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Unit 2
| Term | Definition |
|---|---|
| Business Ethics | - is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. |
| Corporate Social Responsibility | - Corporate citizenship refers to an organizations responsibility to create business value by caring for the well-being of all stakeholders including the environment |
| Sole Proprietor | - These firms are owned by one person, |
| Corporation | - Form of business ownership that is a legal entity on its own and puts stockholders/shareholders and the board of directors in control |
| Partnership | - Can be general or limited, but in either case the general partners are in control |
| Shareholder | - The shareholders elect a board of directors to oversee the major policies and decisions in a corporation. |
| Management | - Getting people to work together for the attainment of an organization's goals and objectives |
| Functions of Business | - The activities needed to operate a business can be divided into a number of functional areas: management, operations, marketing, accounting,and finance. |
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jgalvan1164
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