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15 Cards in this Set

  • Front
  • Back
What are the moral principles and values that govern the actions and decisions of an individual or group?
What are based on society's values and standards and are enforceable in the courts?
What refers to the set of values, ideas, and attitudes that are learned and shared among the members of a group?
consists of the "effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings
business culture
means "let the buyer beware": it was the responsibility of the buyer, not the seller, to ensure the quality of a purchase.
caveat emptor
involves the collection of trade secrets or proprietary information from a company's competitors
Economic espionage
where the money is paid before the exchange occurs
where the money is paid afterward
reflects the shared values, beliefs, and purpose of employees that affect individual and group behavior
corporate culture
holds that companies have a simple duty--to maximize profits for their owners or stockholders
profit responsibility
occurs when a company makes excessive profits, usually by taking advantage of a shortage of supply to charge extremely high prices
focuses on the obligations an organization has to those who can affect achievement of its objectives
stakeholder responsibility
refers to obligations that organizations have (1) preserve the ecological environment (2) serve the general public
societal responsibility
involves conducting business in a way that protects the natural envrionment while making economic progress
sustainable development
a systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility
social audit