Business "Terms to Know" Chap.4
Terms
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- Ethic
- A set of moral principles by which people conduct themselves: personally, socially and/or professionally.
- Business Ethics
- A set of guidelines about how a business should conduct itself.
- Sweatshops
- Factories that have unsafe working conditions, pay poorly and teach workers badly.
- Occupational Safety and Heath Administration (OSHA)
- A division of the Department of Labor that sets and enforces health and safety in the work environment.
- Code of Ethics
- A set of guidelines for maintaing ethics in the workplace.
- Social Responsibilities
- The duty to do what is the best for the good of society.
- Conflict of Interest
- When a business is tempted to put profits before social welfare.
- Food and Drug Administration (FDA)
- A governmental agency that protects consumers from dangerous and/or falsely advertised products.
- The Equal Pay Act (1964)
- Requires that men and women get paid equal amounts of money for equal work.
- Environmental Protection Agency (EPA) (1970)
- A federal agency that enforces rules that protect the environment and control pollution.