Chapter 6 Flashcards
Ethics
set of standards that govern the conduct of a person
Legal behavior
follows the dictates of laws, which are written down and interpreted by the courts.
Bribery
the act of giving money, goods, or other forms of compensation to a recipient in exchange for an alteration of their behavior that the recipient would otherwise not alter.
kickback
a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered.
Conflict of interest
an individual or organization is involved in multiple interests that are at odds with one another.
Self-dealing
an official who controls an organization causes it to enter into a transaction with the official, that benefits the official, the official is on both sides of the “deal”.
Outside employment
the interests of one job contradict another.
Family interests
a spouse, child, or other close relative is employed or where goods or services are purchased from such a relative or a firm controlled by a relative.
Gifts from friends
who also do business with the person receiving the gifts
whistleblower
a person who exposes any kind of information or activity that is deemed illegal, unethical
Integrity
adherence to principles, doing the right thing when no one is looking
What are the three guidelines for keeping business gifting aboveboard?
- Content
- Context
- Culture
Corporate social responsibility (CSR)
the ethical role of the corporation in society.
What are two types of pressure on businesses
- Increased Pressure from Consumers
- Supply-Chain Pressure
social or environmental greenwashing
taking advantage of consumers’ desire to do good
