Reviewer Flashcards
(21 cards)
What is the significance of business ethics?
-Building trust
-enhancing reputation
-ensuring long term success
-refers to the application of ethical values to business behavior.
BUSINESS ETHICS
Core principles of business ethics?
1.HONESTY
2.INTEGRITY
3.TRUSTWORTHINESS
4.RESPECT FOR OTHERS
5.RESPONSIBILITY
6.FAIRNESS
7.CARING
8.CITIZENSHIP
BENEFITS OF BUSINESS ETHICS
1.EHANCED REPUTATION AND TRUSTWORTHINESS
2.CUSTOMER LOYALTY AND SATISFACTION
3.ATTRACTION AND RETENTION OF TALENT
4.OPERATIONAL EFFICIENCY AND EMPLOYEE MORALE
5.ATTRACTION OF LEGAL ISSUES
6.INVESTOR ATTRACTION
7.COMPETITIVE ADVANTAGE
8.FINANCIAL PERFORMANCE
9.POSITIVE SOCIETAL IMPACT
-Maintaining consistency.
Integrity
-Being truthful.
Honesty
recognizing the inherent.
Respect for others
-Building and maintaining trust.
Trustworthiness
-Ensuring impartiality.
Fairness
-Acknowledging and accepting.
Responsibility
-upholding civic virtues.
Citizenship
-demonstrating compassion
Caring
-Beyond internal benefits.
positive societal impact
-ethical companies often experience.
financial performance
-ethical behavior differentiates.
competitive advantage
-ethical practices.
Investor attraction
-adhering to ethical standards.
avoidance of legal issues
-A culture seek.
Operational efficiency
And employee morale
-professionals often seek.
attraction and retention of talent
-Ethical conduct.
customer loyalty and satisfaction
-Companies known for ethical behavior.
enhanced reputation and trustworthiness
