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Chapter 3 Vocabulary

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Question
Answer
Ethics   rules of behavior based on group's ideas about what is right and wrong  
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integrity   the honesty of a person's actions  
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morals   are an individual's ideas of what is right and wrong  
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code of ethics   a document that dictates how business should be conducted  
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code of conduct   handbook that outlines expectations of employee behavior  
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Confidentiality   means that specific information about a company or its employees is never shared, except with those who have clearance to receive it  
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Proprietary information   any work created by company employees on the job that is owned by that company  
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Trade secret   confidential information a company needs to keep private and protect from theft  
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insider trading   when an employee uses private company proprietary information to purchase company stock or other securities for personal gain  
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False advertising   overstating the features and benefits of products or making false claims about them  
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Lying   making an untrue statement  
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Social responsibility   behaving with sensitivity to social, environmental, and economic issues  
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Corporate social responsibility   all actions taken by a business to promote social good  
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Corporate culture   describes how the owners and employees of a company think, feel, and act as a business  
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Philanthropy   promoting the welfare of others  
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