ETHICS MIDTERM REVIEWER Flashcards
(94 cards)
defines how people choose to interact with one another
ethics
greek word meaning character
ethos or ethikos
latin word meaning customs
mores
defined as what is good for the individual and for society
ethics in philosophy
the practice of what is morally and ethically right in the conduct of business or doing what is right in transactions
business ethics
personal, binded by religion
moral
binded by laws and customs
ethical
level of business ethics: citizens, personal values, can be changed by corporate law
individual
level of business ethics: corporate law, values in the company, interpretation of the macro values, cannot be changed by individual law
corporate
level of business ethics: whole society, individuals and companies, involves philippine law
macro
Core principles of business ethics: transparency
honesty
Core principles of business ethics: doing right even when no one is watching, consistency, earned trust of its state
integrity
Core principles of business ethics: fulfill commitments even when it is hard
keeping promises
Core principles of business ethics: not putting their self-interests above anything that will jeopradize the company’s position
loyalty
Core principles of business ethics: exercise of compassion and sincerity
caring
Core principles of business ethics: obeying the rules
obeying the law
Core principles of business ethics: strive to achieve excellence and deliver the highest quality products
excellence
Core principles of business ethics: leadership by example
being a leader
Core principles of business ethics: act ethically to enhance the company’s image
morale
Core principles of business ethics: being responsible for one’s actions
accountable
components of code of ethics: an organization’s internal conduct and its relationships
value
components of code of ethics: supporting the values of the organization
principles
components of code of ethics: members that implements principles and values
management support
components of code of ethics: everyone is obliged to perform
personal responsibility