Chapter 4: Business Ethics and Social Responsibility

Ethics

Ethics

________ involve a system of moral principles that govern the appropriate conduct for a person or group.

Unethical business practices

________ include lying, offering merchandise known to be substandard, or treating customers or employees unfairly.

business decisions

When making ________, employees have an ethical obligation to act in the best interest of the company.

Customers

________ are a businesss first responsibility.

Social responsibility

________ is the duty to do what is best for the good of society.

Drug Administration

The Food and ________ (FDA) is a federal government agency that protects consumers from dangerous or falsely advertised products.

unhealthy conditions

A sweatshop is a shop or factory in which workers are employed for long hours at low wages and under ________.

Businesses

________ have responsibilities not only to customers and employees but also to society.

Code of ethics

A(n) ________ can cover issues such as employee behavior and environmental safety.

Business ethics

________ are rules based on moral principles about how businesses and employees ought to conduct themselves.

Sarbanes Oxley Act

The ________ mandates truthful reporting and makes the CEO more accountable for the actions of the financial managers of a firm.

Ethics

________ are moral principles by which people conduct themselves personally, socially, or professionally.

Businesses

________ should offer a good, safe product or service at a reasonable price.

code of ethics

A(n) ________ is a set of guidelines for maintaining ethics in the workplace.

Businesses

________ have a social responsibility to provide employees with safe working conditions, equal treatment, and fair pay.