Chapter 4: Business Ethics and Social Responsibility

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6 Terms

1
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Business ethics

Rules based on moral principles about how businesses and employees ought to conduct themselves

2
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Code of ethics

A set of guidelines for maintaining ethics in the workplace

3
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Conflict of interest

A conflict between self-interest and professional obligation

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Ethics

Moral principles by which people conduct themselves personally, socially, or professionally

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Social Responsibility

The duty to do what is best for the good of society

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Sweatshop

A shop or factory in which workers are employed for long hours at low wages and under unhealthy conditions