MARKING PERIOD 2 TEST #2

CODE OF ETHICS

A code of ethics is like a rulebook for doing the right thing. It tells people how they should act, treat others, and make good choices even when no one is watching.

Example:

• Be honest

• Treat people with respect

• Don’t cheat or steal

• Take responsibility for your actions

CORPORATE GOVERNANCE

running a company the right way. It shows who is in charge, how decisions are made, and how the company is kept fair and honest.

Example: makes sure that

• Company leaders don’t abuse their power

• Money is used responsibly

• The company follows laws and acts fairly

• Owners (shareholders) and workers are treated properly

CORPORATE RESPONSIBILITY

When a company actually cares more about just money they care for the changes on society and the environment like making sure they do something good for the community. Being responsible for people and environment while being successful in there business

Example:

• Pay its workers fair wages

• Make sure factories are safe

• Use eco-friendly materials

• Donate part of its profits to help local communities

ETHICS

What’s right and what’s wrong making decisions that are honest, fair, and respectful to others how actions can affect other things

Example:

• Being honest instead of lying to customers

• Treating workers fairly

• Not cheating, stealing, or misleading people

PHILANTHROPY

When someone or a company donates money, time or resources to help improve people’s lives of others and those who’s especially are in need

Example:

• Donates money to schools or charities

• Gives food or supplies to people after a disaster

• Lets employees volunteer during work hours

SOCIAL ENTREPRENEURSHIP

When someone starts a business but instead of worry about just making money they also need to worry about people and there social problems, using there ideas to Make there business better and works better for people

Example:

• A company that sells eco-friendly water bottles and uses the money to clean rivers

• A business that makes affordable shoes for kids in poor communities

DEBT

Money a company borrows that must pay back usually with interest

Example:you borrow $50 from a friend to buy a video game. You promise to pay back $50 plus $5 extra.

EQUITY

owning part of the company. People who invest get a share of the profits,

example: You each put in $10. You all own a part of the lemonade stand. If the stand makes $50 profit, you split it according to how much you invested. But if it loses money, your investment is at risk.

OSHA

Occupational safety and health administration and it’s to make sure there’s a safe and healthy working conditions

PATENT

A patent is a legal right that gives an inventor control over their invention. It stops other people from making, using, or selling that invention without permission for a certain number of years

Example: “I made this new gadget or idea, and only I (or people I allow) can use it for a while.”