Intro To Business - Chapter 4

Front 1

social audit

Back 1

A systematic evaluation of how well a firm is meeting its ethics and social responsibility goals.

Front 2

green marketing

Back 2

Developing and promoting environmentally sound products and practices to gain a competitive edge.

Front 3

corporate philanthropy

Back 3

All business donations to nonprofit groups, including money, products, and employee time.

Front 4

cause-related marketing

Back 4

Marketing parnterships between businesses and non profit organizations, designed to spike sales for the company and raise money for the nonprofit.

Front 5

corporate responsibility

Back 5

Business contributions to the community through the actions of the business itself rather than donations of money and time.

Front 6

sustainable development

Back 6

Doing business to meet the needs of the current generation, without harming the ability of future generations to meet their needs.

Front 7

planned obsolescence

Back 7

The strategy of deliberately designing products to fail in order to shorten the time between purchases.

Front 8

stakeholders

Back 8

Any groups that have a stake - or a personal interest - in the performance and actions of an organization.

Front 9

consumerism

Back 9

A social movement that focuses on four key consumer rights: (1) the right to be safe, (2) the right to be informed, (3) the right to choose, (4) the right to be heard.

Front 10

whistle-blowers

Back 10

Employees who report their employer's behavior to either the authorities or the media.

Front 11

social responsibility

Back 11

The obligation of a business to contribute to society.

Front 12

code of ethics

Back 12

A formal, written document that defines the ethical standards of an organization and gives employees the information they need to make ethical decisions across a range of situations.

Front 13

business ethics

Back 13

The application of right and wrong, good and bad in a business setting.

Front 14

ethical dilemma

Back 14

A decision that involves a conflict of values; every potential course of action has some significant negative consequences.

Front 15

universal ethical standards

Back 15

Ethical norms that apply to all people across a broad spectrum of situations.

Front 16

Ethics

Back 16

A set of beliefs about right and wrong, good and bad.

Front 17

Sarbanes-Oxley Act

Back 17

Federal legislation passed in 2002 that sets higher ethical standards for public corporations and accounting firms.