Intro to business Chapter 2

  1. Ethics
    the study of right and wrong and of the morality of the choices individuals make
  2. Business Ethics
    the application of moral standards to business situations
  3. Factors that affect the level of ethical behavior in an organization
    • Individual Factors
    • Social Factors
    • Opportunity
  4. Code of Ethics
    a guide to acceptable and ethical behavior as defined by the organization
  5. Whistle-blowing
    informing the or government officials about unethical practices within one's organization
  6. Social Responsibility
    the recognition that business activities have an impact on society and the consideration of that impact in business decision making
  7. Economic model of social responsibility
    the view that society will benefit most when business is left alone to produce and market profitable products that society needs
  8. Socioeconomic model of social responsibility
    that concept that business should emphasize not only profits but also the impact of its decisions on society
  9. Consumerism
    all activities undertaken to protect the rights of comsumers
  10. Affirmative action program
    a plan designed to increase the number of minority employees at all levels within an organization
  11. Pollution
    the contamination of water, air, or land through the actions of people in an industrialized society
Card Set
Intro to business Chapter 2
Chapter 2 Terms