Understanding Business 11th Edition Ch. 4

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

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