Chapter 2 Vocab Flashcards
A general sense of honesty and reliability that is expressed in a strong commitment to doing the right thing, regardless of the circumstances
Integrity
Individuals or groups who either can affect or are affected by the performance of the company
Stakeholders
A company’s ethical obligations to the community
Social Responsibilities
Original intellectual creations, including inventions, literary creations, and works of art, that are protected by patents or copyrights
Intellectual Property
The belief that the ethical standards of one’s own country can be applied universally
Ethical Imperalism
The belief that ethical standards are subject to local interpretation
Ethical relativism
Beliefs that provide a foundation for ethical behavior in a firm
Underlying Values
Official standards of employee behavior formulated by a business owner
Code of Ethics
A profitable company that responds to customers’ needs while showing reasonable concern for the environment
Sustainable Small Business
The effort to protect and preserve the environment
Environmentalism