Chapter 2 Flashcards

1
Q

Ethics

A

a set of moral standards for judging whether something is right or wrong

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2
Q

Ethical Issue

A

a situation where someone must choose between a set of actions that may be ethical or unethical

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3
Q

Justice

A

fair/impartial distribution of the burdens & rewards that society has to offer

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4
Q

Utilitarianism

A

seeks the best consequence on an action taken by a person or organization

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5
Q

Deontology

A

people should meet their obligations & duties when analyzing an ethical dilemma

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6
Q

Code of Ethics

A

provides employees with the knowledge of what their expects in terms of responsibilities & behavior towards fellow employees, customers, & suppliers

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7
Q

Corporate Social Responsibility

A

a business’ concern for the welfare of society as a whole, obligations beyond those required by law/union contracts, voluntary

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8
Q

Profits

A

economic responsibility

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9
Q

Obey the Law

A

legal responsibility

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10
Q

Right, Just, & Fair

A

ethical responsibility

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11
Q

Good Corporate Citizen

A

philanthropic responsibility

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12
Q

Stakeholders

A

individuals/groups to whom businesses have a responsibility such as employees, consumers, the general public, and investors

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13
Q

Certified Benefit Corporations - B Corps

A

meet the highest standards of social & environmental performance, public transparency, & legal accountability & strive to use the power of business to solve social & environmental problems via an impact assessment that rates each company on a possible score of 200 points

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14
Q

Social Investing

A

investors limiting their investments to securities that coincide with their beliefs about ethical & social responsibility

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