Business Chapter 16 Flashcards
Audit
An official inspection of an organisations accounts, typically by an independent body
Bribe
Money paid to persuade somebody to do what you want them to
Business ethics
The morel principles that guide the way in which a business behaves
Corporate Social Responsibility (CSR)
A business assessing and taking responsibility for its effects on the environment and its impact on social welfare.it involves the idea that businesses are responsible for more than their shareholders
Data harvesting
The process of extracting information from websites automatically and using it for other purposes
Emerging economy
Used to describe a developing country in which investment would be expected to achieve higher returns but would be accompanied by higher risk
Ethical codes of practice
Statements about now employees in a business should behave imperticalar circumstances where they experience ethical issues
Ethical decision
A decision which considers what is morally right or wrong
Ethics
Moral rules or principles of behaviour that should guide members of a profession or organisation and make them deal honestly and fairly with each other and with their stakeholders
Living wage
On hourly rate of pay based on the basic cost of living, set independently of government and updated annually
Millennials
People reaching adulthood in the early 21st century (there are no specitic dates)
National minimum wage
The minimum pay per hour on workers are entitled to by law
Sanctions (or trade embargoes)
Sanctions are restrictions that are used in trade on investment with the aim of influencing a policy change in another country. Trade embargoes can be included insanctions where commercial shipments are banned in and out of a particular country, or where an embargo is placed on a particular product
Sustainable and ethical investment
Where investments are made in companies with a strong ethical stance
