Ethical Issues In Business Flashcards
practice of making false or misleading claims about the environmental benefits of a product, service, or company. It involves presenting an image of environmental responsibility without taking substantial actions to back it up
Greenwashing
are workplaces, often in manufacturing sector where workers are subjected to poor working conditions, low wages and long hours
SWEATSHOPS
refers to the act of reporting illegal, unethical and fraudulent activities within an organization to authorities or the public
WHISTLEBLOWING
are individuals who expose wrongdoings in the interest of promoting transparency and accountability
Whistleblowers
refers to the practice of creating fake grassroots campaigns or online communities to promote a particular product, service or agenda. It involves artificially generating support or positive reviews to deceive consumers
ASTROTURFING
occurs when businesses take advantage of emergency situations or high demand to excessively raise prices on essential goods or services
PRICE GOUGING
refers to the unauthorized access, acquisition, or disclosure of sensitive or personal information. Ethical concerns arise when companies fail to protect customer data, leading to potential harm or misuse of personal information
DATA BREACH
refers to the ethical obligation of businesses to contribute to the well-being of the society. It involves considering the impact of business decisions on stakeholders and the wider community, and actively working towards social and environmental goals
SOCIAL RESPONSIBILITY
ensuring that marketing communications are accurate, truthful and not misleading. Ethical concerns arise when companies make false claims, exaggerate product benefits, or use deceptive tactics to manipulate consumer perceptions.
TRUTH IN ADVERTISING
-when companies engage in unethical tactics, such as spreading false information about competitors or engaging in predatory pricing strategies.
UNFAIR COMPETITION
-Ensuring transparency and authenticity in influencer marketing by clearly disclosing sponsored content and maintaining honesty about product endorsements.
-Ethical concerns arise when influencers promote products without disclosing their relationship with the brand or when they make false claims about product effectiveness.
INFLUENCER MARKETING
Ensuring fairness and transparency in pricing practices. Ethical concerns arise when companies engage in price gouging, engage in deceptive pricing tactics, or mislead consumers about pricing details or discounts.
PRICING ETHICS
Respecting ethical guidelines and norms when engaging in social media marketing. This includes avoiding the use of fake accounts, manipulating social media algorithms, or engaging in cyber bullying or harrassment
SOCIAL MEDIA ETHICS
Maintaining ethical practices in customer relationship management, such as respecting customer consent, handling customer complaints and feedback ethically, and ensuring the responsible use of customer data
CUSTOMER RELATIONSHIP MANAGEMENT
Refers to the ethical issue of businesses using social pressure or the desire to conform to influence consumer behavior. This can involve creating a sense of urgency or popularity around a product or service to persuade consumers to make purchasing decisions based on the belief that “everyone else is doing it”
BANDWAGON EFFECT
The act of stealing or unauthorized taking of goods, supplies, or resources from the workplace. This ethical issue can occur when employees engage in theft, misuse company property, or take advantage of their position for personal gain. It undermines trust, impacts productivity, and can lead to financial losses for the business.
PILFERAGE
An illegal and unethical practice where competitors collude to set prices at an agreed-upon level, eliminating competition and artificially inflating prices
PRICE FIXING
This behavior harms consumers by limiting choices and driving up prices, while benefiting the colluding businesses. Price fixing is prohibited by antitrust laws in many countries
PRICE FIXING
Involve offering, giving, receiving or soliciting something of value to influence the actions or decisions of individuals in positions of power or authority
BRIBERY AND CORRUPTION
This unethical behavior undermines fair competition, distorts business practices, and erodes trust in institutions. It is illegal in most jurisdictions and can lead to severe legal and reputational consequences.
BRIBERY AND CORRUPTION
Occurs when individuals or businesses treat people unfairly based on characteristics such as race, gender, age, religion, or disability
-This ethical issue can manifest in various forms, including unequal hiring practices, par disparities or creating hostile work environments
DISCRIMINATION
-Ensuring that employees are fairly compensated for their work, including providing competitive wages, benefits, and opportunities for growth
-Ethical concerns arise when employers exploit employees by paying below market wages or engaging in wage discrimination
FAIR COMPENSATION
Providing a safe and healthy work environment including proper safety protocols, training, and equipment. Ethical concerns arise when employers neglect safety measures, leading to employee injuries or health hazards
WORKPLACE SAFETY
Treating employees with respect, dignity, and fairness, regardless of their position or background. Ethical concerns arise when employers engage in discriminatory practices, harassment, or unfair treatment based on factors such as race, gender, or religion
RESPECT AND DIGNITY
Promoting work-life balance and respecting employees’ personal lives and well-being. Ethical concerns arise when employers impose excessive work hours, fail to provide sufficient leave or flexibility, or disregard employees’ personal needs.
WORK-LIFE BALANCE
Maintaining open and transparent communication with employees, including sharing relevant information about company policies, decisions, and changes. Ethical concerns arise when employers withhold important information or engage in dishonest or misleading communication.
TRANSPARENCY AND COMMUNICATION
Valuing and respecting diversity in the workplace, including different perspectives, backgrounds, and ideas. Ethical concerns arise when employees engage in discriminatory behavior, exclusion, or fail to respect and appreciate diversity.
RESPECT FOR DIVERSITY AND INCLUSION
