business unit 1

Ethics

The basic principles that govern your behavior.

Ethical Principles

Standards that govern behavior; not dependent on circumstance.

Ethical Situation

An issue in which you must decide whether something is right or wrong

Integrity

Adhering to an established set of personal ethics and sound moral principles; acting with honesty in all situations

Trustworthy

Reliable; deserving the confidence of others

Accountability

The condition of having to answer for or be liable for your actions; accepting responsibility for your decisions

Transparency

The quality of being just as one seems; being open and truthful when communicating

Fairness

The ability to make judgments without favoritism or self-interest; engaging in fair competition and creating equal relationships

Respect

Regard or esteem; honoring the rights, freedoms, views, and property of others

Rule of Law

Complying with laws and regulations

Viability

The long-term value of your choices

Arrogance

An inflated sense of self-importance.

Consequence

The result of an action.

Dilemma

A difficult situation in which you are required to make a decision.

Ethical dilemma

An issue in which you must decide whether something is right or wrong; sometimes referred to as an ethical situation.

Intuition

Instinct; gut feeling.

Role model

A person whose behavior is imitated by others.