Chapter 4 Intro to Business : Ethics – Flashcards
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ethics are moral principles by which people conduct themselves __________________,____________________, and _______________________.
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personally; socially; professionally
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Ethics are ____________ principal principles
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moral
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When you are guided by ________________, you don't cheat on a test or lie to friends or family.
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ethics
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Most businesses are guided by _________ ____________.
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business ethics
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different cultures, business, and industries have different ethical _____________.
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standards
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Business ethics are __________based __________________ about how businesses and employees out to ___________ themselves.
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rules; moral principles; conduct
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in business, good ethics are beneficial for long-term __________________ and _________.
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profitability; sucess
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business ethics include creating safe ____________
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products
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business ethics include creating _________
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jobs
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business ethics include fair treatment of _________
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employees
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business ethics include ___________ protection
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envirnomental
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business ethics include being ___________ about financial status.
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truthful
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benchmarks
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standards
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bribery occurs when people want ____________.
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business deals
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kickbacks
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bribery
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in business, people follow rules as well as a __________ __________ __________.
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code of ethics
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A code of ethics is a set of ______________ for maintaining ethics in the workplace.
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guidelines
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A sweatshop is an example of an ______________ practice _____________ in the US.
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unethical; outlawed
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shop or factory in which workers are employed for long hours at low wages and under unhealthy conditions
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sweat shop
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OSHA
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Occupational safety and Health administration
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sets and enforces work-related healthy and safety rules.
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Occupational safety and Health administration (OSHA)
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OSHA regulates pay discrimination.
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False
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OSHA regulates machine safety.
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True
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If a _____________ violates government regulations, the owner can be ________ or _____________.
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business; fined; go to jail
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if an employee violates a company or profession code, they may be ________ or ________ their license.
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fired; loose license
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Unethical business practices can result in bad word of mouth and result in lost of __________.
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sales
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unethical behavior toward ___________ can lead to legal action o a high rate of employees quitting.
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employees
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the ratio of the number of workers that had to be replaced in a given time period to the average number of workers
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turn-over rate
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a major ethical question that isn't illegal
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conflict of interest
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conflict between self-interest and __________ ________
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professional obligation
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employees have _______ ______ to act in the best interest of the compnay
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ethical obligation
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Is it against the _____?
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law
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Does it _______ company or professional policies?
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violate
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Am I __________ long-term befits?
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sacrificing
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The Ethical decision making process
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1. identify the ethical dilemma 2.discover alternative actions 3.decide who might be affected 4.list the probable effects of the alternatives 5.select the best alternative
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The social responsibility of business takes into _____________ all that business does or _________ ________ do to solve the problems of society.
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consideration; does not
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duty to do what is best for society
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social responbility
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social responbility
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doing what is best for society
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businesses that follow ethical standards value ____________ and ___________ in employees.
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integrity; honesty
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Ethics are an _______ part of their business practices.
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integral
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Some business are concerned about __________ the damage that they do to the environment.
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limiting
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businesses should offer a good, safe product or service at a _______________ price.
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reasonable
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federal agency that protects consumers
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FDA
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fair competition among businesses is ___________ for the marketplace to operate _________.
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necessary; effectively
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Who is affect when companies conspire to restrict competition?
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consumers
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Providing work experience for people with _________ job skills and allowing them to ________
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limited; volunteer
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Providing safe ________ conditions
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working
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_______ treatment
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equal
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_____ pay
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Fair
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requires men and women be paid the same wages
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Equal Pay Act
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bans discrimination against people with physical or mental disability
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Americans with Disabilities Act
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In _________ the US created the EPA.
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1970
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enforces rules that protect the environment and control pollution
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EPA
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makes CEO more accountable for the financial managers and forces them to give truthful reports
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Sarbannes-Oxley Act
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No competition productivity ___________.
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decreases
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What are the 4 responsibilities businesses have to society?
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customers, employees, society, and creditors and owners
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What is the one of the biggest social issues a business faces today?
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Environmental responsibility
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adherence to a code of ethical values, such as honesty, loyalty, and fairness
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integrity
