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Business Law > Chapter 2 > Flashcards

Chapter 2 Flashcards

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1
Q

Ethics

A

Duty
Outcome
Utilitarian

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2
Q

Due Process

A

Fair Hearing

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3
Q

Duty Based Ethics

A

Regardless of consequences

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4
Q

Outcome Based Ethics

A

based on consequences

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5
Q

Utilitarian

A

greatest good for greatest number of people

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6
Q

Punitive Damages

A

punishing exxon

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7
Q

Social Responsibility

A

Act ethically and be accountable to stakeholders for their actions

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8
Q

Stakeholders

A

Anyone who has a stake in the corporation

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9
Q

Foreign Corrput bribery act

A
  • “Grease” to miniterial (not big decision makers) employees is NOT illegal
  • Prohibition of bribery of high ranking foreign officials
  • BUT bribery with military then you’re in trouble!
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10
Q

Who can be a stake holder?

A

ALL OF THE ABOVE YO!

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Business Law (15 decks)

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