UNIT 1: ETHICS AND CULTURE IN BUSINESS - Vocabulary Flashcards

Vocabulary flashcards covering key terms related to ethics and culture in business from the provided lecture notes.

Cross-cultural

Involving two or more different cultures and their beliefs and customs.

ethics

A system of accepted beliefs that controls behaviour, especially such a system based on morals.

Morality

A personal or social set of standards for good or bad behaviour and character; or the quality of being right, honest, or acceptable.

Code of conduct

A set of rules that members of an organization or people with a particular job or position must follow.

values

The beliefs people have about what is important in life and what is right or wrong.

cruelty-free

Not involving cruelty to animals; products or practices not tested on animals.

humanity

Understanding and kindness towards other people.

Code of ethics

The ethical principles that govern decisions and behaviour at a company or organization.

principle

A moral rule or standard of good behaviour.

Misconception

An idea that is wrong because it has been based on a failure to understand a situation.

culture

The way of life, especially the general customs and beliefs, of a particular group of people at a particular time.

Business ethics

The moral principles, policies, and values that govern the way businesses and individuals engage in business activity.

Ethical dilemmas

A situation in which a person must choose between two or more actions that involve conflicting ethical principles (an ethical crossroads).

dignity

The state of being worthy of honor and respect.

Unethical practices

Conduct that is inappropriate because it goes against social standards.

Humane handling

The use of methods to handle and slaughter animals in a more compassionate manner to minimize suffering.

Malpractices

Careless, wrong, or illegal behaviour in a professional context.

Animal testing

The use of animals in experiments to develop or test products.

Sustainable business practices

Business practices that are economically viable, socially responsible, and environmentally friendly.

Boycott

To refuse to buy, use, or participate in something as a form of protest.

Corporate culture

An organization’s values, ethics, vision, behaviours, and work environment.

Organizational values

A set of guiding principles and fundamental beliefs that help teams work toward a common business goal.

Corporate image

The public image and perception of a business or brand.

Cross-cultural management

The study of how societal culture influences managers and management practice and the cultural orientations of managers and organization members.

Clan culture

A culture where the organization has a family-like atmosphere with mentoring, nurturing, teamwork, and togetherness.

Elite culture

The corporate culture that focuses on high-achieving talent and trailblazing achievements.

Equity

Fairness or justice in the way people are treated.

Adhocracy culture

A dynamic and entrepreneurial culture that values risk-taking and innovation.

Hierarchy culture

A culture where employees must adhere to established best practices and processes are controlled in a top-down fashion.

Market culture

A culture where employees are expected to adopt a competitive mindset and focus on strong individual performance to maximize profitability.

Horizontal corporate culture

A corporate culture approach that emphasizes collaborative, nonhierarchical structure.

Inclusion

The practice of including people who might otherwise be marginalized.

Initiative

A new plan or action; a proactive approach.

Ethnicities

Different ethnic groups or backgrounds.

Skepticism

Doubt that something is true or useful.

Retention

The continued use, existence, or possession of something or someone.