Shared Flashcard Set

Details

Business Ethics and Social Responsibility
Business Ethics and Social Responsibility
18
Business
10th Grade
09/30/2015

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Cards

Term
Ethics
Definition
Rules that help us tell the difference between right and wrong
Term
Values
Definition
What we think is important and helps us make the decisions about right and wrong
Term
Morals
Definition
Rules we use to decide what is good and bad
Term
Dilemma
Definition
A situation that has multiple outcomes
Term
Code of Ethics
Definition
Document that explains how employees should respond in different situations
Term
Whistle- Blowing
Definition
When an employee makes a decision to inform officials about legal or ethical issues
Term
Fraud
Definition
When a business misleads consumers and tries to trick them into buying something in order to maximize their profits.
Term
Accounting Scandal
Definition
Takes place in large corporations, and its crime involving accountants or senior executives who alter accounting records for personal benefit
Term
Ethical Dilemma
Definition
A moral problem with a choice between potential right and wrong anwsers
Term
Embezzlement
Definition
An accountant or senior executive invents phony accounts and redirects company money into them for personal gain.
Term
Assets
Definition
Buildings, land, equipment, cash, and receivables are items businesses own.
Term
Liabilities
Definition
A debt that a business owes
Term
Corporate Responsibility
Definition
Conducting Business in a way that is in line with society's values.
Term
Social Responsibility
Definition
A business's obligating to maximize its positive impact and minimize its negative impact on society.
Term
Stakeholder
Definition
Anyone who is apart or affected by the company; ie: employees, stockholders, investors, suppliers, outside groups, government, customers, etc.
Term
Ethical decisions
Definition
Made in 6 steps with rules and morals to guide our decision
Term
Social Responsibility Decision
Definition
Is decided by the impact on the community
Term
Four Social Responsibility Issues
Definition
1) Environment protection
2) Workplace Diversity
3) Safety on the Job
4) Employee Wellness
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