Chapter 4 Intro to Business : Ethics

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

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