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Ent 1 Obj 104
Business Ethics
| Term | Definition |
|---|---|
| Accountability | the condition of having to answer for or be liable for your actions; accepting responsibility for your decisions |
| Altruistic | concerned with other’s welfare; charitable |
| 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 | adhering to an established set of personal ethics and sound moral principles; 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 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 | regard or esteem; 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 businesses 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 honest when communicating |
| Trust | the ability to rely on the character, integrity, or truthfulness of something or someone |
| Unethical | lacking morals; wrong |
| Viability | the long-term value of choices and decisions to relevant stakeholders |
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