F BUSN Ch. 2 Ethics

A set of beliefs about right and wrong, good and bad.

Ethical norms that apply to all people across a broad spectrum of situations.

Who you are as a human being Your family Your culture

The application of right and wrong, good and bad in a business setting.

A decision that involves a conflict of values; every potential course of action has some significant negative consequences.

A formal, written document that defines the ethical standards of an organization and gives employees the information they need to make ethical decisions across a range of situations.

Employees who report their employer’s illegal or unethical behavior to either the authorities or media.

The obligation of a business to contribute to society.

Any groups that have a stake–or a personal interest–in the performance and actions of an organization.

A social movement that focuses on 4 key consumer rights: • Right to be Safe • Right to be Informed • Right to Choose • Right to be Heard

Strategy of deliberately designing products to fail in order to shorten the time between purchases.

US federal legislation that sets higher ethical standards for public corporations and accounting firms. Key provisions limit conflict-of-interest issues and require financial officers and CEOs to certify the validity of their financial statements.

All business donations to not-for-profit groups, including money, products, and employee time.

Marketing partnerships between businesses and not-for-profit orgs, designed to spike sales for the company and raise money for the not-for-profit.

Business contributions to the community through the actions of the business itself rather than donations of money and time.

Doing business to meet the needs of the current generation, without harming the ability of future generations to meet their needs.

Amount of greenhouse gases that a firm emits throughout its operations, both directly and indirectly.

Developing and promoting environmentally sound products and practices to gain a competitive edge.

A systematic evaluation of how well a firm is netting it’s ethics and social responsibility goals.