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KEY TERMS
MARKETING
Term | Definition |
---|---|
PHILANTHROPY | making charitable donations to improve the welfare of society. |
SOCIAL RESPONSIBILITY | the principal that companies should contribute to the welfare of society and not be solely devoted to maximizing profits. |
ENVIRONMENTAL PROTECTION AGENCY (EPA) | an independent federal agency established to coordinate programs and enforce regulations aimed at reducing pollution and protecting the environment. |
ETHICS | guidelines for human behavior. |
ETHICAL BEHAVIOR | the conduct that adheres to this moral code. |
BUSINESS ETHICS | the study of behavior and morals in a business situation. |
CODE OF ETHICS | a group of ethical behavior guidelines that govern the day-to-day activities of a profession or organization. |
CONFLICT AND INTEREST | a clash between a person's private interests and his/her responsibilities in a position of trust. |
BRIBES | payments made to secure special services for a business or special consideration for its products. |