FM 116 Chapter Notes - Chapter 4: Consumer Protection, Insider Trading

• School: FIT
• Department: Fashion Business Management
• Course: FM 116
• Professor: George Sanchez

Document Summary

Ethics: the study of right and wrong; and the morality of the choices people make. Business ethics: the application of moral standards to business situations. There is an expectation that businesspersons will refrain from knowingly deceiving, misrepresenting, or intimidating others: organizational relationships: Businesspersons are expected to put the welfare of others and that of the organization above their personal welfare: conflict of interest: Issues arise when a businessperson takes advantage of a situation for his or her own personal interest rather than for the employer"s interest: communications: Business communications that are false, misleading, or deceptive are both illegal and unethical. Social audit: a comprehensive report of what an organization has done, and is doing, with regard to social issues that affect it. Company stakeholders: companies have a responsibility to: Local community, government (want you to have good working conditions and making products without harms), suppliers, customers,