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2012-04-04 15:07:01

key terms from chapter four - Nickels, W.G., 2010. Understanding Business. McGraw-Hill Companies, Inc: New York. ed9, p. 88-111.
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  1. Define: ethics
    standards of moral behavior, that is, behavior accepted by society as right versus wrong (p. 92)
  2. Define: compliance-based ethics codes
    ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers (p. 96)
  3. Define: integrity-based ethics codes
    ethical standards that define the organization's guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees (p. 96)
  4. Define: whistleblowers
    insiders who report illegal or unethical behavior (p. 97)
  5. Define: corporate social responsibility (CSR)
    a business' concern for the welfare of society (p. 98)
  6. Define: corporate philanthropy
    the dimension of social responsibility that includes charitable donations (p. 99)
  7. Define: corporate social initiatives
    enhanced forms of corporate philanthropy directly related to the company's competencies (p. 99)
  8. Define: corporate responsibility
    the dimension of social responsibility that includes everything from hiring minority workers to making safe products (p. 100)
  9. Define: corporate policy
    the dimension of social responsibility that refers to the position a firm takes on social and political issues (p. 100)
  10. Define: insider trading
    an unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends (p. 101)
  11. Define: social audit
    a systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs (p. 104)