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WHS PoBF 5.03C

LAP EC 106

TermDefinition
Accountability The condition of having to answer for or be liable for your actions; accepting responsibility for your decisions
Altruistic Concerned with others’ welfare
Americans with Disabilities Act of 1990 A law that protects workers with physical and/or mental disabilities from discrimination
Bankruptcy A state of debt that cannot be resolved
Business ethics The basic principles that govern a business’s actions
Code of ethics A set of rules for governing behavior
Consequence The result of an action
Customer loyalty The customer's preference for a business; usually expressed in regular purchases from the business
Employee turnover The rate at which a business gains and loses employees
Ethical principles Standards that govern behavior; not dependent on circumstance
Ethics The basic principles that govern your behavior
Fraudulent Deceitful; dishonest
Illegal Prohibited by law
Integrity Acting with honesty in all situations
Investors Those who invest their funds in a business; may be owners or stockholders
Legal Acceptable under the law
Obligation Duty; requirement
Philanthropic Voluntarily generous
Productivity The amount and the value of goods and services produced (outputs) from set amounts of resources (inputs)
Profitability The degree or level of profit of a business or a product
Respect Honoring the rights, freedoms, views, and property of others
Responsibility Fulfilling one’s obligations in a dependable, reliable manner
Risk The possibility of loss or failure
Sarbanes-Oxley Act A U.S. regulation mandating that public businesses comply with specific accounting requirements
Social responsibility The duty of business to contribute to the well-being of society
Stakeholders People or businesses who are affected by a company’s success or failure
Transparency The quality of being just as one seems; being open and truthful when communicating
Trust The ability to rely on the character, integrity, or truthfulness of something or someone
Unethical Lacking morals; wrong
Created by: VNelsonWHS
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