Level 2
Level 4
11 words 0 ignored
Ready to learn
Ready to review
Ignore words
Check the boxes below to ignore/unignore words, then click save at the bottom. Ignored words will never appear in any learning session.
Ignore?
Ethics
The study of what constitutes right and wrong behavior.
Business ethics
The study of decisions that businesses make and whether those decisions are right or wrong.
Code of ethics
A set of principles of conduct within an organization that guide decision making and behavior.
Conflict of interest
A conflict between the private interests and the official or professional responsibilities of a person in a position of trust.
Conflict of loyalty
A conflict between an employee’s duty of loyalty to an employer and loyalty to friends, family, or co-workers.
Corporate social responsibility
A company’s commitment to good citizenship and to making ethical decisions, improving society, and minimizing environmental impact.
Cost-benefit analysis
Choosing among competing alternative actions by assessing the positive and negative effects of those actions on the stakeholders.
Ethical dilemma
A situation in which a person has to choose between two ethically questionable options.
Ethical lapse
A failure to recognize or follow the clearly preferable ethical choice.
Ethical reasoning
The application of morals and ethics to a situation.
Externality
A cost or benefit that affects a party who did not choose to incur that cost or benefit—the costs, often environmental and social, that aren’t figured into transactions.
