Term
| What are Business Ethics? |
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Definition
| Business ethics are the standards of conduct and moral values governing actions and decisions in the work environment |
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Term
| What are 3 social issues that businesses have to take into account? |
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Definition
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Term
| What are the 3 social issues a part of ? |
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Definition
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Term
What is social responsibility? |
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Definition
| Social Responsibility is the philosophies, policies, procedures, and actions that enhance society’s welfare |
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Term
Through ethics and social responsibility, where do businesses find a balance? |
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Definition
| Between doing what is right and doing what is profitable |
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Term
Business is ethics in practice. True or False? |
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Definition
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Term
| To whom do companies have responsibilities to? |
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Definition
To its consumers To its employees To its investors To society as a whole
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Term
| How can conflicts arise in a business? |
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Definition
| When the business is trying to serve the different needs of each of the groups it owes responsibility to. |
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Term
| What shape's a firm's decisions and actions? |
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Definition
| The individual ethics of staff at all levels |
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Term
Business ethics are shaped by what factors? |
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Definition
By individuals weighing what’s right and wrong before deciding or taking action By the ethical climate By a firm’s codes of conduct By a firm’s framework designed to encourage, or demand, high ethical standards from its workers
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Term
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Definition
| Ethical climate is the prevailing combination of a company’s stated beliefs and its real actions. |
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Term
| What are codes of conduct? |
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Definition
| Codes of conduct are usually made up of statements in which the “right thing to do” is encouraged and applauded |
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