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Business Ethics

Terms to remember Ethics

Definition
Ethics Moral decisions made in everyday life and in business principles.
Stakeholders Individuals who have a stake or interest in the decisions of a certain company.
Transparency Being open and clear in every business aspect.
Code of Ethics Formally written rules to keep businesses as ethical as possible.
Corporate citizenship Responsibility and obligation for companies to accommodate individuals and the community.
Social Responsibility An obligation for a company to balance its commitments between profit and stakeholders.
Golden Rule Do unto others as the would do unto you.
Principle of Rights Ethical actions that protect human rights.
Utilitarianism Doing the most good for the most amount of people.
Sustainability Using environmental and social concerns to choose best ethical decisions.
Ethical Dilemma Situation concerning right and wrongs when values are being tested.
Individualism Approach Acts are moral when they concern an individuals best interest.
Value System personal principles that make up a code of behavior.
Virtue Ethics Living your life in the best and most Ethical way possible. IE: What kind of person do i want to be today?
Applied Ethics How you can put ethical situations into practice.
Created by: brodyazbill
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