BUSINESS ETHICS
These are well-founded standards of right and wrong that prescribe what humans should do in terms of rights, obligations, and fairness.
What is ethics?
This four-step continuous improvement cycle stands for Plan, Do, Check, Act.
What is PDCA (or the PDCA cycle)?
These are the five core HR functions including recruiting, training, performance management, employee relations, and this.
What is compensation and benefits (or retention strategies)?
When a supplier claims to use sustainable practices but actually uses cheaper materials, this is an example of misleading claims in this type of marketing.
What is eco-friendly (or green) marketing?
This type of ethical framework asks "What produces the greatest good for the greatest number?"
What is utilitarianism (or consequences-based ethics)?
This fast-food chain suffered major E. coli outbreaks in 2015-2016 due to inconsistent food safety procedures.
What is Chipotle?
Workplace conflict can waste up to this percentage of employee time according to research.
What is 25%?
Hiring a client's child for an internship over more qualified candidates raises concerns about this practice of showing favoritism to relatives or friends.
What is nepotism (or favoritism)?
Walmart faced criticism for this practice of opposing worker organizations that they viewed as divisive.
What is being anti-union?
TQM emphasizes these five core principles including customer focus, continuous improvement, and this type of engagement from staff.
What is employee engagement (or teamwork)?
This conflict resolution style involves high assertiveness and high cooperation, where both parties work to find a win-win solution.
What is collaborating?
A fitness app selling user health data to insurance companies without clear consent violates this principle about user information.
What is privacy (or informed consent)?
When influencers post about products without disclosing payment, they violate these government regulations about disclosure.
What are FTC regulations?
This is the ability to verify the history, location, or application of an item through documented identification, critical for "green marketing."
What is transparency and traceability?
In the conflict resolution process, after brainstorming solutions and agreeing on action steps, you must do these two final steps.
What is document the agreement and follow up to ensure resolution?
Overhearing competitors discuss their product launch and recording it crosses the line from competitive intelligence to this illegal practice.
What is corporate espionage?
This ethical approach asks "What would an honest, fair, and responsible person do?" focusing on character traits like integrity rather than rules or outcomes.
What is virtue-based ethics (or virtue ethics)?
This is a policy of producing consumer goods that rapidly become obsolete and require replacing, achieved by frequent design changes or use of non-durable materials.
What is planned obsolescence?
This conflict resolution style involves low assertiveness and low cooperation, where someone avoids addressing the conflict entirely by saying "Can we talk about this some other time?"
What is avoiding?
This is the legal and ethical obligation of a professional to act in the best interest of their clients or stakeholders, which financial advisors and corporate executives must uphold.
What is fiduciary responsibility (or fiduciary duty)?