Business Essentials Unit 1 Vocab Flashcards
Ethics
The basic principles that govern your behavior.
Ethical Principles
Standards that govern our behavior; not dependent on circumstance.
Ethical Situation
An issue in which you must decide whether something is right or wrong.
Integrity
Adhering to an established set of personal ethics and sound moral principles; acting with honesty in all situations.
Trustworthy
Reliable; deserving the confidence of others.
Accountability
The condition of having to answer for or be liable for your actions; accepting responsibility for your decisions.
Transparency
The quality of being just as one seems; being open and truthful when communicating.
Fairness
The ability to make judgements without favoritism or self-interest; engaging in fair competition and creating equal relationships.
Respect
Regard or esteem; honoring the rights, freedom, views, and property of others.
Rule of Law
Complying with laws and regulations.
Viability
The long-term value of your choices.
Arrogance
An inflated sense of self-importance.
Consequence
The result of an action.
Dilemma
A difficult situation in which you are required to make a decision.
Ethical Dilemma
An issue in which you must decide whether something is right or wrong; sometimes referred to as an ethical situation.
