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