Importance Of Business Ethics

Front 1

Business Ethics

Back 1

Comprises the principles and standards that guide behavior in the world of business

Front 2

Consumer Bill of Rights

Back 2

Outlined by President John F. Kennedy in 1962

4 basic consumer rights:

1. The right to safety
2. The right to be informed
3. The right to choose
4. The right to be heard

Front 3

Social Responsibility

Back 3

An organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact

Front 4

Ethics

Back 4

The study of the general nature of morals and of specific moral choices; moral philosophy; and the rules or standards governing the conduct of the members of a profession

Front 5

Defense Industry Initiative on Business Ethics and Conduct (DII)

Back 5

Developed to guide corporate support for ethical conduct.
Composed of six principles

Front 6

Federal Sentencing for Organizations

Back 6

Set the tone for organizational ethical compliance programs
Established in November 1991
Rewarded organizations for taking action to prevent misconduct such as developing effective internal legal and ethical compliance programs

Front 7

Ethical Culture

Back 7

Character or decision making process that employees use to determine whether their responses to ethical issues are right or wrong