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Business Ess. Chpt 2
| Term | Definition |
|---|---|
| ethics | beliefs about what is right and wrong or good and bad in actions that affect others |
| ethical behavior | behavior conforming to generally accepted social norms concerning beneficial and harmful actions |
| unethical behavior | behavior that doesn't conform generally accepted social norms concerning beneficial and harmful actions |
| business ethics | ethical or unethical behaviors by employees in the context of their jobs |
| managerial ethics | standards of behavior that guide individual managers in their work |
| social responsibility | the attempt of a business to balance its commitments to groups and individuals in its environment, including customers, others businesses, employees, investors, and local communities |
| organizational stake holders | those groups, individuals, and organizations that are directly affected by the practices of an organization and who therefore have a stake in its perfomance |
| consumerism | form of social activism dedicated to protecting the rights of consumers in their dealings with businesses |
| collusion | illegal agreement between two or more companies to commit a wrongful act |
| whistle-blower | employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them |
| insider trading | illegal practice of using special knowledge about a firm for profit or gain |
| obstructionist stance | approach to social responsibility that involves doing as little as possible and involve attempts to deny or cover up violations |
| defensive stance | approach to social responsibility by which a company meets only minimum legal requirements in its commitments to groups and individuals in its social environment |
| accommodative stance | approach to social responsibility by which a company, if specifically asked to do so, exceeds legal minimums in its commitments to groups and individuals in its social environment |
| proactive stance | approach to social responsibility by which a company seeks opportunities to contribute to the well being of groups and individuals in its social environment |
| social audit | systematic analysis of a firm's success in using funds earmarked for meeting its social responsibility goals |
Created by:
shelaynecarter
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