BADM 1020: Chapter 2
Terms
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- Ethics
- The study of right and wrong and the morality of the choices individuals make
- Business Ethics
- The application of moral standards to business situations
- Code of Ethics
- A guide to acceptable and ethical behavior as defined by an organization
- Whistle Blowing
- Informing the press or governement officials about unethical practices within one's organization
- Social Responsibility
- The recognition that business activites have an impact on society and the consideration of that impact in business decision making
- Caveat Emptor
- A latin phrase, meaning "Let the buyer beware."
- Economic Model of Social Responsibility
- The view that society will benefit most when business is left alone to produce and market profiatble products that society needs.
- Socioeconomic Model of Social Responsibility
- The concept that business should emphasize not only profits but also the impact of its decisions on society.
- Consumerism
- All activites undertaken to protect the rights of consumers
- Minority
- A racial, religious, political, national or other group regarded as different from the larger group of which it is a part of and often singled out for unfavorable treatment.
- Affirmative Action Program
- A plan designed to increase the number of minority employees at all levels within an organization.
- Equal Employment Opportunity Commission (EEOC)
- A government agency with power to investigate complaints of employment discrimination and the power to sue firms that practice it.
- Hard Core Unempolyed
- Workers with little education or vocational training and a long history of unemployment
- Pollution
- The contamination of water, air or land through the actions of people in an industrialized socitey.
- Social Audit
- A comprehensive report of what an organization has done and is doing with regard to social issues that affect it.