Business Essentials-Chapter 3

Front 1

Ethics

Back 1

Individual standards or moral values regarding what is right and wrong or good and bad

Front 2

what is ethical behaviour

Back 2

ethical behaviour is behaviour that conforms to individual beliefs and social norms about what is right and good

Front 3

what is unethical behaviour?

Back 3

unethical behaviour is behaviour that individuals beliefs and social norms define as wrong and bad

Front 4

what are business ethics?

Back 4

ethical or unethical behaviours by a manager or employee of an organization

Front 5

what are managerial ethics?

Back 5

they are standards of behaviour that guide individual managers in their work

Front 6

Social Responsibility

Back 6

a business's code of ethical behaviour toward the environment, its customers, its employees and its investors

Front 7

organizational stakeholders

Back 7

groups, individuals and organizations that are directly affected by the practices of an organization and thhat therefore have a stake in its performance

Front 8

pollution

Back 8

the introduction of harmful substances into the environment

Front 9

air pollution

Back 9

pollution that occures when a combination of factors lowers air quality

Front 10

global warming

Back 10

an increase in the earth's average temperature.

Front 11

toxic waste

Back 11

pollution resulting from the emmision of chemical and or radioactive byproducts of various manufacturing processes into the air water or land

Front 12

recycling

Back 12

the reconversion of waste materials into useful products

Front 13

biomass

Back 13

plant and animal waste used to produce energy

Front 14

Consumerism

Back 14

a social movement that seeks to protect and expand the rights of consumers in their dealings with businesses

Front 15

collusion

Back 15

an illegal agreement among companies in an industry to "fix" prices for their products.

Front 16

stealth(undercover) advertising

Back 16

companies paying individuals to extol the virtues of their products without disclosing that their are paid to do so

Front 17

Whistle-Blower

Back 17

An individual who calls attention to an unethical, illegal, and/or socially irresponsible practice on the part of a business or other organization

Front 18

Cheque Kiting

Back 18

the illegal practice of writing cheques against money that has not yet arrived at the bank on which the cheque has been written, relying on that money arriving before the cheque clears.

Front 19

insider trading

Back 19

the use of confidential information to gain from the purchase or sale of stock

Front 20

obstructionist stance

Back 20

a company that does as little as possible to solve social or environmental problems.

Front 21

defensive Stance

Back 21

An organization does only what is legally required and nothing more.

Front 22

accommodative stance

Back 22

a company meets all of its legal and ethical requirements and in some cases even goes beyond what is required

Front 23

proactive stance

Back 23

an organization that actively seeks opportunities to be socially responsible

Front 24

Social Audit

Back 24

A systematic analysis of how a firm is using funds earmarked for social responsibility goals and how effective these expenditures have been

Front 25

triple bottom line reporting

Back 25

measuring the social environmental and economic performance of a company