Chapter 21: Business ethics and social responsibilities. Flashcards
1
Q
Define Ethics
A
the moral rules that guide business decision making. It helps them decide what is right and what is wrong.
2
Q
What is code of ethics
A
written set of rules to ensure ethical behaviour
3
Q
Define social Responsibilty
A
the obligation of every business to respect the interests of all stakeholder groups
4
Q
Responsibilty to Workers
A
fair wage
5
Q
Responsibilty to customers
A
quality product
6
Q
Responsibilty to investors
A
honest financial info
7
Q
Responsibilty to suppliers
A
bills paid on time
8
Q
Responsibilty to government
A
pay proper tax
9
Q
Responsibilty to community
A
employ locals
10
Q
Responsibilty to society
A
safe durable gooods
