COMMERCE 1E03 Chapter 5: COMMERCE 1E03 Chapter 5 Terms
16 Jan 2019
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Ethics: standards or moral behaviour, that is, behaviour that is accepted by society as right verses wrong. Compliance-based ethics codes: ethical standards that emphasizes preventing unlawful behaviour by increasing control and by penalizing wrongdoers. Integrity-based ethics codes: ethical standards that define the organization"s guiding values, create an environment that supports ethically sound behaviour, and stress a shared accountability among employees. Whistleblowers: people who report illegal or unethical behaviour. Corporate social responsibility (csr): a business"s concern for the warfare of society. Corporate philanthropy: dimension of social responsibility that includes charitable donations. Corporate social initiative: dimension of social responsibility that includes everything from hiring minority workers to making safe products. Corporate policy: dimension of social responsibility that refers to the position a firm takes on social and political issues. Insider trading: an unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends.
