Business Ethics Vocabulary

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code of ethics

a company's written standards of ethical behavior that are deigned to guide managers and employees in making the decisions and choices they face every day

virtue ethics

a concept of living your life according to a commitment of the achievement of a clear ideal: What sort of person would I like to become, and how do I go about becoming that person

bribe

a forced payment of money or a favor required before an official or decision maker will make a favorable decision

culture

a particular set of attitudes, beliefs, and practices that characterize a group of individuals

ethical dilemma

a situation in which there is no obvious right or wrong decision, but rather a right or wrong answer

society

a structured community of people bound together by similar traditions and customs

intrinsic value

a value that is a good thing in itself and is pursued for its own sake

The Golden Rule

do unto others as you would have them do unto you

glass ceiling

employment barriers faced by women and minorities

utilitarianism

ethical choices that offer the greatest good for the greatest number of people

morals

practical applications of ethical principles. Modes of conduct.

conservation

preserving scarce natural resources

values

standards or ideals which serve as guides or standards by which we live and make decisions.

business ethics

the application of ethical standards to business behavior

social responsibility

the duty of a business to contribute to the well-being of the community and society at large

normative ethics

the practical means of determining a moral course of action

applied ethics

the study of how ethical theories are put into practice

ethics

the study of values, of how we ought to live. It denotes systematic, rational reflection upon a particular behavior.

corporate governance

the system by which business corporations are directed and controlled

meta-ethics

the theoretical meaning and reference of moral propositions and how their truth values (if any) may be determined


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