Understanding Business 11th Edition Ch. 4 – Flashcards

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Ethics
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Standards of moral behavior, that is, behavior accepted by society as right versus wrong.
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Compliance-based ethics codes
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Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers.
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Integrity-based ethics codes
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Ethical standards that define organization's guiding values, create an environment that supports ethically sound behavior, and stress a sheared accountability among employees.
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Whistleblowers
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Insiders who report illegal or unethical behavior
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Corporate social responsibility (CSR)
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A business's concern for the welfare of society.
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Corporate Social Initiatives
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Enhance forms of corporate philanthropy directly related to the company's competencies.
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Corporate Responsibility
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The dimension of social responsibility that includes everything from hiring minority workers to making safe products.
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Corporate Policy
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The dimension of social responsibility that refers to the position of firm takes on social and political issues.
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Insider Trading
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An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends.
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Social Audit
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The systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs.
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Corporate Philanthropy
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The dimension of social responsibility that includes charitable donations.
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question
Ethics
answer
Standards of moral behavior, that is, behavior accepted by society as right versus wrong.
question
Compliance-based ethics codes
answer
Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers.
question
Integrity-based ethics codes
answer
Ethical standards that define organization's guiding values, create an environment that supports ethically sound behavior, and stress a sheared accountability among employees.
question
Whistleblowers
answer
Insiders who report illegal or unethical behavior
question
Corporate social responsibility (CSR)
answer
A business's concern for the welfare of society.
question
Corporate Social Initiatives
answer
Enhance forms of corporate philanthropy directly related to the company's competencies.
question
Corporate Responsibility
answer
The dimension of social responsibility that includes everything from hiring minority workers to making safe products.
question
Corporate Policy
answer
The dimension of social responsibility that refers to the position of firm takes on social and political issues.
question
Insider Trading
answer
An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends.
question
Social Audit
answer
The systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs.
question
Corporate Philanthropy
answer
The dimension of social responsibility that includes charitable donations.