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BBI2O1- 1.3 Vocab
Introduction to Business: Unit 1, Chapter 3 Business Ethics
| Term | Definition |
|---|---|
| ETHICS | The principles of morality and proper conduct that people or businesses use to guide their behaviour. |
| VALUES | A personal or corporate belief about what is important. |
| MORALS | A rule used to decide what is good or bad. |
| FAIR TRADE | The practice of helping producers in developing countries bypass middlemen so they can sell their products for a fair profit. |
| CODE OF ETHICS | A document that describes specifically how a company's employees should respond to different situations. |
| DILEMMA | A situation where there is a difficult choice between two or more options. |
| ETHICAL DILEMMA | A moral problem with potential right or wrong answers. Occurs in a business when approached with a decision to make that weighs values and morals against profitability and competitiveness. |
| WHISTLE-BLOWING | The decision of an employee to inform officials or the public about a legal or ethical violation. |
| FRAUD | The crime of lying or pretending. |
| ACCOUNTING SCANDAL | A publicly exposed crime involving accountants or senior executives who alter accounting records for personal benefit. |
| FORENSIC ACCOUNTANT | An accountant who investigates legal and financial documents, looking for evidence of tampering. |
| EMBEZZLEMENT | A type of accounting fraud in which an accountant of senior executive invents phony accounts and redirects company money into them for personal gain. |
| ASSETS | Items of value that a business owns. |
| LIABILITIES | Debts that a business owes. |
| AUDITORS | Outside accountants who check the financial records of a company. |
| INSIDER TRADING | Illegal buying or selling of shares of a company based on confidential information that isn't available to the public. |
| PROVINCIAL SECURITIES COMMISSIONS | A provincial governmental agency responsible for regualting the securities industry and prosecuting crimes such as insider trading. |
| CORPORATE SOCIAL RESPONSIBILITY (C.S.R) | Conducting business in a way that is in line with society's values. |
| FORGERY | A form of fraud that could involve passing bad cheques by forging someone else's name. |
| DUTY TO REPORT | An obligation to disclose all important information. |
| GENDER DISCRIMINATION | An employee being treated differently based on gender. |
| GLASS CEILING | Invisible barriers to senior leadership positions. |
| HARASSMENT | The behaviours that are found to be threatening or disturbing and not acceptable in society. |
| DUTY TO ACCOMODATE | An employer's obligation to take appropriate steps to eliminate discrimination against employees. |
| GRASS ROOTS MOVEMENT | A movement that develops from the bottom-up. |
| E.P.A (Environmental Protection Act) | A law passed in 1999 to help prevent future environmental disasters administered by Environment Canada. |
| KYOTO PROTOCOL | An international agreement on targets to combat global warming by 2012. |
Created by:
ShirleyT
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