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Chapter 2
| Question | Answer |
|---|---|
| Ethics | The study of right and wrong and of morality of the choices individuals make |
| Business ethics | The application of moral standards to business situations |
| Code of ethics | A written guide to acceptable and ethical behavior as defined by an organization |
| Whistle-blowing | Informing the press or government officials about unethical practices within one’s organization |
| Social Responsibility | The recognition that business activities have an impact on society and the consideration of that impact in business decision making |
| Caveat Emptor | A Latin phrase meaning “let the buyer beware” |
| Economic model of Social Responsibility | The view that society will benefit most when business is left alone to produce and market profitable products that society needs |
| Socioeconomic model of Social Responsibility | The concept that business should emphasize not only profits but also the impact of its decisions on society |
| Minority | A racial, religious, political, national, or other group regarded as different from the larger group of which it is a part and that is often singled out for unfavorable treatment |
| Affirmative Action Programs | Plans designed to increase the number of minority employees at all levels within an organization |
| Equal Employment Opportunity Commission (EEOC) | The federal agency empowered to investigate complaints of employment discrimination and to sue firms that practice it |
| Hard-core unemployed | Workers with little education or vocational training and a long history of unemployment |
| National Alliance of Business (NAB) | A joint business-government program to train the hard-core unemployed |
| Pollution | The contamination of water, air, or land through the actions of people in an industrialized society |
| Social audit | A comprehensive report of what the organization has done and is doing with regard to social issues that affect it |
| Sarbanes-Oxley Act of 2002 | Provides sweeping new legal protection for employees who report corporate misconduct |
| Consumerism | All activities undertaken to protect the rights of consumers |
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