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20 Cards in this Set
- Front
- Back
business ethics
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Accepted principles of right or wrong governing the conduct of businesspeople.
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ethical strategy
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A course of action that does not violate a company's business ethics.
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Foreign Corrupt Practices Act
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U.S. law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions.
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Organization for Economic Cooperation and Development
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A Paris-based intergovernmental organization of wealthy nations whose purpose is to provide its 29 member states with a forum in which governments can compare their experiences, discuss the problems they share, and seek solutions that can then be applied within their own national contexts.
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Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
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an OECD convention that establishes legally binding standards to criminalize bribery of foreign public officials in international business transactions and provides for a host of related measures that make this effective.
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social responsibility
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The idea that businesspeople should consider the social consequences of economic actions when making business decisions.
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ethical dilemma
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A situation in which there is no ethically acceptable solution.
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organization culture
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The values and norms shared among an organizations employees.
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cultural relativism
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The belief that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate.
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righteous moralist
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Claims that a multinationals home-country standards of ethics are the appropriate ones to follow in foreign countries.
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naive immoralist
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Asserts that if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either.
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utilitarian approaches to ethics
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These hold that the moral worth of actions or practices is determined by their consequences.
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Kantian ethics
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Holds that people should be treated as ends, and never purely as means to the ends of others.
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right theories
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A twentieth-century theory that recognizes that human beings have fundamental rights and privileges that transcend national boundaries and cultures.
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Universal Declaration of Human Rights
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A United Nations document that lays down the basic principles of human rights that should be adhered to.
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just distribution
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A distribution that is considered fair and equitable.
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code of ethics
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A business formal statement of ethical priorities.
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stakeholders
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The individuals or groups that have an interest, stake, or claim in the actions and overall performance of a company
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internal stakeholders
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People who work for or own the business such as employees, directors, and stockholders.
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external stakeholders
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Individuals or groups who have some claim on a firm such as customers, suppliers, and unions.
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