Chapter 21: Business ethics and social responsibilities. Flashcards

1
Q

Define Ethics

A

the moral rules that guide business decision making. It helps them decide what is right and what is wrong.

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2
Q

What is code of ethics

A

written set of rules to ensure ethical behaviour

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3
Q

Define social Responsibilty

A

the obligation of every business to respect the interests of all stakeholder groups

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4
Q

Responsibilty to Workers

A

fair wage

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5
Q

Responsibilty to customers

A

quality product

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6
Q

Responsibilty to investors

A

honest financial info

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7
Q

Responsibilty to suppliers

A

bills paid on time

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8
Q

Responsibilty to government

A

pay proper tax

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9
Q

Responsibilty to community

A

employ locals

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10
Q

Responsibilty to society

A

safe durable gooods

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