Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
BETH 200
BETH
| Term | Definition |
|---|---|
| Morals | What is Right or Wrong |
| Principles | Specific and pervasive boundaries for behavior that should not be violated |
| Values | Enduring beliefs and ideals that are socially enforced |
| Business Ethics | Comprises organizational principles, values, and norms that may originate from individuals, organizational statements, or from the legal system that primarily guide individual and group behavior in business |
| Ethics | Behavior or decisions made within a group’s values or morals |
| Federal Sentencing Guidelines for Organizations (FSGO) | Guidelines that codified into law incentives to reward organizations for taking action to prevent misconduct, such as developing effective internal legal and ethical compliance programs |
| Workplace integrity | The pressure to compromise organizational standards, observed misconduct, reporting of misconduct when observed, and retaliation against reports |
| Moral dilemma | Two or more morals in conflict with one another |
| Value dilemma | Two or more beliefs/ideals in conflict with one another |
| Corporate social responsibility | An organization’s obligation to maximize its positive impact on stakeholders and minimize its negative impact |
| Defense Industry Initiative on Business Ethics and Conduct | An organization developed to guide corporate support for ethical conduct |
| Sarbanes–Oxley Act | The most far-reaching change in organizational control and accounting regulations since the Securities and Exchange Act of 1934, which made securities fraud a criminal offense and stiffened penalties for corporate fraud |
| Dodd–Frank Wall Street Reform and Consumer Protection Act | Legislation that addressed some of the issues related to the financial crisis and recession and designed to make the financial services industry moreethical and responsible |
| nvironmental social governance (ESG) | A framework for evaluation of firm performance in the areas of environmental, social, and governance |
| Ethical culture | Acceptable behavior as defined by the company and industry |
| Global compact | Set of 10 principles concerning human rights, labor, the environment, and anti-corruption; the purpose is to create openness and alignment among business, government, society, labor, and the United Nations |
| Stakeholders | Those who have a “stake” or claim in some aspect of a company’s products, operations, markets, industry, and outcomes |
| Normative | Identifies ethical guidelines that dictate how firms should treat stakeholders |
| Descriptive | Focuses on the firm’s behavior; addresses how decisions are made for stakeholder relationships |
| Instrumental | Describes what happens if firms behave in a particular way |
| Primary stakeholders | Those whose continued association and resources are absolutely necessary for a firm’s survival |
| Secondary stakeholders | Stakeholders who do not typically engage directly in transactions with a company and are therefore not essential to its survival |
| Stakeholder interaction model | This approach recognizes other stakeholders and explicitly acknowledges that dialogue exists between a firm’s internal and external environments |
| Stakeholder orientation | The degree to which a firm understands and addresses stakeholder demands |
| four levels of social responsibility | Economic, Legals, Ethical & Philanthropic |
| Civil law | Defines the rights and duties of individuals and organizations (including businesses) |
| Criminal law | Not only prohibits specific actions—such as fraud, theft, or securities trading violations—but also imposes fines or imprisonment as punishment for breaking the law |
| Food and Drug Administration (FDA) | Federal agency of the United States Department of Health and Human Services that has stringent standards for approving drugs |
| itle VII of the Civil Rights Act | Prohibits discrimination in employment on the basis of race, sex, religion, color, or national origin |
| ccupational Safety and Health Administration (OSHA) | Enforces safe and healthy working conditions and makes regular surprise inspections to ensure businesses maintain safe working environments |
| Public company accounting oversight board (PCAOB) | Monitors accounting firms auditing public corporations and establishes standards and rules for auditors in accounting firms |
| Consumer Financial Protection Bureau (CFPB) | An independent agency within the Federal Reserve System that “regulate[s] the offering and provision of consumer financial products or services under the Federal consumer financial laws |
| Cause-related marketing | Ties an organization’s product(s) directly to a social concern through a marketing program |
| Strategic philanthropy | The synergistic and mutually beneficial use of an organization’s core competencies and resources to deal with key stakeholders so as to bring about organizational and societal benefits |
| Social Entrepreneurship | When an entrepreneur founds an organization with the purpose of creating social value |
| Technology | The application of scientific knowledge to efficiently solve real-world problems |
| Technology disruption | When innovation replaces existing systems and habits |
| nternet of Things (IoT) | The system of connected devices that provides the ability to send and receive information over the internet |
| Reach | The broad nature of technology as it moves through society |
| Predictive analytics | Using values or algorithms to provide data-backed decision options |
| Artificial intelligence (AI) | Technology that allows machines to learn and perform tasks that typically require human intelligence using algorithms and data |
| Algorithm | A set of rules providing instructions for problem solving |
| Big data | Large volumes of structured and unstructured data that need to be transmitted at very fast speeds |
| Blockchain | A decentralized recordkeeping technology that stores an immutable record of data “blocks” (or ledgers) over time |
| Roboethics (machine ethics) | Concerns the design and implementation of a code of conduct that must be programmed into the artificial intelligence of a robot |
| Cookies | Data from a website that is stored on a computer, which is then sent back to the website |
| Right to Be Forgotten | Law allows internet users in the European Union (EU) to have unwanted links removed from Google search results |
| General Data Protection Regulation (GDPR) | European Union (EU) law on data protection and data privacy |
| Children’s Online Privacy Protection Act (COPPA) | U.S. law that directs the Federal Trade Commission (FTC) to create and enforce regulations governing the online privacy of children |
| Copyright | Protects original works, both published and unpublished, including musical, literary, dramatic, and artistic works |
| Trademark | Protects words, phrases, symbols, and designs |
| Patent infringement | When an organization makes, uses, or sells a patented item without permission |
| Intellectual property | Intangible ideas and creative materials |
| Malware | Malicious software that can be used to steal intellectual property or sensitive customer data |
| Fraud | Intentional deceit for the purpose of financial or personal gain |
| Phishing | A cybercrime in which attackers disguise themselves as a legitimate business in order to obtain sensitive information |
| Digital divide | The varying levels of access to technology across social, geographical, and geopolitical groups |
| Chief privacy officer (CPO) | An executive responsible for developing and implementing policies and procedures related to privacy protection |
| Technology assessment | A procedure that helps organizations evaluate the possible effects that new processes, systems, and products will have on business operations and stakeholders |
| Bioethics | The ethical application and implication of ethics in medicine, healthcare, biotechnology, and the environment |
| Biotechnology | The exploitation of biological processes for industrial and other purposes, especially the genetic manipulation of microorganisms to produce antibiotics, hormones, and other items |
| 1920s | Provide a living wage—income sufficient for education, recreation, health, and retirement |
| 1930s | The New Deal (President Franklin D. Roosevelt)—blamed business as the cause for U.S. problems |
| 1950s | The Fair Deal (President Harry S. Truman)—defined such matters as environmental responsibility as ethical issues that businesses had to address |
| The 1960s | The Rise of Social Issues in Business - Antibusiness trend; decay of inner cities; growth of ecological problems - JKF consumer right of bills |
| The 1970s | Business ethics became a common expression |
| The 1980s | Business Ethics Reaches Maturity - stakeholder theory |
| The 1990s | Institutionalization of Business Ethics - President Bill Clinton: Continued to support self-regulation and free trade |
| The 2000s | Misconduct at Enron, WorldCom, Halliburton, and Arthur Andersen caused the government and the public to look for new ways to encourage ethical behavior |
| The 2010s | Dodd–Frank Wall Street Reform and Consumer Protection Act |
| The 2020s | ESG!!!! ***THINK*** (DELOITTE) |
Created by:
camrub12
Popular Business sets