Ethics Quiz 4/4

Directors operate under state laws that impose fidciary duties on them to act in ____ ____, with ____ ____ and in the ____ ____ of the corporation and its shareholders.

Courts generally discuss three types of fiduciary obligations

requires a director to avoid commiting...acts beyond the scope of the powers of a corporation as defined by its charter or the laws of the state of incorporation

dicates that a director must act in good faith and must ont allow his personal interest to prevail over the interests of the corporation

requires a director to be diligent and prudent in managing the corporations afairs.

The coporation is accountable legally to _____, and strategically to additional ______

the board of directors must take all stakeholder interests into account and make sure that they are built into the company's vision, mission, strategy, policies, codes, practices, compliance mechanisms, and feedback arrangements.

Approprate _____ reinforced by ____ _____ must be given to management, and reinfoced by an ethical corporate culture.

a company's ________ _______ role is to assess whether its policies are comprehensive and are being observed.

watches over the ethical culture and serves as the person to whom whistleblowers report anonymously.

Beliefs motivate people to

The actions of individual personnel are undestood collectively to be the

The identification, assessment, and ranking of stakeholder interests should develop a comprehensive _____ __ _____ for an organization

Hypernorms include

Culture where this value system comes from
Rights based; rights, justice, utility

Culture where this value system comes from
Duty Based: obligation to family

Culture where this value system comes from
Duty Based: Obligation to company

Culture where this value system comes from
Duty Based- obligation to savior

Culture where this value system comes from
Personal rights

Culture where this value system comes from
Duty Basedly, religious values: obligation to fami

A corporation that has a code of conduct without supporting it in an ethical culture is simply engaging in

Threats to Good Governance & Accountability

Frequently employees are tempted to cut etchical corners and they have done so because they believed

Recognition of the increasing complexity colatility and risk inherent in modern corporate interes and operations has led to requirements for

Normal definitions of risk are too narrow for stakeholder-oriented accountability and governance
an ethics risk exists where the expectations of stakeholder may not be met
discovery and remediation are essential in order to avoid a crisis or the loss of support of stakeholders
assign responsibility, develop annual precesses, board review

occurs when the independent judgement of a person is swayed or might be swayed from making decision in the best interest of thers who are relying on that judgment.

is expected to make judgements in the best interest of the company

is legally expected to make judgements in the best interest of the company and its sharehodlers, and do do so strategically so that no harm and perhaps some benefit will come to other stakeholders and public interest

expected to make judgments that are in the public interest

A decision maker has a conflict of interest if and olnly if

any interest, influence, loyalty, concern, emotion, or other feature tending to make judgement less relable than normal

Causes of conflicting self interest
Bribes, kickbacks, family, designess, gifts, free travel, favors, special advantages, special treatment, dealings with family relatives or relations

Causes of conflicting self interest
misappropriation of funds of property, cheating on expense accounts, falisifying documents, stealing cash, assets, or resources, falsifying resluts to obtain bonuses, merit pay or promotion

Causes of conflicting self interest confused signals or incentives, boss/everybody's doing it, cultural differences

Causes of conflicting self interest
whee a small favor leads to ever larger demands

D is not yet in a situation in which D must make that dugement

D is in a situation in which d must make that judgement

no conflict of interest exists, although as a result of lack of informaiton someone other than D owuld be justified in concluding that D does have one

To remedy the concerns over a conflict of interest

Guidelines for acceptance of gifts or prefential treatemtn (7)

describes those measures and methods that would prevent the transimission of client information from on part of an organization or consortium to another

forensic experts indicate that the general population can be divided into three groups

stands for circumstances that account for motication of illicit behavior-