16 Business Ethics

Question 1

Define business ethics

Answer 1

the moral principles that guide the way in which a business behaves.

Question 2

Define CSR

Answer 2

corporate social responsibility is a business assessing and taking responsibility for its effect on the environment and its impact on social welfare.

Question 3

Define audit

Answer 3

an official inspection of an organisations accounts typically by an independent body.

Question 4

Define bribe

Answer 4

money paid to persuade somebody to do what you want them to do.

Question 5

Define ethical codes of practice

Answer 5

statements about how employees in a business should behave in particular circumstances where they experience ethical issues.

Question 6

Define ethics

Answer 6

moral rules of behaviour that guide members of an organisation.

Question 7

Define national minimum wage

Answer 7

the minimum pay per hour for all workers.

Question 8

Define sanctions

Answer 8

restrictions used in trade with the aim of influencing a policy change in another country.

Question 9

Define data harvesting

Answer 9

process of extracting information from websites automatically.