Blue
A set of beliefs about right and wrong, good and bad.
ethics
Ethical norms that apply to all people across a broad spectrum of situations
universal ethical standards
Any groups that have a stake—or a personal interest—in the performance and actions of an organization
stakeholders
Provide quality products at a fair price. Ensure that customers are safe and informed. Support consumer choice and consumer dialogue.
Customers
The application of right and wrong, good and bad, in a business setting.
business ethics
A decision that involves a conflict of values; every potential course of action has some significant negative consequences.
ethical dilemma
A formal, written document that defines the ethical standards of an organization and gives employees the information they need to make ethical decisions across a range of situations.
code of ethics
Create an ongoing stream of profits. Manage investor dollars according to the highest legal and ethical standards.
Investors
A social movement that
focuses on four key consumer rights: (1) the
right to be safe, (2) the right to be informed,
(3) the right to choose, and (4) the right to
be heard
consumerism
Employees who report their employer’s illegal or unethical behavior to either the authorities or the media.
whistle-blowers
Business contributions to the community through the actions of the business itself rather than donations of money and time
corporate responsibility
All business donations to nonprofit groups, including money, products, and employee time
corporate philanthropy
The obligation of a business to contribute to society
social responsibility
Refers to the amount of harmful greenhouse gases that a firm emits throughout its operations, both directly and indirectly
carbon footprint
Doing business to meet the needs of the current generation, without harming the ability of future generations to meet their needs
sustainable development
A systematic evaluation of
how well a firm is meeting its ethics and
social responsibility goals
social audit
The strategy of deliberately designing products to fail in order to shorten the time between purchases
planned obsolescence
Developing and promoting environmentally sound products and practices to gain a competitive edge.
green marketing
Federal legislation passed in 2002 that sets higher ethical standards for public corporations and accounting firms. Key provisions limit conflict-of-interest issues and require financial officers and CEOs to certify the validity of their financial statements
Sarbanes–Oxley Act
Marketing partnerships between businesses and nonprofit organizations, designed to spike sales for the company and raise money for the nonprofit
cause-related marketing