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Ethical Issues D072
Section 1
| Term | Definition |
|---|---|
| stakeholders | individuals, groups, or organizations that have an interest or concern in a particular project, decision, or outcome |
| business laws | a set of rules and regulations that govern the rights, relations, and conduct of individuals and businesses engaged in commerce and trade |
| conflict of interest | when an individual's personal interests interfere with their professional responsibilities or decisions, potentially leading to biased or unethical outcome |
| Legal | An act that is allowed or is in conformity with the law of the land |
| Legal-Ethical | Actions that are both permitted by law and align with ethical standards. |
| Legal-Unethical | Actions that are allowed by law but violate ethical standards. |
| Illegal-Ethical | Actions that are considered ethical but violate laws, often done for a higher moral purpose. |
| Personal ethics | refers to the principles that guide a person's behavior in everyday life. They help determine what is right, wrong, just, positive, and negative. |
| Organizational ethics | a branch of applied ethics that focuses on rules, principles, and standards in the context of business activities |
| corporate social responsibility (CSR) | a business approach where companies integrate social, environmental, and ethical considerations into their operations and decision-making processes, aiming to contribute positively to society while maintaining profitability |
| social entrepreneurship | the use of innovative business methods to address social or environmental issues while generating profit |
| code of conduct | a formal document that outlines the moral principles and standards of behavior that individuals within an organization or profession are expected to follow, guiding their decision-making and ensuring integrity, fairness, and accountability |
| transparency | the practice of openly and honestly sharing information and decisions with stakeholders to build trust, ensure accountability, and support ethical practices. |
| accountability | taking responsibility for one's actions and decisions, ensuring they align with ethical standards and addressing their outcomes |
| greenwashing | the deceptive practice where a company falsely promotes its products, policies, or initiatives as environmentally friendly to mislead consumers and improve its public image without making substantial sustainability efforts |
| whistleblower | an individual who reports or exposes unethical, illegal, or harmful activities within an organization, often risking their own job security or personal safety to bring such issues to light |
| Values | the core beliefs that guide decisions and behavior, helping individuals distinguish right from wrong |
| Morals | personal feelings of right and wrong |
| Ethics | the rules of right and wrong in society |
Created by:
nilsa.elias
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