Chapter 2 Flashcards
(29 cards)
Ethics
the study of right and wrong and of the morality of the choices individuals make
Business ethics
the application of moral standards to business situations
Ethical issues often arise out of a business’s relationship with investors, customers, employees, creditors债权人, suppliers, or competitors
Plagiarism
knowingly taking someone else’s words, ideas, or other original material without acknowledging the source
Conflicts of interest
occur when a business person takes advantage of a situation for his or her interest利益 rather than for the employer’s interest利益
Bribes
gifts, favors, or payments offered with the intent of influencing an outcome–are illegal in the U.S. and abroad.
Unethical communication
False and misleading误导性 advertising is illegal and unethical
Sarbanes-Oxley Act of 2002
provides sweeping new legal protection for employees who report corporate misconduct
Code of Ethics
a guide to acceptable and ethical behavior as defined by the organization
Whistle-blowing
informing the press or government officials about unethical practices within one’s organization向新闻界或政府官员揭发组织内的不道德行为
Social responsibility
the recognition that business activities have an impact on society and the consideration of that impact in business decision-making
Corporate citizenship
adopting a strategic approach to fulfilling economic, ethical, environmental, and social responsibilities
caveat emptor
a Latin phrase meaning “let the buyer beware”
Economic model of social responsibility
the view that society will benefit most when business is left alone to produce and market profitable products that society needs
Socioeconomic model of social responsibility
the concept that business should emphasize not only profits but also the impact of its decisions on society.
Consumerism
all activities undertaken to protect the rights of consumers
The fundamental issues in 3 categories
Environmental protection
Product performance and safety
Information disclosure
6 Basic Rights of consumers
The right to safety
Products that consumers purchase must be safe for their intended use must include thorough and explicit directions for proper use, and must be tested by the manufacturer to ensure product quality and reliability
The right to be informed
Consumers must have access to complete information about a product before they buy it
The right to choose
Consumers must have a choice of products, offered by different manufacturers and sellers, to satisfy a particular need
The right to be heard
Someone will listen and take appropriate action when customers complain
The right to consumer education
People are entitled to be fully informed about their rights as consumers
The right to service
Consumers are entitled to convenience, courtesy, and responsiveness from manufacturers and sellers of consumer products.
Public Health
Businesses have a basic responsibility to contribute to the general well-being of the public
Minority
a racial religious, political, or other group regarded as different from the larger group of which it is a part and that is often singled out for unfavorable treatment
Affirmative action programs
a plan designed to increase the number of minority employees at all levels within an organization
2 problems of Affirmative action programs
Quotas–rules unconstitutional
Lack of support by some businesspeople
Equal Employment Opportunity Commission (EEOC)
a government agency with the power to investigate complaints of employment discrimination and the power to sue firms that practice it
Hard-core unemployed
workers with little education or vocational training and a long history of unemployment
Pollution
the contamination of water, air, or land through the actions of people in an industrialized society.
