Chapter 4 Business Ethics and Social Responsibility

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Ethics
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Is the set of moral principles by which people conduct themselves personally,socially, or professionally.
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Business Ethics
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Is a set of laws about how a business should conduct itself.
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Sweatshops
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Are factories that have unsafe working conditions, treat workers badly, and pay poorly.
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Occupational Safety and Health Administration
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Is a division of the Department of Labor that sets and enforces work-related health and safety rules.
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Code of Ethics
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Is a set of strict guidelines for maintaining ethics in the workplace.
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Social Responsibility
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Is the duty to do what is best for the good of society.
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Conflict of Interest
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Is when a business is tempted to put profits before social welfare.
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Food and Drug Administration
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A government agency, protects consumers form dangerous or falsely advertised products.
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Equal Pay Act
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Requires that men and women be paid the same wages for doing equal work.
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Environmental Protection Agency
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A federal agency that enforces rules that protect the environment and control pollution.

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