Chapter 4: Business Ethics and Social Responsibility

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15 Terms

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Ethics
________ involve a system of moral principles that govern the appropriate conduct for a person or group.
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Unethical business practices
________ include lying, offering merchandise known to be substandard, or treating customers or employees unfairly.
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business decisions
When making ________, employees have an ethical obligation to act in the best interest of the company.
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Customers
________ are a businesss first responsibility.
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Social responsibility
________ is the duty to do what is best for the good of society.
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Drug Administration
The Food and ________ (FDA) is a federal government agency that protects consumers from dangerous or falsely advertised products.
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unhealthy conditions
A sweatshop is a shop or factory in which workers are employed for long hours at low wages and under ________.
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Businesses
________ have responsibilities not only to customers and employees but also to society.
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Code of ethics
A(n) ________ can cover issues such as employee behavior and environmental safety.
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Business ethics
________ are rules based on moral principles about how businesses and employees ought to conduct themselves.
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Sarbanes Oxley Act
The ________ mandates truthful reporting and makes the CEO more accountable for the actions of the financial managers of a firm.
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Ethics
________ are moral principles by which people conduct themselves personally, socially, or professionally.
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Businesses
________ should offer a good, safe product or service at a reasonable price.
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code of ethics
A(n) ________ is a set of guidelines for maintaining ethics in the workplace.
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Businesses
________ have a social responsibility to provide employees with safe working conditions, equal treatment, and fair pay.