Glossary - Business Ethics

Capitalism

an economic system based on the private ownership of how things are made and sold, in which businesses completely freely with each other to make profits

Shareholder

a person who has invented money in a business in return for a share of the profits

Corporate social responsibility

a sense that businesses have wider responsibilities than simply to their shareholders, including the communities they live and work in and to the environment

Whistle-blowing

when an employee discloses wrongdoing to the employer or the public

Globalisation

the integration of economies, industries, markets, cultures and policymaking around the world

Stakeholder

a person who is affected by or involved in some form of relationship with a buisness

Consumerism

a set of social beliefs that put a high value on acquiring material things