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17 Cards in this Set

  • Front
  • Back
Principles and standards that determine acceptable conduct in business
Business Ethics
A business's obligation to maximize its positive impact and minimize its negative impact on society
Social Responsibility
An identifiable problem, situation, or opportunity that requires a person to choose from several actions that may be evaluated as right or wrong.
Ethical issue
Identify some ethical issues in the business realm.
- Abusive and intimidating behavior

- Conflict of Interest

- Fairness and Honesty

- Communications

- Business Relationships
Payments, gifts, or special favors intended to influence the outcome of a decision
Taking someone else's work and presenting it as your own without mentioning the source
Formalized rules and standards that describe what a company expects of its employees.
Code of Ethics
Occurs when an employee exposes an employer's wrongdoing to outsiders
What are the three factors that influence business ethics?
Individual standards and values + Managers' and co-workers' influence + Opportunity: Codes and compliance requirements = Ethical/Unethical choices in business
Indentify the four dimensions of social responsibility.
1. Economic
2. Legal
3. Ethical
4. Voluntary
Dimension of Social Responsibility; Being profitable
Economic Responsibilities
Dimension of Social Responsibility; Obeying the law and playing by the rules of "the game"
Legal Responsibilities
Dimension of Social Responsibility; Doing what is right, just, and fair, and avoiding harm
Ethical Responsibilities
Dimension of Social Responsibility; Being a "good coroporate citizen", and contributing to the community and quality of life
Voluntary Responsibilities
The extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their stakeholders
Corporate Citizenship
Identify social responsibilities to owners, employees, consumers, the environment, and community.
Owners - profit

Employees - safe workplace, adequate pay, and information

Consumers - satisfying, safe products, and respect their rights

Environment - take responsibility for actions and how they affect environment. Animal rights, pollution, and response to environmental issues.

Community - Show concern for the general welfare of the community
The activities that independent individuals, groups, and organizations undertake to protect their rights as consumers