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Components of Business Ethics

Categories: Business Ethics

Disclosure the fcpa requires corporations to fully disclose any and all transactions conducted with foreign officials and politicians – Prohibition the fcpa incorporated the wording of the bank secrecy act and the mail fraud act to prohibit the movement of funds overseas for the express purpose of conducting a fraudulent scheme -facilitation payments-payments that are acceptable (legal) provided they expedite or secure the performance of a routine governmental action -routine governmental action- any regular administrative process or procedure, excluding any action taken by a foreign official in the decision to award new or continuing business What is a routine governmental action? see above definition but examples are: providing permits, licenses, or other official documents to qualify a person to do business in a foreign country -processing governmental papers such as visas and work orders -providing police protection, mail pickup and delivery, or scheduling inspections associated with contract performance or inspections related to transit of goods across a country –

Providing phone service, power, and water supply; loading and unloading cargo; or protecting perishable products or commodities from deterioration -performing actions of a similar nature The key distinction in identifying bribes was the exclusion of any action taken by a foreign official in the decision to award new or continuing business.

Such decisions being the primary target of most questionable payments were not deemed to be routine governmental action How many principles are in the Defense Industry Initiative, what are they? 6 * Each company will have and adhere to a written code of business ethics and conduct * The company’s code will establish the high values expected of its employees and the standards by which they must judge their own conduct nd that of their organization; each company will train its employees concerning their personal responsibilities under the code * Each company will create a free and open atmosphere that allows and encourages employees to report violations of its code to the company without fear of retribution for such reporting * Each company will have the obligation to self-govern by monitoring compliance with federal procurement laws and adopting procedures for voluntary disclosure of violations of federal procurement laws and corrective actions taken *

Each company will have the responsibility to each of the other companies in the industry to live by standards of conduct that preserve the integrity of the defense industry * Each company must have public accountability for its commitment to these principles What are the most important regulations covered under the Federal Sentencing Guidelines for Organizations? Federal sentencing guidelines for organizations hold business liable for the criminal acts of their employees and agents, important regs are the culpability score meaning the calculation of a degree of blame or guilt that is used as a multiplier of up to four times the base fine.

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The culpability score can be adjusted according to aggravating or mitigating factors Aggravating factors- -high-level personnel were involved in or tolerated the criminal activity -the organization willfully obstructed justice -the organization had a prior history of similar misconduct the current offense violated a judicial order, injunction or condition of probation Mitigating factors; -the organization had an effective program to prevent and detect violations of law -the organization self-reported the offense to appropriate governmental authorities, fully cooperated in the investigation, and accepted responsibility for the criminal conduct , second reg- death penalty-where the fine is set high enough to match all the organization’s assets-and basically put the organization out of business.

This warranted where the organization was operating primarily for a criminal purpose What are the most important regulations covered under the Sarbanes-Oxley Act of 2002, what is title IX? arbanes-oxley act is a legislative response to the corporate accounting scandals of the early 2000s that covers the financial management of business. I still need to put the most important regulations, Creates more penalties for White collar crimes. It makes each member of the Management Team sign the financial statement and they are now responsible for anything on those statements. -It creates an oversight board for Accounting Firms. title IX is white-collar crime penalty enhancements -provides that any person who attempts to commit white-collar crimes will be treated under the law as if the person had committed the crime -requires CEOs and CFOs to certify their periodic reports and imposes penalties for certifying a misleading or fraudulent report.

What is an internal whistle blower what is an external whistle blower? -Internal is when an employee discovers corporate misconduct and brings it to the attention of their supervisor who then follows established procedures to address the misconduct within the organization -external is when an employee discovers corporate misconduct and chooses to bring it to the attention of law-enforcement agencies and/or the media When is it unethical to blow the whistle? * That the employee is motivated by the opportunity for financial gain or media attention * -employee is carrying out an individual vendetta against the company What are the most important regulations addressed by the whistleblower act of 1989? imposed specific performance deadlines in processing whistleblower complaints -guaranteed the anonymity of the whistle-blower -required prompt payment of any portion of the settlement to which the whistle-blower would be entitled -employees who prevail were entitled to damages which may include: -reinstatement to the same seniority status that the employee would have had but for the adverse employment action -back pay -interest -all compensatory damages to make the employee whole -special damages including litigation costs, reasonable attorney fees and costs, experts witness fess, and all relief necessary to make the employee whole Ch. 8 What is an intranet and what is an extranet?

Intranet – a company’s internal web site containing information for employees only -Extranet- a private piece of a company’s internet network that is made available to customers and/or vendor partners on the basis of secured access by unique password What is telecommuting? -the ability to work outside of your office (from your home or anywhere else) and log in to your company network (usually via a secure gateway such as a VPN, virtual private network) What is Packet-sniffing? -a software that can intercept, analyze, and archive all communications on a network, including employee email, chat sessions, file sharing, and internet browsing. Employees who use the workplace network to access personal email accounts are not provided by the company are not protected.

Their private accounts, as long as they are accessed on workplace network or phone lines can be monitored What is a smart ID card? -Can track an employee’s location while they are on the move through the workplace Ch 9 What are developed nations, what are less developed nations? -Developed nations is a country that enjoys a high standard of living as measured by economic, social, and technological criteria -Less-developed is a country that lacks the economic, social, and technological infrastructure of a developed nation What is a conglomerate versus a multinational corporation (MNC) -Conglomerate- -multinational corporation is a company that provides and sells products and services across multiple national borders What is the Global Code of ethics? a general standard of business practice that can be applied equally to all countries over and above their local customs and social norms What is addressed by the Foreign Corrupt Practices Act? What is the Global Compact? -a voluntary corporate citizenship initiative endorsing 10 key principles that focus on four key areas of concern: the environment, anticorruption, the welfare of workers around the world, and global human rights Who are the OECD and what are some of the guidelines? Guidelines that promote principles and standards of behavior in the following areas: human rights, information disclosure, anticorruption, taxation, labor relations, environment, competition, and consumer protection; a governmental initiative endorsed by 30 members Back to Chapter 1 What is the Golden Rule?

Do unto others as you would have them do unto you What is Utilitarianism? Ethical choices that offer the greatest good for the greatest number of people to help people (Scottish philosopher David Hume) What is Universal Ethics? Actions that are taken out of duty and obligation you a purely moral idea rather than based on the needs of the situation since the universal principles are seen to apply to everyone everywhere all the time (German philosopher Immanuel Kant) no idea needed What is Ethical Relativism? Gray area in which your ethical principles are defined by the traditions of your society, your personal opinions, and the circumstances of the present moment

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