Business Ethics Flashcards
1
Q
Derived from the Greek word “Ethos” or “Ethikos” and from Latin word “Mores”
A
Ethics
2
Q
What is the meaning of the Greek words “Ethos” or “Ethikos”?
A
Character
3
Q
What is the meaning of the Latin word “Mores”?
A
Customs
4
Q
Practice of what’s morally and ethically right in the conduct of business
A
Business Ethics
5
Q
Where did Ethics start from?
A
Religion (follows PEACE and ORDER)
6
Q
Levels of Individual Ethics
A
- Individual (personal values - person)
- Corporate (regulations and standards of corporations - Book of Code of Ethics)
- Macro (involve individual institutions and the whole entity - Government Law)
7
Q
A book that manages the employees of a company
A
Book of Code of Ethics
8
Q
Forma of Business Organizations
A
- Sole Proprietorship
- Partnership
- Corporation (less prone to Corruption)
9
Q
What is the role of business in society?
A
To create WEALTH
10
Q
Helps establish credibility and hood image in organization?
A
Ethical Standards
11
Q
Core Principles in Business Ethics
A
- Honesty (true to words and actions)
- Integrity (consistency and dignity of actions)
- Keeping Promises (keep words and promises - walk the talk)
- Loyalty (staying true to company - putting company above yourself)
- Fairness (should act equally to others)
- Caring (giving people value)
- Obeying the Law (no one is above the law)
- Excellence (being ethical in submitting outputs)
- Morale (act ethically to boost company image)
- Accountable (take responsibility of decisions made)
