BUS 101: Chapter 4

Corporate Policy

Refers to the position a firm takes on social and pol issues.

Ethics

Standards of moral behavior that is accepted by society as right versus wrong. (Is it legal? Fair? How will it make me feel about myself?)

Social Audit

Systematic evaluation of an organization's progress toward implementing programs that are socially responsible.

Corporate Social Responsibility

A business's concern for the welfare of society.

Corporate Responsibility

Hiring minority workers, making safe products, etc.

Insider Trading

Insiders use private company info to further their own fortunes or those of their family and friends.

Corporate Social Initiatives

More enhanced of philanthropy; related to company's competencies.

Whistleblowers

People who report illegal or unethical behavior.

Corporate Philanthropy

Dimension of social responsibility that includes charitable donations.

Integrity-Based Ethics Codes

Ethical standards that define the organization's values, support ethically sound behavior, and stress a shared accountability among employees.

Compliance-Based Ethics Codes

Ethical standards that emphasize preventing unlawful behavior by increasing control and penalties.