chapter 4: business ethics & social responsibility: semester 1 1 introduction to business...
TRANSCRIPT
Chapter 4: Business Ethics & Social Responsibility: Semester 1
1
Introduction to BusinessChapter 4
Vocabulary
This is prepared for the Business student by a student in your business classes.
Tyler S. 11-5-08
Teacher Malone
Chapter 4: Business Ethics & Social Responsibility: Semester 1
2
Ethics
• A set of moral principles by which people conduct themselves personally, socially, or professionally.
Chapter 4: Business Ethics & Social Responsibility: Semester 1
3
Business Ethics
• Set of guidelines about how a business should conduct itself.
• Focuses on decisions considered good or bad, correct or incorrect.
Chapter 4: Business Ethics & Social Responsibility: Semester 1
4
Sweatshops
• Factories that – Have unsafe working conditions– pay poorly, – treat workers badly
Chapter 4: Business Ethics & Social Responsibility: Semester 1
5
Occupational Safety and Health Administration (OSHA)
• A division of the United States Department of Labor that sets and enforces work-related health and safety rules. OSHA is an independent agency set up to protect society.
Chapter 4: Business Ethics & Social Responsibility: Semester 1
6
Code of Ethics
• A strict of guidelines in a profession or company for upholding ethical behavior in a workplace.
• Business police themselves by distributing code of ethics.
• Doctors, lawyers, journalists, teachers have their own code of ethics.
• Covers everything from employee behavior to environmental safety.
Chapter 4: Business Ethics & Social Responsibility: Semester 1
7
Social Responsibility
• The obligation to do what is best for the welfare of society.
Chapter 4: Business Ethics & Social Responsibility: Semester 1
8
Conflict of Interest
• When a business puts profits before the interests of society.
Chapter 4: Business Ethics & Social Responsibility: Semester 1
9
Food and Drug Administration (FDA)
• A governmental agency
• protects consumers from dangerous or falsely advertised products
• For example, pain medicines
Chapter 4: Business Ethics & Social Responsibility: Semester 1
10
Equal Pay Act
• A federal law requires both men and women get paid the same wages for doing equal work
• Passed in 1964
Chapter 4: Business Ethics & Social Responsibility: Semester 1
11
Environmental Protection Agency (EPA)
• Created in 1970
• A federal government agency
• Enforces rules that protect the environment and controls air pollution