Shared Flashcard Set

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Chapter 2 Business notes
Study
8
Business
11th Grade
10/08/2008

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Cards

Term

What are Business Ethics?

Definition
They are the standards of conduct and moral values governing actions and decisions in the work environment.
Term
What are the issues of Social Responsibility?
Definition
  • Philosophies
  • Policies
  • Procedures
  • Actions that enhance society's welfare
Term
A company has responsibilities to what groups?
Definition
  • Consumers
  • Employees
  • Investors
  • Society as a whole
Term
What are Individual Ethics?
Definition
Individual ethics shape a firm's decisions and actions
Term
What factors shape Individual Ethics?
Definition
  • Individuals weighing what's right and wrong before taking actions
  • By the ethical climate
  • By a firm's code of conduct
  • By a firm's framework
Term
What is an Ethical climate?
Definition
The prevailing combination of a company's stated beliefs and its real actions
Term
What are Codes of Conduct?
Definition

A made up statement in which the "right thing to do" is encouraged and applauded

Term
Describe a Firm's Framework
Definition
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