ABM 307 U1 | L1 Flashcards
Defined as the practice of what is morally and ethically right in the conduct of business in the workplace.
Business Ethics
What are the three levels of Business Ethics?
- Marco
- Corporate
- Individual
Levels of Business Ethics
Defined as the area that represents business operations bound by the virtues and norms of the different political and social systems of every society.
Macro
Levels of Business Ethics
Defines the crucial role of business and reinforces the role of the government in the delivery of benefits to its people in a morally upright and ethical manner.
Macro
Each of this concept has its own code of conduct which specifies how a business activty is carried out, guided by national and international ethical standards.
Society
Levels of Business Ethics
Represents how each company interprets the rules and standards of the industry.
Related to the implementation of corperate strategies.
Corporate
Levels of Business Ethics
Helps the company respond to changing pressure effectively.
Corporate
Levels of Business Ethics
The employee’s own moral principles that guide his or her life.
Individual
Levels of Business Ethics
When an employee enters the organization, he or she has to reconcile his or her own personal convictions on ethics with the organization’s moral and ethical standards.
Individual
What are the three forms of business organizations?
- Sole Proprietorship
- Partnership
- Corporation
Forms of Business Organizations
Managed by one person who handles all the activities on a day-to-day basis.
Sole Proprietorship
Forms of Business Organizations
A person that is morally responsible for the conduct of all business activities and also owns all assets and liabilities of the business.
Sole Proprietor
Forms of Business Organizations
Is a form of business organization where two or more members share in the business.
Partnership
Forms of Business Organizations
Are the people responsible for eachothers wealth and liabilities and thus create decisions together. The death of the other may disolve the partnership.
Partners
Forms of Business Organizations
Has a minimum of five members.
Incorporation/Corperation
Forms of Business Organizations
These are the members of a corpertaion
Shareholders
Forms of Business Organizations
Voted by the members of the coporation, these people oversee the major policies and decisions of the corpertaion.
Board of Directors
Forms of Business Organizations
The people who oversee the major policies and decisions of the corpertaion.
Board of Directors
What is the main purpose of a business?
Generate Wealth
What is the Role of Business in Society to the people?
They are responisble for meeting the needs of society in form of taxes, which are spent for paying national debts and for building needed infrasturctures.
What is the Role of Business in Society to its stake holders?
They are responisble for the proper share of profit that these people are entitled to.
What is the Role of Business in Society to the workers?
They are responisble for maintaining a conductibe and ideal place of work where employees spend most of there waking hours. save and peaceful environment where their business operates.
Defined as the “official prohibition of restriction of any type of expression belived to threaten the political, social, or moral order.
Censorship
