Values and Accountability
What is the practice of being open and honest about business operations and decisions?
What is Transparency?
This occurs when a company raises prices excessively on essential goods, especially during emergencies.
What is Price Gouging?
What marketing strategy involves a company partnering with a cause to improve its brand image?
What is Cause-Related Marketing?
This agency enforces workplace safety and health standards.
What is OSHA (Occupational Safety and Health Administration)?
Who are the people who buy and use a company's products or services?
What are Customers?
Define ethics in a business context.
What is a system of moral principles that applies values and judgments to business behavior?
When a manager hires their unqualified sister to work at the firm, this ethical issue is present.
What is a Conflict of Interest?
This practice involves sourcing products in a way that respects workers' rights and environmental standards
What is Ethical Sourcing?
Which agency protects employee rights and prevents discrimination based on race, color, religion, gender, or national origin?
Name two groups of stakeholders affected by a company's ethical practices.
What are Employees, Customers, Shareholders, and/or the Environment?
A person who reports illegal or unethical activities within an organization is called a _____.
What is a Whistleblower?
: A situation exists between self-interest and professional obligation. What is this called?
What is a Conflict of Interest?
Define Sustainability in a business context.
What is meeting present needs without compromising the ability of future generations to meet their own needs?
This agency regulates advertising, protects consumers, and prevents unfair business practices.
What is the FTC (Federal Trade Commission)?
This group owns shares or equity in the company and expects financial returns.
What are Shareholders?
What is the protection of personal information collected from customers and employees?
What is Consumer Data Privacy?
This is the practice of making misleading environmental claims to appear more eco-friendly than you actually are.
What is Greenwashing?
When a company takes a public stance on social or political issues, this is called _____.
What is Brand Activism?
Name two agencies that regulate food, drugs, or health-related industries.
What is the FDA (Food and Drug Administration) and/or HIPAA (Health Insurance Portability and Accountability Act)?
Why is the environment considered a stakeholder in business decisions?
Name the set of guidelines designed to maintain ethics in the workplace
What is a Code of Ethics?
This unethical practice involves offering money, gifts, or favors to influence someone's business decisions or secure unfair advantages.
What is Bribery?
Name a real-world company known for strong ethical practices and briefly describe one of their initiatives.
What is Ben & Jerry's (fair trade, environmental activism), BMW (sustainability), Mattel (ethical sourcing), or Colgate-Palmolive (responsible sourcing)?
Which law protects student educational records and restricts access to private information?
What is FERPA (Family Educational Rights and Privacy Act)?
Describe how one unethical business practice affects multiple stakeholders.
Price Gouging harms Customers; Greenwashing affects the Environment and deceives Customers