RSM100Y1 Chapter Notes - Chapter 2: Green Marketing, Public Company, Consumerism
Document Summary
Business ethics: standards of conduct and moral values regarding right and wrong actions in the business environment. Sarbanes-oxley act of 2002: u. s. federal legislation designed to deter and punish corporate and accounting fraud and corruption. It is also designed to protect the interests of workers and shareholders by requiring enhanced financial disclosures, criminal penalties for ceos and cfos who defraud investors, and safeguards for whistle-blowers. The act also established a new regulatory body for public accounting firms. Conflict of interest: a situation in which an employee must choose between a business welfare and personal gain. Integrity: beha(cid:448)i(cid:374)g a(cid:272)(cid:272)ordi(cid:374)g to o(cid:374)e"s deeply felt ethi(cid:272)al pri(cid:374)(cid:272)iples i(cid:374) (cid:271)usi(cid:374)ess situatio(cid:374) Whistle blowing: disclosure to company officials, government authorities, or the media of illegal, immoral, or unethical practices committed by an organization. Code of conduct: a formal statement that defines how an organization expects its employee to resolve ethical issues.
