Business Ethics and Values Exam 2

brand

a type of product or service marketed by a particular company under a particular name

branding

the process of creating, differentiating, and maintaining a particular image and/or reputation for a company, product, or service

bribe

a payment in some form (cash or noncash) for an act that runs counter to the legal and ethical culture of the work environment

duty of confidentiality

a common-law rule giving an employee responsibility to protect the secrecy of the employer's proprietary information, such as trade secrets, material covered by patents and copyrights, employee records and salary information, and customer data

duty of loyalty

a common-law rule that requires an employee to refrain from acting in a manner contrary to the employer's interest

Foreign Corrupt Practices Act

an amendment to the Securities and Exchange Act of 1934; its main purpose is to make it illegal for companies and their managers to influence or bribe foreign officials with monetary payments or rewards of any kind in an attempt to get or keep business opportunities outside the United States

insider trading

the buying or selling of stocks, bonds, or other investments based on nonpublic information that is likely to favorably affect the price of the security being traded

intellectual property

the manifestation of original ideas, protected by legal means such as patent, copyright, or trademark

internal marketing

the process of getting employees to believe in the company's product and even to buy it

non-compete agreement

a contract clause ensuring that employees will not compete with the company during or after employment there

nondisclosure agreement

an agreement to prevent the theft of trade secrets, most of which are protected only by a duty of secrecy and not by federal intellectual property law

nonsolicitation clause

an agreement that protects a business from an employee who leaves for another job and then attempts to lure customers or former colleagues away

pay secrecy

a policy of some companies to prevent employees from discussing their salary with other workers

qui tam provision

the section of the False Claims Act of 1863 that allows private persons to file lawsuits for violations of the act on behalf of the government as well as for themselves and so receive part of any penalty imposed

trade secret

a company's technical or design information, advertising and marketing plans, and research and development data that would be useful to competitors

whistleblowing

the act of reporting an employer to a governmental entity for violating the law

work style

the way and order in which we are most comfortable accomplishing our tasks at work

workplace personality

the manner in which we think and act on the job

animal rights

the entitlement of nonhuman animals to ethical treatment

diversity dividend

the financial benefit of improved performance resulting from a diverse workforce

inclusion

the engagement of all employees in the corporate culture

income inequality

the unequal distribution of income among the participants of an economy

reasonable accommodation

a change or adjustment to a job or other aspect of the work environment that permits an employee with a disability or other need to perform that job

undue hardship

a significant difficulty or expense imposed on an employer in making an accommodation for an employee with a disability

advertising

commercial messages urging the purchase of new or improved products or services that reach us in every medium: print, online, digital, television, radio, and outdoor

Affordable Care Act (ACA)

the Patient Protection and Affordable Care Act of 2010, often known as the Affordable Care Act or simply 'Obamacare,' a comprehensive federal health care management system

claim

a request to an insurance carrier for monetary compensation for a loss sustained by a customer

copayment

a partial charge for covered care negotiated by the provider and the employer and paid by the employee

deductible

the annual portion of health care costs the patient must assume before full insurance coverage applies

entrepreneur

a business leader willing to take on the risk of starting a new company and offering a product or service in the hope of a profit

entrepreneurial culture

the combination of personality and management style with which entrepreneurs shape the initial business practices and ethical environment of their firm

multipayer health care system

a means of providing health care in which the patient and others such as an employer and a private health insurance company all pay for the patient's care

premiums

the fees customers pay for different forms of coverage

psychological appeal

advertising intended to bolster consumers' self-esteem if certain products or services are purchased

redlining

a discriminatory (and usually illegal) insurance practice of denying certain coverages in specific neighborhoods or selling them there at a higher price

single-payer health care system

a means of providing health care in which state or national tax revenues would pay for citizens' medical care, with the government being the sole payer

subliminal advertising

appeals including words and images that reach us at a level below our consciousness

universal health care system

a means of providing health care to all, funded through taxes and overseen by the central or federal government

wellness programs

employer initiatives that stress healthy eating, exercise, weight management, smoking cessation, and other efforts, to sustain employees' health and reduce health care costs

access economy

a nontraditional business model in which consumers participate on both sides of a transaction, sometimes facilitated by a third party

artificial intelligence (AI)

the branch of science that uses computer algorithms to replicate human intelligent behavior by machines with minimal human intervention

flextime

a work schedule in which employees can select their own start and finish time

gig economy

an environment in which individuals and businesses contract with independent workers for the completion of short-term assignments, engagements, or projects, offering few or no benefits beyond compensation

job sharing

the use of two or more employees to perform the work of one full-time position

robotics

a field of research that includes computer science, mechanical and electronics engineering, and science process with the objective to produce robots, or related forms of automation, to replicate human tasks

telecommuting

working from a remote location (home or other space) by means of electronic connections