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Business Ethics Summary

Business Ethics 2019/20 Summary Chapters

Business Ethics 2019/20 Summary Chapters

Set of flashcards Details

Flashcards 65
Students 10
Language English
Category Religion/Ethics
Level University
Created / Updated 22.12.2019 / 04.01.2024
Licencing Not defined
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Define Business Ethics

Comprises organizational principles, values, and norms that may originate from individuals, organizational statements, or from the legal system that primarily guide individual and group behavior in business

When do ethical decisions occur?

when accepted rules no longer serve and decision makers must weigh values and reach a judgment

Define these 3 words:
a) Morals

b) Principles

c) Values

a) Refer to a person’s personal philosophies about what is right or wrong

b) Specific and pervasive boundaries for behavior that should not be violated

c) Enduring beliefs and ideals that are socially enforced

Name examples for misconduct inthe workplace.

Misuse of company resources

Abusive behavior


Accounting fraud

Conflicts of interest

Defective products


Employee theft

Name the 4 principles of JFKs Consumer Bill of Rights.


to safety

to be informed

to choose

to be heard

What was the goal of the Corporate social responsibility?

an organization’s obligation to maximize positive impact and minimize negative impact on stakeholders

Name three goals of The Federal Sentencing Guidelines for Organizations (FSGO) in 1991 and name on which initiative it was founded.

- Set tone for compliance

- Preventative actions against misconduct

- A company could avoid/minimize potential penalties


Defense Industry Initiative on Business Ethics and Conduct (DII)

What was the goal of the Sarbanes-Oxley Act (2002)?

Increased accounting regulations