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Business Ethics EST1
Terms used in EST1 course
Term | Definition |
---|---|
business ethics | Comprises principles and standards that guide behavior in the world of business. |
Consumers' Bill of Rights | 1962 JFK - The right to safety, the right to be informed, the right to choose and the right to be heard |
social responsibility | An organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact. |
Defense Industry Initiative on Business Ethics and Conduct | 1986 - 18 defense contractors drafted principles for guiding business ethics and conduct. |
Federal Sentencing Guidelines for Organizations | 1991 - FSGO law incentives to reward organizations for taking action to prevent misconduct. |
Sarbanes-Oxley Act ethical culture | 2002 - law made securities fraud a criminal offense; created accounting oversight board requiring corporations to establish codes of ethics for financial reporting. |