Ethics
Personal principles that guide an individual's sense of right and wrong are know as.
What are Morals?
What is the general term that you call someone who owns part of a company?
What is a shareholder?
Any individual or group affected by a companies action is know as
What is a stakeholder?
PICK AGAIN
Double the next questions points for each team.
(Doesn't work for Final Jeopardy)
The process of a production from raw materials to a good for customers including production, transportation, and distribution is known as
What is the supply chain.
What is the principle that determines what is right or wrong based on rules created by some sort of structure (ex. societal norms)
What is maximizing shareholder value?
Edward Freeman argued that a corporation’s duty extends beyond shareholders to these groups
What is all stakeholders?
This type of business structure is owned and operated by one individual with full liability
What is a sole proprietorship?
Adam Smith used this metaphor to describe how the free market naturally regulates itself
What is the invisible hand?
What is Return on Ethics.
Milton Friedman believes that a business should do everything it can to maximize shareholder value EXCEPT
What is CSR (Corporate Social Responsibility)?
Law firms commonly operate under this type of business structure where there are multiple owners
What is a partnership?
The negative mantra used by management at Wells Fargo that led to bad business practices.
What is 8 is great.
Patagonia retaining customers because of it's social outreach and ethical practices is an example of what concept?
What is ROE(return on ethics)
What is opposition to regulation?
A customer, government org, or media outlet would be considered what type of stakeholder?
What is an external stakeholder?
A business structure that offers limited liability and legally acts as it's own entity
What is a corporation?
This term refers to a business using socially responsible messaging as a disguise while really being out for profits
What is the cloak of responsibility?
This concept involves understanding how different parts of the big picture interact and influence each other.
What is Systems Thinking?
Friedman described a corporation spending money on social causes without the shareholders blessing as
What is taxation without representation?
Using shareholder analysis, where would a employee of McDonalds be on their power interest grid?
This business structure provides limited liability while maintaining flexibility in management
What is an LLC
The idea that business decisions can be made without considering ethics is know as
What is the separation fallacy?