform Judaism too radical and wanted to preserve Jewish traditions instead of changing the laws. It teaches that the law is not static and has to ‘change to reflect modern times and conditions.BUSINESS ETHICS MIDTERM EXAM ‘THE PYRAMID OF CORPORATE SOCIAL RESPONSIBILITY + a graphic depicting the four-oart definition of CSR that envisions a pyramid composed of four layers. —, Phitanthro | Responsioiies | Be a good corporate citizen. Ethical | Responsibilities L Be ethical. Legal | Responsibiities Obey the law. / Economic Responsibilities Be profitable. Source: Carroll (1996) + ECONOMIC RESPONSIBILITIES - to provide investors with adequate and attractive returns on their investments. Be profitable. Maximize sales, minimize costs. Make sound strategic decisions. Be attentive to dividend policy. > ECONOMIC COMPONENTS 1 Important to perform in a manner consistent with maximizing earning per shape 2. Important to be committed to being as profitable as possible 3. Important to maintain a strong competitive position 4. Important to maintain high level of operational efficiency 5, Important that a successful firm be defined as one that is consistently profitable. + LEGAL RESPONSIBILITIES - to obey all laws, adhere to all regulations. This included environmental and consumer laws, laws protecting employees, fulfilling all contractual obligations and honoring warranties and guarantees. > LEGAL COMPONENTS 1L Important to perform in a manner consistent with expectations of government and the law 2. Important to comply with various national and supra-national laws and regulations. 3. Important to be a law-abiding corporate citizen. 4. Important that a successful firm be defines s one that fulfils its legal obligations 5, Important to provide goods and services that at least meet the minimal legal requirements + ETHICAL RESPONSIBILITIES - obligation to do what is right, just, & fair and to avoid or minimize hard to stakeholders (employees, consumers, the environment, & others). Avoid questionable practices, Respond to spirit as well as letter of law. Law - a floor on behavior, operate above min. required. Do what is right, fair, & just. Assert ethical leadership. > ETHICAL COMPONENTS 1 Important to perform in a manner that is consistent with the expectations of societal mores and ethical norms 2. Important to recognize and respect new or evolving ethical/moral norms adopted by society 3. Important to prevent ethical norms from being compromised in order to achieve corporate goals 4. Important that good corporate citizenship be defined as doing what is expected morally or ethically 5, Important to recognize that corporate integrity & ethical behavior go beyond mere compliance w/ laws & regulations. + PHILANTHROPIC RESPONSIBILITIES - business is expected to be a good corporate citizen—to contribute financial and human resources to the community and to improve the quality of life. Provide programs supporting community education, health/human services, cultures and arts, civic. Promote and engage in volunteerism. > PHILANTHROPIC COMPONENTS 1. Important to perform in a manner consistent with the philanthropic and charitable expectations of society 2. Important to assist the fine and performing arts 3. Important that managers & employees participate in voluntary and charitable activities within their local communities 4, Important to provide assistance to public and private educational institutions 5, Important to assist voluntarily those projects that enhance a community's ‘quality of life’.