Unit 2. Business Ethics

red flag

A warning sign indicating a possible problem

job hopping

Frequently changing jobs

stakeholder

A person or group with an interest in a company

shareholder

A person who owns shares in a company

to estimate

To roughly calculate

Corporate Social Responsibility (CSR)

A company's duty to act ethically and contribute to society

ego consumption

Buying products to boost one's self-image

tiny drop in the ocean

A very small and insignificant amount

to scale

To expand in size or scope

environmentally friendly

Not harmful to the environment

to donate

To give money or goods for a cause

charity

Organization helping those in need

to fund

To provide money for something

altruistic

Showing selfless concern for others

stockbroker

Person who buys and sells stocks for clients

revenue

Income generated from business activities

climate change

Long-term global environmental change

default

A preset option

legally binding

Enforceable by law

to raise funds

To collect money for something

to treble

To triple in amount

capitalism

Economic system based on private ownership

skillset

A person's range of skills

deforestation

Large-scale removal of forests

to enroll

To officially register

to launch

To officially start something

sustainability agenda

Plan focused on long-term environmental and social goals

sustainability

Ability to maintain without harming future generations

Sustainability development goals (SDG)

Collection of 17 global objectives, serving as a universal call to action, designed to eradicate poverty, reduce inequality, protect the planet, and ensure global peace and prosperity by 2030

environment

Natural world surrounding us

strategy

Plan to achieve long-term goals

decision-making

Process of making choices

harmful

Causing damage

goal-setting

Process of defining objectives

ecosystem

System of interacting organisms and environment

diagram

Visual representation of information

adopt

To start using

outcome

Result of an action

to cluster

To group together

inequality

Lack of fairness or equality

commitment

Strong dedication to something

development

Process of growth or improvement

requirement

Something necessary

agenda

List of planned actions

value chain

Activities involved in producing a product

to strive

To make great effort

impact

Strong eAect

to disclose

To reveal information

to contribute

To give or add to something

critical

Extremely important

consumption

Use of goods and services

circular business

Business model focused on reuse and recycling

resilient societies

Communities able to recover from challenges

to close the gap

To reduce inequality

regeneration

Renewal or restoration

environmental

Related to the environment

resource efficiency

Using resources with minimal waste

sourcing

Obtaining materials

logistics

Management of transportation and supply

operations

Daily business activities

corporate tax

Tax on company profits

to divvy up

To divide into parts

nitty-gritty

Essential details

race to the bottom

moving to where it’s cheapest

to make a mint

To earn a lot of money

reform

Change made to improve something

to underplay

To minimize importance

loophole

Gap in a law allowing avoidance

to halt

To stop

to slash

To reduce drastically

to impose

To force officially

complex

Complicated

to seek

To try to obtain

instrumental

Crucial to achieving something

to press ahead

To continue despite difficulties

to prompt

To cause something to happen

levies

Official taxes or charges

skirmish

Minor conflict

fraught

Filled with tension

to (take) adopt a new approach

To start using a different method